Global Milk Thistle Market 2024–2033

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 – 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.

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.

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

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.

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