Report Code: CMI46517

Published Date: April 2024

Pages: 320+

Category: Healthcare

Report Snapshot

CAGR: 9.1%
112.8M
2023
123.1M
2024
269.5M
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Gaia Herbs
  • NOW Foods
  • Jarrow Formulas
  • Nature’s Bounty
  • Swanson Health Products
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Milk Thistle Market is expected to record a CAGR of 9.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 123.1 Million. By 2033, the valuation is anticipated to reach USD 269.5 Million.

The milk thistle market revolves around the cultivation, processing, and distribution of products derived from the milk thistle plant, primarily known for its potential health benefits. As an herbal supplement, it gained traction for its perceived liver-protective qualities and antioxidant properties.

The market is influenced by consumer trends favouring natural remedies, with key players investing in research, diversification, and sustainable practices. Post-COVID, the market has witnessed increased online presence, focusing on immune health benefits. Overall, it reflects a dynamic industry meeting evolving consumer demand for wellness products and sustainable, natural alternatives.

Milk Thistle Market – Significant Growth Factors

The Milk Thistle Market presents significant growth opportunities due to several factors:

  • Increasing Health Consciousness: Growing awareness of health benefits associated with milk thistle, particularly its potential in liver health and detoxification, is driving consumer interest and demand for related products.
  • Rising Preference for Natural Supplements: The global trend towards natural and herbal supplements has contributed to the popularity of milk thistle, as consumers seek alternatives with perceived holistic benefits and fewer side effects than synthetic options.
  • Research and Development Advancements: Ongoing research into the therapeutic properties of milk thistle, leading to the development of innovative formulations and applications, is enhancing its appeal, and expanding its use in various health-related products.
  • E-commerce Growth: The increasing prevalence of e-commerce platforms has facilitated easier access to milk thistle products, providing consumers with a convenient and efficient way to purchase health supplements.
  • Expanded Product Offerings: The market can capitalize on opportunities to diversify milk thistle products, including combinations with other complementary ingredients or the development of new formulations, catering to a broader range of consumer preferences.

Milk Thistle Market – Mergers and Acquisitions

The Milk Thistle Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Milk Thistle Market include:

  • In 2023, Gencor, a leading health science company, unveiled a novel Ayurvedic blend aimed at promoting liver health. This innovative combination reflects Gencor’s commitment to leveraging Ayurveda for wellness, introducing a holistic solution to support and enhance liver function.
  • In 2021, Gaia Herbs, Inc. introduced “Liver Cleanse Everyday Support,” a new product featuring milk thistle extract. Specifically designed to aid the liver’s natural detoxification, this innovation aligns with the growing consumer focus on holistic wellness and herbal solutions for overall health.
  • In 2022, A proposal seeks to permit the incorporation of milk thistle seed extract (silymarin) as a supplemental ingredient in foods under Canada’s Supplemented Foods Regulations. These regulations, outlined in Division 29, Part B of the Food and Drug Regulations, govern the use and regulation of supplemental ingredients.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Milk Thistle Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Milk Thistle Market Pharmaceutical Waste Management Market Stretcher Chairs Market
CAGR 9.1% (Approx) CAGR 7.8% (Approx) CAGR 5.3% (Approx)
USD 269.5 Million by 2033 USD 65.6 Billion by 2033 USD 365.6 Million by 2033

 Milk Thistle Market – Significant Threats

The Milk Thistle Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Regulatory Challenges: Fluctuating regulatory standards and restrictions on the use of certain herbal supplements pose a threat to the milk thistle market. Evolving regulations may impact product formulations, labelling, and overall market accessibility.
  • Competition from Synthetic Alternatives: The availability of synthetic alternatives for liver health and antioxidant support poses a threat to the milk thistle market. Consumer preferences may shift towards pharmaceutical options, impacting the demand for natural supplements.
  • Quality Control Issues: Inconsistent quality control across the production chain may lead to variations in the efficacy of milk thistle products. Quality concerns, such as contamination or insufficient active ingredients, can erode consumer trust and impede market growth.
  • Limited Scientific Validation: The limited number of well-established clinical studies supporting the efficacy of milk thistle for certain health claims poses a threat. Without robust scientific validation, the market may face scepticism from both consumers and healthcare professionals.
  • Environmental Factors: Climate changes, environmental pressures, and challenges in cultivating milk thistle could impact the supply chain. Unpredictable weather conditions and ecological threats may disrupt production, leading to potential shortages and affecting market stability.

Global Milk Thistle Market 2024–2033 (By Application)

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Category-Wise Insights

By Application:

  • Pharmaceuticals: Milk thistle in pharmaceuticals involves its incorporation into drugs for medicinal purposes, particularly liver-related treatments. Growing research into its therapeutic properties and the development of novel pharmaceutical formulations signal a trend towards expanded applications, with milk thistle becoming a potential component in addressing various health conditions.
  • Dietary Supplements: In dietary supplements, milk thistle is harnessed for its perceived health benefits, notably liver support, and antioxidant properties. A rising consumer preference for natural remedies and increased awareness of holistic well-being drive the growth of milk thistle in the dietary supplements segment.
  • Functional Foods: Functional foods incorporating milk thistle capitalize on their health-promoting properties, targeting consumers seeking both nutrition and well-being benefits. The trend involves the integration of milk thistle into diverse food products, aligning with the demand for convenient, health-enhancing options in the functional foods market.
  • Others: In the “Others” category, milk thistle may find application in diverse products beyond pharmaceuticals, supplements, or functional foods. This category reflects the versatility of milk thistle, with emerging applications and innovative uses that expand its market presence, driven by ongoing research and evolving consumer preferences.

By Form

  • Capsule: Capsules, a prevalent form in the milk thistle market, offer convenient and precise dosages. Trends include the integration of additional herbal ingredients for synergistic benefits and the rise of vegan capsules, aligning with the increasing demand for plant-based products.
  • Powder and Granules: Powder and granule forms of milk thistle cater to diverse consumer preferences, enabling versatility in product applications. Current trends focus on incorporating these forms into smoothies, shakes, and dietary blends for a seamless intake experience.
  • Liquid Extract: Liquid extracts of milk thistle are gaining popularity for their rapid absorption. Current trends emphasize the inclusion of standardized extracts in functional beverages and the development of flavored options to enhance palatability.
  • Lubricating: Lubricating formulations in the milk thistle market may refer to topical applications. A current trend involves the integration of milk thistle in skin care products, leveraging its potential antioxidant and anti-inflammatory properties for skin health.
  • Specialty Oils: Specialty oils, often derived from milk thistle seeds, are recognized for their potential health benefits. Current trends involve the promotion of these oils for culinary use, emphasizing their nutritional value and unique flavor profiles in cooking and salad dressings.
  • Others: The “Others” category may encompass innovative formulations such as milk thistle-infused gummies, patches, or combination products. Trends in this segment include the exploration of creative delivery methods and the integration of milk thistle into novel product categories to diversify consumer choices.

Global Milk Thistle Market 2024–2033 (By Distribution Channel)

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By Distribution Channel

  • Pharmacies/Drugstores: Pharmacies and drugstores are conventional channels offering milk thistle supplements and products. In this segment, the trend involves an increasing demand for trusted and clinically backed formulations, aligning with the preference for professional advice.
  • Health Food Stores: Health food stores cater to the growing trend of consumers seeking natural and organic products. In the milk thistle market, this segment sees a surge in demand for supplements emphasizing overall well-being and clean, plant-based ingredients.
  • Online Retail: Online retail is a rapidly expanding distribution channel for milk thistle products. The trend involves a shift towards convenient e-commerce platforms, enabling consumers to access a wide range of products, compare reviews, and make informed choices from the comfort of their homes.
  • Supermarkets/Hypermarkets: Supermarkets and hypermarkets introduce milk thistle to a broader consumer base. The trend here includes increased visibility and availability of milk thistle products in mainstream retail spaces, meeting the demands of health-conscious shoppers seeking wellness products during routine grocery shopping.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 123.1 Million
Projected Market Size in 2033 USD 269.5 Million
Market Size in 2023 USD 112.8 Million
CAGR Growth Rate 9.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Application, Form, Distribution Channel and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Milk Thistle Market – Regional Analysis

The Milk Thistle Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the milk thistle market is witnessing a trend toward personalized health solutions. Consumers seek products tailored to specific health needs, driving demand for diverse formulations. The region also experiences an increasing interest in sustainable and ethically sourced milk thistle products, aligning with the overall wellness and environmental consciousness prevalent in North American markets.
  • Europe: Europe sees a growing trend in the milk thistle market emphasizing product innovation and variety. Consumers in this region are keen on exploring new formulations and applications, leading to increased research and development activities. Additionally, there is a rising preference for milk thistle as an ingredient in culinary and functional foods, showcasing its versatility beyond traditional supplement forms.
  • Asia-Pacific: In the Asia-Pacific region, the milk thistle market trend is marked by the integration of traditional herbal remedies into modern wellness practices. With a rich history of herbal medicine, consumers in Asia-Pacific countries are increasingly incorporating milk thistle into their daily health routines, contributing to the herb’s popularity as a natural health solution.
  • LAMEA (Latin America, Middle East & Africa): LAMEA experiences a trend in the milk thistle market centred around increasing accessibility and awareness. With a focus on educating consumers about the health benefits of milk thistle, the region observes a gradual rise in demand. Additionally, local cultivation initiatives contribute to a sustainable and localized supply chain, promoting the growth of the milk thistle market in LAMEA.

Global Milk Thistle Market 2024–2033 (By Million)

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Competitive Landscape – Milk Thistle Market

The Milk Thistle Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Gaia Herbs
  • NOW Foods
  • Jarrow Formulas
  • Nature’s Bounty
  • Swanson Health Products
  • Puritan’s Pride
  • Nature’s Way
  • Solaray
  • Source Naturals
  • Herb Pharm
  • Organika Health Products
  • Life Extension
  • Himalaya Wellness
  • Zhou Nutrition
  • Oregon’s Wild Harvest
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants like “Herbal Innovations Inc.” and “Green Wellness” are adopting innovation and development strategies to penetrate the milk thistle market. These companies leverage advanced formulations and unique product offerings, emphasizing sustainability and meeting evolving consumer demands.

Dominant key players such as “Gaia Herbs” and “NOW Foods” maintain their stronghold through continuous innovation, extensive R&D investments, and established brand credibility.

Market dominance is achieved by consistently introducing novel milk thistle products, utilizing effective marketing strategies, and adapting to emerging consumer trends, solidifying their leadership positions in the dynamic herbal supplement landscape.

The Milk Thistle Market is segmented as follows:

By Application

  • Pharmaceuticals
  • Dietary Supplements
  • Functional Foods
  • Others

By Form

  • Capsule
  • Powder and Granules
  • Liquid Extract
  • Lubricating
  • Specialty Oils
  • Others

By Distribution Channel

  • Pharmacies/Drugstores
  • Health Food Stores
  • Online Retail
  • Supermarkets/Hypermarkets

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Milk Thistle Market, (2024 – 2033) (USD Million)
    • 2.2 Global Milk Thistle Market: snapshot
  • Chapter 3. Global Milk Thistle Market – Industry Analysis
    • 3.1 Milk Thistle Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Health Consciousness
      • 3.2.2 Rising Preference for Natural Supplements
      • 3.2.3 Research and Development Advancements
      • 3.2.4 E-commerce Growth
      • 3.2.5 Expanded Product Offerings.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Application
      • 3.7.2 Market Attractiveness Analysis By Form
      • 3.7.3 Market Attractiveness Analysis By Distribution Channel
  • Chapter 4. Global Milk Thistle Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Milk Thistle Market: Company Market Share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Milk Thistle Market – Application Analysis
    • 5.1 Global Milk Thistle Market Overview: By Application
      • 5.1.1 Global Milk Thistle Market Share, By Application, 2023 and 2033
    • 5.2 Pharmaceuticals
      • 5.2.1 Global Milk Thistle Market by Pharmaceuticals, 2024 – 2033 (USD Million)
    • 5.3 Dietary Supplements
      • 5.3.1 Global Milk Thistle Market by Dietary Supplements, 2024 – 2033 (USD Million)
    • 5.4 Functional Foods
      • 5.4.1 Global Milk Thistle Market by Functional Foods, 2024 – 2033 (USD Million)
    • 5.5 Other
      • 5.5.1 Global Milk Thistle Market by Other, 2024 – 2033 (USD Million)
  • Chapter 6. Global Milk Thistle Market – Form Analysis
    • 6.1 Global Milk Thistle Market Overview: By Form
      • 6.1.1 Global Milk Thistle Market Share, By Form, 2023 and 2033
    • 6.2 Capsule
      • 6.2.1 Global Milk Thistle Market by Capsule, 2024 – 2033 (USD Million)
    • 6.3 Powder and Granules
      • 6.3.1 Global Milk Thistle Market by Powder and Granules, 2024 – 2033 (USD Million)
    • 6.4 Liquid Extract
      • 6.4.1 Global Milk Thistle Market by Liquid Extract, 2024 – 2033 (USD Million)
    • 6.5 Lubricating
      • 6.5.1 Global Milk Thistle Market by Lubricating, 2024 – 2033 (USD Million)
    • 6.6 Specialty Oils
      • 6.6.1 Global Milk Thistle Market by Specialty Oils, 2024 – 2033 (USD Million)
    • 6.7 Others
      • 6.7.1 Global Milk Thistle Market by Others, 2024 – 2033 (USD Million)
  • Chapter 7. Global Milk Thistle Market – Distribution Channel Analysis
    • 7.1 Global Milk Thistle Market Overview: By Distribution Channel
      • 7.1.1 Global Milk Thistle Market Share, By Distribution Channel, 2023 and 2033
    • 7.2 Pharmacies/Drugstores
      • 7.2.1 Global Milk Thistle Market by Pharmacies/Drugstores, 2024 – 2033 (USD Million)
    • 7.3 Health Food Stores
      • 7.3.1 Global Milk Thistle Market by Health Food Stores, 2024 – 2033 (USD Million)
    • 7.4 Online Retail
      • 7.4.1 Global Milk Thistle Market by Online Retail, 2024 – 2033 (USD Million)
    • 7.5 Supermarkets/Hypermarkets
      • 7.5.1 Global Milk Thistle Market by Supermarkets/Hypermarkets, 2024 – 2033 (USD Million)
  • Chapter 8. Milk Thistle Market – Regional Analysis
    • 8.1 Global Milk Thistle Market Regional Overview
    • 8.2 Global Milk Thistle Market Share, by Region, 2023 & 2033 (USD Million)
    • 8.3. North America
      • 8.3.1 North America Milk Thistle Market, 2024 – 2033 (USD Million)
        • 8.3.1.1 North America Milk Thistle Market, by Country, 2024 – 2033 (USD Million)
    • 8.4 North America Milk Thistle Market, by Application, 2024 – 2033
      • 8.4.1 North America Milk Thistle Market, by Application, 2024 – 2033 (USD Million)
    • 8.5 North America Milk Thistle Market, by Form, 2024 – 2033
      • 8.5.1 North America Milk Thistle Market, by Form, 2024 – 2033 (USD Million)
    • 8.6 North America Milk Thistle Market, by Distribution Channel, 2024 – 2033
      • 8.6.1 North America Milk Thistle Market, by Distribution Channel, 2024 – 2033 (USD Million)
    • 8.7. Europe
      • 8.7.1 Europe Milk Thistle Market, 2024 – 2033 (USD Million)
        • 8.7.1.1 Europe Milk Thistle Market, by Country, 2024 – 2033 (USD Million)
    • 8.8 Europe Milk Thistle Market, by Application, 2024 – 2033
      • 8.8.1 Europe Milk Thistle Market, by Application, 2024 – 2033 (USD Million)
    • 8.9 Europe Milk Thistle Market, by Form, 2024 – 2033
      • 8.9.1 Europe Milk Thistle Market, by Form, 2024 – 2033 (USD Million)
    • 8.10 Europe Milk Thistle Market, by Distribution Channel, 2024 – 2033
      • 8.10.1 Europe Milk Thistle Market, by Distribution Channel, 2024 – 2033 (USD Million)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Milk Thistle Market, 2024 – 2033 (USD Million)
        • 8.11.1.1 Asia Pacific Milk Thistle Market, by Country, 2024 – 2033 (USD Million)
    • 8.12 Asia Pacific Milk Thistle Market, by Application, 2024 – 2033
      • 8.12.1 Asia Pacific Milk Thistle Market, by Application, 2024 – 2033 (USD Million)
    • 8.13 Asia Pacific Milk Thistle Market, by Form, 2024 – 2033
      • 8.13.1 Asia Pacific Milk Thistle Market, by Form, 2024 – 2033 (USD Million)
    • 8.14 Asia Pacific Milk Thistle Market, by Distribution Channel, 2024 – 2033
      • 8.14.1 Asia Pacific Milk Thistle Market, by Distribution Channel, 2024 – 2033 (USD Million)
    • 8.15. Latin America
      • 8.15.1 Latin America Milk Thistle Market, 2024 – 2033 (USD Million)
        • 8.15.1.1 Latin America Milk Thistle Market, by Country, 2024 – 2033 (USD Million)
    • 8.16 Latin America Milk Thistle Market, by Application, 2024 – 2033
      • 8.16.1 Latin America Milk Thistle Market, by Application, 2024 – 2033 (USD Million)
    • 8.17 Latin America Milk Thistle Market, by Form, 2024 – 2033
      • 8.17.1 Latin America Milk Thistle Market, by Form, 2024 – 2033 (USD Million)
    • 8.18 Latin America Milk Thistle Market, by Distribution Channel, 2024 – 2033
      • 8.18.1 Latin America Milk Thistle Market, by Distribution Channel, 2024 – 2033 (USD Million)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Milk Thistle Market, 2024 – 2033 (USD Million)
        • 8.19.1.1 The Middle-East and Africa Milk Thistle Market, by Country, 2024 – 2033 (USD Million)
    • 8.20 The Middle-East and Africa Milk Thistle Market, by Application, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Milk Thistle Market, by Application, 2024 – 2033 (USD Million)
    • 8.21 The Middle-East and Africa Milk Thistle Market, by Form, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Milk Thistle Market, by Form, 2024 – 2033 (USD Million)
    • 8.22 The Middle-East and Africa Milk Thistle Market, by Distribution Channel, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Milk Thistle Market, by Distribution Channel, 2024 – 2033 (USD Million)
  • Chapter 9. Company Profiles
    • 9.1 Gaia Herbs
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 NOW Foods
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Jarrow Formulas
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Nature’s Bounty
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Swanson Health Products
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Puritan’s Pride
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Nature’s Way
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Solaray
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Source Naturals
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Herb Pharm
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Organika Health Products
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Life Extension
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Himalaya Wellness
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Zhou Nutrition
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Oregon’s Wild Harvest
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Gaia Herbs
  • NOW Foods
  • Jarrow Formulas
  • Nature’s Bounty
  • Swanson Health Products
  • Puritan’s Pride
  • Nature’s Way
  • Solaray
  • Source Naturals
  • Herb Pharm
  • Organika Health Products
  • Life Extension
  • Himalaya Wellness
  • Zhou Nutrition
  • Oregon’s Wild Harvest
  • Others

FAQs

The key factors driving the Market are Increasing Health Consciousness, Rising Preference for Natural Supplements, Research and Development Advancements, E-commerce Growth, Expanded Product Offerings.

The “Pharmaceuticals” had the largest share in the global market for Milk Thistle.

The “Capsule” category dominated the market in 2023.

The key players in the market are Gaia Herbs, NOW Foods, Jarrow Formulas, Nature’s Bounty, Swanson Health Products, Puritan’s Pride, Nature’s Way, Solaray, Source Naturals, Herb Pharm, Organika Health Products, Life Extension, Himalaya Wellness, Zhou Nutrition, Oregon’s Wild Harvest, Others.

“North America” had the largest share in the Milk Thistle Market.

The global market is projected to grow at a CAGR of 9.1% during the forecast period, 2024-2033.

The Milk Thistle Market size was valued at USD 123.1 Million in 2024.

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