Global Ashwagandha Market, By Application (Food and Beverage Industry, Pharmaceutical Industry, Cosmetic and Personal Care Industry, Dietary Supplements, Household (Retail), Others), Distribution Channel (B2B, B2C), Form (Powder, Capsules, Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Ashwagandha market is expected to reach USD 1.14 billion by 2028 growing at a growth rate of 6.40% in the forecast period 2021 to 2028. Increasing prevalence of health conscious people which will act as a factor for the ashwagandha market in the forecast period of 2021- 2028.
Ashwagandha, a winter cherry, Indian ginseng, poison gooseberry, has been used for its health benefits in many countries since ancient times, as ashwagandha, a tonic medicine, particularly as a tonic nerve, is used by the Indian Ayurvedic system. The widespread popularity of Ashwagandha has led businesses to introduce multiple products with nutritional benefits, such as memory, sports wellness, ageing, immune support, and others. Ashwagandha can also be used in the weight loss system and has thus been collected as a natural weight control solution in the herbal section.
Increasing demand of product as a multifunctional herb that can be classified as an immunity booster, a supplement to energy, a rejuvenating and stress buster, growing trust in herbal/botanical supplements, surge in demand for herbal healthcare continues persistence because of its appeal to use items as organic, adoption of sedentary lifestyle amongst people is generating a-increasing demand for nutrients that promote health and wellness are some of the major as well as vital factors which will likely to augment the growth of the ashwagandha market in the projected timeframe of 2021-2028. On the other hand, growing number of product launch along with increasing growth of the herbal healthcare market which will further contribute by generating massive opportunities that will lead to the growth of the ashwagandha market in the above mentioned projected timeframe.
Lack of awareness about the benefits of the product along with lack of reach in the developing as well as under-developing nations which will likely to act as market restraints factor for the growth of the ashwagandha in the above mentioned projected timeframe. Poor quality of clinical research on ayurvedic medicines which will become the biggest and foremost challenge for the growth of the market.
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 localised 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 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.
Global Ashwagandha Market Scope and Market Size
- Ashwagandha market is segmented on the basis of application, form and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of application, the ashwagandha market is segmented into food and beverage industry, pharmaceutical industry, cosmetic and personal care industry, dietary supplements, household (retail), and others. Pharmaceutical industry segment will hold the largest share in the growth of the market due to its high use for the treatment of myriad health diseases along with growing number of research activities.
- Based on the form, the ashwagandha market is segmented into powder, capsules, and others. Powder segment will hold the largest share in the growth of the market as it can be mixed with water, honey, juice, or milk, which allows for a faster absorption in the human body.
- The ashwagandha market is also segmented on the basis of distribution channel. The distribution channel is segmented into B2B, and B2C. B2C has been further segmented into hypermarkets / supermarkets, specialty store, modern trade, online retail, and others.
Ashwagandha Market Country Level Analysis
Ashwagandha market is analysed and market size, volume information is provided by country, application, form and distribution channel 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, Netherland, 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, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
Asia-Pacific dominates the ashwagandha market due to the organizations are constantly driving innovation of new products for varied applications along with rising usages of product in very common among the consumers in the region while Europe region will expect to grow in the ashwagandha market during the forecast period 2021 to 2028 because of surging levels of investment in botanical research in the region.
The country section of the ashwagandha market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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
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.
The major players covered in the ashwagandha report are NutriBoost BV; Xi an Sost Biotech CO,. Ltd.; Aunutra Industries Inc.; The Himalaya Drug Company.; Sabinsa; Carrubba INC; Herbs Village; Banyan Botanicals; Naturalin Bio-Resources Co., Ltd.; Phyto Life Sciences P. Ltd; Quad Lifesciences Pvt. Ltd.; Ideal Natural Extract; Taos Herb Company.; Arjuna Natural Pvt Ltd; Life Extension; Natreon Inc.; Umalaxmi Organics Pvt. Ltd.; OmniActive Health Technologies; Unicorn Natural Products Limited; VIDYA HERBS; Kumaon Exports Pvt. Ltd.; among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Ashwagandha Market
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