Digestive Health Market
Number of pages: 100 | Report Format: PDF | Published date: September 08, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
USD 42.22 Billion |
|
Revenue forecast in 2030 |
USD 83.69 Billion |
|
Growth Rate |
CAGR of 7.9% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
|
Segments covered |
Ingredient Type, Product Type, Distribution Channel, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global digestive health market was pegged at US$ 42.22 billion in 2021 and is expected to register a revenue CAGR of 7.9% during the forecast period.
Market Fundamentals
The body's ability to effectively digest food and absorb nutrients is dependent on digestive health. Constipation, heartburn, bloating, indigestion, and more serious digestive illnesses are less common in those with healthy digestion. When gut health is subpar, it may be necessary to take probiotics or digestion-supporting enzymes. The probiotics balance gut flora and may lessen some IBS, UC, and diarrhea symptoms. In situations where the body is unable to produce enzymes on its own, doctors may prescribe both over-the-counter remedies and prescription enzyme replacements.
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Market Dynamic
One of the main factors driving the revenue growth of the global digestive health market is the rising demand for food additives that are nourishing and fortifying. Products for digestive health aid in boosting immunity and battling harmful micro-organisms. Consumption of products for digestive health is likely to rise because of consumers' increasing willingness to pay a little bit more for better health. Thus, it is expected that during the forecast period, demand for digestive health products would rise as consumer knowledge of gut health increases.
Due to poor eating practices and high consumption of processed, high-sodium, and ready-to-eat meals, the prevalence of obesity, digestive disorders, and lifestyle-related diseases are expected to increase, driving the demand for digestive health products. Extensive research and development activities for developing innovative novel products are also driving the demand amongst consumers. However, stringent regulations for the approval of the supplements are expected to hamper the market revenue growth to some extent.
Market Ecosystem
The global digestive health market is analyzed from four perspectives: ingredient type, product type, distribution channel, and region.
Digestive Health Market by Ingredient Type
Based on ingredient type, the global digestive health market is segmented into, probiotics, digestive enzymes, prebiotics, and others.
The probiotics segment dominates the global digestive health market in terms of revenue share. The large revenue share of this segment is attributed to a greater understanding of the health advantages of probiotics, including the reduction of allergens and inflammation, treatment and prevention of diarrhea, IBS prevention, and immune system improvement.
Digestive Health Market by Product Type
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Based on the product type, the global digestive health market is segmented into, vitamins & dietary supplements, dairy products, and non-alcoholic beverages.
The dairy products segment dominates the global market for digestive health in terms of revenue share. The market revenue growth of this segment is fueled by the rising consumer preference for preventive healthcare and the development of effective probiotic dairy product strains to reduce intestinal inflammation and boost gut health and immunity.
Digestive Health Market by Distribution Channel
Based on the distribution channel, the global digestive health market is segmented into, hospital pharmacies, online pharmacies, and supermarkets.
The supermarket segment dominates the global market, due to the ease of availability of products with enormous discount offers and the comfort of buying.
Digestive Health Market by Region
Based on region, the global digestive health market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America accounts for the largest revenue share in the global digestive health market. The large market revenue share of this region is due to the strong presence of key market players, government assistance for new product development, as well as technological advancements in the probiotic and prebiotic space. Additionally, factors such as rising healthcare costs, modifications to food laws that affect label and product claims, quick advances in science and processing technologies, an increase in the number of elderly people, and a growing interest in achieving wellness through diet are driving consumer interest in digestive health products in North America.
Competitive Landscape
The prominent players operating in the global digestive health market are:
Strategic Developments
The global digestive health market is expected to register a revenue CAGR of 7.9% during the forecast period.
The rising adoption of probiotics and awareness of gut health are the key governing factors of the market revenue growth.
Abbott Lab, Bayer AG, Dupont, Nestle SA, and Danone are among the key players operating in the global digestive health market.
The probiotic segment accounts for the largest revenue share in the global digestive health market.
Asia Pacific region is expected to register the highest revenue growth during the forecast period.
*Insights on financial permanence is subject to availability of information in public domain