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The digestive enzyme market has experienced significant growth in the recent years owing to the increase in prevalence of gastrointestinal disorders such as indigestion, bloating, acid reflux, irritable bowel syndrome amongst others. Digestive enzymes play an important role in the digestion process by breaking down carbohydrates, proteins and fats into smaller, simple forms that can be easily absorbed by the body. With hectic lifestyles and changes in dietary habits, digestive issues have become highly prevalent. Digestive enzyme supplements help improve digestion by providing the body with additional enzymes to deal with malabsorption issues and relieve gastrointestinal discomfort.
The global Digestive Enzyme Market is estimated to be valued at US$ 569 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the digestive enzyme market is the launch of vegetarian and vegan enzyme supplements. With the rising popularity of plant-based diets, there is growing demand for vegetarian and vegan enzyme supplements. Manufacturers are focusing on developing enzyme supplements without animal-derived ingredients in order to cater to this growing consumer segment.Furthermore, the marketing of digestive enzyme supplements for general wellness and not just for treating digestive issues is another major trend. Companies promote enzyme supplements for their various health benefits such as boosting nutrient absorption, supporting weight management efforts and improving energy levels. This is expected to further increase the adoption of enzyme supplements among the health-conscious consumer base. Enhanced product offerings with additional probiotics and prebiotics is also a trend being followed by supplement companies to offer multi-functionality in a single product.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as research and manufacturing of digestives enzymes require significant investment and resources. However, private label players can easily enter by outsourcing manufacturing.
Bargaining power of buyers: The bargaining power of buyers is high as the market has several established brands and buyers can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for digestive enzymes are commoditized and sourced from various suppliers globally.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes for digestive enzymes available in the market.
Competitive rivalry: The competitive rivalry is high due to presence of several global and regional players competing on the basis of product differentiation, prices and marketing strategies.
Key Takeaways
The global digestive enzyme market is expected to witness high growth over the forecast period. The global Digestive Enzyme Market is estimated to be valued at US$ 569 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis
North America is expected to hold the major share in the global digestive enzyme market during the forecast period. Factors such as growing awareness about gastrointestinal disorders, increased spending on digestive health supplements, and presence of major players in the region are driving the market growth.
Key players
Key players operating in the digestive enzyme market are National Enzyme Company, Garden of Life LLC, Country Life LLC, Rainbow Light Nutritional System Inc., Food State Inc., Matsun Nutrition, Metagenics, Inc., TwinLab Corporation, Abbott Nutrition , Amway Corporation.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
