Liver Health Supplements Market: Vitamins & Minerals Segment to Account for Major Share of Global Market
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
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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
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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
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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.
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