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Report
Liver Health Supplements Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 130 Pages I Mordor Intelligence
The Liver Health Supplements Market is expected to grow at the registered CAGR of 5.5% during the forecast period, 2022-2027.
With the sudden impact of COVID-19, the market has witnessed a surge in demand for products that provide liver health, which positively impacted the market. As a result, the sales of supplements such as protein, vitamins, omega-3 fatty acids, and others witnessed immense growth. Moreover, according to the Center for Diseases Control and Prevention (CDC) in February 2021, COVID-19 may pose a greater risk of severe sickness in older adults and persons of any age with major underlying medical disorders, such as liver disease. Thus, COVID-19 worsens the patient's liver disease condition, raising the demand for liver health supplements during COVID-19.
The rising prevalence of liver disorders such as liver cancer, fatty liver, severe cirrhosis, and obesity among the global population would force the market to grow in the coming years. According to the GLOBOCAN data, globally, in 2020, there were around 905,677 (4.7%) new liver cancer cases and 830,180 (8.3%) deaths due to liver cancer. Moreover, the high demand for liver health supplements for liver cancer will create wide opportunities for the market players to produce more supplements. Thus, the market is expected to witness significant growth over the forecast period.
The majority of the population's predisposition for alcohol intake would also benefit the market during the projected period. Furthermore, consuming significant amounts of sugar in the form of soft drinks and a high amount of salted and packaged foods will affect the liver's health, causing it to be damaged. According to the National Institutes on Alcohol Abuse and Alcoholism, in March 2022, 85.6 % aged 18 and above consumed alcohol at some point in their lives. (59.1% of men in this age group and 51.0% of women in this age group). Thus, a rise in alcohol consumption is anticipated to drive the market over the forecast period.
The market is expected to rise due to several public and private activities to raise consumer knowledge about the importance of liver health. For instance, in October 2020, Chennai Lover Foundation (India) launched the "Live(r) your Life" campaign as part of Liver Awareness Month. The month-long campaign aims to raise awareness about liver health and diseases that affect the liver.
Manufacturers have increased their focus on new product launches in recent years to expand their market position. For instance, in August 2020, Sabinsa, a nutraceutical business focusing on Ayurvedic (Indian traditional medicine) components, released LivLonga, a new combination meant to maintain healthy liver function.
Thus, all the aforementioned factors are expected to boost the market over the forecast period. However, the high cost associated with the product may restrain the market over the forecast period.
Liver Health Supplements Market Trends
Herbal Supplements Segment is Expected to Hold Significant Market Share in the Process Component Segment
The herbal supplements segment is expected to account for the largest market share over the forecast period. Herbal supplements containing milk thistle, dandelion, artichoke leaf, turmeric, and mushrooms are frequently used to support liver health. Milk thistle-based supplements are popular among customers because milk thistle has been shown to improve liver health. According to the article titled' Silymarin as Supportive Treatment in Liver Disease: A Narrative Review' published n February 2020 milk thistle's involvement in the treatment of nonalcoholic fatty liver disease (NAFLD), a typical hepatic symptom of metabolic syndrome, milk thistle has been used to cure a variety of liver diseases, including fatty liver disease, hepatitis, and cirrhosis, as well as to protect the liver against environmental toxins. Millions of individuals consume milk thistle to maintain good liver function. Thus, a rise in the adoption and consumption of herbal supplements is anticipated to drive the segment growth over the forecast period.
Furthermore, rising awareness of the benefits of natural products in nations such as the United States and India is boosting the segment's growth. Mushroom-based supplements are also expected to continue gaining traction in customer demand. Reishi and Chaga mushrooms are thought to be excellent detoxifiers.
Thus all factors mentioned above are expected to boost the segment over the forecast period.
North America Holds a Significant Share in the Market and Expected to do Same during the Forecast Period
North America will dominate the overall liver health supplements market throughout the forecast period. Increasing healthcare spending, rising liver disease prevalence and alcohol usage, and improved awareness of nutritional products are the major factors for the growth of the market in the North American Region.
According to the American Cancer Society report from 2022, about 41,260 primary liver cancer and intrahepatic bile duct cancer cases were expected to be diagnosed. Thus, a rise in the prevalence of liver diseases is anticipated to drive the market over the forecast period. Moreover, according to the National Center for Drug Abuse Statistics( NCDAS) from 2022, 6.7% of American adults developed Alcohol Use Disorder (AUD). Along with this, the rising incidence of obesity and growing health awareness among people will enhance the market's growth rate.
However, awareness among individuals about liver care is anticipated to boost the liver supplements market. For instance, in May 2022 American Liver Foundation launched a nationwide screening and public awareness campaign, Think Liver Think Life, to test risk children and adults in all 50 states over the next five years.
Thus, all the aforementioned factors are expected to boost the market in the region over the forecast period.
Liver Health Supplements Market Competitor Analysis
The liver health supplements market includes the leading players such as NUTRALife, Himalaya Herbal Healthcare, Enzymedica, Gaia Herbs, Thompson's (Integria Healthcare), Jarrow Formulas, Inc., and NOW Foods. The supplements market has a wide scope, considering the existing companies.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Liver Diseases Couple with The Rise in Alcohol Consumption
4.2.2 Rise In Health Care Spending
4.3 Market Restraints
4.3.1 High Cost Associated with The Product
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 Product
5.1.1 Vitamin & Minerals
5.1.2 Herbal Supplements
5.1.3 Others
5.2 Dosage Form
5.2.1 Capsules
5.2.2 Tablets
5.2.3 Powder
5.2.4 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 NUTRALife
6.1.2 Himalaya Herbal Healthcare
6.1.3 Enzymedica
6.1.4 Gaia Herbs
6.1.5 Thompson's (Integria Healthcare)
6.1.6 Jarrow Formulas, Inc.
6.1.7 NOW Foods
6.1.8 Swanson Health Products
6.1.9 Nature's Way
6.1.10 Nature's Bounty
6.1.11 Irwins Natural
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