Silybum marianum is an antioxidant-rich herb that is used for different applications such as additives in food, pharmaceutical formulations, oils and solution preparation, etc. The wide range of practical applications of the Silybum marianum leads the demand from different industries over the forecast period.
The rise in the food and beverages and pharmaceutical industry is likely to expand the market for Silybum marianum as it has been used as an indirect additive in the food products such as tea and soups. The growing nutraceutical and fitness care industry will have a positive impact on the Silybum marianum market. The new developments in the nutraceutical industry will lead to increase in the use of the Silybum marianum due to the hepatoprotective activities and anti-aging benefits. The rise in the veterinary and animal nutrition is likely to expand the market for Silybum marianum.
Rising use of Silybum marianum as an indirect additive in the food & beverages industry, the pharmaceutical industry, nutraceutical industry and animal feed is the key driver for the growth of the global Silybum marianum market. Additionally, the demand for the natural and organic nutraceutical supplements is expected to create demand for the Silybum marianum market. Moreover, the growing demand for the herb tea, soups & beverages is expected to increase the demand for the Silybum marianum market during the forecast period.
Additionally, the booming healthcare industry across the globe is expected to have a positive impact on the global Silybum marianum market. The rising expenditure on the nutraceutical products, herbal supplements and dietary supplements are likely to expand the nutraceutical supplements industry, which is expected to push the demand for Silybum marianum during the forecast period.
Moreover, the direct use of the Silybum marianum as the medicinal pills and supplement is in demand due to broad applications in the disorders like hepatic diseases, inflammatory, fibrotic and hypolipidemic, which is likely to boost the growth of the Silybum marianum market.
Silybum marianum Market: Market Segmentation
The Silybum marianum market has segmented into different parts based on the form type, end-use industries, sales channel and geography. In the production of the extracts of Silybum marianum, different form type has been used as per the requirement in the end product development process. The powder form of Silybum marianum has been commonly used due to its precise formulations for tablets and as ingredients in other formulations such as tea and soups and phytoremediation formulations.
The Silybum marianum market can be categorized into seven critical regions: North America, Latin America, Europe, CIS & Russia, Japan, the Asia Pacific excluding Japan, and the Middle East and Africa. The Silybum marianum market has been expected to register a healthy growth during the forecast period, as the food and beverages, pharmaceutical, cosmetics and nutraceutical industries are growing across the globe. The emerging economies are expected to create notable demand for Silybum marianum as there is profitable growth in the cosmetics and nutraceutical industry.
The Asia Pacific excluding Japan (APEJ) represents a considerably high market share and the market will grow at a significantly high growth rate due to the increasing population and changing food, and health habitats, which are expected to create opportunities for the healthcare and pharmaceutical industry leading to an expanding demand for Silybum marianum. China and India’s developing market is expected to impact the growth of the Silybum marianum market positively. North America is growing market due to high per capita income and the consumers’ high expenditure on the animal feed, natural nutraceutical, cosmetics and pharmaceutical products.
Silybum marianum Market: Key Players
Some of the major players in the Silybum marianum market are Kingherbs Limited, Naturalin Bio-Resources Co., Ltd., The Synergy Company., Walgreen Co., Gaia Herbs, The Honest Company, Inc. and among others.
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