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Milk thistle is also known to promote healthy skin. Milk thistle is used in anti-aging products. Apart from that milk thistle is used for controlling cholesterol. Rise in diabetic population across the world is threatening and thus it is triggering the growth of milk thistle market. According to a study in 2006 it has been found that person consuming milk thistle has had a lower cholesterol level. Milk thistle is also known to reduce weight loss. Growing trend of maintaining a good physique is bolstering the growth of milk thistle supplements. Apart from these factors, milk thistle is known to be used for reducing insulin resistance among people with type 2 diabetes. These factors help in triggering the growth of the the global milk thistle supplements market.
Milk thistle is an annual or biennial plant, grown in the northern hemisphere of the globe. It is native to Asia and Europe and its extract is known to have a wide range of health benefits. The extract contains silymarin and is obtained from the seeds of the plant, which aids in the better functioning of the liver and also strengthens the immune system. The extract is highly preferable in the dietary supplement industry as milk thistle extract is consumed in the form of supplements. Along with the growth of the dietary supplements market, the milk thistle supplements market witnesses a concurrent growth.
Constant consumer demand for natural remedies is expected to boost the growth of the milk thistle supplements market. Milk thistle supplements have received tremendous traction recently and following effectual benefits and consumer conviction, the consumer base for milk thistle supplements has expanded exponentially and this is a key factor fuelling the growth of the milk thistle supplements market. Recently Amazon sales reported that milk thistle supplements were their best-selling products. Side-effects linked with conventional and allopathic medicines are also leading consumers to opt for better alternatives such as herbal supplements, which is indirectly boosting the growth of the milk thistle supplements market.
Global Milk Thistle Supplements: Market Segmentation
The milk thistle market is segmented on the basis of form and sales channel.
On the basis of form, the milk thistle supplements market is segmented as-
- soft gels
On the basis of sales channel, the milk thistle supplements market is segmented as-
- Store-Based Retailing
- Convenience Stores
- Discount Stores
- Pharmacy stores
- Independent Small Grocery
Some of the key players operating in the global gluten-free bakery products market are Swanson inc., Now Foods, Jarrow Formulas, Piping Rock Health Products, LLC., Sunergetic, North Fork Nutra, Puritan's Pride, Inc., Doctors Best., Halal-Pharma International Ltd., Nature’s Best, Nested Naturals Inc., IREL Comp. Ltd. Divine Bounty and Rexall Sundown, Inc. among others.
Owing to the effective adoption of the product, manufacturers are launching milk thistle supplements in various flavors to expand consumer base in the milk thistle supplements market. Large online retailers are also offering launch of milk thistle supplements due to consumer demand. All these factors do indicate an immense potential for the milk thistle supplements market.
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In December 2017, Sunshine Supplements, Inc., a manufacturer of nutritional beverages launched new flavors berry and grape in its already existing portfolio of non-caffeinated liquid supplement. The product is loaded with vitamin B, glutathione and milk thistle which aids in the recovery of alcohol hangover and also provides metabolic energy to the body. The milk thistle mainly plays a role in screening the liver against the alcohol.
In November 2016, Divine Bounty, a manufacturer of natural supplements launched its milk thistle capsules on Amazon, an online distributor of grocery and consumer goods. The company offers safe and effective milk thistle supplements and for this reason, have gained a huge popularity amongst consumers. The company’s products are effective against liver diseases, cleansing toxins, and aids in bettering the immune system.
There is vast potential for milk thistle supplements market in the Asia Pacific and Middle East region due to rising disposable income of the consumers. But lack of consumer awareness is a major obstacle to the growth of the milk thistle supplements market. Also, less number of retail outlets offering milk thistle supplements is also hindering the growth of the milk thistle supplements market. Hence, manufacturers have the opportunity to expand their distribution bases in these regions to boost the growth of the milk thistle supplements market. In Europe and North America, where the milk thistle supplements market is already in the saturated phase, manufacturers have the opportunity of introducing these products in various forms, for example, in liquid supplements and in different flavors, which is likely attract the consumers in the children age group, thereby fuelling the growth of the milk thistle supplements market.
Brief Approach to Research
A modelling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the market, including background and evolution
- Macroeconomic factors affecting the market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the market
- Cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players in this market
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on Market Dynamics, Market Size, Market Segments, Demand & Supply Trends, Current Issues and Challenges, Companies and Competitor Landscape, Value Chain, Technology
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