Global Digestive Enzymes Market: Companies Focus on Innovative Products to Outsmart Competitors, finds TMR
Albany, NY -- (SBWIRE) -- 03/19/2018 -- Some of the prominent companies in the global digestive enzymes market are National Enzyme Company, Country Life LLC., Garden Of Life Inc., Rainbow Light Nutritional Systems Inc., Food State Inc., Biotics Research Corporation, Metagenics, Inc., Matsun Nutrition, Twinlab Corporation, and Abbott Nutrition.
The global market for digestive enzymes is characterized by robust competition at present owing to the presence of numerous small and large manufacturers. It order to prevent their market shares from getting dented and bolster their positions, well-established players are banking upon product innovation by pouring money into research and development. Such companies are also forming partnerships with retail chain companies to up their sales and revenues.
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As per a report by Transparency Market Research, the global market for digestive enzymes was worth US$358.2 mn in 2016. Rising at a solid 13.1% CAGR during the period between 2017 and 2025, the report predicts the market to attain a value of US$1,039.4 mn by 2025.
Depending upon origin, the global market for digestive enzymes can be segmented into animal, plant, and microbial. Among them, the segment of plant held maximum share in the market in 2016. This is because plant based enzymes possess broader pH range of activity than their animal based counterparts. Plant based enzymes such as papain from papaya and bromelain from pineapple have proteolytic activity.
Geography-wise, the key segments of the global market for digestive enzymes are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Currently, North America accounts for most of the share in the market due to the rising instances of digestive disorders among the people and related comorbidities such as diabetes, etc. By the end of 2024, the revenue in the market in North America will likely reach US$421 mn.
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Erratic Eating Habits of People Drive Market
Digestive enzymes are special proteins produced in the pancreas and small intestine. They break down the food we consume into nutrients so that our bodies can absorb the latter. When there are not enough digestive enzymes, our bodies fail to completely digest or absorb nutrients. This can cause uncomfortable digestive symptoms and also result in overall health problems. In order solve the problem, people take digestive health enzymes, which are supplements. Serving to boost the demand for digestive enzymes is the changing lifestyle of people often resulting in erratic eating habits. In addition, growing number of fitness centers and gymnasiums, especially in developing economies in Asia Pacific and Latin America, are also proving beneficial to the market.
Shifting Focus toward Alternatives Hampers Sales
Serving to hinder the global market for digestive enzymes, on the other hand, is the emergence and popularity of alternatives to digestive enzymes supplements. Further, lack of knowledge about the exact dosage amounts also poses a challenge to the swift uptake of the products.
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While manufacturing digestive enzyme supplements, companies are required to comply with various norms laid down by regulatory bodies such as the U.S. Food and Drug Administration (FD), Dietary Supplement Health and Education Act of 1994, and Natural Health Products Regulations. This, to an extent, is damping the market too.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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