New York, Sept. 28, 2021 (GLOBE NEWSWIRE) — Ottawa, September 28, 2021 (GLOBE NEWSWIRE) – The Global digestive health products market is expected to grow with a compound annual growth rate (CAGR) of 8.5% during the forecast period 2021 to 2030.
Digestive health products help improve human digestive health and prevent digestion-related diseases such as irritable bowel syndrome, inflammatory bowel disease, constipation, colic, and ulcerative colitis. According to a study, about 40% of the world’s population suffers from gastrointestinal diseases. Hence, the increasing prevalence of diseases related to digestion is a major factor driving the growth of the digestive health products market. Moreover, increasing investments and innovative product launches by leading manufacturers are propelling the growth of the market.
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The crucial factors responsible for the growth of the market are:
- Growing incidence of gastrointestinal diseases
- Growing geriatric population
- Unhealthy eating habits
- Busy and Hectic Consumer Lifestyles
- Growing popularity of e-commerce
- Increase in consumer spending on health products and supplements
- Frequent product launches by market players
- Growing consumer awareness of bowel disease
Scope of the Digestive Health Products Market Report
|Market size in 2030||US$72.5 billion|
|Growth rate from 2021 to 2030||8.5% CAGR|
|Year of reference||2020|
|Forecast period||2021 to 2030|
|Segments Covered||Ingredients, product, delivery format, distribution channel|
|Regional scope||North America, APAC, Europe, Latin America, MEAN, Rest of the World|
|Companies cited||Cargill, Inc., Arla Foods, Inc., Danone AS, PepsiCo, Inc., Yakult Honsha Co., Nestlé SA, AST Enzymes, Beroni Group, Danisco AS, Chr. Hansen Holding|
North America dominated the global digestive health products market in 2020 and is expected to increase the market in the coming years. Major factors attributed to its growth include high disposable income, increased consumer awareness about the availability of various digestive health products, and higher penetration of internet and e-commerce platforms. The presence of few major manufacturers and their aggressive marketing strategies had increased the market for digestive health products in the region.
Asia-Pacific is expected to be the fastest growing market in the coming years. The main factor attributed to this is the proliferating penetration of smart phones, the increasing number of internet users, the growing penetration of e-commerce, as well as the development of distribution infrastructure. Asia-Pacific is highly populated, supplying a large number of customers. Additionally, the food and beverage industry is growing rapidly in the region, which is expected to propel the growth of the digestive health products market over the forecast period.
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- The probiotics segment dominated the global digestive health products market with a revenue share of 75% in 2020. Rising consumer awareness of the health benefits of probiotic consumption is increasing the growth of the segment.
- By product, in 2020, dairy products led the market by 55% in terms of total market revenue. Consumers’ sedentary lifestyle, demand for healthy eating habits, and increased consumer awareness of the nutritional benefits of dairy products have led the dairy segment to emerge as the leading segment in recent years.
- By delivery format, in 2020, capsules led the market in terms of total market revenue. The busy and hectic lifestyle of consumers results in unhealthy eating habits. Hence, the consumption of capsules has increased due to its easy availability, convenience and intestinal benefits.
- By distribution channel, in 2020 pharmacies dominated the revenue share of 60% of the total market. This is attributed to the high demand for digestive health product capsules and tablets among the population.
The growing demand for nutritional supplements is one of the key factors driving the growth of digestive health products. The increasing participation of women in business and other fields of work is a major factor due to which consumers are unable to maintain a healthy diet. Moreover, the growing penetration of fast food chains has led to an increase in unhealthy eating habits among consumers. Therefore, to meet basic nutritional and dietary needs, consumers opt for dietary supplements. These food supplements meet the fiber needs of consumers and help prevent intestinal disorders.
- Nutraceutical Ingredients market – Global market was valued at US$161.2 Billion in 2019 and is projected to reach US$225.7 Billion by 2027, growing at a compound annual growth rate (CAGR) of 7.3% during the forecast period 2020 to 2027.
- dietary supplements market – Global market size was valued at US$141.2 Billion in 2020 and is projected to reach US$279.2 Billion by 2030, growing at a CAGR of 8.4% during the estimate period 2021 to 2030.
- Food Safety Testing Market – The global market size reached USD 17.43 billion in 2019 and is expected to reach over USD 32.21 billion by 2027, growing at a CAGR of 7.2% during the forecast period 2020 to 2027.
There are certain strict government standards regarding the use of prebiotics and probiotics that manufacturers must contend with. The manufacture of digestive health products must be approved by regulatory authorities undergoing product testing and approval before reaching the market. Strict and stringent government standards may restrain the growth of the market. In addition, lack of product knowledge in developing markets is another limiting factor.
Probiotics provide opportunities for growth. Probiotics are linked to innovation in functional foods and beverages and new delivery formats. Probiotics allow consumers to include it in their regular diet at low cost. Probiotics like LactoSpore can remain stable for up to three years, providing long shelf life for digestive health products.
Lack of awareness regarding different digestive health products, especially in developing markets such as India, China, and Brazil, is a major challenge that needs to be addressed by market players. Marketing and promotional activities can help meet this challenge.
- In April 2018, SundyotaNumandis, a key player in the healthcare solutions industry, partnered with an Italian company to launch Lactobacillus rhamnosus in India. Lactobacillus rhamnosus is a probiotic product that has driven the growth of the digestive health products market in the Asia-Pacific region.
- In August 2020, OptiBiotix Health renewed its agreement with its partners for the promotion and marketing of probiotic supplements.
- In September 2020, GT Living Foods, declared its stake in the functional beverage industry with Aqua Kefir.
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