|Fastest Growing Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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, with 69.5% consuming alcohol in 2019. (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.
Scope of the Report
As per the scope of the report, Liver health supplements are substances you eat or drink to supplement things such as vitamins, minerals, enzymes, etc. Some supplements come from natural sources such as plants. They come in all forms, from pills to tonics, to powders. Many liver health supplements claim to cleanse and detoxify the liver. The Liver Health Supplements Market is Segmented by Product (Vitamin & Minerals, Herbal Supplements, Others), Dosage Form (Capsules, Tablets, Powder, Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
|Vitamin & Minerals|
Key Market Trends
Herbal Supplements Segment is Expected to Hold Significant Market Share in the Process Component Segment
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 published in the National Library of Medicine in September 2021 by Ted George O, 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.
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North America Holds a Significant Share in the Market and Expected to do Same during the Forecast Period
Increasing healthcare spending, rising liver disease prevalence and alcohol usage, and improved awareness of nutritional products are only a few factors driving regional development.
A research article by Eunsun Kim et al., published in Experimental & Molecular Medicine Journal 2020, stated that globally, hepatocellular carcinoma (HCC) accounts for 90% of primary liver cancer, the fourth most common cause of cancer-related deaths. The incidence rate associated with non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH) is increasing, and the global burden of mortality from hepatocellular carcinoma (HCC) is predicted to reach 1 million deaths annually by 2030. Thus, a rise in the prevalence of liver diseases is anticipated to drive the market over the forecast period.
According to the National Institutes on Alcohol Abuse and Alcoholism in March 2022, alcohol is the third-leading preventable cause of mortality in the United States, with an estimated 95,000 individuals (roughly 68,000 men and 27,000 women) dying each year. 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 January 2020, the British Liver Trust launched a national health awareness campaign called Love Your Liver. This campaign is dedicated to liver health and attempts to promote awareness of liver illness while providing important information on how to care for one's liver.
Thus, all the aforementioned factors are expected to boost the market in the region over the forecast period.
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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. With prevalent FDA regulations, the leading players have an upper edge and continue to dominate the market. Also, the major global players have the geographical reach and high brand awareness among consumers, giving them an upper hand.
In January 2022, Gaia Herbs expanded its operation in North Carolina with more than USD 12 million investment in the infrastructure, equipment, and personnel.
In August 2021, Enzymedica launched Gut Motility, a new artichoke and ginger-based formula that uniquely offers support for healthier GI motility, gastric emptying, and digestion
Table of Contents
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)
5.1.1 Vitamin & Minerals
5.1.2 Herbal Supplements
5.2 Dosage Form
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.3.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Himalaya Herbal Healthcare
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
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Liver Health Supplements Market market is studied from 2019 - 2027.
What is the growth rate of Global Liver Health Supplements Market ?
The Global Liver Health Supplements Market is growing at a CAGR of 5.5% over the next 5 years.
Which region has highest growth rate in Global Liver Health Supplements Market ?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Liver Health Supplements Market ?
Asia-Pacific holds highest share in 2021.
Who are the key players in Global Liver Health Supplements Market ?
Himalaya Herbal Healthcare, NUTRALife, Enzymedica, Gaia Herbs, Jarrow Formulas, Inc. are the major companies operating in Global Liver Health Supplements Market .