Milk Thistle Market Size & Share 2023 to 2032
Market Size by Form (Capsule, Powder & Granule, Liquid Extract), by Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Pharmacy, Online) & Forecast.
Report ID: GMI5308
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Published Date: February 2023
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Milk Thistle Market Size
Milk Thistle Market size exceeded USD 90 million in 2022 and is projected to observe around 8% CAGR from 2023 to 2032.
Milk Thistle Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Growing cases of liver diseases and awareness about the medical benefits of milk thistle would drive the market growth. Milk thistle and its derivatives are used to cure liver-associated diseases like cirrhosis, jaundice, hepatitis, and gallbladder. It contains high levels of antioxidant and anti-inflammatory features. With factors like environmental pollutants, drug addiction, excessive alcohol consumption, viral infections, and autoimmune illnesses on a rise, the cases of toxic hepatitis would prevail in the coming years, driving milk thistle demand.
Possible side effects of milk thistle may impede the market demand. Milk thistle may create abdominal discomfort, gas, bloating, diarrhea, and other gastrointestinal issues. Its oral ingestion has been linked to bowel irregularities, anorexia (lack of appetite), and unpleasant or uncomfortable stomach symptoms. People who are also allergic to marigolds, ragweed, daisies, and chrysanthemums are particularly susceptible to milk thistle allergic responses.
Milk Thistle Market Analysis
The milk thistle market share from supermarkets/hypermarkets distribution channel segment is anticipated to cross USD 90 million by 2032. Presence of well-trained personnel that assist customers in meeting their needs and wide product availability will contribute to this growth. Supermarkets and hypermarkets gather a range of products from multiple suppliers. Rising number of supermarket stores across urban localities would boost product reach in the ensuing years. According to estimates, in 2023, there were around 63,348 Supermarkets & Grocery Stores in the US.
The milk thistle market from the capsules segment is expected to surpass USD 90 million by 2032. Milk thistle in capsules form has both anti-inflammatory and antioxidant effects in equal measures. The usage of capsules is more prevalent among consumers compared to powdered form due to its ease of consumption. Other factors like its high vitamin E and C content, has also driven the industry demand.
The COVID-19 pandemic created boosted the demand for medicines that have immunity-boosting properties. Milk thistle supplements include paracetamol-like qualities in addition to other immune-stimulating qualities. It is also gaining popularity as a potential drug to help treat and manage diabetes. According to medical research, milk thistle, when taken in combined with traditional treatment, can improve diabetes. It is also suggested that people with type-2 diabetes can use milk thistle to lower their blood sugar levels.
Asia Pacific milk thistle market size is predicted to record more than 9% CAGR during the forecast timeline, as it is highly used in traditional Chinese medicines to relieve heat and toxicity in the body and also regulate the flow of Qi (life force) in the liver. Typically, milk thistle is used to address issues with the gallbladder and the liver. It has long been employed to dispel heat, eliminate toxins, relax the liver, and increase bile production. Milk thistle also contains glutathione, a strong antioxidant that is naturally created by the body and aids in disease prevention and liver detoxification.
Milk Thistle Market Share
Prominent participants operating across the milk thistle market include
Innovative product launches, strategic partnerships, and much more influence are some of the initiatives used by some of these companies. For instance, in August 2021, Nestle Health Science finalized the acquisition of Solgar Inc., Puritan's Pride, and Nature's Bounty Co. This agreement solidified Nestle's position as a market leader in the VMHS sector and strengthened its hold on the market.
Impact of COVID-19 pandemic
The COVID-19 pandemic had slightly positive impact on the milk thistle industry growth. The product has gained popularity as a potential treatment for COVID-19 as it contains at least 3 anti-Covid-19 substances. The demand for milk thistle extracts is also set to grow in the medical sector as it gains approval as an add-on therapy for various liver diseases.
This milk thistle market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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Market, By Form
Market, By Distribution Channel
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
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C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →