US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Industry Insights, Market Size, CAGR, High-Level Analysis: Liver Health Supplements MarketThe global liver health supplements market size was valued at USD 707.16 million in 2018 and is expected to register a CAGR of 4.32% during the forecast period. In recent years, changing lifestyle pattern has led to a rise in consumption of fast food and alcohol, contributing to the high prevalence of liver diseases such as liver cancer, fatty liver disease, and others. According to the Centers for Disease Control & Prevention (CDC), in 2018, liver disease was diagnosed in nearly 4.5 million adults in the U.S. Thus, the rising prevalence of liver diseases has increased concerns among consumers about liver health, thereby driving the adoption of the supplements. In U.S., young adults with drinking habits generally consume supplements to maintain liver health. Rising inclination of consumers toward dietary supplements is expected to support the market growth in the forthcoming years. For instance, according to the data published by the Council for Responsible Nutrition (CRN) in September 2019, nearly 77% of Americans reported consumption of dietary supplements. Various initiatives undertaken by the public and private organizations to increase the awareness among consumers about liver health is projected to support the market growth. In March 2019, Amsety, a nutrition company along with Fatty Liver Foundation launched the Kiss & Click campaign. It is designed to increase awareness regrading liver health. Similarly, the British Liver Trust runs campaigns to promote early diagnosis and intervention along with increasing awareness about all types of liver diseases. The Institute of Liver and Biliary Sciences (ILBS) based in Delhi, India undertakes various campaigns to increase awareness about hepatitis and overall health of the organ. In recent years, several developing countries such as China and India have witnessed significant economic growth, which has resulted in an increase in GDP at Purchasing Power Parity (PPP) of these countries. The growth in GDP-PPP has led to the development of a middle-class population in terms of their purchasing power. Due to this, the middle-class population is currently adopting quality health products including supplements. This factor is expected to contribute to the growth of the liver health supplements market. In recent years, manufacturers have increased focus on new product launch to increase their market presence. For instance, in December 2016, Livwell Products LLC launched drinkSMART, a hangover and liver supplement with vitamins. In March 2017, Gaia Herbs launched a line of products, Mushroom plus Herbs Collection. It included five products, namely, Everday Immune, Mental Clarity, Reishi+Turmeric, Cordyceps+, and Liver Defense.
Products InsightsIn 2018, herbal supplements segment held the largest market share of 61.1%. Supplements with herbal ingredients, such as milk thistle, dandelion, artichoke leaf, turmeric, and mushrooms are widely adopted for liver health. Milk thistle-based supplements are widely adopted by consumers as milk thistle has been proved to be beneficial for liver health. Moreover, increasing awareness and benefits about natural products in countries, such as U.S and India is supporting the segment growth. Mushroom based supplements are also anticipated to continue gaining momentum in terms of demand among consumers. Reishi and Chaga mushroom is considered to be ideal herb for detoxification. Vitamins and minerals is anticipated to expand at a highest CAGR of 4.81% over the forecast period. Vitamins, such as Vitamin A, Vitamin D, vitamin E, and Vitamin B12 are beneficial for health of digestive organs. Recently, increasing consumption of vitamin supplements to maintain body health and wellbeing, owing to adoption of sedentary lifestyle; is anticipated to support of the market growth.
Dosage Form InsightsCapsules segment accounted for the largest revenue share of 41.0% in 2018. Capsule is a widely accepted dosage form as it enables the ingredients to mix in a single dosage form. The segment is expected to expand at the fastest CAGR over the forecast period. Capsules provide protection from sensitive ingredients to the stomach lining and reduces gastrointestinal irritation. Growing awareness among consumers regarding the advantage of capsule formulations is further fueling the demand for these supplements in capsule form, boosting the growth of the segment. Tablets as a dosage form are preferred due to their high shelf life. Currently, there many domestic as well as international brands developing liver supplements in the form of capsules and tablets. Moreover, supplements in the form of liquids are becoming popular among the children with diseases of digestive system. Powders segment is expected to register a CAGR of 4.51% over the forecasted period. Various benefits of this dosage form, such as quick absorbability and easy way of consumption among others are anticipated to fuel the demand in near future. These supplements can be mixed in beverages, such as smoothies. Key market players such as the Himalaya Herbal Healthcare is engaged in developing these products in powder dosage form.
Regional Insights of Liver Health Supplements MarketIn 2018, Asia Pacific held the largest market share of nearly 35.5% in terms of revenue. Increasing disposable income, growing prevalence of digestive tract diseases, and rising awareness about nutritional products are some factors contributing to the regional growth. In addition, growing popularity of personalized nutrition among consumers is projected to contribute to the regional demand for liver health supplements. In 2018, U.S. accounted for majority of the regional market share, supported by the high consumer inclination toward nutritional products and rising prevalence of digestive tract diseases. In addition, presence of a large number of nutritional product manufacturers is anticipated to aids to the North America market. In Europe, rising consumption of nutritional products in countries, such as Germany and U.K., is anticipated to promote the adoption of liver health supplements over the forecast period. In addition, rising adoption of vitamin products particularly among working population is expected to have a strong impact on the regional market growth in near future.
Market Share Insights of Liver Health Supplements MarketKey players operating in the market are Himalaya Herbal Healthcare; Natures Craft,Swisse;Thompsons (Integria Healthcare);Enzymedica; Natures Bounty; Jarrow Formulas, Inc.;NOW Foods; Irwins Natural; Gaia Herbs; and NUTRALife. Product launches, product differentiation, and geographical expansion are among the key strategies adopted by these companies for gaining a competitive edge in the market. p2 Segments covered in the report This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global liver health supplements market report on the basis of product, dosage form, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Vitamin & Minerals
- Herbal Supplements
Dosage Form Outlook (Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation and Scope 1.2 Market Definition 1.3 Research Methodology 1.3.1 Information Procurement 220.127.116.11 Purchased database: 18.104.22.168 GVR’s internal database 1.3.2 Primary Research: 1.4 Research Scope and Assumptions 1.5 List to Data SourcesChapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Outlook 2.3 Competiti | read more...