by The global 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 include yogurt, fortified/functional food, food enzymes, probiotics, prebiotics, and medical nutraceuticals. These products aid in improving gastrointestinal function and health by supporting digestive enzyme function, maintaining a balanced gut microbiome, regulating bowel movements, and breaking down food for nutrient absorption. Rising awareness about digestive disorders and growing consumer preference for preventive healthcare are contributing to the increased demand for these products.
Market key trends:
One of the major trends witnessed in the digestive health products market is the growing focus on developing nutrition-rich and scientifically-substantiated nutraceuticals. Manufacturers are increasingly investing in R&D to engineer novel ingredient blends that can help address specific digestive conditions beyond basic nutrition. For instance, probiotic formulations targeted for conditions like IBS, ulcerative colitis, etc. Additionally, combinations of prebiotics and probiotics are gaining popularity due to their synergistic benefits. Emerging areas like psychobiotics and fiber supplements are also augmenting innovation.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the digestive health products market is moderate as it requires substantial investment for manufacturing and distribution networks.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of several product options from various brands in the market. Buyers can easily switch between brands based on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are numerous raw material suppliers for probiotics, prebiotics and other ingredients used in manufacturing digestive health products.
Threat of new substitutes: The threat of substitutes is low as digestive health products are unique with reported gut and overall health benefits.
Competitive rivalry: The competitive rivalry is high among the key global players operating in the digestive health products market.
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 gut health and its link to overall well-being.
North America dominates the global digestive health products market and is expected to continue its dominance over the forecast period. This is attributed to increasing trend of healthy snacking and digestive concerns among consumers in the US and Canada. However, Asia Pacific is projected to exhibit the highest CAGR during the analysis period driven by rising disposable incomes in emerging countries such as China and India.
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. Danone S.A. dominates the market, offering wide range of probiotic yogurts and fermented dairy products globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
