The global digestive enzyme supplements market size is expected to reach US$ 1847.6 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.1% CAGR between 2019 and 2029. According to the report, surging demand for dietary supplements among consumers in light of health concerns and awareness towards nutraceuticals is anticipated to aid in market expansion over the forecast period. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. Some of these are:
- The estimated value of the market was at US$ 1022 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- The market in North America is expected to dominate the global digestive enzymes supplements market.
- Countries and world capital have been brought under tight lockdown due to Covid-19 outbreak, putting a complete halt to the large industrial chains. Investors worry that the virus ‘global spread will affect the global economy and demand even more.
- The market in Asia-Pacific is expected to account for second-highest revenue share in market.
- Key players are likely to focus on product innovations to stay relevant in developed markets.
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Increasing Prevalence of Intestinal Diseases Driving Growth
Unhealthy lifestyle among the younger population and growing customer inclination towards packaged food have resulted in various digestive problems which is another major factor expected to help growth of the global digestive enzyme supplements market over the forecast period. Growing demand for digestive enzyme supplements to treat various ailments such as digestive diseases, inadequate age-related enzymes, hypochlorhydria, and liver diseases are factors expected to fuel market development.
Animal Origin Segment Captured the Largest Market Share in Origin
The animal origin sub-segment holds the largest market share in the origin segment and is expected to follow the same trend over the forecast period. The major factors that are responsible for the growth of the segment include the efficiency of these animal-derived enzymes in various diseases or conditions, such as pancreatitis, exocrine pancreatic insufficiency, and pancreatic cancer. However, ethical issues associated with animal origin products in some consumers are expected to hamper the segment growth. In addition to this, the allergies and sensitivity of consumers to these animal origin products are also expected to hamper their market growth. The microbial enzyme, on the other hand, is expected to witness the fastest growth rate over the forecast period. This growth rate of the microbial origin products can be attributed to factors, such as low production cost and high enzymatic activity.
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