by The Digestive Health Products Market is estimated to be valued at US$ 50.41 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digestive health products are formulated to support and maintain healthy digestion system. These include probiotics, prebiotics, fiber supplements, and digestive enzymes. Probiotics are live microorganisms that provide health benefits when ingested. They help maintain balance of gut microbiota. Prebiotics are non-digestible fiber that feed probiotics in the gut. Fiber supplements bulks stool and aid bowel regularity. Digestive enzymes help breakdown food into absorbable nutrients. These are available as supplements, foods like yogurt, and naturally in fermented foods. With rising awareness of importance of gut health, digestive health products market is growing rapidly.
Market Dynamics:
The growth of the digestive health products market is majorly driven by increasing consumer awareness regarding digestive health. With sedentary lifestyle and changing food habits, digestive issues like constipation, bloating, diarrhea, and Irritable bowel syndrome (IBS) have become more common. This has driven demand for products supporting gut health. Additionally, growing geriatric population has also supported market growth as elderly are more prone to age-related digestive disorders. According to WHO, by 2050 over 2 billion people in the world are projected to be aged 60 years and older, thus driving demand from senior population. Furthermore, manufacturers are focusing on new product innovations with combination of multiple probiotic strains, prebiotics and digestive enzymes which has increased product attractiveness. New formulations targeted at specific digestive issues is another growth driver.
Segment Analysis
The digestive health products market is segmented into prebiotics, probiotics, enzymes, and fiber supplements. The probiotics segment dominates the market and is expected to witness the highest growth over the forecast period. Probiotics support intestinal health by restoring balance to the gut microbiome. Growing awareness about the health benefits associated with the consumption of probiotics is driving growth of this segment.
PEST Analysis
Political: Regulations related to claims about digestive health products are becoming more stringent which may impact innovation. However, supportive regulations in some countries are promoting the market growth.
Economic: Rising disposable income and growing health expenditure are fueling the adoption of digestive health supplements globally. Increased spending on preventive healthcare is supporting the demand.
Social: Changing lifestyles, busy schedules, and irregular eating habits are resulting in various digestive disorders. Growing instances of gut health issues are raising awareness about digestive health products.
Technological: Advancements in microencapsulation and probiotic delivery technologies are helping improve the survival of live microbials during production and storage of products. This is augmenting the production of more effective digestive health supplements.
Key Takeaways
The Global Digestive Health Products Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing awareness about digestive health and focus on preventive healthcare.
Regionally, North America dominates the market followed by Europe. This is attributed to high health awareness, improved access to healthcare facilities, and presence of major players in these regions. However, Asia Pacific is anticipated to exhibit the fastest growth owing to growing middle-class population, increasing expenditure on healthcare, and expanding retail landscape in the region.
Key players operating in the digestive health products market include Danone S.A., Arla Foods amba, Nestle, Chr. Hansen Holding A/S, Yakult Honsha Co., Ltd., General Mills Inc., Meiji Holdings Co., Ltd, Mondelēz International, PepsiCo, Inc., and Kellogg NA Co. These players are focused on new product launches, acquisitions, and expansion strategies to strengthen their global footprint and product portfolio. For instance, in 2022, Yakult Honsha launched a new probiotic drink in Thailand containing bifidobacteria and galactooligosaccharides.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
