The digestive bitters market is driven by the availability of a greater range of items to consumers through e-commerce channels and the increased expenditure on R&D activities.
PORTLAND, Ore., July 26, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Digestive Bitters Market by type (True Bitter, Aromatic Bitter, and Nutritive Bitter), Packaging (Plastic Bottle, Tetra Pack, Cans and Glass Bottle), and Distribution Channel (Supermarket, Convenience Store, Over the Counter, and Online Store): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global digestive bitters market was valued at $1,350.1 million in 2022, and is projected to reach $2,090.2 million by 2032, registering a CAGR of 4.5% from 2023 to 2032.
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Prime determinants of growth
The digestive bitters market is driven by the availability of a greater range of items to consumers through e-commerce channels and the increased expenditure on R&D activities. The rising bitter deficiency syndrome in American countries use of digestive bitters to cure digestive problems .The increasing alertness of consumers towards the 'self-treating' and 'self-directed' approach surged the demand for digestive bitters. Moreover, the increase in numbers of proactive consumers have increased the demand for digestive bitters as it can be consumed at the initial stage of any digestive problems to prevent them from becoming acute. However, the growing challenges in the regulatory environment restrict the market growth.
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2023 | $1,350.1 Million |
Market Size in 2031 | $2,090.2 Million |
CAGR | 4.5 % |
No. of Pages in Report | 270 |
Segments covered | Type, Packaging, Distribution channel, and Region. |
Drivers | Rise in 'bitter deficiency syndrome' in North American countries. The growing number of 'self-directed' or 'self-treating consumers. Rising frequency of proactive approaches toward treatment and prevention. Increase in the cost of health care. |
Opportunities | Rising investment in R&D activities Increased e-commerce channel proliferation |
Restraints | The growing challenges in the regulatory environment Risk of counterfeit products Rise in deceptive advertising |
The aromatic bitter segment to maintain its leadership status throughout the forecast period
Based on type, the aromatic bitter segment held the highest market share in 2022, accounting for nearly half of the digestive bitters market, and is estimated to maintain its leadership status throughout the forecast period. The growing interest of consumers in natural products as an alternative to conventional medication for numerous health concerns along with increased awareness regarding gut health, have driven the sales of aromatic digestive bitters. Moreover, the pleasant aroma of the aromatic digestive bitters along with numerous flavor profiles has gained consumer attention. The true bitter segment is observed as the fastest-growing segment, registering a CAGR of 5.3%.
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The glass bottle segment to maintain its leadership status throughout the forecast period
Based on packaging, the glass bottle segment held the highest market share in 2022, accounting for nearly one-third of the digestive bitters market, and is estimated to maintain its leadership status throughout the forecast period. The demand for glass bottle has increased as it provide a visually appealing presentation which enhances the overall appeal of the product to the consumers. They are also environmentally friendly as they can be easily recyclable and have less impact on the environment. The tetra pack segment is observed as the fastest-growing segment, registering a CAGR of 5.1%.
The supermarket segment to maintain its leadership status throughout the forecast period
Based on distribution channel, the supermarket segment held the highest market share in 2022, accounting for nearly one-third of the digestive bitters market, and is estimated to maintain its leadership status throughout the forecast period. The availability of different brands of health products along with different formulations of products, is driving the growth of this segment significantly. The increasing popularity of supermarkets due to the convenience provided by them for offering a wide range of products under one roof along with arranging ample parking space with timeless operations is making them a favored option for shopping. The online store segment is observed as the fastest-growing segment, registering a CAGR of 5.1%. The availability of a greater range of items to consumers through e-commerce channels has enhanced the market's awareness of digestive bitters. Consequently, with the entry of more brands and innovative products, the market has become more competitive. In addition, the e-commerce platforms have given small and independent consumers a platform to buy products.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the digestive bitters market, and is likely to dominate the market during the forecast period. Europe is a mature market with a high demand for herbal products for the purpose of medical treatments. The inclination of Western culture towards herbal solutions for aiding purposes has increased the implementation of digestive bitters in the region. Asia-Pacific is observed as the fastest-growing region, registering a CAGR of 5.0%. This is attributed to the increase in the volume of sales for herbal products.
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Leading Market Players:
- Venus Bioceuticals Pvt. Ltd.,
- Quicksilver Scientific, Inc.
- Urban moonshine
- Herbal Supplies Pty Ltd
- Granary Herbs Ltd
- St. Francis Herb Farm
- Botanica
- Zizia Botanicals
- Arete Earth Based Wellness
- Equinox Botanicals
- Flora Health Shop
- Hella Cocktails.
- Bittersberg
- Nature's Way.
- Nanton Neutraceuticals Ltd
The report analyzes government regulations and policies to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting the market growth. These factors include trading prices, intense competition, end users, manufacturers, and suppliers. To understand the market, drivers, restraints, and opportunities are explained in the report.
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