Data Bridge Market Research analyzes that the Global Ashwagandha Market is expected to reach USD 128,912.32 thousand by 2031, which is USD 53,538.91 thousand in 2023, registering a CAGR of 11.61% during the forecast period of 2024 to 2031.
Industry Analysis
Major factors expected to boost the growth of the ashwagandha market in the forecast period are the rise in several industry applications, including aerospace, steel, power, chemicals, and others. Furthermore, the increased resistance to load variations is the benefit of ashwagandha, which is further anticipated to propel the growth of the ashwagandha market.
The "Powder" segment, classified by form, dominates the ashwagandha market. This is because Ashwagandha is primarily consumed in powdered form, making it the most popular and widely used form for various health and wellness applications.
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 is a natural herb that is used for treating a variety of health conditions. It is commonly known as Withania somnifera, also recognized as Indian ginseng, poison gooseberry, and winter cherry has been used from ancient times in many cultures for its health benefits as the Indian ayurvedic system uses Withania somnifera as medicine Rasayana (tonic), particularly as a nerve tonic. Ashwagandha is a medicinal herb that helps to cure various diseases such as cancer, diabetes, and others. The ashwagandha extract proves beneficial for reducing blood sugar levels, improving concentration, enhancing brain functioning, and helping to relieve stress. Thus, the pharmaceutical industry has a high demand for ashwagandha extract.
Global Ashwagandha Market Scope
The ashwagandha market is segmented on the basis of on type, product type, withanolides content, category, form, function, 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 and Root Mix Product
Withanolides Content
· 1% Withanolides
· 2% Withanolides
· 2.5% Withanolides
· 5% Withanolides
· 10% Withanolides
· Others
Category
· Regular
· Full Spectrum
Form
· Powder
· Capsule
· Liquid
Function
· Improved Stamina
· Improved Immunity
· Overall Wellbeing
· Reduced Anxiety and Stress
· Brain Health
· Muscle Strength
· Others
Application
· Food & Beverages
· Pharmaceutical
· Dietary Supplements
· Sports Nutrition
· Others
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Global Ashwagandha Market Regional Analysis/Insights
The ashwagandha market is analyzed and market size insights and trends are provided on basis of on type, product type, withanolides content, category, form, function, and application as referenced above.
The countries covered in the ashwagandha market report are U.S., Canada, Mexico, Germany, U.K. France, Spain, Belgium, Russia, Netherland, Italy, Turkey, Switzerland, Sweden, Denmark, Norway, Finland, rest of Europe, India, China, Japan, Australia, South Korea, Singapore, Thailand, Indonesia, Taiwan, Hong Kong, Malaysia, New Zealand, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, Israel, and rest of Middle East and Africa.
North America is expected to dominate the market due to many product launches in the region's major markets and increasing consumer awareness. There is rising awareness and demand for plant-based products, including ashwagandha, as consumers seek alternatives to conventional pharmaceuticals. Asia-Pacific is expected to grow with the highest CAGR due to increased awareness about ashwagandha's potential health benefits and a cultural inclination toward herbal supplements in the region.
The country section of the 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 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.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The ashwagandha also provides you with detailed market analysis for every country growth in expenditure for capital equipment, installed base of different kind of products for ashwagandha market, impact of technology using life line curves and changes in regulatory scenarios and their impact on the ashwagandha market. The data is available for historic period 2010-2020.
Competitive Landscape and Global 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 global ashwagandha market.
Some of the major players operating in the ashwagandha market are:
· KSM66 Ashwagandha (Ixoreal Biomed) (U.S.)
· Sami-Sabinsa Group (India)
· Dabur India Limited (India)
· Himalaya Wellness Company (India)
· Swanson (U.S.)
· Zanducare (A Subsidiary of Emami Ltd.) (India)
· Patanjali AyurvedIndia
· 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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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Global Ashwagandha Market by Product & Procedure type
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