Global Milk Thistle Market is expected to witness a positive growth trajectory during 2023–2032, owing to several health-related benefits offered by the product. According to reports, milk thistle is regularly used by people suffering from liver damage due to conditions such as alcoholic liver disease, hepatitis, non-alcoholic fatty liver disease, and even liver cancer.
It is also one of the traditional remedies for neurological conditions including Alzheimer’s and Parkinson’s diseases. Some reports also suggest that the antioxidant effects of silymarin (which is a primary ingredient of milk thistles) may consist of some anticancer effects, which can help people receiving cancer treatment.
Overall, the milk thistle industry is segmented in terms of distribution channel, form, and region.
Based on the distribution channel, the convenience store segment will exhibit a 7% CAGR through 2032. The growth will be due to several benefits, such as being a natural destination retail location, offering an economic boost to the community, not being bounded by local pricing needs, and the availability of franchises. In addition, opening a new convenience store is also quite affordable, which will positively help the segment to further grow.
On the basis of form, the powder and granules segment is slated to be valued at over USD 25 million by 2032. Since milk thistle powder helps in improving the quantity of milk production among lactating women by increasing the production of the hormone prolactin, its demand will grow in the next ten years. In addition, it also helps reduce inflammation, purify the blood, and limit oxidative stress damage in the arteries, promoting heart health and assisting in lowering high cholesterol levels, which will enhance its consumption through 2032.
In the regional context, the Europe milk thistle industry will substantially grow by 2032 end. The growth in the regional market is likely to come from the budding use of milk thistle-based medicines and seeds in countries such as Poland. Apart from this, the presence of leading distributors and manufacturers in the region will also drive business growth.
Furthermore, increasing adaptation of milk thistle as a defense against mushroom poisoning and rabid animal bites will also fuel the product demand. Milk thistle is being used increasingly for treating cancers. As per a report, there will be a 21% increase in the number of cancer patients in the European Union by 2040. This is projected to enhance the industry growth through the coming years.