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Global Ashwagandha Market – Industry Trends and Forecast to 2030

  • Food & Beverage
  • Upcoming Report
  • Jan 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Food & Beverage
  • Upcoming Report
  • Jan 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Ashwagandha Market, By Type (KSM-66, Sensoril, Hydro-alcoholic Ashwagandha, Crude Ashwagandha), Product Type (Ashwagandha Root Product, Ashwagandha Leaf Products, Ashwagandha Leaf and Root Mix Product), Withanolides Content (1% Withanolides, 2% Withanolides, 2.5% Withanolides, 5% Withanolides, 10% Withanolides), Category (Regular, Full Spectrum), Form (Powder, Capsule, Liquid), Function (Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety and Stress, Brain Health, Muscle Strength), Distribution Channel (B2B, B2C), Application (Food and Beverages, Pharmaceutical, Dietary Supplements, Sports Nutrition, Others) – Industry Trends and Forecast to 2030.

Ashwagandha Market

Ashwagandha Market Analysis and Size

Nowadays, growing demand for ayurvedic medicines as a treatment for numerous health ailments counting diabetes, insomnia, constipation, arthritis, stress and gastrointestinal issues and high awareness regarding their benefits among consumers enhances the market growth. The pharmaceutical is expected to be the fastest-growing application segment due to its high usage for the treatment of myriad health diseases. This herb has been found to inhibit colon, breast, and lung cancer cells. Moreover, it can decrease cortisol levels in the human body. Cortisol is a stress hormone that is released by adrenal glands in response to stress.

Data Bridge Market Research analyses that the ashwagandha market is expected to reach USD 114.93 million by 2030, which is USD 46.75 million in 2022, registering a CAGR of 11.90% during the forecast period of 2023 to 2030. 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.     

Ashwagandha Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (KSM-66, Sensoril, Hydro-alcoholic Ashwagandha, Crude Ashwagandha), Product Type (Ashwagandha Root Product, Ashwagandha Leaf Products, Ashwagandha Leaf and Root Mix Product), Withanolides Content (1% Withanolides, 2% Withanolides, 2.5% Withanolides, 5% Withanolides, 10% Withanolides), Category (Regular, Full Spectrum), Form (Powder, Capsule, Liquid), Function (Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety and Stress, Brain Health, Muscle Strength), Distribution Channel (B2B, B2C), Application (Food and Beverages, Pharmaceutical, Dietary Supplements, Sports Nutrition, Others)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

Market Players Covered

KSM66 Ashwagandha (U.S.), Bioprex Labs (India), Medikonda Nutrients (India), Aunutra (U.S.), Herbochem (India), HERBAL CREATIONS (India) Dabur (India),  Patanjali Ayurved (India), Carrubba, Inc (U.S.), Himalaya Global Holdings Ltd (India)

Market Opportunities

  • Increasing product launches and surging trust on ayurvedic goods
  • Growing demand for ashwagandha supplements

Market Definition

Ashwagandha is a natural herb, which is widely used for treating several health problems. It is normally known as Withania Somnifera.This is also recognized as poison gooseberry, Indian ginseng and winter cherry in numerous cultures due to its health benefits for instance indian ayurvedic system usages withania somnifera as medicine Rasayana (tonic), mainly since a nerve tonic. Ashwagandha is measured an effective component for maintaining the rejuvenation and vitality and improving general health.

Ashwagandha Market Dynamics

Drivers

  • Rising demand for herbal remedies

The increasing demand for herbal remedies has impelled the growth of the ashwagandha market. Growing trust of customer in herbal/botanical supplements and increasing customer consciousness have certainly increased the growth of ashwagandha globally, but this market has not yet attained widespread acceptance. The ashwagandha market is growing rapidly with rising demand for natural products. Therefore, rising demand for herbal remedies is expected to drive the market growth rate.

  • High sales of ashwagandha in winter

The sales of ashwagandha mainly rise in the winter season when immunological health is a major issue. As a multipurpose herb, ashwagandha is categorized as an energy booster, a rejuvenator, an immune enhancer and a stress reliever. The global increase in health-conscious consumers is propelling the ashwagandha market's expansion.

Opportunities

  • Increasing product launches and surging trust on ayurvedic goods

Recent product introductions by the Gujarat Cooperative Milk Marketing Federation such as "Amul Memory Milk", have recognized the significance of ashwagandha and are being marketed as the memory enhancer. Ayurvedic medicines are so highly respected in western nations due to this ayurvedic manufacturers have been enticed to promote their ashwagandha goods throughout the world. Strong consumer faith in ayurvedic products is likely to create numerous market growth opportunities during the forecast period.

Restraints/ Challenges

  • Side effect associated with ashwagandha

Large consumption of ashwagandha doses can cause several health issues such as diarrhea, nausea, gastrointestinal upset and vomiting, possibly because of direct irritation to the intestinal mucosa which is one of the major factor may hamper the growth of the of ashwagandha market during the forecast period 2023 to 2030.

This ashwagandha market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ashwagandha market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In 2019, Carrubba INC. has started their partnership with Biesterfeld to distribute botanic and aromatic extracts in Brazil. This partnership aids the company to spreading their distribution network in the European region.

Global Ashwagandha Market Scope

The ashwagandha market is segmented on the basis of type, product type, withanolides content, category, form, function, distribution channel and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • KSM-66
  • Sensoril
  • Hydro-alcoholic Ashwagandha
  • Crude Ashwagandha

 Product Type

  • Ashwagandha Root Product
  • Ashwagandha Leaf Products
  • Ashwagandha Leaf
  • Root Mix Product

 Withanolides Content

  • 1% Withanolides
  • 2% Withanolides
  • 2.5% Withanolides
  • 5% Withanolides
  • 10% Withanolides

 Category

  • Regular
  • Full Spectrum

 Form

  • Powder
  • Capsule
  • Liquid

Function

  • Improved Stamina
  • Improved Immunity
  • Overall Wellbeing
  • Reduced Anxiety and Stress
  • Brain Health
  • Muscle Strength

Distribution Channel

  • B2B
  • B2C
  • Hypermarkets / Supermarkets
  • Specialty Store
  • Modern Trade
  • Online Retail
  • Others

Application

  • Food and Beverages
  • Pharmaceutical
  • Dietary Supplements
  • Sports Nutrition
  • Others

Ashwagandha Market Regional Analysis/Insights

The ashwagandha market is analyzed and market size insights and trends are provided by country, type, product type, withanolides content, category, form, function, distribution channel and application as referenced above.

The countries covered in the ashwagandha market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the ashwagandha market in terms of revenue and market share. This is mainly due to increasing cultivation of the seaweed and rise in demand of the seaweed across the many end users in this region.

Europe is expected to be the fastest developing region during the forecast period of 2023-2030 because in this region the people are highly aware with the benefits of ashwagandha which aids the country to cover high share in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Ashwagandha Market Share Analysis

The ashwagandha market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ashwagandha market.

Some of the major players operating in the ashwagandha market are:

  • KSM66 Ashwagandha (U.S.)
  • Bioprex Labs (India)
  • Medikonda Nutrients (India)
  • Aunutra (U.S.)
  • Herbochem (India)
  • HERBAL CREATIONS (India)
  • Dabur (India)
  • Patanjali Ayurved (India)
  • Carrubba, Inc (U.S.)
  • Himalaya Global Holdings Ltd (India)


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Frequently Asked Questions

The Ashwagandha Market is projected to grow at a CAGR of 11.90% during the forecast period by 2030.
The future market value of the Ashwagandha Market is expected to reach USD 114.93 million by 2030.
The major players in the Ashwagandha Market are KSM66 Ashwagandha (U.S.), Bioprex Labs (India), Medikonda Nutrients (India), Aunutra (U.S.), Herbochem (India), HERBAL CREATIONS (India) Dabur (India), Patanjali Ayurved (India), Carrubba, Inc (U.S.), etc.
The countries covered in the Ashwagandha Market are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, etc.