The Ashwagandha Market boasts unique features, primarily its adaptogenic properties known for stress relief and overall well-being enhancement. It has gained significant popularity due to its natural and holistic health benefits. The dominating segment is the dietary supplement industry, where ashwagandha is incorporated into various wellness products, such as capsules, powders, and teas. The herbal supplement market is thriving, and ashwagandha's versatility aligns with the growing global demand for natural remedies, positioning it as a dominant player in this segment.
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Data Bridge Market Research analyses that the Global Ashwagandha Market was valued at USD 48,004.03 thousand in 2022 and is expected to reach the value of USD 115,502.48 thousand by 2030, at a CAGR of 11.6% during the forecast period of 2023-2030. Ashwagandha's potential immuneboosting properties have gained attention due to heightened health concerns, such as viral outbreaks. Consumers are increasingly interested in natural remedies such as ashwagandha to support their immune systems, reflecting a growing focus on preventive health measures.
Key Findings of the Study
Growing health consciousness is expected to drive the market's growth rate
The surging popularity of ashwagandha is propelled by the growing awareness and preference for natural remedies and holistic health practices. Consumers today are increasingly seeking alternatives to pharmaceuticals, turning to herbal solutions such as ashwagandha known for its adaptogenic and wellnesspromoting properties. This shift in mindset aligns with a broader wellness movement, emphasizing the use of traditional and plant-based remedies, driving the demand for ashwagandha as a natural and holistic approach to health and wellbeing.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Type (KSM66, Sensoril, HydroAlcoholic Ashwagandha and Crude Ashwagandha), Product Type (Ashwagandha Root Products, Ashwagandha Leaf Products, Ashwagandha Leaf and Root Mix Products), Withanolides Content (1% Withanolides, 2% Withanolides, 2.5% Withanolides, 5% Withanolides, 10% Withanolides, and Others), Category (Regular and Full Spectrum), Form (Powder, Capsule And Pills, and Liquid), Function (Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety and Stress, Brain Health, Muscle Strength, and Others), and Application (Food and Beverages, Pharmaceutical, Dietary Supplement, Sports Nutrition, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan,(India), South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Ixoreal Biomed (KSM66 Ashwagandha) ((U.S.)), SamiSabinsa Group (India), Dabur(India) Limited (India), Himalaya Wellness Company (India), Swanson (U.S.), Zanducare (A Subsidiary of Emami Ltd.) (India), Patanjali Ayurved (India), Herbochem (India), Apex International (India), Kerry Group plc (Ireland), KAIRALI AYURVEDIC PRODUCTS PRIVATE LIMITED (India), Bioprex Labs (India), Natreon Inc. (U.S.), Medikonda Nutrients (India), Carrubba. Inc (U.S.), Organic(India) Pvt. Ltd. (India), Zoic Pharmaceuticals (India), Creative Enzymes (U.S.), Aunutra Industries Inc (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global ashwagandha market is segmented on the basis of on type, product type, withanolides content, category, form, function, and application.
- On the basis of type, the global ashwagandha market is segmented into KSM-66, sensoril, hydro-alcoholic ashwagandha, and crude ashwagandha. In 2023, the KSM-66 segment is expected to dominate the global ashwagandha market, growing with the highest CAGR of 11.3% during the forecast period of 2023-2030 due to its superior quality and bioavailability.
In 2023, the KSM-66 segment of type segment is expected to dominate the global ashwagandha market during the forecast period of 2023-2030
In 2023, the KSM-66 segment is expected to dominate the global ashwagandha market, growing with the highest CAGR of 11.3% during the forecast period of 2023-2030 due to its superior quality and bioavailability. Renowned for its clinically proven benefits and standardization, KSM-66 sets a high industry benchmark. Consumers trust its effectiveness, making it the preferred choice for various applications, contributing to its dominance in the global ashwagandha market.
- On the basis of product type, the global ashwagandha market is segmented into ashwagandha root products, ashwagandha leaf products, and ashwagandha leaf and root mix products. In 2023, the ashwagandha root product segment is anticipated to lead the global ashwagandha market, growing with the highest CAGR of 11.3% during the forecast period of 2023-2030 because it comprises the core, traditionally valued part of the plant.
In 2023, the ashwagandha root product segment of product type segment is expected to dominate the global ashwagandha market during the forecast period of 2023-2030
In 2023, the ashwagandha root product segment is anticipated to lead the global ashwagandha market, growing with the highest CAGR of 11.3% during the forecast period of 2023-2030 because it comprises the core, traditionally valued part of the plant. This segment is rich in bioactive compounds, making it the preferred choice for herbal remedies and supplements, hence driving its dominance in the global ashwagandha market.
- On the basis of withanolides content, the global ashwagandha market is segmented into 1% withanolides, 2% withanolides, 2.5% withanolides, 5% withanolides, 10% withanolides, and others. In 2023, the 5% withanolide segment is such asly to dominate the global ashwagandha market, growing with the highest CAGR of 11.3% during the forecast period of 2023-2030 due to its higher concentration of active compounds, ensuring greater potency and effectiveness in various health and wellness applications.
- On the basis of category, the global ashwagandha market is segmented into regular and full spectrum. In 2023, the full spectrum segment is poised to lead the global ashwagandha market, growing with the highest CAGR of 11.7% during the forecast period of 2023-2030 due to its comprehensive profile of bioactive compounds, offering holistic health benefits.
- On the basis of form, the global ashwagandha market is segmented into powder, capsule, and liquid. In 2023, the powder segment is set to dominate the global ashwagandha market, growing with the highest CAGR of 11.2% during the forecast period of 2023-2030 due to its versatile use in various applications and easy consumption.
- On the basis of function, the global ashwagandha market is segmented into improved stamina, improved immunity, overall wellbeing, reduced anxiety and stress, brain health, muscle strength, and others. In 2023, the reduced anxiety and stress segment leads the global ashwagandha market, growing with the highest CAGR of 11.9% during the forecast period of 2023-2030 due to ashwagandha's proven effectiveness in promoting relaxation and mental well-being.
- On the basis of application, the global ashwagandha market is segmented into food and beverages, pharmaceutical, dietary supplements, Sports nutrition, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the global ashwagandha market players in global ashwagandha market are Ixoreal Biomed (KSM66 Ashwagandha) ((U.S.)), SamiSabinsa Group (India), Dabur(India) Limited (India), Himalaya Wellness Company (India), Swanson (U.S.), Zanducare (A Subsidiary of Emami Ltd.) (India), Patanjali Ayurved (India), Herbochem (India).
Market Developments
- In December 2021, Dabur India Limited responded to the COVID-19 pandemic by introducing a range of ayurveda-based preventive healthcare and personal hygiene products. Additionally, the company increased the production of its existing portfolio to maintain a steady supply of healthcare and medicinal items, ensuring uninterrupted access to essential health solutions during the challenging times of the pandemic.
- In November 2021, Glanbia Nutritionals collaborated with Ixoreal Biomed to enhance their ashwagandha extract, KSM-66, utilizing Nutrashield technology. Nutrashield, a microencapsulation method, shields the botanical extract from undesirable flavors and enables higher inclusion rates. This partnership offered customers an effective ingredient solution for a wide range of products, including ready-to-mix powders, ready-to-drink beverages, chewable gummies, and effervescent supplements, ensuring improved product quality and taste.
Regional Analysis
Geographically, the countries covered in the global ashwagandha market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan,(India), South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global ashwagandha market during the forecast period 2023-2030
In Asia-Pacific, China dominates the global ashwagandha market, driven by its rich tradition of natural and herbal remedies for health and wellness. Ashwagandha, a popular adaptogenic herb known for its stressrelief and energyboosting properties, aligns with China's cultural emphasis on holistic wellbeing. This preference, combined with the growing global interest in natural health solutions, positions China as a key player in the ashwagandha market, further propelling its growth in the region.
North America is expected to dominate the global ashwagandha market in the forecast period 2023-2030
North America is poised to lead the global ashwagandha market due to numerous product launches and rising consumer awareness. Major markets in the region have witnessed a surge in the introduction of ashwagandhabased products, capitalizing on the growing interest in natural health solutions. The region's proactive approach to innovation and increasing consumer knowledge about the benefits of ashwagandha positions North America as a dominant player, driving market growth in the herbal supplement industry.
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