Milk Thistle Extracts Market Size, Share, Growth, And Industry Analysis By Type (>80% Extract, 80% Extract, and Low Concentration Product) By Application (Pharmaceuticals, Health Care Industry, Food & Cosmetics, and Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Milk Thistle Extracts Market Report Overview

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The global milk thistle extracts market size was USD 116.3 million in 2022 and is projected to touch USD 199.9 million by 2031, exhibiting a CAGR of 6.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the milk thistle extracts market growth and demand returning to pre-pandemic levels once the pandemic is over.

Are you aware of the extraordinary health advantages of milk thistle extracts? This remarkable plant has been used for ages to treat a wide range of illnesses, and in today's health-conscious society, its popularity is only increasing. There are now more options than ever for consumers wishing to take advantage of the health advantages of this potent herb, thanks to this growing market. On the market today, there are numerous varieties. Traditional milk thistle extract is produced from the plant's seeds and includes significant amounts of silymarin, a potent antioxidant that helps prevent organ damage to the liver and other tissues.

Standardized extracts contain a set quantity of silymarin, and combination extracts, which also contain other advantageous herbs and nutrients, are two further varieties. You can be confident that you are making a wise decision for your health no matter which kind of milk thistle extract you select. There are various advantages to be had from this amazing plant, from enhancing immunity and battling cancer to decreasing inflammation and increasing liver function. Why not try milk thistle extracts and discover what they can do for you? There has never been a better moment to learn what this incredible plant offers than now, with so many options on the market.

COVID-19 Impact: People’s Increasingly Health-Conscious And Focused On Boosting Their Immune Systems Accelerated Market Growth

The COVID-19 pandemic has significantly impacted this business, and the sector has had some exciting advancements and changes. Demand for natural medicines like milk thistle extracts has increased as individuals become more health-conscious and focused on strengthening their immune systems. As a result, milk thistle extract manufacturing and sales have increased dramatically, creating a highly competitive industry with a large range of products accessible. Additionally, the epidemic has sparked industry innovation, leading businesses to release fresh, enhanced milk thistle extract formulations that are more potent and successful than ever. Even though the COVID-19 pandemic has presented considerable obstacles for many businesses, it has opened up intriguing possibilities for market expansion and innovation.

Latest Trends

"Offering A Range Of High-Quality, Organic Milk Thistle Extracts That Are Free From Any Synthetic Ingredients Boosts The Market Expansion"

As a new trend emerges, this industry is humming with activity. They are among the many natural and organic goods consumers gravitate towards. The milk thistle plant is well known for its liver-protecting capabilities, and as people become more health conscious, they are also becoming more aware of the advantages of natural medicines. Demand for milk thistle extracts has increased. As a result, particularly those free of hazardous chemicals and additions. Consequently, businesses are now providing a selection of premium, organic milk thistle extracts free of artificial additives. This most recent development in this industry is fantastic for individuals looking to naturally enhance their health and well-being.

Milk Thistle Extracts Market Segmentation

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• By Type Analysis

The milk thistle extracts market can be segmented into >80% extract, 80% extract, and low concentration product. Among these, >80% extract is projected to experience rapid growth through 2031.

• By Application Analysis

The market can be divided based on application into the pharmaceuticals, health care industry, food & cosmetics, and others. Pharmaceuticals are expected to hold the most significant milk thistle extracts market share in the upcoming years.

Driving Factors

"Numerous Health Benefits, Including Liver Detoxification And Reducing Inflammation, Propel the Market Expansion"

There is a huge increase in demand for milk thistle extracts, and it makes sense why. They are becoming increasingly well-liked among health-conscious consumers due to their wide range of health advantages, including liver detoxification and the reduction of inflammation. However, this market's expansion is fueled by more than just consumer demand. This market is expanding at a rapid rate due to several important driving forces.

"The Increasing Prevalence Of Liver Diseases Fuel the Market Growth"

The rising incidence of liver illnesses is one of the key elements driving this market's expansion. There is an increasing need for natural supplements like milk thistle extracts that can aid in detoxification and repair as liver illnesses like cirrhosis and hepatitis are rising globally. The demand for these supplements is anticipated to increase as more individuals learn about their advantages. The popularity of alternative medicine is another important motivator. People are turning to alternative medicines like milk thistle extracts to address their health concerns as they grow more disenchanted with mainstream therapy.

Restraining Factors

"The Lack Of Awareness Among Consumers And The Limited Availability Of High-Quality Raw Materials Hinder The Market Growth"

With rising interest in alternative supplements and treatments, this market is flourishing. However, several restraints are impeding this market's expansion. One of the main causes is that customers need to be aware of the possible advantages. The manufacture of them may be impacted by another problem: the need for more high-quality raw materials. Nevertheless , this industry is predicted to expand significantly over the next few years despite these obstacles. Consumers are gradually learning about the medicinal characteristics of milk thistle as more study is done on its possible health benefits.

Milk Thistle Extracts Market Regional Insights

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"North America to Dominate Market Due To Numerous Health Benefits, Including Liver Detoxification And Reducing Inflammation"

Between 2022 and 2031, the milk thistle extracts market will be dominated by North America. Factors driving the market growth in this region include the numerous health benefits, including liver detoxification and reduced inflammation.

Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The increasing prevalence of liver diseases fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Martin Bauer (Germany)
• Indena (Italy)
• Euromed (U.S.)
• Panjin Tianyuan Pharmaceutical (China)
• Panjin Huacheng Pharmacy (China)
• Liverd Pharma (China)
• KEB Biotech (U.S.)
• Shengbo Silymarin (China)
• Bio-Botanica (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.