New York, USA, Sept. 19, 2023 (GLOBE NEWSWIRE) — Liver Health Supplements Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Liver Health Supplements Market Information By Product, By Dosage Form, And By Region – Forecast Till 2032, the liver health supplements market is projected to grow from USD 9.00 Billion in 2023 to USD 14.23 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2023 – 2032).
The market expansion is being driven by changing lifestyle patterns, including the growing consumption of fast food and alcohol. These behaviors are also contributing to the rising prevalence of liver illnesses, such as fatty liver disease and liver cancer.
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|Market Size in 2032||USD 14.23 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Dosage Form and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Growing liver ailments is driving the market growth|
|Fast food and alcohol consumption have increased as a result of changing lifestyle habits|
Liver Health Supplements Market Competitive Dynamics:
Key Companies in the liver health supplements market include.
- Himalaya Herbal Healthcare
- Gaia Herbs
- Thompson’s (Integria Healthcare)
- Jarrow Formulas, Inc.
- NOW Foods
- Swanson Health Products
- Nature’s Way
- Nature’s Bounty
- Irwins Natural
Liver Health Supplements Market:
The compound annual growth rate (CAGR) of the market for liver health supplements is being propelled by the prevalence of liver illnesses. The market is expected to see significant growth in the coming years as a result of the escalating incidence of liver disorders, including obesity-related conditions, fatty liver disease, liver cancer, and advanced cirrhosis, among the global population.
Moreover, the market participants would have many opportunities to create supplementary products in response to the increasing demand for liver health supplements specifically designed for liver cancer. The market is expected to experience significant growth over the predicted timeframe. During the projected time frame, the sector is expected to benefit from the widespread inclination of the general population to consume alcohol. Moreover, the consumption of a high quantity of sodium-rich and processed food items has the potential to adversely affect liver functionality, while also leading to excessive sugar intake through the consumption of sugary drinks.
Furthermore, the current market trends are influenced by the increasing prevalence of obesity, alcohol use, and fatty liver disease among individuals of all age cohorts. According to the American Liver Foundation, a significant proportion of individuals who engage in high alcohol use, ranging from 90 to 100 percent, are estimated to develop fatty liver. Moreover, the growing utilization of vitamin products among the working population has had a substantial impact on the growth of regional markets. Consequently, the market revenue of liver health supplements is propelled.
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The exorbitant expenses linked to the product may impede market growth over the projected timeframe.
The market has experienced a notable increase in demand for liver health goods as a result of the abrupt onset of the COVID-19 pandemic, leading to a favorable influence on the industry. Consequently, there was a significant increase in the sales of dietary supplements, including protein, vitamins, omega-3 fatty acids, and several other products. COVID-19 presents an elevated susceptibility to severe illness in individuals with advanced age and those with significant pre-existing medical conditions, including liver disease. Therefore, it can be shown that the presence of COVID-19 exacerbates the pre-existing liver illness of patients, thereby leading to an increased need for liver health supplements in the context of the COVID-19 pandemic.
Liver Health Supplements Market Segmentation:
The market was primarily led by the herbal supplements category, which held a significant share of 35% in terms of market value. Herbal medicines frequently use milk thistle, dandelion, turmeric, artichoke leaf, and mushrooms in order to enhance liver function. Consumers choose for milk thistle-based products due to the association between milk thistle and enhanced liver functionality, as evidenced by study findings.
Dosage form Insights
The category of capsules yielded the most revenue. The capsule is a frequently employed pharmaceutical dosage form due to its ability to facilitate the amalgamation of several chemical compounds into a unified unit of administration.
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Liver Health Supplements Market Regional Analysis:
The dominance of the North American liver health supplements market may be attributed to the region’s heightened use of supplements for liver health, along with the escalating prevalence of chronic diseases.
The liver health supplements market in Europe holds the second-largest market share due to the increasing prevalence of chronic liver diseases and the escalating consumption of alcohol. In addition, the growth of the market in this domain may be attributed to the increase in government expenditure on healthcare and the heightened awareness regarding liver health supplements. Moreover, it is worth noting that the German market for liver health supplements had the highest market share, while the liver health supplements market in the United Kingdom shown the most rapid growth among European markets.
The Asia-Pacific Liver Health Supplements Market is expected to see the highest Compound Annual Growth Rate (CAGR) during the years 2023 and 2032. Several factors that have an impact on regional growth include the escalating prevalence of digestive tract illnesses, the rise of disposable money, and the expansion of consumer awareness about nutritious items. Moreover, the increasing popularity among consumers for individualized nutrition is expected to have an impact on the regional market demand for liver health supplements. Furthermore, it is noteworthy that the liver health supplements market in China exhibited dominance in terms of market share, while the Indian market for liver health supplements shown the most rapid growth among all markets in the Asia-Pacific region.
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