(MENAFN- GlobeNewsWire - Nasdaq) Nutraceuticals Gain in Popularity Globally, Insights and Forecasts Show Increasing Positive Product Sales as Consumers Focus on Wellness
TULSA, Okla., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ladybug Resource Group, Inc.; (OTC PINK: LBRG ), now operating as Ladybug Nutratech , is a leading player in the health and wellness products sector. The company has initiatives for new product lines, strategic acquisitions, and its eCommerce AI-powered platform, NutraBuddy , which is targeted to attract over 10 million users in its first-year post-launch. Ladybug follows the growing nutraceutical market trend with the recent announcement of surpassing $6.0 million USD in revenue for the first half of 2024.
This market trend is a 114% increase in market size, impressive due to the increased consumption by consumers of nutraceuticals to improve health and wellness.
The global nutraceuticals market size was USD 419.93 billion in 2023 and is projected to grow from USD 457.35 billion in 2024 to USD 976.74 billion by 2032 at a CAGR of 9.95% during the forecast period 2024-2032. Moreover, the nutraceuticals market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 163.15 billion by 2032, driven by increased consumer awareness about the benefits of consumption of nutraceuticals to improve health and prevent certain lifestyle diseases.
Nutraceuticals are gaining popularity globally due to the rising awareness of their numerous health benefits among consumers. The growing knowledge regarding these products' ability to prevent or delay the occurrence of various health disorders has contributed to escalating the demand for these products. These products are also becoming remarkably popular among individuals seeking alternative and natural ways to promote and maintain overall health and wellness.
Increasing consumers' concern for their health and wellness positively impacts product sales, which will create a vast opportunity for companies to develop innovative products. This factor is likely to push the market growth over the forecast period. Furthermore, industry players are focusing on market penetration activities such as digitalizing their supply chain, collaborating with celebrities to promote the products, and strengthening their e-commerce platform, which is likely to shape the market in the near future.
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James Kurko, Chairman and CEO of Ladybug Resources Inc., says, "As a Company, we're excited to gain confirmation from an independent analysis report which supports our focus and direction in both growth and sales. This solidifies the initiatives and foundations the Company has established."
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Website: LadybugNutraTech.com OTC Markets: LBRG X (formally Twitter) Linked-In Facebook Instagram
About Ladybug Resource Group Inc.
Ladybug Resource Group Inc ., operating under Ladybug NutraTech, is making great strides to be a leading player in the health and wellness e-commerce sector. With innovative strategies, diverse product offerings, and a commitment to customer and shareholder satisfaction, the company remains at the forefront of its industry.
For further information, please contact:
Ladybug Resource Group Inc.
James P. Kurko
1408 S. Denver Avenue, Tulsa, OK 74119
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