Global Food Industry Current Scenario and Outlook
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.
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The report offers actionable and valuable market insights of Milk Thistle Supplements capsule. 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 capsule Market across various industries and regions.
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 capsule 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 capsule
This newly published and insightful report sheds light on Market Insights of Milk Thistle Supplements capsule, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Milk Thistle Supplements capsule Market.
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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.
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.
Milk Thistle Supplements Market Registers Steady Growth as Investment Opportunities Abound
The global milk thistle supplements market is abound with untapped opportunities and is expected to witness prolific growth across high-potential markets. Manufacturers of milk thistle supplements are primarily focusing on improving their product portfolios by adding new flavors to their already existing portfolio. In addition, volatility fluctuations and regulatory pressure will shift the key manufacturers’ focus towards avenues which have better investment prospects, such as introducing transparent and clean label milk thistle supplement products.
COVID-19 Impact Analysis
The coronavirus pandemic has impacted certain areas of business in the milk thistle supplements market. Currently, US accounts for the largest consumption share in global milk thistle market and the country is highly affected amid COVID-19, witnessing a declining in the sales of these supplements. Various regulatory measures to prevent COVID-19 from spreading are impeding supply chain functions. This can have a negative market impact. When customers want to reduce their time in the supermarket and want to buy food, processed foods containing food additives are an excellent choice during this period.
Global Milk Thistle Supplements Market: In-Depth Assessment on Key Segments
The global milk thistle supplements market is segmented on the basis of form, sales channel, and region.
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More Valuable Insights on Milk Thistle Supplements capsule Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Milk Thistle Supplements capsule, Sales and Demand of Milk Thistle Supplements capsule, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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