The global “digestive health“ market size is expected to reach USD 71.95 billion by 2027, exhibiting a CAGR of 7.9% during the forecast period. The growing awareness regarding the prominence of dietary supplements, probiotics, and functional will have a tremendous impact on the the market, states Fortune Business Insights, in a report, titled “Digestive Health Market Size, Share & COVID-19 Impact Analysis, By Ingredient Type (Probiotics, Prebiotics, Digestive Enzymes/Food Enzymes, and Others), By Product Type (Functional Foods & Beverages, Vitamins & Dietary Supplements, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Hospital Pharmacies, Online Pharmacies, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 37.93 billion in 2019.
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Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
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Heavy R&D Investments by Industry Players to Incite Development
The growing concerns regarding gut health among consumers have impelled manufacturers to invest heavily in research and development of digestive health products. According to a large-scale multinational research study conducted in 2020, more than 40% of the people worldwide have functional gastrointestinal disorders, affecting the quality of life and healthcare use. Thus, the surging demand for natural and safe products will create opportunities for the digestive health industry. Furthermore, the development of innovative products by key players can have an exceptional effect on the market. For instance, in November 2020, Beroni Group, an Australia-based diversified biopharmaceutical enterprise, announced a new product Beilemei in China. It is a probiotic health product aimed at modulating the balance of human intestinal flora.
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Surging Demand for Health Productsto Boost Business Amid COVID-19
The market has faced limitations due to the disruption caused by COVID-19 in the logistics and supply chain. However, the demand for functional products has remained steady throughout the epidemic. The prominent companies operating in the market focus on their distribution network and production lines to cater to consumers’ demands. According to Yakult U.S.A. Inc.’s annual report, in their overseas food and beverage business, average daily sales rose by 1.6% from the prior year to 31,624 bottles in 2020. Moreover, the growing cognizance about dietary supplements and healthy products will subsequently uplift the digestive health market growth during the coronavirus pandemic. According to the Food & Beverage and Supplements Report 2020, almost one-third of consumers consume more supplements (31%), functional foods, or beverages (29%).
Adoption of Organic Products to Propel Market in Europe
The market in Asia Pacific is expected to hold the largest share in the global digestive health market. The rising prevalence of digestive disorders is the factor contributing to the growth of this market. The demand for digestive health products is burgeoning, especially in countries such as Japan, India, and China. This has further given tailwinds to the market in this region. Followed by this, the market in North America is anticipated to hold the second-largest share in the global market. The growth is attributed to the rising geriatric population in the US and Canada. The surging number of gastrointestinal issues coupled with the presence of a large number of manufacturers in the region. Europe is expected to expand exponentially due to the rising adoption of natural and safe digestive health products. The Middle East & Africa is expected to proliferate owing to the increasing consumer spending.