The digestive enzymes market was valued at approximately USD 900 million in 2022, and it is expected to reach USD 1,600 million by 2032, registering a CAGR of 5% over the forecast period, 2022-2032. 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.
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Some Important Points 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.
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.
Who is Winning?
Some of the leading players operating in the digestive enzyme supplements market are Allergan PLC, Johnson & Johnson Inc., Amway Corporation, AbbVie Inc., and Biotics Research Corporation, among others.
The increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the globe. The industry is highly competitive in nature owing to low product differentiation in the market. Large numbers of market players are present in the U.S. and Canada.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
Segmentation Analysis of Global Digestive Enzyme Supplements Market
The Global Digestive Enzyme Supplements Market can be segmented on the basis of Origin, Type, Application, and Geography.
By origin :
- Animal
- Plant
- Microbial
By way of application :
- Additional supplements
- Medical & infant nutrition
- Sports nutrition
By enzyme type :
- Carbohydrase
- Protease
- Lipase
- Other Enzyme Types
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Frequently Asked Questions
- What was the market for Digestive Enzyme supplement ingredients worth in 2020?
- At what CAGR is the market poised to expand through 2031?
- How has the performance of Digestive Enzyme supplement ingredients been over the past half-decade?
- What are the drivers of Digestive Enzyme supplement ingredients market?
- Who are the key players operating in the market?
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