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Global Digestive Enzymes Market - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Digestive Enzymes Market
Global digestive enzymes market projected to be valued around US $ 950 Mn in 2024 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Global Digestive Enzymes Market
Digestive enzymes are found in the digestive tract of human beings and animals which help in the digestion of food by breaking down the polymeric macromolecules into small building blocks to for easy absorption by the body. In plants, these enzymes are present in inside the cell, especially in lysosomes to maintain the cellular survival. Digestive enzymes are classified based on their target substrates such as lipases, amylases, proteases ad peptidases, and nucleases. These can be secreted by various organs of the body such as mouth, stomach, pancreas, and small intestine.
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Market Dynamics: Global Digestive Enzymes Market
Increase in the prevalence of digestive disorders due to change in lifestyle is a major factor expected to drive the growth of global digestive enzymes market over the forecast period. Rise in awareness about digestive disorders among the people coupled with need for good health enhance the growth of global digestive enzymes market. Moreover, rise in R&D for the innovation of newer products, increase in incidence of gastrointestinal disorders, and grow in healthcare expenditure are anticipated to stimulate the global digestive enzymes market growth. However, ban on animal killing in U.S., Australia, UK, and Canada leads to decrease in product availability, rise in usage of pre and probiotic products, stringent regulations for the product manufacturing, and lack of knowledge about exact dosing may hinder the growth of global digestive enzymes market over the forecast timeframe.
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Market Scope: Global Digestive Enzymes Market
Global digestive enzymes market is segmented based on the source, application, and distribution channel
Based on the source, the market is segmented into the following:
Animal
Microbial
Plant
Others
Based on the application, the market is segmented into the following:
Additional Supplements
Medical and Infant Nutrition
Sports Nutrition
Based on the distribution channel, the market is segmented into the following:
Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
Retail Stores
Regional Analysis: Global Digestive Enzymes Market
Geographically, global digestive enzymes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America digestive enzymes market is growing due to increase in the prevalence of digestive disorders and increase adoption of nutrition products by the athletes. Europe digestive enzymes market has a lucrative growth attributed to rise in G.I. disorders due to high intake of junk food, rise in awareness of digestive enzyme products, and increase in per capita income. However, a significant growth rate observed in Asia Pacific digestive enzymes market owing to entry of market players into Asia Pacific region, increase in the preference for health enhancing ingredients, and rise in sports activities. Latin America digestive enzymes market has prominent growth due to launching of newer products. Due to poor dietary habits Middle East and Africa digestive enzymes market projected to amplify the digestive enzymes demand over the forecast years.
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Competition Assessment: Global Digestive Enzymes Market
Some of the players in the global digestive enzymes market include:
Biotics Research Corporation (U.S.)
Country Life LLC (U.S.)
Matsun Nutrition (U.S.)
Nestec SA (Switzerland)
Danone Nutrica (Netherlands)
Lonza Group Ltd. (Switzerland)
Herbalife International of America, Inc. (U.S.)
Amway (U.S.)
Douglas Laboratories (U.S.)
Proteozymes (India)
XYMOGEN Inc. (U.S.)
Notable Market Developments: Global Digestive Enzymes Market
In October 2015, XYMOGEN Inc.’s production site received Therapeutic Goods Administration (TGA) approval in Australia for the manufacturing of digestive enzyme supplements
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