Milk Thistle Market Anticipates Substantial Growth with a Projected Value of US$ 316.35 Million by 2033, Showing an Impressive 8.3% CAGR From 2023 to 2033 | Future Market Insights, Inc.

Milk Thistle holds a significant market share globally and is gaining grounds among individuals due to its various formulations, flavors, and health offerings.

NEWARK, Del, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The milk thistle market size is projected to be valued at US$ 97.47 million in 2023 and is expected to rise to US$ 316.35 million by 2033. The sales of milk thistle are expected to grow at a significant CAGR of 8.3% during the forecast period.*Request Milk Thistle Market Sample Report Now! *https://www.futuremarketinsights.com/reports/sample/rep-gb-16934

*Key Insights Covered in the Market Report*

*Growing demand for natural remedies: *The milk thistle market is expected to grow at a considerable rate due to the increasing demand for natural remedies. As consumers have become more aware of the side effects of allopathic drugs, they are turning to natural remedies such as milk thistle supplements.

*Rising popularity of multi-herbal products:* The popularity of multi-herb products is another trend that has positively impacted the milk thistle market. Milk thistle is an important ingredient in many herbal products used to improve immune function, sleep, liver function, digestion, and cardiovascular disease.

*Increased use in therapeutic formulation development:* Milk thistle supplements are used as adjuvants in the development of various therapeutic regimens. They are combined with other natural ingredients such as aloe vera, turmeric, and dandelion to treat a variety of chronic ailments.

*Growth of RTE milk thistle products*: Ready-to-eat (RTE) milk thistle products, as well as private label and processed milk thistle seeds, are gaining popularity among consumers due to the convenience and affordability of consumption.

*Focus on Research and Development*: Milk thistle market players are investing heavily in research and development to improve the effectiveness of milk thistle supplements in treating liver disease. Another focus is on developing innovative solutions to address the gastrointestinal challenges associated with milk thistle supplements for women.

Overall, the milk thistle market is expected to continue growing in the coming years as more consumers turn to natural remedies and multi-herbal products for their various health benefits.

*Key Takeaways from the Milk Thistle Market*

· In terms of form, the milk thistle market is divided into powder and granules, capsules, and liquid extract. In 2021, the liquid extract segment was worth more than US$ 33,000 thousand. This was primarily due to favorable product characteristics such as increased shelf life, increased flavors, and resistance to oxidation.
· One of the most popular herbal supplements in the United States is milk thistle. Milk thistle sales increased by 14% in 2000, to an estimated $8.9 million in 2022. In the United States, milk thistle can be purchased as a dietary supplement.
· In 2021, the pharmacy segment accounted for more than 18% of the milk thistle market. According to the report, this can be attributed to the growing footprint of pharmacy stores in several prominent countries around the world. According to the ABDA, Germany has nearly 20,000 pharmacies for a population of over 80 million people, implying a pharmacy density of 25 stores per 100,000 people.
· Milk thistle demand in Asia Pacific is expected to rise at a 9.0% CAGR as ayurvedic clinics and traditional methods gain popularity. With an ongoing rise in ayurvedic tea consumption in these areas, market demand for milk thistle extracts has increased.

*“In recent study, the steady growth in the Milk Thistle market, driven by increasing consumer awareness of its liver-protective properties. This trend indicates a growing market for Milk Thistle-based supplements and herbal remedies, with promising potential for future expansion”, says **Nandini Roy Choudhury**, Client Partner at Future Market Insights.*

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*Competitive Landscape*

Strategic collaborations with consumers can help manufacturers increase their sales and market share. Natural products are likely to benefit from the introduction of new products and technologies. The company can increase its production capacity by forming a strategic partnership.

· BYHEALTH, a dietary supplement company, is improving the way it provides information about which products contain which ingredients in November 2021, with new initiatives planned for the following year. Using high-quality raw materials is one way the company ensures consumer safety, as well as product effectiveness and bioavailability.
· Milk Thistle 60's is a key milk thistle supplement launched by Blackmores that sells extremely well online. Blackmores Ltd., an Australian company, distributes a wide range of herbal, mineral, and vitamin supplements throughout Asia-Pacific.

*Scope of Report*

*Attribute*   Details
*Forecast Period*   2023 to 2033
*Historical Data Available for*   2018 to 2022
*Market Analysis*   US$ billion for Value
*Key Countries Covered*   The United States, Canada, Germany, The United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa
*Key Segments Covered*   · Form
· Distribution Channel
· Region

*Key Companies Profiled*   Nature's Bounty Co., Sundown Naturals, Jarrow Formula, Inc., 21st Century Healthcare Inc., Puritan's Pride, Swanson Health Products, Bio-Botanica Inc., Blackmores Limited, NOW Foods, Solgar, Inc., Swisse, GNC, Amway Corp
*Report Coverage*   Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
*Customization & Pricing*   Available upon Request

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*Milk Thistle Market Segmentation*

By Form:

· Capsule
· Powder and Granules
· Liquid Extract
· Lubricating
· Specialty Oils
By Distribution Channel:

· Pharmacy Stores
· Hypermarkets/Supermarkets
· Convenience Store
· Online

By Region:

· North America
· Latin America
· Europe
· South Asia & Pacific
· East Asia
· The Middle East & Africa (MEA)

*Author:*

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

*Explore FMI’s related ongoing Coverage in the **Food and Beverage** Domain*

· Milk Ingredients Market Size is expected to grow at a CAGR of 4.4% over the anticipated time period, according to data from Future Market Insights.
· Milk Powder Market is expected to surpass the market valuation of USD 34.5 Billion in 2022 and it is expected to grow at a CAGR of 4.5% by 2022 – 2032
· Milk Protein Hydrolysate Market Share exceeded USD 1.0 Bn in 2022 and is estimated to grow at over 6.9% CAGR between 2022 and 2032. 
· Milk Protein Market Value at USD 11.4 Bn in 2022 and is projected to grow at a CAGR of 5.6% during the forecast period, to reach a value of USD 19.7 Bn by 2032. 
· Plant-based Milk Market size is expected to reach a valuation of US$ 19.8 billion by 2023. It is likely to accelerate with a CAGR of 9.9% from 2023 to 2033.
*About Future Market Insights (FMI) *

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