Consumers have become more conscious regarding personal wellbeing, and aim to proactively improve it through healthy living, rather than through the use of conventional medicines. This increasing health-consciousness associated with consumer willingness to experiment has resulted in the penetration of digestive health supplements into regular health regimens, worldwide.
There is increasing demand for plant botanicals or extracts, owing to the positive impact they inflict upon heath. Prebiotic dietary fibers are good for the colon, and support digestive health in numerous ways. Fructooligosaccharides, inulin, and galactooligosaccharides are universally agreed-upon prebiotics, and are experiencing a rapid rise in demand.
On the back of these factors, global sales of digestive health supplements market are expected to top US$ 18 Bn in 2030. According to the report by Persistence Market Research, the digestive health supplements market is estimated to register a healthy CAGR of over 7% during the forecast period of 2020-2030.
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Key Takeaways from Digestive Health Supplements Market Study
- The global digestive health supplements market represents a moderately consolidated competitive landscape, where a majority of key players maintain their strategic focus on pricing strategy, brand identity, product strategy, digital advertising of products, and remodelling the supply chain network.
- Persistence Market Research identifies Europe as the largest market for digestive health supplements, with a share of 30% through 2030, followed by North America, attributable to the fact that, customers across these regions seek high quality products with satisfactory services, and are more health-conscious nowadays.
- Globally, sedentary lifestyle has taken over a majority of the population, resulting in subsequent ailments and health issues. Thus, increasing demand for digestive health supplements aligned with growth of nutraceuticals is set to result in higher sales of digestive health supplements across the world.
- By form, capsules account for a larger share (more than 4 in 10 sales) as compared to tablets and powder, majorly due to convenience of consumption. In fact, gummies and chews are garnering huge attention among the younger generation.
- By type, at more than 40% share, demand for probiotics will be higher than prebiotics and enzymes.
- After initial logistic hiccups due to the onset of COVID-19, demand for digestive health supplements is soaring on the back of increasing population giving high importance to health and wellness.
“In today’s competitive industry, product innovation and variations within a segment act as prime factors in grabbing the attention of customers, who are in continuous search for new, natural claims, and innovative products. Moreover, players are engaged in bridging the supply-demand gap to cater to the growing needs of customers,” says an analyst at Persistence Market Research.
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COVID-19 Impact on Market
No sooner did the COVID-19 pandemic hit, a majority of health supplement manufacturers increased their production capacity to bridge the supply-demand gap. Complete lockdowns, total shutdown of all industries, and havoc in the industrial space resulted in a dip in production during the pandemic. However, health supplement manufacturers have increased production after lockdowns have got eased, successfully catering to rising demand for digestive health supplements across regions. Demand for health supplements has experienced a steep hike since the 1st quarter of 2020, and is expected to drive sales in the overall health and wellness market going further.
Key Players in Digestive Health Supplements Market
The report underlines groundbreaking insights into the competitive scenario of the digestive health supplements market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain of the global digestive health supplements market include Nestec S.A., Nutrica NV, Alimentary Health Limited, Lonza Group Ltd, Amway, Bayer, Herbalife, NOW Foods, Nature’s Bounty, Garden of Life, Zenwise, HealthForce, and Olly, among others.
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