The North America market for digestive health products was valued at US$24.5 bn in 2017 and is likely to rise to US$29.4 bn by 2022 at a steady CAGR of 3.7%.
Albany, NY -- (SBWIRE) -- 10/17/2017 -- The products in digestive health are becoming popular day by day as they are becoming an important part of people's lives and an inseparable part of healthcare sector. The demand for digestive health products are increasing due to rising awareness among the people and growing elderly population across the globe. In short, digestive health products are vital in maintaining the wellbeing of the individual's health. According to the new research report, "Digestive Health Product Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022," that has been added in the repository of Market Research Reports Search Engine (MRRSE), the global digestive health products market is likely to grow with sluggish Compound Annual Growth Rate of 3.9% during the projected period of five years, i.e. 2017-2022. The global market for digestive health products is expected to be valued at US$ 68.8Bn in 2017 and is likely to achieve the value of US$ 83.5 Bn by the end of 2022.
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Global Digestive Health Products Market- Drivers
Development of knowledgeable consumers is developed regions is one of the most important factor which is contributing the growth of this market
Increasing awareness of people about the digestive health and the several innovative products
Increasing urbanization and rising per capita income in middle class
Development of the nutraceuticals sector that presents new channel for revenue generation
Global Digestive Health Products Market- Segmental Analysis
In 2017, the segment of dairy products is likely to capture more than 44% revenue share and is expected to lead the market in the years to come. In 2017, this segment is anticipated to achieve the value of US$ 30.6 Bn and is likely to grow to US$ 39.3 Bn by the end of 2022, expanding at a CAGR of 5.1%.
With the huge value share of US$ 29.4 Bn in 2022, North America region is expected to lead the market in the years to come. North America region was previously accounted for the value of US$ 24.5 Bn due to stable development of dietary supplements and nutraceuticals sectors. This region is likely to expand at sluggish CAGR of 3.7%. However, if rate of growth is considered, then Asia Pacific excluding Japan is likely to perform well in the global market of digestive health products market. APAC region is likely to record the healthy CAGR of 5% throughout the projected period and projected to reach to US$ 18.1 Bn by the end of 2022.
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Global Digestive Health Products Market- Key Players
Following are some of the key players performing a significant role in the global digestive health products market- PepsiCo Inc., Yakult Honsha Co. Ltd., General Mills, E. I. DuPont Nemours and Company, Cargill Inc., Nestle SA, Danone SA, Arla Foods Inc., Mondelez International Inc., and Chr. Hansen Holding.
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