Product Code: BWC24605
Global Ashwagandha Extract Market almost Doubles Its Size to Surpass Value of USD 1.3 Billion by 2030
Global Ashwagandha Extract Market is thriving due to the growing trend toward organic products, increasing stress-related health issues, consumer preference for plant-based supplements, and expanding use in cosmetics.
BlueWeave Consulting, a leading strategic consulting, and Market research firm, in its recent study, estimated Global Ashwagandha Extract Market size by value at USD 686.6 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Ashwagandha Extract Market size to expand at a CAGR of 9.6% reaching a value of USD 1,304.6 million in 2030. Global Ashwagandha Extract Market is propelled by the increasing trend towards organic and natural products, the rising prevalence of stress-related health issues, and the growing consumer preference for plant-based supplements. Additionally, the expanding use of ashwagandha in cosmetics and personal care products, coupled with favorable government initiatives promoting herbal medicine, significantly contributes to market growth. Continuous innovation in product formulations also plays a crucial role in driving the demand for ashwagandha extract.
Opportunity - Growing body of scientific research
Global Ashwagandha Extract Market is benefiting from a growing body of scientific research. Numerous studies have validated the health benefits of ashwagandha, including stress reduction, improved sleep, and enhanced cognitive function. This scientific validation has increased consumer confidence and demand for ashwagandha-based products. The expanding research also supports the development of new applications in the nutraceutical and pharmaceutical industries, further driving market growth. As a result, ashwagandha extract is gaining wider acceptance and usage.
Impact of Escalating Geopolitical Tensions on Global Ashwagandha Extract Market
Escalating geopolitical tensions can adversely affect the Global Ashwagandha Extract Market by causing supply chain disruptions and increasing production costs due to trade barriers. Political instability in key regions may lead to inconsistent availability and quality of raw materials. Additionally, fluctuating exchange rates can impact pricing strategies and profitability for international trade. These uncertainties can deter investment and slow market growth, making it challenging for producers to meet consumer demand and maintain product standards.
Dietary Supplements Application Segment Holds Largest Market Share
The dietary supplements segment is the largest application in Global Ashwagandha Extract Market, due to the growing consumer awareness about the health benefits of ashwagandha, which is widely used for stress relief, immune support, and overall wellness. The increasing popularity of natural and herbal supplements, coupled with rising demand for adaptogens, contributes significantly to the dominance of the dietary supplements segment in the market. The other major application segments include sports nutrition and food & beverages.
Competitive Landscape
Global Ashwagandha Extract Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Himalaya Global Holdings Ltd, Dabur India Ltd, Patanjali Ayurved Ltd, Sabinsa, Kerry Group PLC, NutriBoost B.V, Xi'an Sost Biotech Co., Ltd, Aunutra Industries Inc., Carrubba, Inc., Banyan Botanicals, and Emami Limited. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Global Ashwagandha Extract Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Ashwagandha Extract Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Ashwagandha Extract Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Global Ashwagandha Extract Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Consumer Awareness of Natural and Herbal Remedies
- 3.2.1.2. Prevalence of Stress, Anxiety, and Sleep Disorders
- 3.2.1.3. Increasing Geriatric Population
- 3.2.1.4. Expanding Applications Beyond Traditional Medicine
- 3.2.2. Restraints
- 3.2.2.1. Adulteration and Counterfeit Products
- 3.2.2.2. High Production Costs
- 3.2.3. Opportunities
- 3.2.3.1. Growing Body of Scientific Research
- 3.2.3.2. Integration into Mainstream Products
- 3.2.4. Challenges
- 3.2.4.1. Limited Awareness in Certain Regions
- 3.2.4.2. Competition from Synthetic Alternatives
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Global Ashwagandha Extract Market: Marketing Strategies
5. Global Ashwagandha Extract Market: Pricing Analysis
6. Global Ashwagandha Extract Market: Geographical Analysis
- 6.1. Global Ashwagandha Extract Market, Geographical Analysis, 2023
- 6.2. Global Ashwagandha Extract Market, Market Attractiveness Analysis, 2024-2030
7. Global Ashwagandha Extract Market Overview
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Form
- 7.2.1.1. Capsule/Tablets
- 7.2.1.2. Powder
- 7.2.1.3. Others
- 7.2.2. By Application
- 7.2.2.1. Sports Nutrition
- 7.2.2.2. Food & Beverages
- 7.2.2.3. Dietary Supplements
- 7.2.2.4. Others
- 7.2.3. By Distribution Channel
- 7.2.3.1. Business to Business
- 7.2.3.2. Business to Consumer
- 7.2.4. By Region
- 7.2.4.1. North America
- 7.2.4.2. Europe
- 7.2.4.3. Asia Pacific (APAC)
- 7.2.4.4. Latin America (LATAM)
- 7.2.4.5. Middle East and Africa (MEA)
8. North America Ashwagandha Extract Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Form
- 8.2.2. By Application
- 8.2.3. By Distribution Channel
- 8.2.4. By Country
- 8.2.4.1. United States
- 8.2.4.1.1. By Form
- 8.2.4.1.2. By Application
- 8.2.4.1.3. By Distribution Channel
- 8.2.4.2. Canada
- 8.2.4.2.1. By Form
- 8.2.4.2.2. By Application
- 8.2.4.2.3. By Distribution Channel
9. Europe Ashwagandha Extract Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Form
- 9.2.2. By Application
- 9.2.3. By Distribution Channel
- 9.2.4. By Country
- 9.2.4.1. Germany
- 9.2.4.1.1. By Form
- 9.2.4.1.2. By Application
- 9.2.4.1.3. By Distribution Channel
- 9.2.4.2. United Kingdom
- 9.2.4.2.1. By Form
- 9.2.4.2.2. By Application
- 9.2.4.2.3. By Distribution Channel
- 9.2.4.3. Italy
- 9.2.4.3.1. By Form
- 9.2.4.3.2. By Application
- 9.2.4.3.3. By Distribution Channel
- 9.2.4.4. France
- 9.2.4.4.1. By Form
- 9.2.4.4.2. By Application
- 9.2.4.4.3. By Distribution Channel
- 9.2.4.5. Spain
- 9.2.4.5.1. By Form
- 9.2.4.5.2. By Application
- 9.2.4.5.3. By Distribution Channel
- 9.2.4.6. Belgium
- 9.2.4.6.1. By Form
- 9.2.4.6.2. By Application
- 9.2.4.6.3. By Distribution Channel
- 9.2.4.7. Russia
- 9.2.4.7.1. By Form
- 9.2.4.7.2. By Application
- 9.2.4.7.3. By Distribution Channel
- 9.2.4.8. The Netherlands
- 9.2.4.8.1. By Form
- 9.2.4.8.2. By Application
- 9.2.4.8.3. By Distribution Channel
- 9.2.4.9. Rest of Europe
- 9.2.4.9.1. By Form
- 9.2.4.9.2. By Application
- 9.2.4.9.3. By Distribution Channel
10. Asia Pacific Ashwagandha Extract Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Form
- 10.2.2. By Application
- 10.2.3. By Distribution Channel
- 10.2.4. By Country
- 10.2.4.1. China
- 10.2.4.1.1. By Form
- 10.2.4.1.2. By Application
- 10.2.4.1.3. By Distribution Channel
- 10.2.4.2. India
- 10.2.4.2.1. By Form
- 10.2.4.2.2. By Application
- 10.2.4.2.3. By Distribution Channel
- 10.2.4.3. Japan
- 10.2.4.3.1. By Form
- 10.2.4.3.2. By Application
- 10.2.4.3.3. By Distribution Channel
- 10.2.4.4. South Korea
- 10.2.4.4.1. By Form
- 10.2.4.4.2. By Application
- 10.2.4.4.3. By Distribution Channel
- 10.2.4.5. Australia & New Zealand
- 10.2.4.5.1. By Form
- 10.2.4.5.2. By Application
- 10.2.4.5.3. By Distribution Channel
- 10.2.4.6. Indonesia
- 10.2.4.6.1. By Form
- 10.2.4.6.2. By Application
- 10.2.4.6.3. By Distribution Channel
- 10.2.4.7. Malaysia
- 10.2.4.7.1. By Form
- 10.2.4.7.2. By Application
- 10.2.4.7.3. By Distribution Channel
- 10.2.4.8. Singapore
- 10.2.4.8.1. By Form
- 10.2.4.8.2. By Application
- 10.2.4.8.3. By Distribution Channel
- 10.2.4.9. Vietnam
- 10.2.4.9.1. By Form
- 10.2.4.9.2. By Application
- 10.2.4.9.3. By Distribution Channel
- 10.2.4.10. Rest of APAC
- 10.2.4.10.1. By Form
- 10.2.4.10.2. By Application
- 10.2.4.10.3. By Distribution Channel
11. Latin America Ashwagandha Extract Market
- 11.1. Market Size & Forecast, 2019-2030
- 11.1.1. By Value (USD Million)
- 11.2. Market Share & Forecast
- 11.2.1. By Form
- 11.2.2. By Application
- 11.2.3. By Distribution Channel
- 11.2.4. By Country
- 11.2.4.1. Brazil
- 11.2.4.1.1. By Form
- 11.2.4.1.2. By Application
- 11.2.4.1.3. By Distribution Channel
- 11.2.4.2. Mexico
- 11.2.4.2.1. By Form
- 11.2.4.2.2. By Application
- 11.2.4.2.3. By Distribution Channel
- 11.2.4.3. Argentina
- 11.2.4.3.1. By Form
- 11.2.4.3.2. By Application
- 11.2.4.3.3. By Distribution Channel
- 11.2.4.4. Peru
- 11.2.4.4.1. By Form
- 11.2.4.4.2. By Application
- 11.2.4.4.3. By Distribution Channel
- 11.2.4.5. Rest of LATAM
- 11.2.4.5.1. By Form
- 11.2.4.5.2. By Application
- 11.2.4.5.3. By Distribution Channel
12. Middle East & Africa Ashwagandha Extract Market
- 12.1. Market Size & Forecast, 2019-2030
- 12.1.1. By Value (USD Million)
- 12.2. Market Share & Forecast
- 12.2.1. By Form
- 12.2.2. By Application
- 12.2.3. By Distribution Channel
- 12.2.4. By Country
- 12.2.4.1. Saudi Arabia
- 12.2.4.1.1. By Form
- 12.2.4.1.2. By Application
- 12.2.4.1.3. By Distribution Channel
- 12.2.4.2. UAE
- 12.2.4.2.1. By Form
- 12.2.4.2.2. By Application
- 12.2.4.2.3. By Distribution Channel
- 12.2.4.3. Qatar
- 12.2.4.3.1. By Form
- 12.2.4.3.2. By Application
- 12.2.4.3.3. By Distribution Channel
- 12.2.4.4. Kuwait
- 12.2.4.4.1. By Form
- 12.2.4.4.2. By Application
- 12.2.4.4.3. By Distribution Channel
- 12.2.4.5. South Africa
- 12.2.4.5.1. By Form
- 12.2.4.5.2. By Application
- 12.2.4.5.3. By Distribution Channel
- 12.2.4.6. Nigeria
- 12.2.4.6.1. By Form
- 12.2.4.6.2. By Application
- 12.2.4.6.3. By Distribution Channel
- 12.2.4.7. Algeria
- 12.2.4.7.1. By Form
- 12.2.4.7.2. By Application
- 12.2.4.7.3. By Distribution Channel
- 12.2.4.8. Rest of MEA
- 12.2.4.8.1. By Form
- 12.2.4.8.2. By Application
- 12.2.4.8.3. By Distribution Channel
13. Competitive Landscape
- 13.1. List of Key Players and Their Offerings
- 13.2. Global Ashwagandha Extract Company Market Share Analysis, 2023
- 13.3. Competitive Benchmarking, By Operating Parameters
- 13.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
14. Global Ashwagandha Extract Market: Import & Export
15. Impact of Escalating Geopolitical Tensions on Global Ashwagandha Extract Market
16. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 16.1. Himalaya Global Holdings Ltd
- 16.2. Dabur India Ltd
- 16.3. Patanjali Ayurved Ltd
- 16.4. Sabinsa
- 16.5. Kerry Group PLC
- 16.6. NutriBoost B.V
- 16.7. Xi'an Sost Biotech Co., Ltd
- 16.8. Aunutra Industries Inc.
- 16.9. Carrubba, Inc.
- 16.10. Banyan Botanicals
- 16.11. Emami Limited
- 16.12. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
- 18.1. Qualitative Research
- 18.1.1. Primary & Secondary Research
- 18.2. Quantitative Research
- 18.3. Market Breakdown & Data Triangulation
- 18.3.1. Secondary Research
- 18.3.2. Primary Research
- 18.4. Breakdown of Primary Research Respondents, By Region
- 18.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable