Enjoy complimentary customisation on priority with our Enterprise License!
The milk thistle products market share is expected to increase by USD 83.9 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.1%.
This milk thistle products market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers milk thistle products market segmentations by product (tablets/capsules/softgels, powders/tinctures (P/T), and raw herbs) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The milk thistle products market report also offers information on several market vendors, including A. Vogel AG, Amway Corp., Arkopharma Laboratories, Bio Botanica Inc., Blackmores Ltd., Divine Bounty, Dr. Willmar Schwabe India Pvt. Ltd., Euromed SA, Gaia Herbs Inc., Indena SpA, Indigo Herbs Ltd., Jarrow Formulas Inc., Nested Naturals Inc, NOW Health Group Inc., PipingRock Health Products LLC, Pure Encapsulations LLC, Sunergized LLC, Swanson Health Products Inc., and The Bountiful Co. among others.
Download Report Sample to Unlock the Milk Thistle Products Market Size for the Forecast Period and Other Important Statistics
The health benefits of milk thistle products is notably driving the milk thistle products market growth, although factors such as distribution challenges may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the milk thistle products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Milk Thistle Products Market Driver
The health benefits of milk thistle products is a major factor driving the global milk thistle products market share growth. Milk thistle products are known for their detoxifying properties and are primarily consumed in the form of tablets and capsules. They also offer other health benefits, which drive their demand and consumption. It contains substances, such as the flavonoid silymarin, which can protect the liver from toxins. Silymarin has antioxidant and anti-inflammatory properties that can detoxify toxins, including certain drugs, such as acetaminophen (Tylenol), which can cause liver damage when consumed in high doses. It also boosts cell growth and regeneration: Consumption of alcohol and certain prescribed medications (like antidepressants and cholesterol-lowering medicines) can harm the liver cells. Such damaged cells can be regenerated by silymarin.
Key Milk Thistle Products Market Trend
The rising demand for multiherb products is another factor supporting the global milk thistle products market share growth. Multi-herbs are defined as blends of beneficial herbs that improve heart health, cardiovascular functions, libido, digestion, liver functions, sleep, and immune functions. They are gaining traction among consumers in North America and Western Europe. Milk thistle products are used in association with dandelion, turmeric, and aloe vera to develop different formulas that cure many diseases. For example, in 2020, aSquared Nutrition introduced its new Milk thistle seed powder herb pills (1000 mg Silymarin Extract -200 Capsules), which plays a vital role in helping rid the body of harmful waste and toxins. It is a powerful antioxidant, free radical scavenger and detoxifier that promotes liver toxin removal. Additionally, milk thistle supports heart health, healthy cholesterol levels and may contain anti-aging properties.
Key Milk Thistle Products Market Challenge
The distribution challenges will be a major obstacle for the global milk thistle market share growth during the forecast period. Retail stores such as supermarkets and discount or convenience stores have become important modes of distribution for manufacturers and vendors of milk thistle products. However, retail stores operate at a lower profit margin, which pressurizes the manufacturers from a price point. Retailers demand that manufacturers make frequent and smaller product deliveries to reduce their warehousing costs, a factor disadvantageous for manufacturers. Channel shifts by consumers have also forced manufacturers to develop new skills in category management. Shoppers have shown more inclination toward convenience stores, thereby compelling manufacturers to balance between price and volume
This milk thistle products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global milk thistle market as part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the milk thistle products market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the milk thistle products market encompasses successful business strategies deployed by the key vendors. The milk thistle products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The milk thistle products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the milk thistle products market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
54% of the market’s growth will originate from Europe during the forecast period. US, China, Germany, Italy, and UK are the key markets for milk thistle products market in Europe. Market growth in this region will be faster than the growth of the market in South American regions.
The growing awareness about the health benefits of consuming milk thistle products and the rising number of organized retailing outlets offering milk thistle products will facilitate the milk thistle products market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 adversely affected the growth of the milk thistle products market in Europe. Strict lockdowns were imposed in the UK, France, Germany, Italy, Ireland, and other countries of Europe to limit the spread of COVID-19. This resulted in the closure of manufacturing facilities and offline retail stores, which negatively impacted the demand for milk thistle products in Europe in 2020. However, the demand for milk thistle products increased with the reopening of manufacturing facilities and offline retail stores in the first half of 2021, with the lifting of lockdowns owing to the initiation of vaccination drives across the region.
To gain further insights on the market contribution of various segments Request PDF Sample
The milk thistle products market share growth by the tablets/capsules/softgels segment will be significant during the forecast period. The rising number of organized retailing outlets offering tablets/capsules/soft gels-based milk thistle products and the growing awareness of the health benefits of the consumption of milk thistle products are the major drivers of the global tablets/capsules/soft gels-based milk thistle products market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the milk thistle products market size and actionable market insights on post COVID-19 impact on each segment.
Milk Thistle Products Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.1% |
Market growth 2022-2026 |
$ 83.9 million |
Market structure |
Fragmented |
YoY growth (%) |
10.31 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 54% |
Key consumer countries |
US, China, Germany, Italy, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
A. Vogel AG, Amway Corp., Arkopharma Laboratories, Bio Botanica Inc., Blackmores Ltd., Divine Bounty, Dr. Willmar Schwabe India Pvt. Ltd., Euromed SA, Gaia Herbs Inc., Indena SpA, Indigo Herbs Ltd., Jarrow Formulas Inc., Nested Naturals Inc, NOW Health Group Inc., PipingRock Health Products LLC, Pure Encapsulations LLC, Sunergized LLC, Swanson Health Products Inc., and The Bountiful Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.