Advancements in diagnostic methods increases the patient pool for digestion related health issues. When paired with the increasing healthcare expenditure by consumers, these factors propel the demand for digestive enzyme supplements.
DUBAI, UAE / ACCESSWIRE / April 22, 2020 / Consumers inclination towards preventive care, and digestive changes increase the demand for enzyme supplements. On this favorable backdrop, the global digestive enzyme supplements market will grow at a strong 6% CAGR during the forecast period (2019-2029). Health conscious consumers are adopting digestive supplements that help maintain their digestive system. Digestive enzyme supplements work towards strengthening the digestive system and promoting good health.
Digestive Enzyme Supplements Market - Key Takeaways
- In 2019, the approximate value of the global digestive enzyme supplements market was pegged at US$ 1022 Million.
- Asia Pacific will be the highest-growth region through 2029, currently accounting for the second largest market value share.
- Animal origin holds the majority market value share of digestive enzyme supplements.
- Microbial enzymes exhibit the highest growth among all origin segments.
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Digestive Enzyme Supplements Market - Key Driving Factors
- Prevalence of ingestion, and heartburn among consumers are prime drivers of growth in the market.
- Unhealthy and hectic lifestyle of working professionals contributes a considerable share of market growth.
- Consumer awareness regarding benefits of nutritional supplements also drives demand for digestive enzyme supplements.
- Increasing geriatric population in North America will continue to present financially rewarding opportunities in this region.
Digestive Enzyme Supplements Market - Key Constraint
- Rigorous laws and government approval procedures create a barrier for product innovation among digestive enzyme supplement manufacturers.
COVID-19 Impact on Digestive Enzyme Supplements Market
Novel coronavirus has held adverse effects for every industry. Amidst ubiquitous lockdowns across countries, manufacturers of digestive enzyme supplements are surviving on cash reserves. Same is the case with every stakeholder in the value chain. From raw material vendors to healthcare professionals that prescribe digestive enzyme supplements. As the world deals with the Covid-19 Pandemic, Q1 and Q2 of the financial year 2020 presents tough challenges. Government relief measures to curb financial losses and prevent further disruption of markets may come to the aid of digestive supplement manufacturers. However, talks about resuming ecommerce practices will provide definite sustainable opportunities for market players.
Following trends after Covid-19 will greatly influence financial recovery for digestive health supplement manufacturers. Consumer trends such as social distancing will continue to bolster ecommerce sales. The resultant emphasis on good health due to the pandemic will increase patient pool across customer segments. Consumer adoption of preventive care is expected to become a major driver for digestive supplements market post Covid-19.
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Competitive Landscape
Research and development of products that cater to both, regulatory requirements and consumer trends is a popular differentiating strategy adopted by major players. Marketing products based on approvals from statutory bodies such as FDA attracts, engages, and generates revenue. Key market players that may influence the competitive landscape are, but not limited to, National Enzyme Company, Danone Nutricia, Klaire Labs, ProteoZymes, Metagenics, Douglas Labs, Amway, Enzymedica Inc., Xymogen Inc. and Integrative Therapeutics.
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