Global Digestive Health Products Market Exhibiting A Steady 3.9% CAGR From 2017 to 2022
Digestive health products are a range of products designed to improve the functioning of the digestive tract of human beings. Various components of the digestive tract require significant maintenance due to their delicate nature and maintaining their health with the use of digestive health products has emerged as a key healthcare trend in a number of regions across the world. Digestive health products are aimed primarily at maintaining healthy acid levels in the stomach and replenishing healthy gut bacteria that perform a crucial role in digestion and absorption of all the nutrients present in food. Digestive health products are likely to emerge as a major revenue contributor to the global healthcare sector in the coming years due to the growing prevalence of digestive diseases and rising awareness about the importance of maintaining a healthy gut flora population.
According to Transparency Market Research, the global digestive health products market was valued at US$68.8 bn in 2017. Exhibiting a steady 3.9% CAGR from 2017 to 2022, the market is expected to rise to a valuation of US$83.5 bn.
Digestive Health Products Market: Dynamics
Rising awareness among the global populace about the importance of digestive health is likely to remain the key driver for the global digestive health products market. The growing adoption of modern dietary advances by a growing urban consumer demographic is also likely to remain a vital aid for the global digestive health products market.
The increasing availability of healthcare information on the Internet and the increasing emphasis of healthcare agencies on outreach programs to boost healthcare awareness among the population have helped the digestive health products market in developed countries. Consistent government backing to new innovation in the healthcare and pharmaceuticals industry in developed countries, with the development of the nutraceuticals sector presenting a novel revenue generation channel, is likely to remain a key driver for the digestive health products market in the coming years.
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Digestive Health Products Market: Segmentation
Dairy products represented more than 44% of the global digestive health products market in 2017 and are likely to remain the dominant revenue contributor to the market in the coming years. The segment accounted for US$30.6 bn in 2017 and is expected to rise to a valuation of US$39.3 bn by 2022. The robust 5.1% CAGR of the dairy products segment is expected to enable it to extend its share in the global digestive health products market to 47.1% over the 2017-2022 forecast period.
Geographically, North America is likely to remain the dominant contributor to the global digestive health products market in the coming years. The regional market is expected to reach a valuation of US$29.4 bn by 2022, exhibiting a steady 3.7% CAGR between 2017 and 2022. The market was valued at US$24.5 bn on the back of steady growth of a promising consumer demographic and steady growth of the nutraceuticals and dietary supplements sector.
In terms of growth rate, Asia Pacific except Japan is likely to be the leading regional segment of the global digestive health products market. The regional market is expected to exhibit a strong 5% CAGR over the 2017-2022 forecast period and reach a valuation of US$18.1 bn by 2022.
Digestive Health Products Market: Competitive Dynamics
Leading companies in the global digestive health products market include 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.
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