Global Milk Thistle Products Market Overview
As per MRFR analysis, the Milk Thistle Products Market Size was estimated at 1.26 (USD Billion) in 2022. The Milk Thistle Products Market is expected to grow from 1.38 (USD Billion) in 2023 to 2.96 (USD Billion) by 2032. The Milk Thistle Products Market CAGR (growth rate) is expected to be around 8.88% during the forecast period (2024 - 2032).
Key Milk Thistle Products Market Trends Highlighted
Rising health consciousness and increasing demand for natural remedies are driving the Milk Thistle Products Market.
Consumers are becoming more aware of the health benefits of milk thistle, including its antioxidant, anti-inflammatory, and liver-protective properties. This has led to a surge in demand for milk thistle supplements and other products.
Another key trend in the market is the growing popularity of organic milk thistle products. Consumers are increasingly seeking out organic products that are free from harmful chemicals and pesticides.
This trend is expected to continue in the coming years as more and more consumers become aware of the importance of organic farming.
The rising prevalence of chronic diseases is another factor driving the demand for milk thistle products. Milk thistle has been shown to have potential benefits for a variety of chronic diseases, including liver disease, heart disease, and diabetes.
As the global population ages, the prevalence of chronic diseases is expected to increase, which will further drive the demand for milk thistle products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Milk Thistle Products Market Drivers
Rising Prevalence of Liver Diseases
One of the widely spread plant-based drugs in the modern market, namely, milk thistle product, has been used in the herbal tradition to support liver health and protect the liver from damage.
As the occurrence of liver diseases increases worldwide, the usage of milk thistle product is on the rise because it is considered to be the natural remedy.
Growing Awareness of Health Benefits
Consumers are becoming more aware of the health benefits associated with milk thistle, including its antioxidant and anti-inflammatory properties.
Milk thistle products have been shown to reduce inflammation, protect against oxidative stress, and improve liver function. This growing awareness has contributed to the increasing popularity of milk thistle products among health-conscious consumers.
Expansion of the Dietary Supplement Market
The global dietary supplement market presents a high level of growth due to the increasing demand of consumers towards natural and complementary therapies, and a similar trend is observed in the market of milk thistle products as well.
The continuous market expansion guarantees the favorable set of forces for supporting the product’s growth, involving the market, demographic, and the customer forces as well.
Milk Thistle Products Market Segment Insights
Milk Thistle Products Market Product Type Insights
The product type segment of the Milk Thistle Products Market is divided into milk thistle extract, milk thistle supplements, milk thistle tea, milk thistle oil, and milk thistle seeds.
Among these, the milk thistle extract segment is expected to dominate the market during the forecast period with the highest market share throughout the forecast period.
Milk thistle extract has the high concentration of beneficial compounds and silymarin which is the most active and effective components and most important of all, it has the liver-protective effects which work better in the form of extract.
Milk thistle supplements are gaining more demand because they act as an easy form of milk thistle consumption. The milk thistle tea product type, which is available in the market, is drinking and gaining more demand as it is perceived that it has health benefits such as it helps in digestion and reduces inflammation.
The milk thistle oil product type is extracted and is used in the production of skincare products, and it is said that the milk thistle oil has antioxidant and anti-aging properties. The factors that drive the growth of the market are the increase in the awareness of the health benefits of the milk thistle, rise in the disposable incomes and high demand for natural and herbal products.
The market growth is mainly influenced by the increasing amount of liver diseases and the high demand for liver protective supplements. The key players in the Milk Thistle Products Market include Nature's Way, Gaia Herbs, NOW Foods, Solaray, and Swanson Vitamins.
The major players of the market focus on product differentiation, expansion of the products to the new markets and key operations. The market players focus on the research and development investment in the new product launch and improving the quality of existing products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Milk Thistle Products Market Form Insights
The form segment of the Milk Thistle Products Market is categorized into Capsules, Tablets, Powder, Liquid Extract, and Tea Bags. Capsules held the largest market share in 2023, accounting for nearly 38.5% of the global market revenue.
The convenience and ease of administration drive the demand for capsules, as they can be easily swallowed and absorbed by the body. Tablets are another popular form, capturing around 29.2% of the market share.
Their precise dosage and extended shelf life contribute to their popularity. Powder form holds a significant market share of approximately 19.8%, owing to its versatility and affordability.
Consumers can easily add powder to smoothies, juices, or other beverages. Liquid extracts, with a market share of 8.4%, offer a concentrated form of milk thistle and are preferred by individuals seeking quick absorption.
Tea bags, accounting for 4.1% of the market share, provide a convenient and soothing way to consume milk thistle. The growing popularity of herbal teas and the perceived health benefits of milk thistle contribute to the demand for tea bags.
Milk Thistle Products Market Application Insights
The Milk Thistle Products Market segmentation by Application includes Liver Health, Antioxidant Support, Skin Health, Cardiovascular Health, and Detoxification. Liver Health holds the largest revenue share in the Milk Thistle Products Market.
In 2023, the revenue from the Liver Health application segment amounted to around 790 million USD. Milk thistle has been traditionally used for liver support, and extensive research has demonstrated its hepatoprotective effects.
It contains silymarin, a powerful antioxidant that helps protect liver cells from damage caused by toxins, alcohol, and certain medications.
Antioxidant Support is another significant application segment in the Milk Thistle Products Market. Milk thistle is a rich source of antioxidants, including silymarin, which helps neutralize free radicals and protect cells from oxidative stress.
In 2023, the revenue from the Antioxidant Support application segment was estimated to be around 370 million USD. Skin Health is also a growing application segment in the Milk Thistle Products Market. Milk thistle has anti-inflammatory and antioxidant properties that can help soothe and protect the skin.
It has been used topically to treat various skin conditions, including eczema, psoriasis, and acne. In 2023, the revenue from the Skin Health application segment was valued at around 120 million USD.
Cardiovascular Health and Detoxification are other notable application segments in the Milk Thistle Products Market. Milk thistle has been shown to support cardiovascular health by reducing cholesterol levels and improving blood flow. It also helps detoxify the body by stimulating the production of bile, which aids in the removal of toxins.
Milk Thistle Products Market Distribution Channel Insights
The distribution channel segment of the Milk Thistle Products Market plays a crucial role in connecting manufacturers with end-users. Online stores have witnessed a surge in popularity, accounting for a significant share of the market in 2023 and are projected to maintain their dominance in the coming years.
Their convenience, wide product selection, and competitive pricing have made them a preferred choice for consumers. Pharmacies remain a key channel, leveraging their established customer base and reputation for providing trusted healthcare products.
Health food stores cater to health-conscious consumers seeking natural and organic milk thistle products, contributing to a notable market share. Hospitals and clinics also hold a significant presence, primarily driven by the use of milk thistle products in clinical settings.
Milk Thistle Products Market Regional Insights
The Milk Thistle Products Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America and Europe are expected to hold the largest market share in the coming years due to the increasing demand for natural and organic products.
The APAC region is also expected to witness significant growth in the Milk Thistle Products Market owing to the rising disposable income and changing lifestyles of consumers.
South America and MEA are expected to be the fastest-growing regions in the Milk Thistle Products Market due to the growing awareness of the health benefits of milk thistle.
Some statistics suggest that the Milk Thistle Products Market revenue in North America is projected to reach USD 545.6 million by 2024, while the European market is expected to reach USD 423.2 million by the same year.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Milk Thistle Products Market Key Players and Competitive Insights:
Major players in the Milk Thistle Products Market are emphasizing product development and market expansion strategies to gain a competitive edge in the global market.
Collaboration with research institutes and universities for clinical trials and product development is also a key strategy adopted by leading players to enhance their product portfolio and cater to the changing demands of consumers.
Additionally, mergers and acquisitions have been a notable trend in the Milk Thistle Products Market as companies seek to consolidate their market position and expand their geographic reach.
One of the leading players in the Milk Thistle Products Market is Nature's Way, an American company that specializes in the production and distribution of natural health products. Nature's Way offers a wide range of Milk Thistle products, including capsules, tablets, and liquid extracts.
The company has a strong global distribution network and a reputation for quality and reliability. Its commitment to research and development has resulted in the launch of innovative Milk Thistle products, such as Silymarin Complex and Standardized Milk Thistle Extract.
A key competitor in the Milk Thistle Products Market is Solgar, a US-based company that produces and markets a variety of nutritional supplements. Solgar's Milk Thistle products include capsules, softgels, and tablets.
The company has a strong presence in North America and Europe and is expanding its reach into emerging markets. Solgar emphasizes product quality and purity, and its Milk Thistle products are subject to rigorous testing and standardization processes.
The company's focus on research and development has led to the development of specialized Milk Thistle products, such as Milk Thistle Extract with Artichoke and Dandelion and Milk Thistle Complex with Alpha-Lipoic Acid.
Key Companies in the Milk Thistle Products Market Include:
- Nature's Way
- Oregon's Wild Harvest
- Best Naturals
- Kal
- Wise Woman Herbals
- Silibinin Therapeutics
- Irwin Naturals
- Herbal Science Corporation
- Gaia Herbs
- NOW Foods
- Bluebonnet Nutrition
- Planetary Herbals
- Swanson Vitamin
- Solaray
- Herb Pharm
Milk Thistle Products Market Developments
The rising prevalence of liver diseases and the growing awareness of the health benefits of milk thistle are driving the market growth. Additionally, the increasing adoption of herbal and natural remedies is further contributing to the market expansion.
Key industry participants are focusing on product innovation and expanding their geographical presence to gain a competitive edge. Recent developments include the launch of new milk thistle-based supplements and the expansion of distribution channels into emerging markets.
Milk Thistle Products Market Segmentation Insights
- Milk Thistle Products Market Product Type Outlook
- Milk Thistle Extract
- Milk Thistle Supplements
- Milk Thistle Tea
- Milk Thistle Oil
- Milk Thistle Seeds
- Milk Thistle Products Market Form Outlook
- Capsules
- Tablets
- Powder
- Liquid Extract
- Tea Bags
- Milk Thistle Products Market Application Outlook
- Liver Health
- Antioxidant Support
- Skin Health
- Cardiovascular Health
- Detoxification
- Milk Thistle Products Market Distribution Channel Outlook
- Online Stores
- Pharmacies
- Health Food Stores
- Hospitals
- Clinics
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.26(USD Billion) |
| Market Size 2023 |
1.38(USD Billion) |
| Market Size 2032 |
2.96(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.88% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Nature's Way, Oregon's Wild Harvest, Best Naturals, Kal, Wise Woman Herbals, Silibinin Therapeutics, Irwin Naturals, Herbal Science Corporation, Gaia Herbs, NOW Foods, Bluebonnet Nutrition, Planetary Herbals, Swanson Vitamin, Solaray, Herb Pharm |
| Segments Covered |
Product Type, Form, Application, Distribution Channel, Regional |
| Key Market Opportunities |
Functional food and beverage applications Rising consumer awareness Growing demand for natural remedies Expansion into emerging markets Technological advancements |
| Key Market Dynamics |
Consumer Awareness Growing Prevalence of Liver Disorders Technological Advancements Rise in Demand for Natural Remedies Expansion of Distribution Networks |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Milk Thistle Products Market reached USD 1.38 billion in 2023.
The Global Milk Thistle Products Market is projected to exhibit a CAGR of 8.88% from 2024 to 2032.
The Global Milk Thistle Products Market is anticipated to reach USD 2.96 billion by 2032.
North America is expected to account for the largest market share in the Global Milk Thistle Products Market during the forecast period.
The dietary supplements segment is expected to dominate the Global Milk Thistle Products Market during the forecast period.
Key competitors in the Global Milk Thistle Products Market include Nature's Way, Gaia Herbs, Solaray, NOW Foods, and Himalaya Wellness.
Major growth drivers of the Global Milk Thistle Products Market include growing awareness of the health benefits of milk thistle, increasing demand for natural and herbal remedies, and rising disposable income.
competition from synthetic drugs, and potential side effects associated with milk thistle consumption.
Key trends emerging in the Global Milk Thistle Products Market include the development of new product formulations, increasing demand for organic and non-GMO products, and growing popularity of online distribution channels.
Potential opportunities for growth in the Global Milk Thistle Products Market include expanding into emerging markets, developing innovative product applications, and investing in research and development.
