Digestive Enzyme Supplements Market Size to Grow at a CAGR of 7.12% During the Forecast Period 20202025

Date

10/21/2020 10:31:20 AM

(MENAFN- iCrowdNewsWire) Oct 21, 2020

Digestive Enzyme Supplements Market size is valued at $992.3Bn by 2019, and is anticipated to grow at a CAGR of 7.12% during the forecast period 2020-2025. The Digestive Enzyme Supplements Market growth rate is attributed to the rising geriatric population, the rising prevalence of gastrointestinal disorders, increasing awareness about GI health, and focus on preventive health management are expected to be the major driving factor of Digestive Enzyme Supplements industry. Digestive enzymes represent a group of enzymes secreted by the digestive organs, for breaking down complex macromolecules into their constituents, in order to facilitate their absorption by the body. From growing awareness regarding the government initiatives regarding increasing innovation and rise in investment for various public and private organizations related to Digestive Enzyme Supplements is anticipated to propel the Digestive Enzyme Supplements Market during the forecast period 2020-2025.

Source Type - Segment Analysis

Animal-derived segment held the largest share in the market. These products are anticipated to witness less growth as compared to other enzyme supplements as they are functional only at high pH levels and are less efficient for aiding digestion in the stomach. However, these products are likely to face challenges, as there is a consumer shift towards vegan food items and they do not prefer these products. In addition, factors such as consumer's sensitiveness and allergies to these products are anticipated to hinder growth over the forecast period 2020-2025.
Moreover, plant-based enzymes accounted for 5.22% of the overall revenue in 2019 and are anticipated to foresee significant growth as these products aid in reducing acid indigestion, heartburn, reflux, and other digestive disturbances. Furthermore, the usability of these products across a wide range of pH levels is likely to expand their application; such trends are expected to aid the industry over the forecast period 2020-2025.

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Application Type-Segment Analysis

On the basis of application, additional supplements segment held the major share of the market in terms of revenue and is expected to grow with a CAGR of 6.12%. The reason attributed is the rising awareness towards weight loss and maintaining a healthy lifestyle among adults & old-age people. Furthermore, increasing expenditure for the development of new supplements is anticipated to augment demand over the forecast period.
However, athletes, sportsmen, bodybuilders, and patients anticipate the application of digestive enzymes in sports nutrition to gain a significant CAGR owing to increasing consumption of these products as a dietary ingredient. Furthermore, increasing number of fitness centers, gymnasiums, and health clubs coupled with growing health consciousness is likely to propel the growth.

By Geography - Segment Analysis

North America dominated the Digestive Enzyme Supplements Market with a share of 37% in 2019. The application of Digestive Enzyme Supplements has grown rapidly over the last few years owing to the increasing usage along with reduced calorie level and high nutritional content. Increasing awareness of nutritional products in Mexico on account of new product launches is anticipated to promote the application of supplements over the forecast period 2020-2025. Furthermore, new product developments and attractive internet campaigns by companies, such as Amway and Herbalife in the U.S., are projected to amplify the demand over the upcoming years.
Asia Pacific is anticipated to witness robust growth over the forecast period, owing to poor dietary habits of the population in countries including India, China, and Japan. In addition, rising expenditure on health enhancing ingredients in light of physical fitness requirements and increasing sports activities in the region is likely to fuel demand over the forecast period.

Drivers – Digestive Enzyme Supplements Market

Rising Demand For Digestive Enzyme Supplements With Rising Geriatric Population And Prevalence Of Gastrointestinal Disorders:

With rising demand for digestive enzyme supplements with rising geriatric population and prevalence of gastrointestinal disorders is expected to drive the Digestive Enzyme. 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. Therefore, with the increasing geriatric population, the market for digestive enzymes is expected to increase, over the forecast period. The demographic trend toward an aging population represents a growing need for the management of disorders, such as GI tract obstructions.

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Challenges – Digestive Enzyme Supplements Market

Various Side-effects and availability of alternatives:

The major challenge for the market is attributed to the various side-effects associated with the digestive enzymes such as GI pain, headache, constipation and diarrhea with improper ingestion of those digestive agents. Furthermore, the availability of various probiotics and its substitutes is anticipated to restrain the growth of Digestive Enzyme Supplements market in the near future.

Digestive Enzyme Supplements Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Digestive Enzyme Supplements Market. In 2019, the top ten players present in the market fragment Digestive Enzyme Supplements Market share. Digestive Enzyme Supplements Market top 10 companies are Klaire Labs, National Enzyme Company, ProteoZymes, Metagenics, Douglas Labs, Integrative Therapeutics, Amway, Advanced Enzyme Technologies, National Enzyme Company, Metagenics, Inc. and others.

Acquisitions/Product Launches

In November 2015, Vox Nutrition launched a new private label digestive enzyme supplement, Digestion Enzyme Pro Blend. The product aims to enhance nutrition absorption, assist the body in breaking down difficult proteins, supports healthy digestion, and helps in relieving reactions of common food intolerances.
In October 2015, XYMOGEN's production site received approval from Therapeutic Goods Administration (TGA), a pharmaceutical regulatory agency based in Australia, and became the exclusive manufacturer of supplements in the U.S. This strategy was implemented to gain market penetration for digestive enzyme supplements in Australia.

Key Takeaways

North America dominated the Digestive Enzyme Supplements Market with a share of 37% in the year 2019.

The factors such large number of aging population suffering with digestive complications, preference for oily and spicy food coupled with rising preference to sports nutrition products among athletes, fitness enthusiast etc. are amongst the major factor projected to impel growth of Digestive Enzyme Supplements Market.

High prevalence of GI disorders, the changing lifestyle, unhealthy eating habits, and high disposable income are the key factors owing to the growth in the segment during forecast period 2020-2025.

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