The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Milk Thistle Supplements. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Milk Thistle Supplements Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Milk Thistle Supplements market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Milk Thistle Supplements
This newly published and insightful report sheds light on Market Insights of Milk Thistle Supplements, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Milk Thistle Supplements Market.
The global milk thistle supplements market is estimated to surpass the value of US$ 178 Mn by 2030 end, gaining significant traction in the diverse herbal supplements industry. The recently published report by Fact.MR estimates that the global milk thistle supplements market is projected to witness a positive growth rate of ~7.4% over the long term forecast period (2020-2030).
One of the active ingredients of milk thistle supplements is silymarin which is known to have antioxidant properties, used to treat liver conditions. In addition, robust sales of herbal supplements in the coming years will bolster global demand for milk thistle supplements market. Furthermore, increasing consumer awareness and proliferating trends around preventive healthcare is anticipated to provide momentum to the global milk thistle supplements market.
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Key Segments Covered in Milk Thistle Supplements Market Study
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By Form :
- Softgel Milk Thistle Supplements
- Milk Thistle Supplements Capsules
- Liquid Milk Thistle Supplements
- Milk Thistle Supplements Tablets
- Milk Thistle Supplement Powder & Granules
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By Sales Channel :
- Milk Thistle Supplements Sales via Drug Stores
- Milk Thistle Supplements Sales via Health & Beauty Stores
- Milk Thistle Supplements Sales via Modern Trade Channel
- Milk Thistle Supplements Sales via Direct Selling
- Milk Thistle Supplements Sales via Third Party Online Channels
- Milk Thistle Supplements Sales via Company Online Channels
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Key Takeaways from the Milk Thistle Supplements Market Study:
- North America is projected to account for 1/3rd of the total spending in the global milk thistle supplements market and is likely to remain a frontrunner over the forecast period.
- Asia Pacific excluding Japan is projected to record an expansion of over 5% during the forecast period. This is on the back of increased utilization of supplements among millennials and gen-x population along with a massive boom in online sales in Asian countries.
- Conventional sales channels such as modern trade and drug stores are likely to lose their combined market share by 2% over the forecast period due to increasing adoption of e-commerce channels coupled with panic consumer purchasing behavior.
- Fluctuations, market volatility and regulatory pressure will shift the key manufacturers’ focus towards offering more transparent and clean label milk thistle supplement products.
- Availability of various forms of milk thistle supplements such as powder, tablets, soft gels, and others will boost the global market for milk thistle supplements by 1.8x.
“Increasing demand for herbal supplements coupled with rising health consciousness shall provide significant momentum to the sales of milk thistle supplements. Also, manufacturers need to focus on introducing more consumer centric products and online brand promotional activities.” says the FACT.MR analyst.
Competitive Landscape
Increasing sales and market share of manufacturers can be achieved by strategic collaborations with consumers. The introduction of new products and technologies will enable end-users to benefit from natural products. By forming a strategic partnership, the company can increase its production capacity.
- In November 2021, with new initiatives coming up next year, dietary supplement firm BYHEALTH is improving the way it provides information related to which products contain which ingredients. Utilizing premium raw materials is one way for the company to ensure consumer safety together with product effectiveness and bioavailability. Raw milk thistle seeds that come with traceability certification will be made available to consumers who purchase the product through JD Tmall flagship stores. Furthermore, every buyer of the product will receive a certificate indicating where the firm seeds of milk thistle were planted. This will be a very creative way to connect with customers.
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More Valuable Insights on Milk Thistle Supplements Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Milk Thistle Supplements, Sales and Demand of Milk Thistle Supplements, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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