Analysis of Milk Thistle Supplements market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Milk thistle supplements market concludes that the industry is anticipated to reach US$ 103.14 Mn by 2022.
In future, prospects appear more optimistic, with the industry expected to reach US$ 204 Mn by the end of the assessment period 2022-2032. Projected compounded annual growth rate for the aforementioned period is around 7.06%.
Market Size Value in 2020
US$ 103.15 Mn
Projected Market Forecast Value by 2031
US$ 204 Mn
Global Growth Rate (2021 to 2031)
Market Share of the U.S.
Key Manufacturers of Milk Thistle Supplements Profiled by Fact.MR
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According to Fact.MR, market research and competitive intelligence provider, from 2017 to 2021, the global market for milk thistle has grown at a CAGR of almost 7%. The rising number of herbs within the market has propelled the demand for supplements in the industry, which have prompted consumers to substitute them for traditional medicines.
The market for milk thistle was stimulated by an increased demand for immunity booster herbs and supplements during the outbreak of COVID-19. Increasing popularity of diabetic treatments is predicted to drive the growth of the global market for capsule supplements in the future. Hence the market is likely to surge at a CAGR of 7.06% from 2022-2032.
With the increasing prevalence of chronic diseases, there is a high demand for natural and organic medicines on the market. Increasing awareness about the side effects of certain medications has led to increased demand for ayurvedic treatments. Concerns around the world related to weight loss, diet plans, and medications that reduce weight have fueled a rise in demand for milk thistle extracts.
With the increasing preference for botanical products, several new players are expected to enter the market for milk thistle supplements. Milk thistle extracts have emerged as one of the most popular choices to meet the growing demand for natural and effective skincare products on the market. Increasing demand for anti-aging effects and anti-inflammatory properties in consumers has propelled the market demand for milk thistle in the market.
Various industries are becoming increasingly interested in the use of milk thistle extract by people seeking treatment for liver disorders, biliary disorders, cancers, and other diseases.
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Researchers have studied milk thistle to see how it can be used to treat specific diseases worldwide. Scientists have studied these herbs to treat type 2 diabetic patients by lowering glucose levels in the body. Further testing will be required to determine if the herbs have positive results. Furthermore, researchers have also discovered that milk thistle increases insulin resistance, one of the major factors contributing to type 2 diabetes.
Additionally, a study shows that milk thistle may relieve indigestion symptoms in humans when combined with other supplements. Additionally, studies on milk thistle have shown mixed results regarding the prevention and treatment of liver diseases, such as cirrhosis and hepatitis C.
Milk thistle appears to have mixed benefits for liver health according to research. Research suggests it reduces liver damage and may even promote liver regeneration. Milk thistle has been shown to treat certain types of cirrhosis and chronic hepatitis, which can be caused by alcoholism, autoimmune disease, or viruses.
In some studies, studies have shown that milk thistle may also be able to help people who are suffering from liver problems caused by industrial pollutants such as toluene and xylene.
Additional research should be conducted to quantify the type, frequency, and severity of adverse effects associated with milk thistle preparations. In light of the similar frequency of adverse effects reported in available randomized trials, it needs to be clarified whether adverse effects are specific to dose, particular preparations, or additional herbal ingredients. An analysis of the product content should be reported when adverse effects are reported so that any other drugs, excipients, or contaminants that were within the product can be scrutinized.
A milk thistle supplement is one of the most commonly sold herbal products in the United States. Milk thistle sales, estimated at US$ 8.9 million, increased by 14% in 2000. Milk thistle can be purchased as a dietary supplement in the United States.
The Centers for Disease Control and Prevention USA reports that 52 million Americans (40% of adults) use complementary and alternative medicines. A Harvard Opinion Research Program survey found that most Americans regularly use dietary supplements to boost their immune systems.
As with other herbal ingredients, the Food and Drug Administration has not endorsed or recommended milk thistle as a treatment for any medical condition. Since herbal products such as milk thistle are not classified as drugs and are not supervised by the US Food and Drug Administration, there is presently no regulation of herbal products in the United States.
Even though milk thistle grows wild in many areas of the United States, it is possible to grow this plant or to buy it in supplement form at health food stores to supplement its health benefits. As per Fact.MR, milk thistle sales are likely to comprise 26% of the global market.
According to the World Health Organization, nearly two-thirds of the population use herbal medicine for some aspect of health care in developing countries. The use of herbs is common to all indigenous systems of medicine, as well as to Ayurvedic, homeopathic, naturopathic, traditional oriental, Chinese, and traditional Native American Indian systems.
The growing popularity of ayurvedic centers and traditional practices have led to a surge in demand for milk thistle. The continuous increase in the consumption of ayurvedic tea in these regions has increased the demand for milk thistle extracts on the market.
The increasing number of fatty liver disease, hepatitis, and cancer cases in these regions has prompted them to seek out herbal treatments, thereby increasing the demand for milk thistle in the market. According to estimates put forth by Fact.MR, India is expected to capture almost 33% of total milk thistle supplements revenue.
Milk thistle is sold as a natural health product in these markets. Growing demand for herbal supplements in the UK has propelled the demand for milk thistle in the market. A market share worth 28% is projected for the market in the U.K.
Increasing sports activities and the increase in health supplements that athletes use to build up their strength and immunity have led to a higher demand for milk thistle in these regions. Milk thistle's performance in cosmetics has increased greatly over the years, resulting in a surge in demand in these regions.
A significant increase in the number of diabetic cases in these parts of the world has led to a substantial increase in the demand for herbal treatments to treat the disease in these areas. As a result, the market for milk thistle is experiencing high demand.
In response to the growing need for protein intake by weight lifters, the powdered form of milk thistle has grown in popularity in the market over the past few years. Due to its ability to reduce toxicity build-up, support healthy cell growth and production, and its potential for constant usage, milk thistle is gaining widespread popularity.
The growing trend of detoxification and purification of the body has increased the demand for milk thistles on the market. As pet owners are becoming more aware of the benefits of milk thistle for their pets, the demand for milk thistle products has grown significantly. A significant amount of milk thistles is also consumed in the form of tea or dry granules to treat gastrointestinal disorders, which has dramatically increased the demand for milk thistles. A CAGR of 6% is projected for the powders & granules segment.
Due to an increased number of online pharmacies delivering prescriptions, milk thistle products have become more popular in the market. An increasing number of e-commerce websites have fueled the demand for milk thistle on the market. A shift to e-commerce channels and changing consumer buying behavior is expected to lead to a loss of 2% in market share for traditional sales channels such as modern trade and drug stores during the forecast period.
In recent years, consumers have been looking for herbal remedies to treat certain ailments, which has led to an increase in the demand for online sales of these herbs. The high discount rates on these products, coupled with the ever-expanding range of choices for consumers, has resulted in a huge increase in the number of online sales for these products over the last few years. Manufacturers around the world have adopted online sales strategies to increase the sales of milk thistles on the market to reach customers worldwide.
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Increasing sales and market share of manufacturers can be achieved by strategic collaborations with consumers. The introduction of new products and technologies will enable end-users to benefit from natural products. By forming a strategic partnership, the company can increase its production capacity.
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As of 2022, the global milk thistle market size will be likely worth US$ 103.15 Mn
The global milk thistle supplements industry is expected to grow at a CAGR of 7.06% by 2032.
The milk thistle market is expected to reach nearly US$ 204 million by 2032.
Increasing demand for weight loss supplements and immunity booster beverages are key trends in the global market.
Growing liver disorders and gastrointestinal diseases are driving the global demand for milk thistle in the market.
Major market players include Solgar, Thompsons, Euromed SA, Nature's Bounty Inc. and NOW Health Group Inc.
Milk thistle demand is expected to rise 26% CAGR in the U.S through 2031.
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