Digestive Health Products Market Driven by Rising Awareness about Importance of Digestive Health
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According to Transparency Market Research, the global digestive health products market was valued at US$68.8 bn in 2017 and is expected to reach a valuation of US$83.5 bn by 2022.
Here are the major highlights of the global digestive health products market:
Dairy products are likely to remain the dominant product segment of the global digestive health products market in the coming years. The dairy products segment of the global digestive health products market was valued at US$30.6 bn in 2017, accounting for 44.4% of the market. The segment is expected to exhibit a robust 5.1% CAGR over the 2017-2022 forecast period to rise to a valuation of US$39.3 bn. The widespread popularity of dairy products across the world is the primary driver for this segment in the coming years. Dairy digestive health products are becoming increasingly popular in emerging regions such as Asia Pacific, which has provided the digestive health products market with strong impetus due to the region’s increasing population.
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Asia Pacific except Japan and Japan are thus likely to remain important regional segments for the global digestive health products market in the coming years. The APEJ market for digestive health products is expected to exhibit a solid CAGR of 5% in the 2017-2022 forecast period, rising to a valuation of US$18.1 bn by 2022. The Japan market is also likely to remain an important contributor to global digestive health products market figures, with the region expected to generate opportunities worth US$1.5 bn over the 2017-2022 forecast period. The rising disposable income of consumers in Asia Pacific and Japan is a key driver for these regional markets over the coming years, while the rising government support to strengthening the healthcare infrastructure and boosting the dietary supplements and nutraceuticals sector is also likely to help the market’s growth.
North America is currently the dominant regional market for digestive health products. The North America digestive health products market was valued at US$24.5 bn in 2017 and despite a relatively weak 3.7% CAGR, the market is likely to rise to a strong valuation of US$29.3 bn over the 2017-2022 forecast period. The North America market for digestive health products is driven by the widespread acceptance of dietary supplements and other dietary complements and the rising awareness about digestive health. The Europe market for digestive health products is also likely to establish a dominant share in the global market in the coming years, rising to a valuation of US$20.6 bn by 2022.
The heavily fragmented global digestive health products market includes market leaders such as Yakult Honsha Co. Ltd., E. I. DuPont Nemours and Company, Nestle SA, Danone SA, Chr. Hansen Holding, Arla Foods Inc., Mondelez International Inc., Cargill Inc., General Mills, and PepsiCo Inc. The intense competition in the global digestive health products is unlikely to abate in the coming years due to the consistent availability of lucrative economic opportunities for new entrants, especially regional specialists.
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