PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218799
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218799
According to Stratistics MRC, the Global Digestive Health Products Market is accounted for $42.9 billion in 2022 and is expected to reach $79.5 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Products used to enhance the digestive tracts functionality are referred to as "Digestive Health Products." Healthy stomach acid levels are maintained at optimal levels by Digestive Health Products. Products for digestive health can be derived from natural plants, animals, or microorganisms as their sources, or they can be dietary supplements, fortified foods, or functional foods. These products typically contain a high amount of fibre, which helps food in the gut absorb more quickly.
According to the NCBI, National Centers for Biotechnology Information, Gastroesophageal Reflux Disease (GERD) is one of the most common gastrointestinal disorders, with a prevalence of approximately 20% of adults in western culture and is estimated that the prevalence of GERD in the U.S. is between 18.1 to 27.8%. Thus, this highlights the need for the digestive health solutions to manage and prevent the causes for the arising disorders.
Market Dynamics:
Driver:
Growing prevalence of malabsorption, obesity
Due to consumer lifestyle changes, there is a rising incidence of malabsorption, obesity, and reduced food intake, which is promoting the market growth for Digestive Health Products. By enhancing the functions of the digestive system, Digestive Health Products aim to strengthen the human immune system. The presence of different enzymes in Digestive Health Products, such as lipase, amylases, and lactase, aids in maintaining stomach acid levels and enhances nutrient digestion. One of the main drivers of the growth of the market for Digestive Health Products is the rising demand for nutritional supplements and food additives.
Restraint:
Expensive tests and development cost
A probiotic strain's claims must be supported by numerous in-vitro tests to determine whether they are true. Additionally, human clinical studies must be completed prior to the product launch. As a result, these tests are costly and raise the overall cost of product development. Several strain parameters need to be researched before a probiotic strain is introduced to the market. It is necessary to research the strain's characteristics, including bile and gastric acid resistance, intestine cell adhesion, pathogen exclusion, intestinal tract multiplication, immune modulation, and a number of other elements. This exercise requires extensive planning, work, and a lot of time to complete, which will restrain the market growth.
Opportunity:
Growing awareness among consumers
The general demand for Digestive Health Products is anticipated to increase as consumer awareness of diet and health increases. Additionally, it is anticipated that people's demand for Digestive Health Products will rise as more people learn about the benefits of probiotics. During the forecast period, it is anticipated that increased awareness, key market player strategies, excessive product innovation, and a preference for digestive foods will increase demand for digestive health systems.
Threat:
Strict regulations and revised tax structure
Although there are many market growth factors, there are also some obstacles limiting market growth in the digestive health sector. The strict regulations that the manufacturers of vitamins and supplements must adhere to prior to the product launch is one such factor. Before producing or selling supplements, manufacturers must register with the FDA in accordance with the Bioterrorism Act. Additionally, the tax has increased by roughly 5 to 10% over the past few years, which is also limiting the growth of the market for digestive health.
COVID-19 Impact
The COVID-19 pandemic has proven to be an unmatched global public health emergency that has impacted almost every industry. During the forecast period, these effects are anticipated to have an impact on the growth of every industry. Around the world, there have been numerous changes in consumer demand and behaviour, purchasing patterns, supply chain redirection, and significant government initiatives. The population's eating habits, use of other drugs, and other health-related behaviours have all changed as a result of the COVID-19 pandemic. Additionally, during the COVID-19 outbreak, demand for supplements and products for digestive health increased as more people became aware of dietary supplements and other healthy products that support gut health and boost immunity. Due to this, the digestive health sector prospered during the pandemic.
The Probiotics segment is expected to be the largest during the forecast period
During the forecast period, the Probiotics segment is anticipated to hold the largest market share in the global Digestive Health Products market owing to an increased awareness of the health benefits of probiotics, such as the prevention of irritable bowel syndrome, the treatment and prevention of diarrhea, the prevention of allergies and inflammation, and the improvement of immunity. Additionally, large number of companies such as Cargill, Incorporated, and BENEO GmBH in North America and Europe manufacture and supply probiotics ingredients globally, which is boosting the market.
The Dairy products segment is expected to have the highest CAGR during the forecast period
The Dairy products segment is expected to witness highest CAGR during the projection period. The market is fueled by rising consumer interest in preventive healthcare along with the creation of effective probiotic strains for dairy products to reduce intestinal inflammation, boost immunity, and improve gut health.
Region with largest share:
Due to the presence of a sizable number of digestive health product manufacturers as well as increased consumer awareness of the availability of various Digestive Health Products North America dominated the Digestive Health Products market and is expected to be largest during the forecast period. In addition, quick door-step delivery of goods, product innovations, and technological advancements have all contributed to the market growth for Digestive Health Products in North America in recent years.
Region with highest CAGR:
During the projection period, Asia-Pacific is anticipated to experience the highest CAGR due to the consumer base in the China, India, and Japan which are the largest regional markets for Digestive Health Products. Furthermore, rising geriatric populations, rising prevalence of digestive disorders, technological advancements in treatment, and an increase in government initiatives to support healthy lifestyles are the main factors driving the growth of the digestive health market in this region.
Key players in the market
Some of the key players profiled in the Digestive Health Products Market include Cargill, Inc., Arla Foods, Inc., Danone A.S., ADM, Yakult Honsha Co., Nestle SA, Cie Gervais Danone, Sanofi, BASF SE, Bayer AG, AST Enzymes, Beroni Group, Danisco AS, General Mills, Inc., Deerland Enzymes, Inc., Chr. Hansen Holding and BENEO GmbH.
Key Developments:
In April 2022, Arla Foods and DSM have joined forces to battle greenhouse gas emissions produced by dairy cows by using a new feed additive. According to the two groups, long-standing global research and on-farm trials show that Bovaer can reduce methane emissions by around 30 percent with continued high animal welfare, supporting the companies' commitment to sustainable dairy production.
In November 2021, ADM global leader in nutrition and agricultural origination and processing, announced that it has completed its purchase of Deerland Probiotics & Enzymes.
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