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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Digestive health products include probiotics, prebiotics, and enzyme supplements that support healthy digestion. They help maintain a balanced intestinal flora, optimize digestion, and ease conditions like bloating, constipation and acidity. Probiotic supplements containing bifidobacteria and lactobacilli benefit gut health the most. Enzymes like amylases and proteases also aid in breaking down food for better nutrient absorption.
Market key trends:
The Digestive Health Products Market is driven by the rising awareness about gut microbiome and its link to overall wellness. There is a growing consumer preference for natural and herbal products to promote digestive strength without side effects. Moreover, busy lifestyles and food habits have increased the risk of digestive issues, driving demand. Manufacturers are focusing on customized formulations for specific needs like lactose intolerance, IBS, etc. Advanced delivery vectors like gummies and drinks are also gaining traction for enhanced palatability.
Porter's Analysis
Threat of new entrants: Low capital requirements and established brands create barriers for new players. Bargaining power of buyers: Large customer base and substitutes give buyers high bargaining power. Bargaining power of suppliers: Few dominant suppliers and differentiation in ingredients gives them bargaining power. Threat of new substitutes: Functional foods, probiotics and supplements offer product substitutes. Competitive rivalry: Established players compete fiercely on innovation, quality and pricing.
SWOT Analysis
Strength: Wide product portfolio and global presence strengthen leadership. Weakness: High research and marketing costs affect profitability. Opportunity: Growing health consciousness and probiotic benefits expand market. Threats: Stringent regulations and changing consumer preferences pose challenges.
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 health awareness amongst consumers. The market size for 2023 is US$ 50.41 Bn.
Regionally, North America holds the largest share in the global digestive health products market owing to higher affordability and growing consumption of probiotics in the US and Canada. Asia Pacific is expected to witness the fastest growth due to rising incomes and expanding middle class in India and China.
Key players operating in the digestive health products market are 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. Companies compete through value added product launches, mergers, expansions, and collaborations.
Read more: https://www.ukwebwire.com/digestive-health-products-market-share-analysis/
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