The global digestive health products market is expected to reach $89.9 billion by 2030, expanding at a CAGR of 8.2% from 2022 to 2030, according to a new report by Grand View Research.
The rising geriatric population, increasing healthcare costs, changing lifestyle and innovation in formulations of digestive health products are primary factors that have contributed towards market growth, the company said.
Key industry insights and findings from the report:
- In terms of revenue, the dairy products segment is expected to witness steady growth over the forecast period. Increasing consumer awareness regarding consumption of healthy food products coupled with ease in daily consumption of dairy products is expected to contribute towards segment growth;
- The probiotics segment accounts for the highest market share of 87.5% in 2021 and is expected to further witness growth on account of its property in aiding digestive health, intestinal disorders and gut health. Additionally, probiotics products have gained tremendous popularity among consumers searching for alternative and natural means to promote intestinal health, thereby positively benefitting its market growth during the forecast period;
- The supplement product type is expected to progress at highest CAGR of 8.9% during the forecast period. With increased instances of health problems including indigestion, irritable bowel syndrome, constipation, chronic pancreatitis, muscle mass gain and obesity, the demand for supplements with probiotics, prebiotics and enzymes is expected to rise;
- The high consumption of fast food and packaged food, sedentary lifestyles, desk-bound jobs and hectic work schedules in developed economies of North America have contributed to digestive problems leading to high consumption of digestive health products. As such, the region accounts for 33.3% of the total market share in 2021; and
- The manufacturers of prebiotics are on the edge to identify the increasing demand for prebiotics across the globe owing to the increasing trend of “Gut Health-Key of Weight Management.” Thus, the segment is expected to progress at a value CAGR of 6.9% during the forecast period.
Digestive health products market growth and trends:
- The rising awareness among consumers regarding diet and health is expected to trigger the overall demand. The growing awareness about the beneficial properties of probiotics globally is expected to drive demand for digestive health products. High awareness, strong presence of manufacturers and inclination toward digestive food are expected to boost the demand in near future;
- The ability of digestive health products to improve the health of consumers by strengthening their immune system, condition of the gut, digestive system along with offering additional nutritional value contributes towards its significant market growth. Additionally, increasing demand for natural and safe products is further expected to bolster the demand for digestive health products; and
- In North America, the market is characterized by the presence of major industry participants who majorly focus on R&D activities. In addition, companies are setting up manufacturing facilities in regions such as Asia Pacific to increase their regional footprint to capture the emerging opportunities in the market.