Press release
Global Milk Thistle Supplements Industry is Expected to Grow at a CAGR of 7.06% by 2032
Milk Thistle Supplements Industry
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Market Dynamics
Demand Surge During COVID-19: The pandemic spurred a significant rise in the consumption of supplements aimed at boosting immunity. This trend positively impacted the milk thistle market, as it is well-known for its liver-protective benefits and potential to support overall health.
Popularity in Diabetic Treatments: There is growing interest in using milk thistle supplements for managing diabetes, which is contributing to the increased demand for these products in the capsule form.
Growth Opportunities and Market Trends
Entry of New Players: The market is seeing an influx of new businesses, driven by the rising consumer preference for botanical and herbal products. This trend is expanding the variety of milk thistle supplements available, from traditional capsules and tablets to innovative powders and liquid extracts.
Anti-aging and Skincare Benefits: Milk thistle extracts have become popular in the skincare market due to their anti-aging and anti-inflammatory properties. This has further driven the demand as consumers seek natural products to enhance skin health.
Regional Market Insights
United States: In the U.S., milk thistle supplements are among the top-selling herbal products, with significant growth observed over the past decades. Sales surged by 14% in 2000, reaching USD 8.9 million.
India: Expected to dominate the market by accounting for one-third of global sales, driven by the popularity of traditional Ayurvedic practices and herbal medicine.
United Kingdom: Forecasted to hold 28% of the market share during the forecast period, showcasing strong demand for herbal supplements.
Consumer Preferences and Sales Channels
Online Sales: The shift towards e-commerce has accelerated, with online sales channels, including corporate websites, growing rapidly. Consumers prefer the convenience and variety available online.
Product Forms: Milk thistle supplements are available in various forms, including softgels, capsules, liquids, tablets, and powders, catering to different consumer preferences and ease of use.
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Key Market Drivers
Anti-aging and Anti-inflammatory Demand: Consumers are increasingly looking for supplements that offer skin health benefits, propelling the market for milk thistle products.
Herbal Supplement Usage: The growing use of herbal supplements for various health benefits, including liver health, drives market growth.
Liver Disease Treatment: Milk thistle is commonly used to treat liver diseases such as chronic hepatitis and liver cirrhosis, further supporting its market demand.
Challenges
Adverse Effects and Regulation: Ensuring the correct dosage and combination of herbal ingredients is crucial to avoid adverse effects, posing a challenge for manufacturers in maintaining product safety and efficacy.
Market Segmentations:
By Form :
Softgel Milk Thistle Supplements
Milk Thistle Supplements Capsules
Liquid Milk Thistle Supplements
Milk Thistle Supplements Tablets
Milk Thistle Supplement Powder & Granules
By Sales Channel :
Drug Stores
Health & Beauty Stores
Modern Trade Channel
Direct Selling
Third Party Online Channels
Company Online Channels
By Region :
Europe
North America
Latin America
Japan
Middle East & Africa
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Competitive Landscape
Strategic Partnerships: Companies are forming strategic relationships to enhance market share and product offerings. Innovations such as new product formats and technology are essential to meet consumer demands.
Key Players: Major companies in the market include Doctor's Best, Nature's Bounty Co., Divine Bounty, Jarrow Formulas Inc., Otsuka Pharmaceutical Co. Ltd., Now Foods, and more.
Future Outlook
The milk thistle supplements market is expected to continue growing robustly, driven by increasing consumer health awareness and the preference for natural and effective supplements. Innovations in product formulation and sustainable practices will be key to future market expansion.
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