Liver Health Supplements Market: Introduction
- Liver is the largest organ of the body and plays a very important role in removing toxins from the body. It has the ability to spot toxic substances in the body and turn them into harmless material which is later expelled out of the body.
- It regulates blood supply while supporting the smooth & clean blood flow in and around the circulatory system. Liver also communicates with other organs of the digestive system such as the gallbladder, stomach, and spleen.
- Vitamins & minerals and herbal supplements help improve liver health and boost its capacity to carry out various functions
Key Drivers of Global Liver Health Supplements Market
- Increase in prevalence of liver diseases such as fatty liver disease, liver cancer, rise in consumption of alcohol, and high incidence of obesity among children as well as adults primarily drive the global liver health supplements market
- According to the European Association for the Study of the Liver, liver diseases account for nearly two million deaths every year worldwide, out of which one million deaths are due to complications of cirrhosis and remaining one million deaths due to hepatocellular carcinoma and viral hepatitis
- It also stated that globally, nearly two billion people consume alcohol and 75 million of the people are diagnosed with alcohol-use disorders. Furthermore, drug-induced liver injury is a major cause of acute hepatitis.
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Vitamins & Minerals Segment to Account for Major Share of Global Market
- Based on product, the global liver health supplements market can be classified into vitamins & minerals, herbal supplements, and others
- The vitamins & minerals segment is anticipated to dominate the global market, owing to increase in focus on detox and cleaning of vital body organs, extensive number of promotional & marketing activities by companies, and huge funding by investment firms in medical foods. Moreover, an increase in demand for vitamins & minerals for patients in critical care units has been observed which is expected to drive the segment during the forecast period.
- Customers are now preferring liver health supplements provided by popular market players
Over-the-counter (OTC) Segment to Gain Major Share of Global Market
- Based on type, the global liver health supplements market can be classified into over-the-counter (OTC) and prescribed. The over-the-counter (OTC) segment is growing due to rise in emphasis on liver health and increase in number of domestic and international companies offering OTC products.
E-commerce Segment to Offer Significant Opportunities
- Based on distribution channel, the global liver health supplements market can be divided into supermarkets/hypermarkets/food stores, drug stores & pharmacies, convenience stores, e-commerce, and others
- Changing buying patterns of customers, increase in trend toward e-commerce & online purchase, and availability of products at discounted price on online stores are expected to drive the e-commerce segment
North America to Dominate Global Market
- In terms of region, the global liver health supplements market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global liver health supplements market during the forecast period.
- Addiction to drugs, increase in dependence on alcohol, and high percentage of people developing fatty liver disease are key factors projected to drive the market in North America
- As per the National Council on Alcoholism and Drug Dependence (NCADD), in the U.S., 17.6 million people were dependent on alcohol in 2015. Also, 10% to 20% of chronic heavy drinkers developed alcoholic liver disease (ALD) in 2015.
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Key Players Operating in Global Market
The global liver health supplements market is highly fragmented, with a large number of domestic players accounting for majority of the market share. Key players operating in the global 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
- Irwin’s Natural
Global Liver Health Supplements Market: Research Scope
Global Liver Health Supplements Market, by Product
- Vitamins & Minerals
- Herbal Supplements
Global Liver Health Supplements Market, by Type
- Over-the-Counter (OTC)
Global Liver Health Supplements Market, by Dosage Form
Global Liver Health Supplements Market, by Distribution Channel
- Supermarkets/Hypermarkets/Food Stores
- Drug Stores & Pharmacies
- Convenience Stores
Global Liver Health Supplements Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.