Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Digestive Health Supplements Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The digestive health supplements market has grown rapidly in recent years. It will grow from $15.69 billion in 2023 to $17.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to growing awareness of digestive health, increased incidence of digestive disorders, aging population and digestive health concerns, consumer interest in probiotics and prebiotics, rise in functional food and beverage consumption.
The digestive health supplements market is expected to see rapid growth in the next few years. It will grow to $26.61 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to rising demand for personalized nutrition, expansion of e-commerce platforms for supplement sales, research advances in gut microbiome science, increasing focus on preventive healthcare, adoption of digestive health supplements in developing markets. Major trends in the forecast period include innovation in formulations, incorporation of digestive enzymes in supplements, collaboration between supplements and gut health testing, emphasis on natural and organic ingredients, marketing strategies emphasizing gut-brain connection.
The rising prevalence of digestive diseases is expected to propel the growth of the digestive health supplement market going forward. For instance, according to the International Foundation for Gastrointestinal Disorders, irritable bowel syndrome is the most common functional GI disorder, with a prevalence rate of 10-15% globally. Additionally, it is one of the most common conditions that requires a visit to the doctor. Thus, the rising prevalence of digestive diseases will increase sales and awareness of digestive health supplements, thereby driving digestive health supplement market growth.
The increasing demand for fortifying and supplementing food products is expected to propel the growth of the digestive health supplements market going forward. For instance, in February 2022, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the retail sales value of the health and wellness food and beverage sector in the United States increased to $191.9 billion in 2021, compared to $191.7 billion in 2020. In addition, fortified or functional foods and beverages are expected to grow by 15.3%, and the health and wellness category is projected to reach $218.1 billion in 2025, reflecting a 13.8% increase compared to 2021. Therefore, the Increasing demand for fortifying and supplementing food products will drive the growth of the digestive health supplements market.
Product innovation is the key trend gaining popularity in the digestive health supplement market. Major companies operating in the market are introducing technological innovations such as new ingredients and exploring innovative administration forms to cater to the needs of various age groups and sustain their position in the market. For instance, in April 2021, Bausch Health Companies Inc., a US-based pharmaceutical company, launched a unique proprietary blend of five probiotic strain ingredients, ENVIVE, an over-the-counter probiotic supplement that is formulated to strengthen and protect the digestive system.
Major companies operating in the market are focused on developing advanced products such as Probiotic Gummies to enhance it product offerings and increase revenue share in the market. Nutrazee Probiotic Gummies are specially crafted to survive stomach acid and remain stable at room temperature throughout their shelf life, offering convenient and effective gut health support. For instance, in March 2023, Nutrazee, an India-based vegan dietary supplement company, unveiled its latest offering, the Nutrazee Probiotic Gummies for Digestive and Immune Health, with prebiotic fiber to support the growth of beneficial gut bacteria. This new addition to Nutrazee's product portfolio is specifically designed to bolster digestive and immune health for both children and adults. The Nutrazee Probiotic Gummies feature a patented and clinically validated probiotic strain, Bacillus coagulans, known for its potent health benefits. This strain has demonstrated effectiveness in alleviating symptoms of Irritable Bowel Syndrome (IBS) in children, including common issues such as abdominal discomfort, bloating, and stool irregularities, while also enhancing stool consistency.
In May 2022, Glanbia Nutritionals, an Ireland-based nutrition company, acquired Sterling Technology for $60 million. Through this acquisition, Glanbia Nutritionals aims to scale and strengthen its bioactive solutions portfolio to cater to the needs of its customers. Sterling Technology is a US-based bioactive solution manufacturing company that offers product solutions for digestive health, including Tegricel, a solution that uses NSAIDs to keep the digestive tract healthy.
North America was the largest region in the digestive health supplements market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digestive health supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digestive health supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Report Scope
Markets Covered:
1) By Product: Prebiotics; Probiotics; Enzymes; Fulvic Acid; Other Product
2) By Form: Capsules; Tablets; Powders; Liquids; Other Form
3) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Store; Specialty Store; Pharmacies; E-Commerce; Other Distribution Channels
Key Companies Mentioned: Amway Corp.; Bayer AG; Pfizer Inc.; NOW Foods; Alimentary Health Limited
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes
- Amway Corp.
- Bayer AG
- Pfizer Inc.
- NOW Foods
- Alimentary Health Limited
- Garden of Life LLC
- Better Body Co.
- Florastor - Biocodex
- Culturelle - i-Health Inc.
- Pure Encapsulations LLC
- Bio K Probiotic Inc.
- Renew Life Formulas Inc.
- The Nature's Bounty Co.
- Nature Made - Pharmavite LLC
- Align -The Procter & Gamble Company
- Nature's Way Products LLC
- Schiff Nutrition International, Inc.
- SmartyPants Inc.
- Rainbow Light Nutritional systems
- Jarrow Formulas Inc.
- Enzymedica Inc.
- Thorne Research Inc.
- New Chapter Inc.
- Solgar Inc.
- Gaia Herbs Inc.
- MegaFood
- Country Life LLC
- Bluebonnet Nutrition Corporation
- Nature's Plus - Natural Organics Inc.
- Carlson Laboratories Inc.
- Irwin Naturals
For more information about this report visit https://www.researchandmarkets.com/r/iyqiew
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