
Ashwagandha Extract Market Forecasts to 2030 – Global Analysis By Type (KSM-66, Sensoril, Hydro-Alcoholic Ashwagandha, Crude Ashwagandha and Other Types), Form, Function, Distribution Channel, Application and By Geography
Description
Ashwagandha Extract Market Forecasts to 2030 – Global Analysis By Type (KSM-66, Sensoril, Hydro-Alcoholic Ashwagandha, Crude Ashwagandha and Other Types), Form, Function, Distribution Channel, Application and By Geography
According to Stratistics MRC, the Global Ashwagandha Extract Market is accounted for $1.1 billion in 2023 and is expected to reach $2.6 billion by 2030 growing at a CAGR of 13.4% during the forecast period. Ashwagandha extract, derived from the roots of the Withania somnifera plant, is an ancient herb used in Ayurvedic medicine. Renowned for its adaptogenic properties, it helps the body manage stress by regulating cortisol levels. It also supports immune function and enhances overall well-being. Rich in antioxidants, it combats inflammation and may improve brain function, memory, and mood. Moreover, Ashwagandha extract may lower blood sugar levels and reduce symptoms of anxiety and depression.
According to the studies, large doses of ashwagandha could cause upset stomach, diarrhoea, and vomiting, liver problems. It may also irritate the intestinal mucosa, leading to other digestive problems.
Market Dynamics:
Driver:
Rising awareness of the health benefits of ashwagandha
As more people become aware of the potential health benefits of ashwagandha, there is a corresponding increase in demand for ashwagandha extract products. Consumers are seeking natural remedies for various health concerns, including stress, anxiety, insomnia, and immune support, among others. Further manufacturers are developing new formulations and delivery methods to make ashwagandha extract more accessible and appealing to consumers. This heightened demand is driving growth in the ashwagandha extract market.
Restraint:
Limited clinical research
Without robust clinical research backing its health claims, ashwagandha extract may struggle to gain credibility among healthcare professionals and consumers. Concerns about product quality, purity, and potential side effects may deter some consumers from purchasing ashwagandha extract supplements. Thus the absence of scientific validation can create skepticism and uncertainty about its effectiveness and safety, hindering widespread adoption and market growth.
Opportunity:
Growing demand for natural and herbal remedies
As consumers increasingly seek natural alternatives to conventional medicines, the demand for herbal supplements like ashwagandha extract has surged. It attracts not only health-conscious individuals but also those seeking relief from specific health concerns, such as stress, anxiety, fatigue, and sleep disturbances. Ashwagandha's reputation as an adaptogenic herb with potential health benefits for stress relief, immune support, and overall well-being aligns well with the preferences of individuals looking for holistic solutions encourage the growth of the market.
Threat:
Potential side effects
The presence of potential side effects may attract regulatory scrutiny from health authorities and regulatory agencies. Concerns about consumer safety may prompt regulatory bodies to impose stricter regulations on ashwagandha extract products, including labeling requirements, dosage restrictions, or even potential bans in certain regions. This can hinder market access and growth for manufacturers and distributors.
Covid-19 Impact
Increased awareness of ashwagandha's adaptogenic properties and its traditional use in Ayurvedic medicine have fueled demand for supplements and extracts. Lockdowns and health concerns have accelerated the shift towards online purchasing channels, driving further market growth. Additionally, research suggesting potential antiviral and immune-modulatory effects of ashwagandha has sparked interest among consumers and researchers alike, contributing to the resilience of the market amidst the pandemic's challenges.
The hydro-alcoholic ashwagandha segment is expected to be the largest during the forecast period
The hydro-alcoholic ashwagandha segment is estimated to have a lucrative growth, as it represents a specific formulation of this herbal extract that may appeal to certain consumers or industries. Hydro-alcoholic extraction is known to yield a concentrated extract with higher potency compared to other extraction methods. This increased potency may appeal to consumers seeking more potent supplements for health benefits which further drives the growth of the market.
The reduced anxiety and stress segment is expected to have the highest CAGR during the forecast period
The reduced anxiety and stress segment is anticipated to witness the highest CAGR growth during the forecast period, as awareness about the link between stress and various health issues grows, more consumers are seeking natural remedies to manage stress and anxiety. Ashwagandha, with its reputation as an adaptogen, becomes an attractive option for individuals looking for natural stress-relief solutions. This expansion of the consumer base can lead to increased sales and market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. Ashwagandha is a traditional Ayurvedic herb that has been used for centuries to treat a variety of health conditions. With the growing popularity of natural and organic products, consumers in the Asia Pacific region are becoming increasingly aware of the potential health benefits of ashwagandha. These benefits include reducing stress and anxiety, improving sleep quality, boosting immunity, and increasing energy levels. This trend is expected to drive the demand for ashwagandha extract products in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, due to extensive awareness about using ayurvedic herbs medicines including ashwagandha extract and acceptance by the large population in the region. People are beginning to discover ayurveda as a sister science of yoga. Increasing consumer awareness and growing demand for ayurvedic medicines products in the region is expected to gain a major traction in the market. Furthermore, growing demand for sports nutrition and dietary supplement in the U.S. is likely to boost the growth of the North America ashwagandha extract market during the forecast period.
Key players in the market
Some of the key players in the Ashwagandha Extract Market include Apex International, Banyan Botanicals Corporation, Dabur India Limited, Himalaya Herbal Healthcare, Kerry Group plc, KSM66 Ashwagandha, Medikonda Nutrients, Natreon Inc, Nature's Answer Inc., NOW Foods Co., Organic India PVT Ltd., Paradise Herbs & Essentials Inc., Patanjali AyurvedIndia, Planetary Herbals Co., Sami-Sabinsa Group, Solaray Inc., Solgar Inc., Swanson Health Products Inc. and Zoic Pharmaceuticals
Key Developments:
In March 2024, Banyan Botanicals and other companies in the natural products sector will collaborate to establish data on the greenhouse gas emissions associated with the agricultural production of herbs.
In January 2024, Kerry completes acquisition of science-backed branded botanical extract company Natreon. The branded ingredients in Natreon’s portfolio are protected by a wide range of U.S. and foreign patents and supported by a total of 52 clinical studies which support the efficacy of their health benefits.
In January 2024, Tata Consumer Products Ltd (TCPL) announced that it would acquire 100% of Organic India's equity shares. The acquisition will include TCPL's purchase of Capital Foods, the owner of Organic India and Ching's Secret, and Smith & Jones.
Types Covered:
• KSM-66
• Sensoril
• Hydro-Alcoholic Ashwagandha
• Crude Ashwagandha
• Other Types
Forms Covered:
• Capsule
• Powder
• Liquid
Functions Covered:
• Improved Immunity
• Improved Stamina
• Reduced Anxiety and Stress
• Overall Wellbeing
• Muscle Strength
• Brain Health
• Other Functions
Distribution Channels Covered:
• Business to Consumer (B2C)
• Business to Business (B2B)
• Other Distribution Channels
Application Covered:
• Traditional Medicine (Ayurveda)
• Dietary Supplements
• Foods & Beverages
• Pharmaceuticals Industry
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Table of Contents
200 Pages
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Ashwagandha Extract Market, By Type
- 5.1 Introduction
- 5.2 KSM-66
- 5.3 Sensoril
- 5.4 Hydro-Alcoholic Ashwagandha
- 5.5 Crude Ashwagandha
- 5.6 Other Types
- 6 Global Ashwagandha Extract Market, By Form
- 6.1 Introduction
- 6.2 Capsule
- 6.3 Powder
- 6.4 Liquid
- 7 Global Ashwagandha Extract Market, By Function
- 7.1 Introduction
- 7.2 Improved Immunity
- 7.3 Improved Stamina
- 7.4 Reduced Anxiety and Stress
- 7.5 Overall Wellbeing
- 7.6 Muscle Strength
- 7.7 Brain Health
- 7.8 Other Functions
- 8 Global Ashwagandha Extract Market, By Distribution Channel
- 8.1 Introduction
- 8.2 Business to Consumer (B2C)
- 8.2.1 Hypermarkets or Supermarkets
- 8.2.2 Specialty Stores
- 8.2.3 Drug Stores & Pharmacies
- 8.2.4 Convenience Stores
- 8.2.5 Online Retail Channels
- 8.3 Business to Business (B2B)
- 8.4 Other Distribution Channels
- 9 Global Ashwagandha Extract Market, By Application
- 9.1 Introduction
- 9.2 Traditional Medicine (Ayurveda)
- 9.3 Dietary Supplements
- 9.4 Foods & Beverages
- 9.5 Pharmaceuticals Industry
- 9.6 Other Applications
- 10 Global Ashwagandha Extract Market, By Geography
- 10.1 Introduction
- 10.2 North America
- 10.2.1 US
- 10.2.2 Canada
- 10.2.3 Mexico
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 Italy
- 10.3.4 France
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 New Zealand
- 10.4.6 South Korea
- 10.4.7 Rest of Asia Pacific
- 10.5 South America
- 10.5.1 Argentina
- 10.5.2 Brazil
- 10.5.3 Chile
- 10.5.4 Rest of South America
- 10.6 Middle East & Africa
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 Qatar
- 10.6.4 South Africa
- 10.6.5 Rest of Middle East & Africa
- 11 Key Developments
- 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 11.2 Acquisitions & Mergers
- 11.3 New Product Launch
- 11.4 Expansions
- 11.5 Other Key Strategies
- 12 Company Profiling
- 12.1 Apex Internationa
- 12.2 Banyan Botanicals Corporation
- 12.3 Dabur India Limited
- 12.4 Himalaya Herbal Healthcare
- 12.5 Kerry Group plc
- 12.6 KSM66 Ashwagandha
- 12.7 Medikonda Nutrients
- 12.8 Natreon Inc
- 12.9 Nature's Answer Inc.
- 12.10 NOW Foods Co.
- 12.11 Organic India PVT Ltd.
- 12.12 Paradise Herbs & Essentials Inc.
- 12.13 Patanjali AyurvedIndia
- 12.14 Planetary Herbals Co.
- 12.15 Sami-Sabinsa Group
- 12.16 Solaray Inc.
- 12.17 Solgar Inc.
- 12.18 Swanson Health Products Inc.
- 12.19 Zoic Pharmaceuticals
- List of Tables
- Table 1 Global Ashwagandha Extract Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Ashwagandha Extract Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Ashwagandha Extract Market Outlook, By KSM-66 (2021-2030) ($MN)
- Table 4 Global Ashwagandha Extract Market Outlook, By Sensoril (2021-2030) ($MN)
- Table 5 Global Ashwagandha Extract Market Outlook, By Hydro-Alcoholic Ashwagandha (2021-2030) ($MN)
- Table 6 Global Ashwagandha Extract Market Outlook, By Crude Ashwagandha (2021-2030) ($MN)
- Table 7 Global Ashwagandha Extract Market Outlook, By Other Types (2021-2030) ($MN)
- Table 8 Global Ashwagandha Extract Market Outlook, By Form (2021-2030) ($MN)
- Table 9 Global Ashwagandha Extract Market Outlook, By Capsule (2021-2030) ($MN)
- Table 10 Global Ashwagandha Extract Market Outlook, By Powder (2021-2030) ($MN)
- Table 11 Global Ashwagandha Extract Market Outlook, By Liquid (2021-2030) ($MN)
- Table 12 Global Ashwagandha Extract Market Outlook, By Function (2021-2030) ($MN)
- Table 13 Global Ashwagandha Extract Market Outlook, By Improved Immunity (2021-2030) ($MN)
- Table 14 Global Ashwagandha Extract Market Outlook, By Improved Stamina (2021-2030) ($MN)
- Table 15 Global Ashwagandha Extract Market Outlook, By Reduced Anxiety and Stress (2021-2030) ($MN)
- Table 16 Global Ashwagandha Extract Market Outlook, By Overall Wellbeing (2021-2030) ($MN)
- Table 17 Global Ashwagandha Extract Market Outlook, By Muscle Strength (2021-2030) ($MN)
- Table 18 Global Ashwagandha Extract Market Outlook, By Brain Health (2021-2030) ($MN)
- Table 19 Global Ashwagandha Extract Market Outlook, By Other Functions (2021-2030) ($MN)
- Table 20 Global Ashwagandha Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 21 Global Ashwagandha Extract Market Outlook, By Business to Consumer (B2C) (2021-2030) ($MN)
- Table 22 Global Ashwagandha Extract Market Outlook, By Hypermarkets or Supermarkets (2021-2030) ($MN)
- Table 23 Global Ashwagandha Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 24 Global Ashwagandha Extract Market Outlook, By Drug Stores & Pharmacies (2021-2030) ($MN)
- Table 25 Global Ashwagandha Extract Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 26 Global Ashwagandha Extract Market Outlook, By Online Retail Channels (2021-2030) ($MN)
- Table 27 Global Ashwagandha Extract Market Outlook, By Business to Business (B2B) (2021-2030) ($MN)
- Table 28 Global Ashwagandha Extract Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 29 Global Ashwagandha Extract Market Outlook, By Application (2021-2030) ($MN)
- Table 30 Global Ashwagandha Extract Market Outlook, By Traditional Medicine (Ayurveda) (2021-2030) ($MN)
- Table 31 Global Ashwagandha Extract Market Outlook, By Dietary Supplements (2021-2030) ($MN)
- Table 32 Global Ashwagandha Extract Market Outlook, By Foods & Beverages (2021-2030) ($MN)
- Table 33 Global Ashwagandha Extract Market Outlook, By Pharmaceuticals Industry (2021-2030) ($MN)
- Table 34 Global Ashwagandha Extract Market Outlook, By Other Applications (2021-2030) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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