June 25, 2024

The global Digestive Health Products Market driven by rising awareness about gut health and food intolerances

The global digestive health products market has witnessed significant growth in recent years owing to increasing awareness among consumers regarding gut health and health benefits associated with products supporting digestive health. Digestive health products refer to supplements, prebiotics, and probiotics that support digestive system functioning. The digestive system plays an important role in breaking down food and absorbing nutrients. Common digestive issues such as constipation, heartburn, bloating, indigestion, irritable bowel syndrome (IBS), etc. are driving demand for products offering digestive support. Digestive supplements available in the market contain digestive enzymes, probiotics, prebiotics, and herbal extracts that aid in food breakdown, improve nutrient absorption, support healthy microflora in the gut, and alleviate common digestive problems. The growing knowledge about connections between gut health and overall systemic health has boosted adoption of such supplements for maintaining digestive wellness.

The global Digestive Health Products Market is estimated to be valued at US$ 45 Billion in 2023 and is expected to exhibit a CAGR of 8% over the forecast period 2023-2027, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends witnessed in the global digestive health products market is an increasing number of new product launches. Digestive health product manufacturers are focusing on introduction of specialized and innovative products targeting specific digestive issues to penetrate niche market segments and gain competitive advantage. For instance, in 2020, AOR Canada introduced a line of prebiotic supplements derived from konjac root fiber called Microbiome Max to support digestive and immune health. Similarly, in 2021, Nestle Health Science launched a probiotic supplement called Garden of Life DR. Formulated specifically for irritable bowel syndrome relief and management. Such innovations launched by key players are expected to shape future trends in the global digestive health products market over the forecast period.

Porter’s Analysis

  • Threat of new entrants: Low costs required to enter the market make it easier for new companies to enter the digestive health products market.
  • Bargaining power of buyers: Buyers have high bargaining power in the digestive health products market due to availability of alternative product options.
  • Bargaining power of suppliers: The bargaining power of suppliers is moderate as a few large companies dominate production of raw materials for digestive health products.
  • Threat of new substitutes: Alternatives like herbs, yoga and meditation pose moderate threat of substitution to digestive health products.
  • Competitive rivalry: Intense as major players compete on the basis of product differentiation, innovation and competitive pricing.

Key Takeaways

The global digestive health products market is expected to witness high growth. Growth will be driven by rising gastrointestinal disorders as a result of changing lifestyle and food habits. The global Digestive Health Products Market is estimated to be valued at US$ 45 Billion in 2023 and is expected to exhibit a CAGR of 8% over the forecast period 2023-2027.

The Asia Pacific region is anticipated to witness the fastest growth in the digestive health products market owing to increasing healthcare expenditure and rising disposable income in developing countries. Europe currently dominates the global digestive health products market followed by North America. This is attributed to increasing consumer awareness about digestive health issues and rising demand for natural and herbal products. Presence of developed healthcare infrastructure and advanced medical facilities further support market growth in these regions.

Key players operating in the digestive health products market include Nestle, Arla Foods, Yakult Honsha, Dannon, General Mills, etc. Companies are focusing on new product launches, strengthening distribution networks and increasing online retail sales to gain market share. They also invest heavily in research & development activities to develop advanced products.