Milk thistle supplements have gained popularity in recent years due to their potential health benefits. Milk thistle, also known as Silybum Marianum, is a plant native to the Mediterranean region and has been used for centuries as a natural remedy for liver problems. The active ingredient in milk thistle is silymarin, a compound that has been shown to have antioxidant and anti-inflammatory properties.
Market Analysis:
According to a report by Grand View Research, the global milk thistle supplements market size was valued at USD 59.3 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. The growing demand for natural and herbal supplements, coupled with the increasing prevalence of liver diseases, is expected to drive the market growth.
The report further highlights that the capsules segment accounted for the largest market share in 2020, with a revenue of USD 27.1 million. This can be attributed to the ease of consumption and long shelf life of capsules compared to other forms of milk thistle supplements.
North America dominated the milk thistle supplements market in 2020, with a revenue of USD 23.6 million. This can be attributed to the increasing adoption of natural and herbal supplements, coupled with the rising prevalence of liver diseases in the region. The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the increasing awareness about the benefits of milk thistle supplements and the rising healthcare expenditure in the region.
Future Growth Prospects:
The growing demand for natural and herbal supplements is expected to be the key driving factor for the milk thistle supplements market. In addition, the rising prevalence of liver diseases, coupled with the increasing adoption of healthy lifestyles, is expected to drive the market growth.
Moreover, the growing trend of self-medication and self-care is expected to boost the demand for milk thistle supplements in the coming years. With the increasing availability of information on the internet, consumers are becoming more aware of the benefits of natural remedies and are opting for such products.
Furthermore, the increasing focus on research and development activities to explore the potential benefits of milk thistle supplements is expected to create new growth opportunities for market players. For instance, a recent study published in the Journal of Medicinal Food found that milk thistle extract can help improve insulin resistance and blood sugar levels in people with type 2 diabetes.
In conclusion, the milk thistle supplements market is expected to witness significant growth in the coming years, driven by the growing demand for natural and herbal supplements, rising prevalence of liver diseases, and increasing awareness about the potential health benefits of milk thistle supplements. Market players are expected to focus on product innovation and research and development activities to capture a larger market share in the coming years.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.