Awareness about digestive health has created commendable growth opportunity for the global digestive health products market. The lucrativeness of the market is expected to attract new players into the market in the coming years. The coexistence of established players and the new entrants is anticipated to make the market highly fragmented. Furthermore, the quest of each market player to gain a greater market share would open avenues for the introduction of novelty products into the market. Research and development has transcended as a vital characteristic of the market players who are making rigorous efforts to expand their product portfolio. The support offered by regional governments and large healthcare centers is also enhancing the growth prospects of the market players. PepsiCo Inc., Mondelez International Inc., E. I. DuPont Nemours and Company, Arla Foods Inc.,Yakult Honsha Co. Ltd., General Mills, Chr. Hansen Holding, Nestle SA, Cargill Inc., and Danone SA are amongst the prominent market players.
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The CAGR of the global digestive health products market for the period between 2017 and 2022 is expected to be 3.9%. The market is prognosticated to rise from a market value of US$68.8 bn in 2017 to US$83.5 bn by 2022. Based on product type, the dairy products segment is expected to retain its supremacy over other segments; this segment is expected to reach a value of US$39.3 bn by 2022 as compared to US$30.6 bn in 2017. The widespread popularity of dairy products has placed dairy digestive products at the brink of development. These products have gained traction especially in the emerging economies such as India and China, thus, consolidating the market in Asia Pacific excluding Japan (APEJ). The APEJ market is expected to grow at a CAGR of 5% over the forecast period, placing it at the top of the table. The CAGR for North America and Europe during the same period is anticipated to be 3.7% and 3.2%, respectively.
High Awareness Quotient Solidifies Market Prospects
Awareness regarding digestive health is a nascent phenomenon that is expected to be a major driver for the market. Healthcare centers in the developed regions have commenced numerous awareness campaigns to inform and educate people about the importance of digestive health. This factor, along with the amendments made by various governments to include digestive health in its health policies, is projected to uptick demand within the market. The upper-middle class is showing a propensity to resort to better healthcare facilities, which is another important standpoint for market growth. The gastric acid levels maintained in the body due to the intake of digestive healthcare products is conducive to the digestion of food. This has propelled a number of medical practitioners to recommend the usage of digestive healthcare products. Furthermore, the popularity of dietary supplements and a rise in the income levels of the people is expected to collectively fuel the demand for these products.
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Regional Disparities Could Disrupt Market Growth
Although, the developed nations have succeeded in establishing a strong customer base for digestive healthcare products, the underdeveloped economies are still deprived of their pros. This poses a threat to the global market by bundling a large customer base away from market players. Moreover, the low awareness quotient in the relatively backward regions could hinder market growth. Nevertheless, the concerted efforts of governments and international healthcare entities would keep soaring the prospects of the market. Furthermore, the increase in disposable income in Japan and APEJ is also expected to offer stupendous growth opportunities.