The digestive enzyme supplements market is anticipated to reach US$ 1.9 billion in 2023 and US$ 3.5 billion by 2033. During the projection period, sales of digestive enzyme supplements are anticipated to increase significantly at a CAGR of 6.1%. The following are some of the causes driving the need for digestive enzyme supplements.
Newly released data for Digestive Enzyme Supplement Market Analysis shows that global demand of overall Digestive Enzyme supplement market enjoyed year-on-year (YoY) growth of 5% in 2021.
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Revenues in the animal-origin segment of the Digestive Enzyme Supplements Market grew a robust 4% year over year in 2021. Demand of animal origin segment increased 4% between 2020 and 2021, giving the combined Digestive Enzyme Supplements markets year-over-year growth of 5% in 2021, according to the FMI report titled
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.
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Segmentation Analysis of the 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
Significant Contributions of the Report
- Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
- Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
- Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
- Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistics to gain a competitive edge in the industry
- Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry
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