Report ID: SQMIG35B2073
Report ID:
SQMIG35B2073 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
64 |
Figures:
75
In 2021, North America had a 33.3% revenue share of the global market. High market share in the region is a result of the region's leading players having a strong presence, government assistance for new product development, and technological improvement in the probiotic and prebiotic space. Additionally, factors such as rising healthcare costs, modifications to food laws that affect label and product claims, quick advances in science and processing technologies, an increase in the number of elderly people, and a growing interest in achieving wellness through diet are driving consumer interest in digestive health products in North America.
In Europe, the market was responsible for a sizeable portion of sales in 2021. High demand for items promoting digestive health in important markets including the UK and Germany. Probiotics' increasing importance is predicted to have a favourable effect on market growth, albeit at a slower rate due to the industries' maturity. Due to aggressive expansion methods used by international competitors and rising consumer awareness of health-beneficial products, the market in Asia Pacific is anticipated to grow at the highest CAGR. The regional market is anticipated to expand as a result of the expanding population, rising disposable income, and rising standard of living, particularly in China and India.
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REQUEST FREE CUSTOMIZATIONDigestive Health Products Market size was valued at USD 47.8 billion in 2019 and is poised to grow from USD 51.7 billion in 2023 to USD 98.4 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
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Report ID: SQMIG35B2073