Market Trends of Asia-Pacific Digestive Health Supplements Industry
This section covers the major market trends shaping the APAC Digestive Health Supplements Market according to our research experts:
Growing Concern about Gut Health
The rising consumer awareness regarding gut health is anticipated to propel the demand for digestive supplement products. Owing to this demand, the key players are actively offering prebiotic and probiotic supplements in the market to maintain a healthy gut. For instance, in September 2022, PanTheryx, an integrative digestive and immune health company, introduced a probiotic supplement under the brand Truebiotics, which acts as diarrhea support for children and adults. Millennials, being technologically advanced, update themselves with the facts related to health and try to amend their routines and consumption habits accordingly. This is inflating the demand for digestive supplements. This is expected to drive the market for probiotic supplements in the near future. Thus, the market growth and increased interest in gut health products offer a large opportunity for companies focused on developing products targeting gut health conditions. Moreover, the market for probiotics and prebiotic supplements is growing, along with new research developments that can uncover greater knowledge of the microbiome, as well as the value of specific compounds for digestion and a broader range of health benefits.
Escalating Consumer Investment in Preventive Healthcare
In the past few years, Asian consumer spending on health and wellness products has been increasing due to higher per-capita out-of-pocket spending in the healthcare sector. Such trends have prompted consumers to opt for digestive health supplements. Growth in the working population, rising disposable income, and penetration of international brands are the key factors contributing to the increased consumption of digestive health supplements across emerging countries. Moreover, the increasing healthcare expenditure of the Asian population is also anticipated to drive the growth of the Asia-Pacific digestive supplements market. According to the Australian Institute of Health and Welfare, healthcare expenditure in Australia was recorded as an average of USD 7,926 per person and comprised 10.2% of overall economic activity in 2020. Therefore, the increasing healthcare spending is expected to drive sales in the Asia-Pacific digestive health supplements market.
On the other hand, the aging population consumes digestive health supplements to enhance the digestion process owing to the less efficient digestion. For instance, 28.7% of the population in Japan was 65 or older in 2020. Thus, the growing geriatric population in the region is also anticipated to propel the growth of the market studied.
