Digestive Health Products Market: Snapshot
Digestive health products are turning into an inexorably imperative piece of the healthcare situation in various districts because of the expanding mindfulness about the significance of digestive healthcare and the commitment given by digestive health products in keeping up the general health of a person. Digestive health products help keep up a healthy dimension of gastric acids and gut vegetation to empower complete absorption of different supplements and a healthy digestive tract. Health of the digestive tract is a fundamental marker of the person’s general prosperity, because of the extensive effect it has on different other frameworks working in the body.
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The development of a well-educated and prosperous shopper statistic in created locales has been a key driver for the global digestive health products market as of late. Endeavors by healthcare offices to expand mindfulness about digestive health have additionally helped the global digestive health products market, particularly in created nations. Urban territories are probably going to remain the key interest places for the digestive health products market in the coming a very long time because of the higher extra cash of the developing urban working class, making this a key driver for the global digestive health products market.
The global digestive health products market collected revenue of US$1,130.4 mn in 2014 and is expected to attain a value of US$3,381.8 mn by the 2023-end. The market is swelling is expected to expand at a CAGR of 13.0% over the forecast period from 2015 to 2023. The global polylactic acid market collected revenue of US$400.1 mn in 2014 and is expected to reach a value of US$1,358.1 mn by 2023-end. The market is expected to expand at a CAGR of 14.6% over the forecast period.
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Biodegradable Plastics to be Largest Segment in the digestive health products Market
Based on the end use, the digestive health products market is segmented into food and beverage, personal care, pharmaceutical, biodegradable plastics, and others (including detergents). Of these, the biodegradable plastics segment accounted for the leading share with more than 35% in the overall market in 2014. The market is expected to expand with a CAGR of 13.5% over the forecast period from 2015 to 2023. Lactic acid is extensively used in personal care products and in the food & beverages industry.
Based on the end use, the digestive health products market is segmented into packaging, textile, electronics, automotive, biomedical, and others (including printing). Among these, the packaging segment procured leading share in an end-use segment by holding more than 45% share in the revenue of the global polylactic acid market in 2014. This is attributable to the growing demand from electronics, biomedical, textiles, and automotive end-use segments.
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North America to be Leading Region in digestive health products Market
On the geographical front, the digestive health products market are segmented into North America, Latin America, Europe, Asia Pacific, And the Middle East & Africa. Of these, North America held the dominant share of the global lactic acid market in 2014. This growth of the digestive health products market in the region is attributable to the extensive demand for bioplastics. However, the Asia Pacific dominated the digestive health products market and is expected to witness lucrative opportunities for growth of the market in the coming years.
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