Liver Health Supplements
In recent news, the Liver Health Supplements Market has been making waves. Its valuation has been revealed to be an impressive USD 9.9 billion, recorded in 2023. As of now, it has been predicted that the sector is going to achieve a CAGR of 5.8% somewhere between 2024 and 2030.
Consequently, the market size will grow by as much as USD 14.69 billion by the latter year. This consistent rise is believed to be due to increasing global awareness concerning liver health and the adoption of supplements in its wake.
A Peak At Liver Health Supplements Market
Liver health supplements primarily contribute to detoxification and focus on optimal liver function. They have gained popularity across the globe on account of various liver disorders.
These include cirrhosis, fatty liver disease, and hepatitis. In the wake of these issues, the global demand for supplements has risen, especially those with natural ingredients like turmeric and milk thistle.
On this note, key players worldwide have taken to leverage strategic acquisitions and advancement in formulations to cater to the growing consumer base. Here is a breakdown to give you a better understanding of how the regional market functions.
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Vietnam
Due to increasing awareness concerning liver diseases and rapid urbanization, there has been a greater demand for supplements. Consumers in Vietnam are searching for products with natural ingredients like milk thistle, which is often used in herbal remedies in the culture.
Thus, companies such as Herbalife Vietnam are diversifying their product portfolios in an attempt to improve their market position.
Thailand
Thailand is witnessing a change in consumer behavior on account of increasing health consciousness, which has driven demand for different herbal-based solutions. Subsequently, businesses, such as Blackmores Thailand have come up with liver health products formulated using herbal ingredients.
Japan
One of the primary leaders in the Liver Health Supplements Market, Japan has seen heightened health consciousness and a sharp increase in liver-related issues.
These have been exacerbated due to pollution and alcohol issues, leading to consumers demanding supplements with natural ingredients like turmeric and milk thistle.
Big Japanese firms, such as Daiichi Sankyo have made strategic acquisitions to expand their offerings and generate enough supply to meet the rising demand.
An Overview Of The Global Market
As of now, the United States is the largest market for these supplements worldwide. This is due to the prevalence of non-alcoholic fatty liver disease (NAFLD) and liver diseases like cirrhosis. Consequently, the demand for science-backed, vegan, and organic supplements is high.
Leading companies, Nature’s Bounty and Herbalife have taken to diversifying their portfolio to ensure ample supply. Meanwhile, Europe is projected to witness significant growth in the same market, with countries like the UK, France, and Germany driving the trend.
Consumers are demanding natural products derived from milk thistle, and Silymarin has become an increasingly popular ingredient. Unilever and Nestle are making efforts to acquire niche and smaller brands to expand their product portfolios and increase their respective market share.
What Does The Future Hold?
The liver health supplements market is on the way to record steady growth, reflective of the changing attitudes of consumers toward preventive healthcare and wellness.
Companies worldwide are targeting innovation and leveraging natural ingredients to concoct research-backed and effective supplements. In addition to this, strategic expansions and acquisitions are set to propel the Liver Health Supplements Market to greater heights.
As awareness of various liver health issues continues to increase across the globe, the projected growth is likely to stand at 14.69 billion by 2030. Companies are readily delving into diversification to adapt and innovate as the Liver Health Supplement Market landscape evolves.
