The global milk thistle supplements market is estimated to surpass the value of US$ 178 Mn by 2030 end, gaining significant traction in the diverse herbal supplements industry. The recently published report by Fact.MR estimates that the global milk thistle supplements market is projected to witness a positive growth rate of ~7.4% over the long term forecast period (2020-2030).
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One of the active ingredients of milk thistle supplements is silymarin which is known to have antioxidant properties, used to treat liver conditions. In addition, robust sales of herbal supplements in the coming years will bolster global demand for milk thistle supplements market.
Furthermore, increasing consumer awareness and proliferating trends around preventive healthcare is anticipated to provide momentum to the global milk thistle supplements market.
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Key Takeaways from the Milk Thistle Supplements Market Study:
- North America is projected to account for 1/3rd of the total spending in the global milk thistle supplements market and is likely to remain a frontrunner over the forecast period.
- Asia Pacific excluding Japan is projected to record an expansion of over 5% during the forecast period. This is on the back of increased utilization of supplements among millennials and gen-x population along with a massive boom in online sales in Asian countries.
- Conventional sales channels such as modern trade and drug stores are likely to lose their combined market share by 2% over the forecast period due to increasing adoption of e-commerce channels coupled with panic consumer purchasing behavior.
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- Fluctuations, market volatility and regulatory pressure will shift the key manufacturers’ focus towards offering more transparent and clean label milk thistle supplement products.
- Availability of various forms of milk thistle supplements such as powder, tablets, soft gels, and others will boost the global market for milk thistle supplements by 1.8x.
“Increasing demand for herbal supplements coupled with rising health consciousness shall provide significant momentum to the sales of milk thistle supplements. Also, manufacturers need to focus on introducing more consumer centric products and online brand promotional activities.” says the FACT.MR analyst.
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Milk Thistle Supplements Market Registers Steady Growth as Investment Opportunities Abound
The global milk thistle supplements market is abound with untapped opportunities and is expected to witness prolific growth across high-potential markets. Manufacturers of milk thistle supplements are primarily focusing on improving their product portfolios by adding new flavors to their already existing portfolio. In addition, volatility fluctuations and regulatory pressure will shift the key manufacturers’ focus towards avenues which have better investment prospects, such as introducing transparent and clean label milk thistle supplement products.
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