Introduction to Ashwagandha extract market:
The global Ashwagandha extract market was valued at USD 687.1 billion in 2023 and is likely to reach USD 1387.1 billion by 2032, increasing at a CAGR of 8.12% from 2024 to 2032.
Ashwagandha is an evergreen plant that grows throughout Asia and Africa. It is widely used to relieve tension. There is scant evidence supporting its usage as an "adaptogen." Ashwagandha includes compounds that may aid to relax the brain, decrease edema, lower blood pressure, and modulate the immune system. Ashwagandha is typically used as an adaptogen, therefore it is utilized to treat a variety of stress-related disorders. Adaptogens are thought to assist the body withstand both physical and emotional stress. It is claimed to treat insomnia, aging, anxiety, and a variety of other diseases, however the majority of these applications lack scientific proof. There is also no strong evidence to support the use of ashwagandha to treat COVID-19.
Ashwagandha's roots and orange-red berries have been used medicinally for centuries. The herb is also referred to as Indian ginseng or winter cherry. The name "ashwagandha" refers to the fragrance of its root, which means "like a horse." By definition, Ashwa refers to horses.
Ashwagandha contains chemicals that may help calm the brain, reduce edema, lower blood pressure, and modify the immune system. Ashwagandha is commonly used as an adaptogen to treat stress-related diseases. Adaptogens are supposed to help the body cope with both physical and mental stress. It is said to heal insomnia, aging, anxiety, and a range of other ailments, however the bulk of these claims lack scientific backing. There is also no compelling evidence to support the treatment of ashwagandha to treat COVID-19. Ashwagandha may improve athletic performance and sleep quality. Some study shows that this herb may benefit persons with issues such as anxiety and infertility; additional research is being conducted to obtain more accurate results.
As individuals become more health conscious, there is a growing demand for natural vitamins and herbal medications. Ashwagandha is a trend-fit herb because of its well-known adaptogenic properties and ability to reduce stress and anxiety. Selling ashwagandha extract in the form of tinctures, powders, teas, and capsules is a potential source of income. The importance of mental health and wellbeing has also been highlighted by the pandemic. The World Health Organization reports that during the pandemic, depression and anxiety have increased globally. Businesses in the wellness sector are placing a strong emphasis on mental health services, including online therapy sessions, mental health coaching, and meditation applications.
Global Ashwagandha Extract Market, Segmentation
The Ashwagandha Extract market is segmented on the basis of By Type, By Form, By Application, and region.
Type:
The type segment is further classified into organic and conventional. Among these, the Organic Ashwagandha Extract sub-segment accounted for the highest market share in 2023 Consumers are increasingly looking for natural and organic products due to concerns about synthetic chemicals and pesticides used in conventional farming. Organic ashwagandha aligns with this preference for clean, natural, and sustainable products.
Perceived health benefits like, 0073tress reduction and reduced anxiety improve mood etc. Concerns about synthetic chemicals and their possible health consequences have led to an increase in demand for natural and organic products. Ashwagandha, a classic Ayurvedic herb, fits nicely into this trend.
Application:
The application segment is further classified into like dietary supplements, pharmaceuticals, cosmetics, food & beverages. Among these, the dietary supplements sub-segment is anticipated to show the fastest growth by 2032. Because ashwagandha is an adaptogen, it may lessen the amount of cortisol, a hormone the body releases in reaction to stress.
Research indicates that ashwagandha may influence neurotransmitters such as serotonin and gamma-aminobutyric acid (GABA) to help lower anxiety and elevate mood. Research indicates that ashwagandha may improve memory, focus, and cognitive function. It is thought to possess neuroprotective qualities that may enhance mental well-being.
Region:
The Ashwagandha Extract market in Asia-Pacific is projected to show the fastest growth by 2032. Asia Pacific: Holds the largest market share, with India leading due to its rich heritage in Ayurveda and robust belief in herbal supplements. India's dominance in the ashwagandha extract market in the Asia-Pacific region stems from various factors. The country boasts extensive ashwagandha cultivation across diverse regions like Madhya Pradesh, Rajasthan, Punjab, Haryana, and Gujarat, benefiting from favorable climate and soil conditions. India's rich heritage of Ayurveda has long acknowledged the medicinal potential of ashwagandha, nurturing its development within the country. These combined factors have propelled India to the forefront of the ashwagandha extract industry.
Some of the leading Ashwagandha Extract market players are
- Patanjali Ayurved Limited (India)
- Dabur India Ltd (India)
- Himalaya Wellness (India)
- NOW Foods (USA)
- Gaia Herbs (USA)
- Banyan Botanicals (USA)
- Nutrilite Products (USA)
- Zandu Realty Ltd. (India)
- Kerry Group plc (Ireland)
- NutriScience Innovations, LLC (USA)
Key Industry Developments
- In March 2024, Partners and Banyan Botanicals announce a partnership to lower carbon emissions in the herbal supply chain
- In Nov 2023, Ashwagandha Organic Gummies, a new supplement type, has been introduced by Himalaya Wellness, a business that specializes in herbal supplements and plant-based personal care products
- In March 2023, Himalaya Wellness, a personal care and pharmaceutical firm, has started a campaign called “Ab Stress Nahi, De-stress Kijiye” to raise mindfulness about the impact of unaddressed stress with its new Ashwagandha product
Key Findings of the Study
- Increasing awareness of the multiple health advantages of ashwagandha, Ashwagandha includes compounds that may aid to relax the brain, decrease edema, lower blood pressure, and modulate the immune system.
- As individuals become more health conscious, there is a growing opportunity for natural vitamins and herbal medications.
- Consumers are increasingly looking for natural and organic products due to concerns about synthetic chemicals and pesticides used in conventional farming.
- By Application, The Dietary Supplement segment is anticipated to show the fastest growth by 2032.
- The Ashwagandha Extract market in Asia-Pacific is projected to show the fastest growth by 2032.
