Ashwagandha Market Synopsis

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.

Winter cherry, Indian ginseng, and Ajagandha, too known as Withania somnifera (Ashwagandha; Family-Solanaceae), are plants utilized in Ayurvedic medication. Ayurvedic medication has customarily been utilized to treat different neurological issues.

• Ashwagandha, an Ayurvedic Rasayana, may be a capable recovery tonic with a few pharmacological characteristics, counting neuro-protection, anti-stress, anti-arthritic, anti-tumour, analgesic, and anti-inflammatory.
• Ashwagandha incorporates compounds which will help to unwind the brain, diminish edema, lower blood weight, and balance the safe framework. Ashwagandha is regularly utilized as an adaptogen, in this manner it is utilized to treat a assortment of stress-related disarranges.
• Ashwagandha root powder gives a more "whole-plant" encounter, Ashwagandha root extricate conveys a more concentrated measurements of the dynamic ingredients.t to help the body withstand both physical and passionate push.
• The export value of ayurvedic and herbal products amounted to about 628 million U.S. dollars from India in fiscal year 2023. There was a consistent increase in the value of these exports from fiscal year 2020.

Ashwagandha Extract Market Trend Analysis

Increasing Awareness of The Multiple Health Advantages of Ashwagandha

• Ashwagandha, a prized herb in Ayurveda, has received increasing attention for its many health benefits. Known as an adaptogen, it helps the body deal with stress by regulating the release of stress hormones such as cortisol. This quality alone makes it a valuable asset in our busy, modern lifestyles where stress is everywhere and harmful to health. To managing stress, ashwagandha has powerful anti-inflammatory properties that can alleviate a variety of inflammatory conditions, such as arthritis and inflammatory bowel disease. Its immunomodulatory effect strengthens the immune system and helps the body fight more effectively against infections and diseases.
• Ashwagandha is known for its ability to improve cognitive function. It supports brain health by promoting neurogenesis, the growth of new brain cells, and protecting existing neurons from damage. It improves memory, concentration and overall cognitive performance.
• Ashwagandha is valued for its potential to support hormonal balance, especially in men and women with imbalances related to stress, aging or reproductive health. It can help regulate thyroid hormones, testosterone levels in men and hormone levels in women, promoting overall well-being.
• It has shown promise in promoting cardiovascular health by lowering cholesterol and triglyceride levels and lowering blood pressure. These effects reduce the risk of heart disease and stroke. Its anti-cancer properties are increasingly being studied, and previous studies show that it can inhibit the growth of cancer cells and improve the effectiveness of conventional anti-cancer treatments. Overall, the growing awareness of the various health benefits of ashwagandha underscores its potential as a holistic medicine for many ailments, stress-related disorders and chronic diseases, making it a valuable addition to modern wellness practices.

Opportunities

Health and Wellness Industry

• Demand for herbal medicines and natural supplements is increasing as people become more health conscious. This trend lends itself well to ashwagandha, known for its adaptogenic properties and ability to reduce stress and anxiety. This provides an opportunity to make money by selling ashwagandha extract as tinctures, powders, teas and capsules.
• The epidemic has also highlighted the value of mental health and well-being. According to the World Health Organization, sadness and anxiety have increased worldwide during the epidemic. Health marketing organizations emphasize mental health services such as meditation apps, online therapy sessions and mental health training.
• Modern lifestyles are characterized by increased stress and anxiety, increasing the need for natural stress management solutions. Known for its adaptogenic properties, Ashwagandha is a promising option to help people effectively manage stress.
• Consumers are turning to herbal preparations and traditional medicines to maintain their health and well-being. As a staple herb in Ayurveda with a rich history of use, ashwagandha fits perfectly into this trend, offering a natural alternative to synthetic supplements. Ongoing research continues to demonstrate ashwagandha's multiple health benefits, which include the immune system, cognitive health, hormonal balance, and cardiovascular health. As evidence accumulates, consumer confidence in ashwagandha as a health supplement grows.
• Ashwagandha extract is suitable for a wide variety of product formulations, including capsules, powders, tinctures, teas, and functional foods and beverages. This versatility allows manufacturers to develop innovative products that are tailored to different consumer preferences and lifestyle needs.
• Efforts to increase awareness of the health benefits of ashwagandha through marketing campaigns, social media influence, and health professional recommendations are sparking consumer interest. Educating consumers about its traditional uses and scientific support will continue to drive market growth. The appeal of Ashwagandha extract transcends geographical boundaries, leading to its adoption and popularity worldwide.

Market Segment Analysis:

Market Segmented based on Type, Form, Application, And Region

By Type, Organic Segment Is Expected to Dominate the Market During the Forecast Period

• Extract derived from organically grown ashwagandha plants, appealing to consumers seeking natural and pesticide-free products. 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, stress reduction and reduced anxiety improve mood etc.
• There has been a boom in scientific research on the health benefits of ashwagandha. Positive outcomes in areas such as stress reduction and immunological support have sparked interest among both the media and health-conscious customers.
• Ashwagandha has been utilized for ages in traditional medicinal systems such as Ayurveda. This past usage adds credibility and trustworthiness to its perceived efficacy. Organic certification assures consumers that the items are devoid of synthetic pesticides, herbicides, and other hazardous chemicals. With rising worries about the environmental and health consequences of conventional agriculture, customers are ready to pay a premium for organically certified items such as ashwagandha extract. Expansion of the Supplement industry, the dietary supplement industry is quickly developing, driven by rising awareness.

By Application, The Dietary Supplement Segment Held the Largest Share

• Ashwagandha is an adaptogen, it can reduce the amount of cortisol, a hormone released by the body in response to stress. Research shows that ashwagandha can affect neurotransmitters such as serotonin and gamma-aminobutyric acid (GABA) to reduce anxiety and elevate mood. Studies show that ashwagandha can improve memory, concentration and cognitive function. It is believed to have neuroprotective properties that can improve mental well-being.
• The dietary supplement category dominates the ashwagandha extract market for several reasons. Ashwagandha has become more popular as a natural remedy for a variety of health problems, including stress reduction, anxiety management, and immunological support.
• As consumers appreciate a holistic approach to wellness, the demand for supplements containing ashwagandha extract is increasing. These supplements are available in a variety of forms, including capsules, powders and tinctures, to suit a wide range of customer tastes and lifestyles. Growing awareness of the potential health benefits of ashwagandha, supported by scientific research and good anecdotal evidence, has increased demand for the supplement category.

Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• Asia Pacific holds the biggest advertise share, with India driving due to its wealthy legacy in Ayurveda and vigorous conviction in home grown supplements. India's dominance within the ashwagandha extricate advertise within the Asia-Pacific locale stems from different components.
• The nation brags broad ashwagandha development over differing locales like Madhya Pradesh, Rajasthan, Punjab, Haryana, and Gujarat, profiting from favorable climate and soil conditions. India's wealthy legacy of Ayurveda has long recognized the restorative potential of ashwagandha, sustaining its improvement inside the nation. These combined variables have impelled India to the cutting edge of the ashwagandha extricate industry.

Market Top Key Players:

The key companies in the Global Ashwagandha extracts Market 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)
• Amruta Pharma (India)
• Emami Limited (India)
• Venkatesh Natural Extracts Pvt. Ltd. (India)
• Herbalhills (India)
• KSM66 Ashwagandha (India)
• Alchem International Pvt. Ltd. (India)
• Layn Natural Ingredients (USA)
• NutraHerbals (India)
• Viridian Nutrition (England)
• Avesta Herbal (India)
• BioBotanica Inc. (USA)
• Arjuna Natural Pvt. Ltd. (India)
• Carrubba Inc. (USA)
• Pharmaceuticals and Nutraceuticals Pvt. Ltd. (India)
• Ashwagandha Herbs Pvt. Ltd. (India)
• Jiaherb Inc. (USA)
• Nature's Answer (USA) and Other Active Players.

Key Industry Developments in the Market:

• 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

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. ASHWAGANDHA EXTRACT MARKET BY TYPE (2017-2030)
   1. ASHWAGANDHA EXTRACT MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ORGANIC ASHWAGANDHA EXTRACT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. CONVECTIONAL ASHWAGANDHA EXTRACT
7. ASHWAGANDHA EXTRACT MARKET BY FORM (2017-2030)
   1. ASHWAGANDHA EXTRACT MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. POWDER FORM
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. LIQUID FORM
   5. CAPSULE FORM
8. ASHWAGANDHA EXTRACT MARKET BY APPLICATION (2017-2030)
   1. ASHWAGANDHA EXTRACT MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. DIETARY SUPPLEMENT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FOODS AND BEVERAGES
   5. PHARMACEUTICALS
   6. COSMETICS
   7. SPORTS NUTRITION
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Benchmarking
      2. ASHWAGANDHA EXTRACT Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. PATANJALI AYURVED LIMITED (INDIA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. DABUR INDIA LTD (INDIA)
   4. HIMALAYA WELLNESS (INDIA)
   5. NOW FOODS (USA)
   6. GAIA HERBS (USA)
   7. BANYAN BOTANICALS (USA)
   8. NUTRILITE PRODUCTS (USA)
   9. ZANDU REALTY LTD. (INDIA)
   10. KERRY GROUP PLC (IRELAND)
   11. NUTRISCIENCE INNOVATIONS, LLC (USA)
   12. AMRUTA PHARMA (INDIA)
   13. EMAMI LIMITED (INDIA)
   14. VENKATESH NATURAL EXTRACTS PVT. LTD. (INDIA)
   15. HERBALHILLS (INDIA)
   16. KSM66 ASHWAGANDHA (INDIA)
   17. ALCHEM INTERNATIONAL PVT. LTD. (INDIA)
   18. LAYN NATURAL INGREDIENTS (USA)
   19. NUTRAHERBALS (INDIA)
   20. VIRIDIAN NUTRITION (ENGLAND)
   21. AVESTA HERBAL (INDIA)
   22. BIOBOTANICA INC. (USA)
   23. ARJUNA NATURAL PVT. LTD. (INDIA)
   24. CARRUBBA INC. (USA)
   25. PHARMACEUTICALS AND NUTRACEUTICALS PVT. LTD. (INDIA)
   26. ASHWAGANDHA HERBS PVT. LTD. (INDIA)
   27. JIAHERB INC. (USA)
   28. NATURE'S ANSWER (USA)
10. GLOBAL ASHWAGANDHA EXTRACT MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By TYPE
       4. Historic And Forecasted Market Size By FORM
       5. Historic And Forecasted Market Size By APPLICATION
       6. Historic And Forecasted Market Size By REGION
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies