(2019 – 2024) “Digestive Enzymes Market” Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Digestive Enzymes Analysis. The Digestive Enzymes market is expected to register a CAGR of approximately 7.2% during the forecast period of (2019 – 2024).
Digestive Enzymes Market Report Covers Leading Manufacturers: AbbVie Inc.Allergan PLCAmano Enzyme Inc.Amway CorporationBiotics Research CorporationCountry Life LLCGarden of Life Inc.National Enzyme Company Inc.Johnson & Johnson Inc.
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The Digestive Enzymes Market is expected to grow at a CAGR of 7.2% over the forecast period.
Digestive enzymes represent a group of enzymes secreted by digestive organs for breaking down complex macromolecules into their constituents, in order to facilitate their absorption by the body. Several digestive enzymes are commercially available as dietary supplements and for the management of digestive disorders. Factors such as rising geriatric population, rising prevalence of gastrointestinal disorders, increasing awareness about GI health, and focus on preventive health management are contributing to the market growth. However, the general public’s perception of probiotic and prebiotic products as alternatives to digestive enzymes and stringent regulatory policies could adversely affect the growth of the market.
Rising Geriatric Population and Age-associated GI Disorders are Contributing to Market Growth
The global population is aging rapidly, owing to reduced birth rates and increasing life expectancy. The demographic trend towards an aging population represents a growing need for the management of disorders such as GI tract obstructions. The number of older people is estimated to increase by nearly 60% in the next 15 years, and by 2030, the total number of people above age 65 is expected to be more than a billion, i.e., the geriatric population would represent 12% of the global population. By 2050, this number is expected to cross 1.6 billion, or 16.7% of total population. The secretion of digestive enzymes usually decreases with age, which contributes to high levels of gastric discomfort, lower digestion rates, reduced food consumption, and/or a variety of other GI disorders.
Other factors that are contributing to market growth include the rising prevalence of gastrointestinal disorders, increasing awareness about GI health, and focus on preventive health management.
Perception of Probiotic and Prebiotic Products as Alternatives to Digestive Enzymes is Limiting the Growth of the Market
Probiotic and digestive enzyme supplements are complementary products that can work together to support optimal digestive health. In recent years, owing to increased consumer focus on healthy living and preventive care there has been a growing trend of using probiotics and prebiotics for maintaining general GI health. However, probiotic/prebiotic products and digestive enzymes are often marketed to help in the management of similar digestive issues, when, in fact, they perform a totally different function. This improper marketing has created a perception in the general public that probiotic and prebiotic products can be used as an alternative to digestive enzymes.
Other factors that could potentially impede market growth include stringent regulatory policies.
North America Dominates the Digestive Enzymes Market
In 2017, North America was the largest regional market, in terms of revenue. The increasing prevalence of chronic gastrointestinal diseases, rapidly aging population, growing demand for preventive medicine, and the presence of major market players are primary factors contributing to large market size. Apart from the high prevalence of GI disorders, changing lifestyle, unhealthy eating habits, and high disposable income is contributing to high growth rates.
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Reasons to Purchase Digestive Enzymes Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
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- The regions that are expected to witness the fastest growth during the forecast period.
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