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Antacids Market Analysis, Size, Trends And Forecast 2024-2033
Antacids Market Analysis
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According to The Business Research Company's, The antacids market size has grown steadily in recent years. It will grow from $9.16 billion in 2023 to $9.52 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to historical pricing and accessibility, historical dietary shifts, economic conditions and lifestyle changes, medical advancements and awareness, historical population demographics.
The antacids market size is expected to see steady growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to market competition and industry trends, consumer preferences and brand loyalty, environmental factors and lifestyle changes, emerging health conditions, economic conditions and healthcare spending. Major trends in the forecast period include health consciousness and awareness, technological advancement, consumer preferences for natural remedies, regulatory changes and compliance, rising incidence of digestive disorders.
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Market Drivers and Trends:
Poor lifestyle choices resulting in a higher prevalence of acidity are an important driver for the growth of the antacids market. Poor lifestyle choices involve deskbound jobs, poor quality of sleep, and irregular dietary habits, which result in an increase in the acidity level of the stomach and lead to gastroesophageal reflux disease. According to the American College of Gastroenterology, around 60 million Americans suffer from gastroesophageal reflux disease. This drives the demand for antacids.
Mouth-melting antacid is an emerging trend in the antacid market. Antacids were available in tablet, liquid, and powder form until now, however, researchers have now come up with mouth-melting antacids which are made up of micro-mouth melting granules that easily melt in the mouth. These granules present in the antacids act in the form of effervescent. An example of a mouth-melting instant relief antacid is Sunpharma's 'Pepmelt', which integrates the effects of herbal constituents present in it with the contemporary mouth-melting technology.
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Major Key Players of the Market:
Walmart Equate LLC, Private Label, Pfizer Inc, Johnson & Johnson Services Inc., Procter & Gamble Co., Bayer AG, Novartis AG, Sanofi S.A., Bristol Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim GmbH, Reckitt Benckiser Group plc, WellSpring Pharmaceutical Corporation, Xiuzheng Pharmaceutical Group Company Limited, Bausch Health Companies Inc., Sun Pharmaceuticals Industries Ltd., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals plc, Alkem Laboratories Ltd., Conba Group Co. Ltd., Chattem Chemicals Inc., China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Thornton and Ross Ltd., McNeil Consumer Pharmaceuticals Co., Advance Pharmaceutical Inc.
Antacids Market 2024 Key Insights:
• The antacids market size is expected to see steady growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%.
• Rising Incidence Of Acidity Due To Unhealthy Lifestyles Boosts Antacids Market
• Mouth-Melting Antacids Revolutionize The Market
• North America was the largest region in the antacids market in 2023
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