Silymarin Market

Global Silymarin Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Type (Silymarin Extracted by Acetone, Silymarin Extracted by Ethyl Acetate, Silymarin Extracted by Ethanol, Water Soluble Silymarin), By Application (Pharma and Healthcare, Food Additives, Cosmetic and Skin Care, Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Pharma & Healthcare | March 2024 | Report ID: EMR00639 | Pages: 259

The global silymarin market was valued at USD 95.25 million in 2023 and is estimated to reach approximately USD 132.87 million by 2032, at a CAGR of 3.7% from 2024 to 2032.

Silymarin, which comes from milk thistle seeds, is well-known in the nutraceutical and pharmaceutical sectors for its strong antioxidant and liver-protective qualities. Being a natural substance, it has drawn interest because of its potential to heal liver conditions like cirrhosis and hepatitis. It plays a significant role in liver health supplements and pharmaceuticals due to its capacity to scavenge free radicals and encourage liver cell regeneration. The silymarin industry is expanding steadily and presents good opportunities for both pharmaceutical businesses and health-conscious consumers due to rising demand for alternative therapies and rising awareness of liver-related illnesses.

 

 

SILYMARIN MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

95.25 Mn

Projected Market Value (2032)

132.87 Mn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Application, & Region

Segments Covered

By Type, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Silymarin Dynamics

Numerous variables, such as increasing consumer knowledge of liver health, the incidence of liver illnesses rising, and the growing use of silymarin in pharmaceuticals and nutraceuticals, all have an impact on the market. The market is growing because of regulatory support for natural treatments and growing research into the therapeutic benefits of silymarin. Furthermore, improvements in product formulations and extraction methods boost silymarin's effectiveness and increase its commercial attractiveness. However, there are limitations due to issues like uneven raw material quality and competition from synthetic substitutes.

 

Global Silymarin Drivers

  • Increasing Consumer Awareness of Liver Health,

 A growing number of consumers are actively looking for natural liver support solutions due to worries about diseases linked to lifestyle choices and the liver's vital role in detoxification. Increased awareness is fueled by health campaigns, media attention, and educational programs, which in turn increases demand for goods like silymarin, which has been shown to have liver-protective qualities. There is an increasing focus on liver wellbeing, which supports the silymarin market as people emphasize preventive healthcare.

  • Expanding Applications in Pharmaceuticals and Nutraceuticals

Both industries have taken notice of silymarin's strong antioxidant and liver-protective qualities, which have led to its inclusion in a variety of goods. It is used in medications to treat liver conditions like cirrhosis and hepatitis. It is a component of nutraceuticals, which are dietary supplements used to support liver health and general wellbeing. The market for silymarin is growing and demand is being driven by this diversification of uses.

 

Restraints:

  • Inconsistent Quality of Raw Materials

The main source of silymarin, milk thistle seeds, might vary in quality and content, which can affect the potency and effectiveness of the finished product. Manufacturers are faced with difficulties in upholding product standards and fulfilling regulatory obligations due to this discrepancy. Furthermore, as consumers are looking for standardized and dependable silymarin products for their health benefits, it can erode consumer confidence and impede market expansion.

  • Regulatory Challenges and Compliance Issues

Herbal supplement laws and regulations differ from place to place, which makes product labeling, marketing, and registration more difficult. For producers, navigating these requirements may be expensive and time-consuming. A further level of complexity is added by having to ensure adherence to safety regulations and quality control procedures. In addition to restricting market access and growth prospects, noncompliance with regulatory regulations may result in product recalls, fines, and harm to a brand's reputation.

 

Opportunities:

  • Development of Novel Delivery Systems

Liposomal encapsulation, nanotechnology, and controlled-release formulations are examples of drug delivery innovations that have improved the bioavailability and effectiveness of silymarin substances. These developments provide more focused distribution to particular tissues or organs, decreased dosage frequency, and enhanced patient compliance. Novel delivery techniques can enable new applications in medicines and nutraceuticals, enabling market expansion and differentiation, by getting beyond the conventional constraints of silymarin administration.

  • Diversification into Cosmeceuticals and Personal Care

Silymarin is a desirable component for skincare and haircare formulations because of its strong anti-inflammatory and antioxidant qualities. Its capacity to fend off oxidative stress, UV rays, and environmental contaminants is in line with the expanding need among consumers for safe and efficient natural beauty products. Manufacturers can take use of silymarin's skin-rejuvenating properties and give clients cutting-edge formulations that support the health and vitality of their skin by adding it into skincare products.

 

Segment Overview

  • By Type

Based on type, the global silymarin market is divided into silymarin extracted by acetone, silymarin extracted by ethyl acetate, silymarin extracted by ethanol, and water-soluble silymarin. The silymarin extracted by acetone category dominates the market with the largest revenue share in 2023. Acetone extraction is the process of removing silymarin from milk thistle seeds by utilizing acetone as a solvent. The effectiveness of this approach in extracting a high concentration of silymarin compounds is well established. Milk thistle seeds are subjected to ethyl acetate extraction, which uses ethyl acetate as a solvent to separate silymarin. Because it produces a silymarin extract that is relatively pure and has fewer contaminants, this approach is preferred. Ethanol extraction is the process of removing silymarin from milk thistle seeds by utilizing ethanol, or alcohol, as a solvent. This process is popular and efficient for producing silymarin extracts that can be used in a variety of ways.

  • By Application

Based on the application, the global silymarin market is categorized into pharma and healthcare, food additives, cosmetic and skin care, and others. The pharma and healthcare category leads the global silymarin market with the largest revenue share in 2023. In this industry, silymarin is mostly utilized for its therapeutic qualities. Pharmaceutical medications intended to treat liver diseases such cirrhosis, fatty liver disease, and hepatitis contain it. In medical contexts, silymarin supplements are also used to promote liver health and facilitate detoxification procedures. Silymarin is occasionally added to food naturally, particularly in functional meals and nutritional supplements that support liver health. To boost general wellbeing and offer antioxidant effects, it can be added to food and beverage products.
Because of its anti-inflammatory and antioxidant qualities, silymarin is a popular ingredient in skincare and cosmetic products. In order to lessen inflammation, shield the skin from oxidative damage, and enhance general skin health, it is added to a variety of treatments, including creams, serums, and masks.

 

Global Silymarin Overview by Region

The global silymarin market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The need for medications and healthcare items based on silymarin has increased due to the rise in liver-related ailments in nations like China, India, and Japan as a result of their rapid industrialization, urbanization, and changing lifestyles. Demand for natural treatments like silymarin has also increased due to the region's expanding population, rising standard of living, and growing health consciousness. Asia-Pacific is now positioned as a major participant in the global silymarin market because to encouraging government initiatives, regulatory frameworks that promote expansion, and a strong industrial ecosystem.

Throughout the forecast period, North America is anticipated to post a significant CAGR. Numerous causes, such as the region's well-established healthcare and pharmaceutical sectors, the high incidence of liver illnesses, and the growing inclination of consumers toward natural health supplements, are responsible for this increase. Moreover, silymarin-based product innovation is being driven by strong R&D efforts in conjunction with technology breakthroughs.

 

 

Global Silymarin Competitive Landscape

In the global silymarin market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global silymarin market include,

  • LIVERD PHARMA
  • Huacheng Pharmaceutical
  • TY Pharmaceutical
  • Teva API
  • KEB Biotech
  • Shengbo Silymarin
  • Panjin Fengrui
  • Jiaherb., and various others.

 

Global Silymarin Recent Developments

  • In January 2023, Silymarin's potential as a pharmaceutical for treating neurological illnesses. The polyphenolic flavonoid compound known as silymarin is extracted from the dried fruits and seeds of the Silybum marianum L. plant. Chemically speaking, it is a blend of flavonolignan complexes that include various polyphenolic chemicals with varying biomedical benefits, silybin, isosilybin, silychristin, and silydianin, as well as a small amount of taxifolin.
  • In November 2020, Silymarin as a Complementary Therapy for Hepatic Conditions According to preclinical research, silymarin can shield intact liver cells or cells that have not yet sustained irreversible damage by lowering oxidative stress and the ensuing cytotoxicity. A novel formulation called Eurosil 85® was created to increase silymarin's oral bioavailability.

 

Scope of the Global Silymarin Report

Silymarin Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Silymarin Extracted by Acetone
  • Silymarin Extracted by Ethyl Acetate
  • Silymarin Extracted by Ethanol
  • Water Soluble Silymarin

By Application

  • Pharma and Healthcare
  • Food Additives
  • Cosmetic and Skin Care
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Silymarin Market Size and Forecast: To identify and estimate the market size for the global silymarin market segmented by type, by application, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of silymarin between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global silymarin market
  • Market Influencing Factors: To find out the factors which are affecting the sales of silymarin among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global silymarin market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Pharmaceutical and Healthcare Companies
  • Nutraceutical and Dietary Supplement Manufacturers
  • Cosmetic and Skincare Companies
  • Food and Beverage Industry
  • Research and Development Professionals

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the silymarin market is classified into North America, Europe, Asia Pacific, and the Rest of the world
According to silymarin market research, the market is expected to grow at a CAGR of ~3.7% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023
The major players operating in the global market include LIVERD PHARMA, Huacheng Pharmaceutical, TY Pharmaceutical, Teva API, KEB Biotech, Shengbo Silymarin, Panjin Fengrui, Jiaherb, and various others.