The Global Ashwagandha Extract Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 10.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 61,767.85 thousand units, experiencing a growth of 11.1% (2019-2022).
In the Asia Pacific region, where Ayurveda is deeply rooted, ashwagandha extract is valued for its therapeutic properties and is incorporated into various traditional remedies and formulations. Consequently, the Asia Pacific region captured $456.15 million in the market in 2022. Also, the India market consumed 4,740.96 thousand units in 2022. Ashwagandha is culturally familiar to many people in the Asia Pacific region, where traditional herbal remedies are often preferred over pharmaceutical interventions.
Many consumers are adopting plant-based diets for health, environmental, and ethical reasons. Ashwagandha extract, derived from the roots of the Withania somnifera plant, fits well within plant-based dietary patterns, making it an attractive choice for individuals following vegan or vegetarian lifestyles. It is rich in bioactive compounds, including alkaloids, steroidal lactones (withanolides), and flavonoids, which are believed to offer various health benefits. Thus, because of the increasing popularity of plant-based diets, the market is anticipated to increase significantly.
Additionally, E-commerce platforms make its products accessible to consumers, regardless of location. As per the International Trade Administration, global e-commerce sales for B2B businesses have gradually increased over the last decade, with the global B2B e-commerce industry expected to be worth USD$36 trillion by 2026. Hence, rapid shift toward e-commerce platforms has been a pivotal factor in driving the growth of the market.
However, Regulatory frameworks governing dietary supplements, including ashwagandha extract, often involve complex compliance requirements related to product formulation, labeling, advertising, and safety standards. Navigating these rules may be time-consuming and costly for manufacturers, mainly small and medium-sized enterprises, resulting in delayed product launches and increased operational costs. Thus, regulatory challenges can slow down the growth of the market.
By Distribution Channel Analysis
Based on distribution channel, the market is classified into business to business and business to consumer. The business to consumer segment acquired the 67.45% revenue share in the market in 2022. In terms of volume, business to consumer segment registered 1,01,064.55 thousand units in 2022. Business to consumer (B2C) marketing efforts, including advertising, social media campaigns, and educational content, are crucial in growing awareness about the health benefits of ashwagandha extract.
By Form Analysis
On the basis of form, the market is divided into powder, capsules/tablets, and others. The powder segment garnered a 31.28% revenue share in the market in 2022. In terms of volume, powder segment consumed 11,567.41 thousand units of Powder (Pack of 1 KG) in 2022. Its powder offers versatility in consumption. It can be easily incorporated into numerous formulations, such as smoothies, beverages, protein shakes, and recipes. This versatility appeals to consumers seeking convenient ways to incorporate ashwagandha into their daily routines.
By Application Analysis
By application, the market is categorized into sports nutrition, food & beverages, dietary supplements, and others. The dietary supplements segment covered the 40.58% revenue share in the market in 2022. In terms of volume, dietary supplements segment utilized 25,576.71 thousand units in 2022. Food Processing Industries estimates that the Indian dietary supplement industry will be worth USD 3924.44 million in 2020 and USD 10,198.57 million by 2026, representing a 22% annual growth rate.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 25.20% revenue share in the market. In terms of volume, North America region would consume 37,780.91 thousand units in 2022. The availability of the products has increased in North America, with a wide range of supplements, beverages, and functional foods incorporating ashwagandha extract hitting the market.
List of Key Companies Profiled
- Kerry Group PLC
- Dabur India Ltd.
- Emami Limited
- The Procter and Gamble Company
- Patanjali Ayurved Limited
- Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Unilever PLC
- Taos Herb Company
- Kairali Ayurvedic Group
Global Ashwagandha Extract Market Report Segmentation
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
- Business to Consumer
- Business to Business
By Form (Volume, Thousand Units, USD Billion, 2019-2030)
- Capsules/Tablets
- Powder
- Others
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
- Dietary Supplements
- Sports Nutrition
- Food & Beverages
- Others
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Ashwagandha Extract Market, by Distribution Channel
- 1.4.2Global Ashwagandha Extract Market, by Form
- 1.4.3Global Ashwagandha Extract Market, by Application
- 1.4.4Global Ashwagandha Extract Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Global Ashwagandha Extract Market by Distribution Channel
- 4.1Global Business to Consumer Market by Region
- 4.2Global Business to Business Market by Region
Chapter 5.Global Ashwagandha Extract Market by Form
- 5.1Global Capsules/Tablets Market by Region
- 5.2Global Powder Market by Region
- 5.3Global Others Market by Region
Chapter 6.Global Ashwagandha Extract Market by Application
- 6.1Global Dietary Supplements Market by Region
- 6.2Global Sports Nutrition Market by Region
- 6.3Global Food & Beverages Market by Region
- 6.4Global Others Market by Region
Chapter 7.Global Ashwagandha Extract Market by Region
- 7.1North America Ashwagandha Extract Market
- 7.1.1North America Ashwagandha Extract Market by Distribution Channel
- 7.1.1.1North America Business to Consumer Market by Country
- 7.1.1.2North America Business to Business Market by Country
- 7.1.2North America Ashwagandha Extract Market by Form
- 7.1.2.1North America Capsules/Tablets Market by Country
- 7.1.2.2North America Powder Market by Country
- 7.1.2.3North America Others Market by Country
- 7.1.3North America Ashwagandha Extract Market by Application
- 7.1.3.1North America Dietary Supplements Market by Country
- 7.1.3.2North America Sports Nutrition Market by Country
- 7.1.3.3North America Food & Beverages Market by Country
- 7.1.3.4North America Others Market by Country
- 7.1.4North America Ashwagandha Extract Market by Country
- 7.1.4.1US Ashwagandha Extract Market
- 7.1.4.1.1US Ashwagandha Extract Market by Distribution Channel
- 7.1.4.1.2US Ashwagandha Extract Market by Form
- 7.1.4.1.3US Ashwagandha Extract Market by Application
- 7.1.4.2Canada Ashwagandha Extract Market
- 7.1.4.2.1Canada Ashwagandha Extract Market by Distribution Channel
- 7.1.4.2.2Canada Ashwagandha Extract Market by Form
- 7.1.4.2.3Canada Ashwagandha Extract Market by Application
- 7.1.4.3Mexico Ashwagandha Extract Market
- 7.1.4.3.1Mexico Ashwagandha Extract Market by Distribution Channel
- 7.1.4.3.2Mexico Ashwagandha Extract Market by Form
- 7.1.4.3.3Mexico Ashwagandha Extract Market by Application
- 7.1.4.4Rest of North America Ashwagandha Extract Market
- 7.1.4.4.1Rest of North America Ashwagandha Extract Market by Distribution Channel
- 7.1.4.4.2Rest of North America Ashwagandha Extract Market by Form
- 7.1.4.4.3Rest of North America Ashwagandha Extract Market by Application
- 7.2Europe Ashwagandha Extract Market
- 7.2.1Europe Ashwagandha Extract Market by Distribution Channel
- 7.2.1.1Europe Business to Consumer Market by Country
- 7.2.1.2Europe Business to Business Market by Country
- 7.2.2Europe Ashwagandha Extract Market by Form
- 7.2.2.1Europe Capsules/Tablets Market by Country
- 7.2.2.2Europe Powder Market by Country
- 7.2.2.3Europe Others Market by Country
- 7.2.3Europe Ashwagandha Extract Market by Application
- 7.2.3.1Europe Dietary Supplements Market by Country
- 7.2.3.2Europe Sports Nutrition Market by Country
- 7.2.3.3Europe Food & Beverages Market by Country
- 7.2.3.4Europe Others Market by Country
- 7.2.4Europe Ashwagandha Extract Market by Country
- 7.2.4.1Germany Ashwagandha Extract Market
- 7.2.4.1.1Germany Ashwagandha Extract Market by Distribution Channel
- 7.2.4.1.2Germany Ashwagandha Extract Market by Form
- 7.2.4.1.3Germany Ashwagandha Extract Market by Application
- 7.2.4.2UK Ashwagandha Extract Market
- 7.2.4.2.1UK Ashwagandha Extract Market by Distribution Channel
- 7.2.4.2.2UK Ashwagandha Extract Market by Form
- 7.2.4.2.3UK Ashwagandha Extract Market by Application
- 7.2.4.3France Ashwagandha Extract Market
- 7.2.4.3.1France Ashwagandha Extract Market by Distribution Channel
- 7.2.4.3.2France Ashwagandha Extract Market by Form
- 7.2.4.3.3France Ashwagandha Extract Market by Application
- 7.2.4.4Russia Ashwagandha Extract Market
- 7.2.4.4.1Russia Ashwagandha Extract Market by Distribution Channel
- 7.2.4.4.2Russia Ashwagandha Extract Market by Form
- 7.2.4.4.3Russia Ashwagandha Extract Market by Application
- 7.2.4.5Spain Ashwagandha Extract Market
- 7.2.4.5.1Spain Ashwagandha Extract Market by Distribution Channel
- 7.2.4.5.2Spain Ashwagandha Extract Market by Form
- 7.2.4.5.3Spain Ashwagandha Extract Market by Application
- 7.2.4.6Italy Ashwagandha Extract Market
- 7.2.4.6.1Italy Ashwagandha Extract Market by Distribution Channel
- 7.2.4.6.2Italy Ashwagandha Extract Market by Form
- 7.2.4.6.3Italy Ashwagandha Extract Market by Application
- 7.2.4.7Rest of Europe Ashwagandha Extract Market
- 7.2.4.7.1Rest of Europe Ashwagandha Extract Market by Distribution Channel
- 7.2.4.7.2Rest of Europe Ashwagandha Extract Market by Form
- 7.2.4.7.3Rest of Europe Ashwagandha Extract Market by Application
- 7.3Asia Pacific Ashwagandha Extract Market
- 7.3.1Asia Pacific Ashwagandha Extract Market by Distribution Channel
- 7.3.1.1Asia Pacific Business to Consumer Market by Country
- 7.3.1.2Asia Pacific Business to Business Market by Country
- 7.3.2Asia Pacific Ashwagandha Extract Market by Form
- 7.3.2.1Asia Pacific Capsules/Tablets Market by Country
- 7.3.2.2Asia Pacific Powder Market by Country
- 7.3.2.3Asia Pacific Others Market by Country
- 7.3.3Asia Pacific Ashwagandha Extract Market by Application
- 7.3.3.1Asia Pacific Dietary Supplements Market by Country
- 7.3.3.2Asia Pacific Sports Nutrition Market by Country
- 7.3.3.3Asia Pacific Food & Beverages Market by Country
- 7.3.3.4Asia Pacific Others Market by Country
- 7.3.4Asia Pacific Ashwagandha Extract Market by Country
- 7.3.4.1China Ashwagandha Extract Market
- 7.3.4.1.1China Ashwagandha Extract Market by Distribution Channel
- 7.3.4.1.2China Ashwagandha Extract Market by Form
- 7.3.4.1.3China Ashwagandha Extract Market by Application
- 7.3.4.2Japan Ashwagandha Extract Market
- 7.3.4.2.1Japan Ashwagandha Extract Market by Distribution Channel
- 7.3.4.2.2Japan Ashwagandha Extract Market by Form
- 7.3.4.2.3Japan Ashwagandha Extract Market by Application
- 7.3.4.3India Ashwagandha Extract Market
- 7.3.4.3.1India Ashwagandha Extract Market by Distribution Channel
- 7.3.4.3.2India Ashwagandha Extract Market by Form
- 7.3.4.3.3India Ashwagandha Extract Market by Application
- 7.3.4.4South Korea Ashwagandha Extract Market
- 7.3.4.4.1South Korea Ashwagandha Extract Market by Distribution Channel
- 7.3.4.4.2South Korea Ashwagandha Extract Market by Form
- 7.3.4.4.3South Korea Ashwagandha Extract Market by Application
- 7.3.4.5Singapore Ashwagandha Extract Market
- 7.3.4.5.1Singapore Ashwagandha Extract Market by Distribution Channel
- 7.3.4.5.2Singapore Ashwagandha Extract Market by Form
- 7.3.4.5.3Singapore Ashwagandha Extract Market by Application
- 7.3.4.6Malaysia Ashwagandha Extract Market
- 7.3.4.6.1Malaysia Ashwagandha Extract Market by Distribution Channel
- 7.3.4.6.2Malaysia Ashwagandha Extract Market by Form
- 7.3.4.6.3Malaysia Ashwagandha Extract Market by Application
- 7.3.4.7Rest of Asia Pacific Ashwagandha Extract Market
- 7.3.4.7.1Rest of Asia Pacific Ashwagandha Extract Market by Distribution Channel
- 7.3.4.7.2Rest of Asia Pacific Ashwagandha Extract Market by Form
- 7.3.4.7.3Rest of Asia Pacific Ashwagandha Extract Market by Application
- 7.4LAMEA Ashwagandha Extract Market
- 7.4.1LAMEA Ashwagandha Extract Market by Distribution Channel
- 7.4.1.1LAMEA Business to Consumer Market by Country
- 7.4.1.2LAMEA Business to Business Market by Country
- 7.4.2LAMEA Ashwagandha Extract Market by Form
- 7.4.2.1LAMEA Capsules/Tablets Market by Country
- 7.4.2.2LAMEA Powder Market by Country
- 7.4.2.3LAMEA Others Market by Country
- 7.4.3LAMEA Ashwagandha Extract Market by Application
- 7.4.3.1LAMEA Dietary Supplements Market by Country
- 7.4.3.2LAMEA Sports Nutrition Market by Country
- 7.4.3.3LAMEA Food & Beverages Market by Country
- 7.4.3.4LAMEA Others Market by Country
- 7.4.4LAMEA Ashwagandha Extract Market by Country
- 7.4.4.1Brazil Ashwagandha Extract Market
- 7.4.4.1.1Brazil Ashwagandha Extract Market by Distribution Channel
- 7.4.4.1.2Brazil Ashwagandha Extract Market by Form
- 7.4.4.1.3Brazil Ashwagandha Extract Market by Application
- 7.4.4.2Argentina Ashwagandha Extract Market
- 7.4.4.2.1Argentina Ashwagandha Extract Market by Distribution Channel
- 7.4.4.2.2Argentina Ashwagandha Extract Market by Form
- 7.4.4.2.3Argentina Ashwagandha Extract Market by Application
- 7.4.4.3UAE Ashwagandha Extract Market
- 7.4.4.3.1UAE Ashwagandha Extract Market by Distribution Channel
- 7.4.4.3.2UAE Ashwagandha Extract Market by Form
- 7.4.4.3.3UAE Ashwagandha Extract Market by Application
- 7.4.4.4Saudi Arabia Ashwagandha Extract Market
- 7.4.4.4.1Saudi Arabia Ashwagandha Extract Market by Distribution Channel
- 7.4.4.4.2Saudi Arabia Ashwagandha Extract Market by Form
- 7.4.4.4.3Saudi Arabia Ashwagandha Extract Market by Application
- 7.4.4.5South Africa Ashwagandha Extract Market
- 7.4.4.5.1South Africa Ashwagandha Extract Market by Distribution Channel
- 7.4.4.5.2South Africa Ashwagandha Extract Market by Form
- 7.4.4.5.3South Africa Ashwagandha Extract Market by Application
- 7.4.4.6Nigeria Ashwagandha Extract Market
- 7.4.4.6.1Nigeria Ashwagandha Extract Market by Distribution Channel
- 7.4.4.6.2Nigeria Ashwagandha Extract Market by Form
- 7.4.4.6.3Nigeria Ashwagandha Extract Market by Application
- 7.4.4.7Rest of LAMEA Ashwagandha Extract Market
- 7.4.4.7.1Rest of LAMEA Ashwagandha Extract Market by Distribution Channel
- 7.4.4.7.2Rest of LAMEA Ashwagandha Extract Market by Form
- 7.4.4.7.3Rest of LAMEA Ashwagandha Extract Market by Application
Chapter 8.Company Profiles
- 8.1Kerry Group PLC
- 8.1.1Company Overview
- 8.1.2Financial Analysis
- 8.1.3Segmental and Regional Analysis
- 8.1.4Research & Development Expenses
- 8.1.5Recent strategies and developments:
- 8.1.5.1Acquisition and Mergers:
- 8.1.6SWOT Analysis
- 8.2Dabur India Ltd.
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental and Regional Analysis
- 8.2.4Research & Development Expense
- 8.2.5SWOT Analysis
- 8.3Emami Limited
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental Analysis
- 8.3.4SWOT Analysis
- 8.4The Procter and Gamble Company
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4Research & Development Expense
- 8.4.5Recent strategies and developments:
- 8.4.5.1Geographical Expansions:
- 8.4.6SWOT Analysis
- 8.5Patanjali Ayurved Limited
- 8.5.1Company Overview
- 8.5.2SWOT Analysis
- 8.6Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
- 8.6.1Company Overview
- 8.6.2Recent strategies and developments:
- 8.6.2.1Product Launches and Product Expansions:
- 8.6.3SWOT Analysis
- 8.7Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- 8.7.1Company Overview
- 8.7.2SWOT Analysis
- 8.8Unilever PLC
- 8.8.1Company Overview
- 8.8.2Financial Analysis
- 8.8.3Segmental and Regional Analysis
- 8.8.4Research & Development Expense
- 8.8.5Recent strategies and developments:
- 8.8.5.1Acquisition and Mergers:
- 8.8.6SWOT Analysis
- 8.9Taos Herb Company
- 8.9.1Company Overview
- 8.9.2SWOT Analysis
- 8.10.Kairali Ayurvedic Group
- 8.10.1Company Overview
- 8.10.2SWOT Analysis
Chapter 9.Winning Imperatives of Ashwagandha Extract Market