PUBLISHER: DataM Intelligence | PRODUCT CODE: 1448019
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1448019
Ashwagandha Extract Market - 2023-2030
Overview
Global Ashwagandha Extract Market reached US$ 628.4 million in 2022 and is expected to reach US$ 1063.6 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.
The global ashwagandha extract market has witnessed significant growth and transformations over the years, as consumers are adopting ashwagandha extracts such as leaves, and roots as they contain medicinal properties. It is used in dietary supplements and ayurvedic medicine to ease pain and inflammation, treat insomnia, and boost nutrition, along with other conditions.
In addition, as the popularity of ashwagandha extracts is increasing, manufacturers are introducing different products with health benefits such as sports nutrition, memory, and aging, immune support among others. For instance, in December 2021, Nidra Nutrition launched a product line of stress relief gummies containing 175 mg of Ashwagandha.
The dietary supplements segment accounts for the largest share of the global ashwagandha extracts market. Similarly, the Asia-Pacific region also shows its dominance on world share, as the manufactures in this region are launching innovative products by using ashwagandha extracts to meet the consumer's demand in this region.
Dynamics
Increasing Demand for Ayurvedic Medicines
The growing demand for ayurvedic medicines is expected to propel the market for ashwagandha extracts. Ashwagandha extracts are a natural form of medicine that has been used in traditional ayurvedic treatments for various health conditions such as acne, anxiety, cardiovascular diseases, and many others.
Furthermore, the rising demand for ayurvedic medicines is expected to create opportunities for developing a wide range of ashwagandha extracts in medicines. For instance, in February 2021, LupinLife company launched an ayurvedic energy supplement for men, Be One. It is a 100% Ayurvedic health and wellness supplement, which contains natural ingredients including ashwagandha.
Rising in Health Consciousness Among Consumers
As people become more health-conscious, there is a shift towards ayurvedic herbs like ashwagandha, as they have natural medicinal properties such as anti-inflammatory and antioxidant properties. This herb offers natural medicinal properties including anti-inflammatory and antioxidant benefits. It can help lower cholesterol levels, anxiety, stress, and others. Therefore, the mentioned factors are likely to supplement the growth of the ashwagandha extract market size during the forecast period.
Furthermore, manufacturing companies are introducing innovative ashwagandha products in their portfolios. For instance, in January 2024, Hi-Tech Pharmaceuticals launched AshwaPure under the Ashwagandha brand, it has the highest concentration of all major roots, and it helps in reducing anxiety, and lowering blood sugar levels, strength, and stamina.
Side Effects of Ashwagandha
Although ashwagandha possesses numerous medicinal properties, some individuals may be allergic to Ashwagandha. Allergic reactions can range from mild symptoms such as itching and rash to more severe reactions like swelling and difficulty breathing. It might limit the consumer bases and can impact the growth of the market.
Segment Analysis
The global ashwagandha extract market is segmented based on product type, category, form, distribution channel, application and region.
Increasing the Demand for Ashwagandha Dietary Supplements
The dietary supplements segment accounts for the maximum share of the global ashwagandha extract market, consumers are ashwagandha adaptogen, which means it may help the body adapt to stress and promote a balanced response to various stressors. Hence, such factors can help contribute to the global ashwagandha extracts market.
In addition, supplement-producing companies are highly focused on developing innovative products with ashwagandha. For instance, in April 2023, Southern California-based supplement company- Youtheory updated its portfolios. Ashwagandha + GABA has 100mg of pharma GABA. It is shown to overcome stress and encourage relaxation-without promoting sleepiness.
Geographical Penetration
Product Launches
Asia-Pacific has been a dominant force in the global ashwagandha extract market and its significance has only grown in the post-2020 era. Ashwagandha has been used as ayurvedic medicine from ancient times in India, as consumers of this region are also highly adopting the ashwagandha extracts for various health conditions, which significantly helps in driving the market growth.
Furthermore, as the consumer demand is high in this region manufacturing companies in this region are investing in developing the ashwagandha market to meet the demand and to increase the revenue generated from this market. For instance, in May 2020, India's manufacturer BodyFirst launched ashwagandha products. Some of the firm's key products are astaxanthin capsules made with clinically tested KSM-66 ashwagandha from Ixoreal Biomed.
Competitive Landscape
The major global players in the market include Baldwa group, Sami-Sabinsa Group, Dabur India Ltd, Himalaya Wellness Company., Swanson, Patanjali Ayurved Limited, Kerry Group plc, KAIRALI AYURVEDIC PRODUCTS PRIVATE LIMITED, Bioprex Labs and Medikonda Nutrients.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has shown a positive impact on the global ashwagandha extracts market. Consumer demand for herbal supplements is increasing, including ashwagandha, as they enhance the immune system and reduce stress. This has increased the sales of ashwagandha extracts and ashwagandha-based supplements & food products.
By Product Type
- Ashwagandha Root
- Ashwagandha Leaf
- Root Mix Products
- Withanolides Content (1% -10%)
- Others
By Category
- Regular
- Full Spectrum
By Form
- Powder
- Capsule
- Pills
- Liquid
By Distribution Channel
- Hypermarket/Supermarket
- Specialty Stores
- Drug Stores & Pharmacies
- Convenience Stores
- Online Retail Channels
- Others
By Application
- Food & Beverages
- Pharmaceutical
- Dietary Supplements
- Sports Nutrition
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In April 2022, Kerry, a taste and nutrition company acquired U.S.-based Natreon, Inc., a leading supplier of branded Ayurvedic botanical ingredients.
- In December 2021, Glanbia Nutritionals partnered with Ixoreal Biomed Inc. to optimize its KSM-66 Ashwagandha, highly concentrated root extract with NutraShield Technology, to provide functional and application dosage improvements.
Why Purchase the Report?
- To visualize the global ashwagandha extract market segmentation based on product type, category, form, distribution channel, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of ashwagandha extract market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global Ashwagandha Extract market report would provide approximately 78 tables, 79 figures and 210 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
Table of Contents
1.Methodology and Scope
- 1.1.Research Methodology
- 1.2.Research Objective and Scope of the Report
2.Definition and Overview
3.Executive Summary
- 3.1.Snippet by Product Type
- 3.2.Snippet by Category
- 3.3.Snippet by Form
- 3.4.Snippet by Distribution Channel
- 3.5.Snippet by Application
- 3.6.Snippet by Region
4.Dynamics
- 4.1.Impacting Factors
- 4.1.1.Drivers
- 4.1.1.1.Rising In Health Consciousness Among Consumers
- 4.1.1.2.Increasing Demand for Ayurvedic Medicines
- 4.1.2.Restraints
- 4.1.2.1.Side Effects of Ashwagandha
- 4.1.3.Opportunity
- 4.1.4.Impact Analysis
- 4.1.1.Drivers
5.Industry Analysis
- 5.1.Porter's Five Force Analysis
- 5.2.Supply Chain Analysis
- 5.3.Pricing Analysis
- 5.4.Regulatory Analysis
- 5.5.DMI Opinion
6.COVID-19 Analysis
- 6.1.Analysis of COVID-19
- 6.1.1.Scenario Before COVID
- 6.1.2.Scenario During COVID
- 6.1.3.Scenario Post COVID
- 6.2.Pricing Dynamics Amid COVID-19
- 6.3.Demand-Supply Spectrum
- 6.4.Government Initiatives Related to the Market During Pandemic
- 6.5.Manufacturers Strategic Initiatives
- 6.6.Conclusion
7.By Product Type
- 7.1.Introduction
- 7.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 7.1.2.Market Attractiveness Index, By Product Type
- 7.2.Ashwagandha Root*
- 7.2.1.Introduction
- 7.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3.Ashwagandha Leaf
- 7.4.Root Mix Products
- 7.5.Withanolides Content (1% -10%)
- 7.6.Others
8.By Category
- 8.1.Introduction
- 8.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 8.1.2.Market Attractiveness Index, By Category
- 8.2.Regular*
- 8.2.1.Introduction
- 8.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3.Full Spectrum
9.By Form
- 9.1.Introduction
- 9.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.1.2.Market Attractiveness Index, By Form
- 9.2.Powder*
- 9.2.1.Introduction
- 9.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3.Capsule
- 9.4.Pills
- 9.5.Liquid
10.By Distribution Channel
- 10.1.Introduction
- 10.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.1.2.Market Attractiveness Index, By Distribution Channel
- 10.2.Hypermarket/Supermarket*
- 10.2.1.Introduction
- 10.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3.Specialty Stores
- 10.4.Drug Stores & Pharmacies
- 10.5.Convenience Stores
- 10.6.Online Retail Channels
- 10.7.Others
11.By Application
- 11.1.Introduction
- 11.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.1.2.Market Attractiveness Index, By Application
- 11.2.Food & Beverages*
- 11.2.1.Introduction
- 11.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3.Pharmaceutical
- 11.4.Dietary Supplements
- 11.5.Sports Nutrition
- 11.6.Others
12.By Region
- 12.1.Introduction
- 12.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2.Market Attractiveness Index, By Region
- 12.2.North America
- 12.2.1.Introduction
- 12.2.2.Key Region-Specific Dynamics
- 12.2.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.2.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 12.2.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.2.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.2.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1.U.S.
- 12.2.8.2.Canada
- 12.2.8.3.Mexico
- 12.3.Europe
- 12.3.1.Introduction
- 12.3.2.Key Region-Specific Dynamics
- 12.3.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.3.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 12.3.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.3.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.3.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1.Germany
- 12.3.8.2.UK
- 12.3.8.3.France
- 12.3.8.4.Italy
- 12.3.8.5.Russia
- 12.3.8.6.Rest of Europe
- 12.4.South America
- 12.4.1.Introduction
- 12.4.2.Key Region-Specific Dynamics
- 12.4.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.4.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 12.4.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.4.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.4.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1.Brazil
- 12.4.8.2.Argentina
- 12.4.8.3.Rest of South America
- 12.5.Asia-Pacific
- 12.5.1.Introduction
- 12.5.2.Key Region-Specific Dynamics
- 12.5.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.5.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 12.5.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.5.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.5.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1.China
- 12.5.8.2.India
- 12.5.8.3.Japan
- 12.5.8.4.Australia
- 12.5.8.5.Rest of Asia-Pacific
- 12.6.Middle East and Africa
- 12.6.1.Introduction
- 12.6.2.Key Region-Specific Dynamics
- 12.6.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.6.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Category
- 12.6.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.6.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
13.Competitive Landscape
- 13.1.Competitive Scenario
- 13.2.Market Positioning/Share Analysis
- 13.3.Mergers and Acquisitions Analysis
14.Company Profiles
- 14.1.Baldwa group*
- 14.1.1.Company Overview
- 14.1.2.Product Portfolio and Description
- 14.1.3.Financial Overview
- 14.1.4.Key Developments
- 14.2.Sami-Sabinsa Group
- 14.3.Dabur India Ltd
- 14.4.Himalaya Wellness Company.
- 14.5.Swanson
- 14.6.Patanjali Ayurved Limited
- 14.7.Kerry Group plc
- 14.8.KAIRALI AYURVEDIC PRODUCTS PRIVATE LIMITED
- 14.9.Bioprex Labs
- 14.10.Medikonda Nutrients.
LIST NOT EXHAUSTIVE
15.Appendix
- 15.1.About Us and Services
- 15.2.Contact Us
