Press release
Digestive Health Products Market - Technological Advancements, Evolving Industry Trends and Insights 2017 - 2022
Digestive health products are becoming an increasingly important part of the healthcare scenario in a number of regions due to the increasing awareness about the importance of digestive healthcare and the contribution provided by digestive health products in maintaining the overall health of an individual. Digestive health products help maintain a healthy level of gastric acids and gut flora to enable comprehensive digestion of various nutrients and a healthy digestive tract. Health of the digestive tract is a vital indicator of the individual’s overall wellbeing, due to the considerable impact it has on various other systems functioning in the body. The global digestive health products market is thus likely to grow at a steady 3.9% CAGR over the 2017-2022 forecast period.According to Transparency Market Research, the global digestive health products market was valued at US$68.8 bn in 2017 and is expected to rise to US$83.5 bn by 2022.
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Rising Awareness about Digestive Health Drives Demand for Digestive Health Products
The growth of a well-informed and affluent consumer demographic in developed regions has been a key driver for the global digestive health products market in recent years. Efforts by healthcare agencies to increase awareness about digestive health have also helped the global digestive health products market, especially in developed countries. Urban areas are likely to remain the key demand centers for the digestive health products market in the coming years due to the higher disposable income of the growing urban middle class, making this a key driver for the global digestive health products market.
North America, Europe to Dominate Global Digestive Health Products Market
The dominance of developed regions in the global digestive health products market is underlined in the geographical segmentation of the market, with North America dominating the global market figures in 2017 and looking likely to carry the dominance through the 2017-2022 forecast period. The North America market for digestive health products was valued at US$24.5 bn in 2017 and is likely to rise to US$29.4 bn by 2022 at a steady CAGR of 3.7% therein. Europe is also likely to remain a dominant contributor to the global digestive health products market in the coming years despite a slow 3.2% in the 2017-2022 forecast period. The Europe digestive health products market is likely to reach US$20.6 bn by 2022.
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Asia Pacific except Japan to Exhibit Rapid Growth
In terms of growth rate, Asia Pacific except Japan (APEJ) is the dominant regional segment of the global digestive health products market. The robust 5% CAGR of the APEJ digestive health products market is expected to carry it to a strong valuation of US$18.1 bn by 2022, making it likely to emerge as a major contributor to the global digestive health products market in the coming years.
Japan is also likely to contribute significantly to the global digestive health products market in the coming years, with the regional market expected to create an opportunity valued at more than US$1.5 bn between 2017 and 2022. Awareness about healthcare and especially digestive health is high in Japan and the growing geriatric population in the region is also expected to drive the demand from the digestive health products market in the region in the coming years.
Competitive Dynamics
Leading companies 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. are likely to dominate the global digestive health products market in the coming years.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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