Ashwagandha Market Growth, Size, Share, Top Companies, Manufacturing Cost Analysis and Future Forecast Up to 2030
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Rapidly growing adoption of ayurvedic medicine is a key factor driving ashwagandha market revenue growth
VANCOUVER, BC, CANADA, September 27, 2022 /EINPresswire.com/ -- The global ashwagandha market size reached USD 42.8 Million in 2021 and is expected to register a revenue CAGR of 11.4% during the forecast period, according to latest analysis by Emergen Research. Ashwagandha market revenue growth is driven by factors such as rapid increase in demand for ashwagandha supplements, increasing popularity of ashwagandha owing to its nutritional & health benefits, and surge in demand for ashwagandha in functional food & beverages and pharmaceutical industries.
Ashwagandha has been utilized for medicinal reasons in ayurveda and sold as a nutritional supplement in numerous countries throughout ancient periods. It is utilized as a nerve tonic in the Ayurvedic system and provides nutritional advantages including sports nutrition, memory, aging, and immunological support. Ashwagandha is also recommended for weight loss, hence it has been included in the herbal section as a natural weight management remedy. In addition, it has a beneficial effect on the immunological system, while its sales surge in winter, when immunological health is a concern. Moreover, expansion of the ashwagandha market is being driven by worldwide increase in health-consciousness and rising demand for herbal medicines. People have a great conviction in botanical or herbal supplements, which is driving demand for ashwagandha.
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Ashwagandha is recognized for its stress-relieving and anti-anxiety qualities. In addition, according to studies, it also appears to reduce cortisol levels. As a dietary supplement, ashwagandha reduces blood sugar levels, increases insulin production, and improves insulin sensitivity in both healthy and diabetic people. Managing blood glucose levels can prevent a variety of health issues such as weight gain, infections, and exhaustion. Moreover, a growing body of research indicates, ashwagandha's effectiveness in improving duration and quality of sleep in people with insomnia. Ashwagandha is now becoming increasingly popular among athletes.
The Ashwagandha research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players in the global Ashwagandha market are NutriBoost B.V, Xi an Sost Biotech Co., Ltd, Aunutra Industries Inc., Himalaya Global Holdings Ltd, Sabinsa, Carrubba, Inc. Herbs Village, Banyan Botanicals, Dabur, and Patanjali Ayurved.
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Some Key Highlights From the Report
The powder segment accounted for a significant revenue share in 2021. The powdered form of ashwagandha can also be mixed with liquids, such as water, juice, honey, or milk, to facilitate its rapid absorption by body. Powdered Ashwagandha contains only natural ingredients in its composition and there are no additives or chemicals used in this process. This powder provides body with essential nutrients such as protein, carbohydrates, dietary fiber, vitamin C, and calcium.
The dietary supplements segment accounted for a significant revenue share in 2021. Dietary supplements are in high demand since they provide consumers with numerous advantages. Dietary supplements are beneficial owing to combination of ingredients included within them. Researchers are witnessing launch of the most significant immunity-boosting chemicals in the market, as importance of a healthy immune system increases. Ashwagandha plant has been utilized to cure a variety of illnesses.
The Europe market accounted for a moderate revenue share in 2021. Increasing demand for Ayurvedic medications as a treatment for a variety of health conditions, such as arthritis, constipation, insomnia, diabetes, stress, and gastrointestinal difficulties, as well as customer perception of their benefits, are expected to drive market revenue growth. For instance, on 21st August 2021, The AYUSH Ministry collaborated with London School of Hygiene and Tropical Medicine (LSHTM) to perform a study on Ashwagandha for increasing COVID-19 recovery.
Emergen Research has segmented the global ashwagandha market based on type, application, distribution channel, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Powder
Capsules
Others
Application Outlook (Revenue, USD Million; 2019-2030)
Food & Beverage Industry
Pharmaceutical Industry
Cosmetic & Personal Care Industry
Dietary Supplements
Household
Others
Distributional Channel Outlook (Revenue, USD Million; 2019-2030)
B2B
B2C
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Highlights of Table of Contents (TOC):
Overview of Global Ashwagandha Market
Competitive analysis of the Ashwagandha market
Regional analysis of Global Ashwagandha market production and revenue
Regional analysis of Global Ashwagandha market supply, consumption, and export & import
Type-based market analysis of global Ashwagandha production, revenue, and price trends
Application-based analysis of the global Ashwagandha market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Ashwagandha market
Global Ashwagandha market forecast (2022-2030)
Conclusion of the research report
Appendix
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