The global ashwagandha market is expected to reach USD 115,502.48 thousand in 2030 from USD 48,263.72 thousand in 2022, growing at a CAGR of 11.6% in the forecast period of 2023 to 2030.
Market Segmentation:
Global Ashwagandha Market, By Type (KSM-66, Sensoril, Hydro-Alcoholic Ashwagandha, Crude Ashwagandha, and Others, Product Type (Ashwagandha Root Product, Ashwagandha Leaf Products, and Ashwagandha Leaf and Root Mix Product), Withanolides Content (1% Withanolides, 3 2% Withanolides, 2.5% Withanolides, 5% Withanolides, 10% Withanolides, and Others), Category (Regular, and Full Spectrum), Form (Powder, Capsule, and Liquid), Function (Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety and Stress, Brain Health, Muscle Strength, and Others), and Application (Food & Beverages, Pharmaceutical, Dietary Supplements, Sports Nutrition, and Others), Country (U.S., Canada, and Mexico, Germany, U.K. France, Spain, Belgium, Russia, Netherland, Italy, Turkey, Switzerland, Sweden, Denmark, Norway, Finland, Rest of Europe, India, China, Japan, Australia, South Korea, Singapore, Thailand, Indonesia, Taiwan, Hong Kong, Malaysia, New Zealand, Phillipipnes, Rest of Asia-Pacific, Brazil, Argentina Rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, Bahrain, Oman, Israel, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2030.
Overview of Global Ashwagandha Market Dynamics :
- Driver
- Rapidly increase in demand for ashwagandha supplements
- Restraint
- Less awareness regarding the benefits of ashwagandha
- Opportunity
- Rapidly growing adoption of ayurvedic medicines
Market Players:
Some of the major players operating in the global ashwagandha market are:
- KSM66 Ashwagandha (Ixoreal Biomed)
- Sami-Sabinsa Group
- Dabur India Limited (2022)
- Himalaya Wellness Company
- Swanson
- Zanducare (A Subsidiary of Emami Ltd.)
- Patanjali Ayurved
- Herbochem
- Apex International
- Kerry Group plc (2022)
- Kairali Ayurvedic Products
- Bioprex Labs
- Natreon Inc.
- Medikonda Nutrients
- Carrubba. Inc
- Organic India Pvt. Ltd.
- Zoic Pharmaceuticals.
- Creative Enzymes
- Aunutra Industries Inc.
TABLE OF CONTENTS
1 INTRODUCTION 75
- 1.1 OBJECTIVES OF THE STUDY 75
- 1.2 MARKET DEFINITION 75
- 1.3 OVERVIEW OF THE GLOBAL ASHWAGANDHA MARKET 75
- 1.4 LIMITATION 77
- 1.5 MARKETS COVERED 77
2 MARKET SEGMENTATION 83
- 2.1 MARKETS COVERED 83
- 2.2 GEOGRAPHICAL SCOPE 84
- 2.3 YEARS CONSIDERED FOR THE STUDY 85
- 2.4 CURRENCY AND PRICING 85
- 2.5 DBMR TRIPOD DATA VALIDATION MODEL 86
- 2.6 TYPE LIFE-LINE CURVE 89
- 2.7 MULTIVARIATE MODELING 90
- 2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 91
- 2.9 DBMR MARKET POSITION GRID 92
- 2.10 MARKET APPLICATION COVERAGE GRID 93
- 2.11 DBMR MARKET CHALLENGE MATRIX 94
- 2.12 VENDOR SHARE ANALYSIS 95
- 2.13 SECONDARY SOURCES 96
- 2.14 ASSUMPTIONS 96
3 EXECUTIVE SUMMARY 97
4 PREMIUM INSIGHTS 100
- 4.1 IMPACT OF ECONOMIC SLOWDOWN 101
- 4.1.1 IMPACT ON PRICE 101
- 4.1.2 IMPACT ON SUPPLY CHAIN 101
- 4.1.3 IMPACT ON SHIPMENT 101
- 4.1.4 IMPACT ON COMPANY'S STRATEGIC DECISIONS 102
- 4.2 PRICING INDEX 103
- 4.3 NEW PRODUCT LAUNCHES 104
- 4.4 MARKETING STRATEGIES ADOPTED BY KEY MARKET PLAYERS 105
- 4.4.1 PROMOTING PRODUCTS BY EMPHASIZING DIFFERENT FUNCTIONS 105
- 4.4.2 PARTNERSHIPS WITH OTHER BRANDS 105
- 4.4.3 A VAST NETWORK OF DISTRIBUTION 106
- 4.5 PRODUCTION CAPACITY OF KEY MANUFACTURING COMPANIES 107
- 4.6 GLOBAL ASHWAGANDHA MARKET- INDUSTRY TRENDS AND FUTURE PERSPECTIVE 108
- 4.6.1 RISING ADOPTION OF ASHWAGANDHA INGREDIENTS BY END USERS 108
- 4.6.2 GROWING COLLABORATIONS AND PARTNERSHIPS 108
- 4.7 GLOBAL ASHWAGHANDHA MARKET: LABELLING CLAIMS 108
- 4.8 FACTORS INFLUENCING PURCHASING DECISION OF CUSTOMERS 112
- 4.9 SUPPLY CHAIN OF GLOBAL ASHWAGANDHA MARKET 113
- 4.9.1 RAW MATERIAL PROCUREMENT 113
- 4.9.2 ASHWAGANDHA PRODUCTION/PROCESSING 113
- 4.9.3 MARKETING AND DISTRIBUTION 114
- 4.9.4 END USERS 114
- 4.10 GLOBAL ASHWAGANDHA MARKET: REGULATORY FRAMEWORK 115
- 4.10.1 EUROPE 115
- 4.10.1.1 GLOBAL-REGULATION: 115
- 4.10.1.2 REGULATION BY BELGIUM: 115
- 4.10.1.3 REGULATION BY HUNGARY: 115
- 4.10.2 U.S. 115
5 MARKET OVERVIEW 116
- 5.1 DRIVERS 118
- 5.1.1 RAPIDLY INCREASE IN DEMAND FOR ASHWAGANDHA SUPPLEMENTS 118
- 5.1.2 GROW IN POPULARITY OF ASHWAGANDHA OWING TO ITS NUTRITIONAL AND HEALTH BENEFITS 119
- 5.1.3 SURGE IN DEMAND FOR ASHWAGANDHA IN FUNCTIONAL FOOD AND BEVERAGES AND PHARMACEUTICAL INDUSTRY 119
- 5.2 RESTRAINTS 121
- 5.2.1 LESS AWARENESS REGARDING THE BENEFITS OF ASHWAGANDHA 121
- 5.2.2 SIDE EFFECTS OF ASHWAGANDHA 122
- 5.3 OPPORTUNITIES 123
- 5.3.1 RAPIDLY GROWING ADOPTION OF AYURVEDIC MEDICINES 123
- 5.3.2 SEDENTARY LIFESTYLE AMONG PEOPLE IS INCREASING DEMAND FOR ASHWAGANDHA TO PROMOTE HEALTH AND WELLNESS 125
- 5.3.3 RISE IN DEMAND FOR ASHWAGANDHA MEDICINES & SUPPLEMENTS DUE TO COVID-19 PANDEMIC 128
- 5.4 CHALLENGES 129
- 5.4.1 POOR QUALITY OF CLINICAL RESEARCH ON AYURVEDIC MEDICINES 129
- 5.4.2 SUPPLY CHAIN DISRUPTION DUE TO COVID-19 130
6 GLOBAL ASHWAGANDHA MARKET, BY TYPE 133
- 6.1 OVERVIEW 134
- 6.2 KSM-66 135
- 6.3 SENSORIL 136
- 6.4 HYDRO-ALCOHOLIC ASHWAGANDHA 136
- 6.5 CRUDE ASHWAGANDHAA 137
7 GLOBAL ASHWAGANDHA MARKET, BY PRODUCT TYPE 138
- 7.1 OVERVIEW 139
- 7.2 ASHWAGANDHA ROOT PRODUCT 140
- 7.3 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 140
- 7.4 ASHWAGANDHA LEAF PRODUCTS 140
8 GLOBAL ASHWAGANDHA MARKET, BY WITHANOLIDES CONTENT 142
- 8.1 OVERVIEW 143
- 8.2 5% WITHANOLIDES 144
- 8.3 10% WITHANOLIDES 144
- 8.4 2.5% WITHANOLIDES 144
- 8.5 2% WITHANOLIDES 145
- 8.6 1% WITHANOLIDES 146
- 8.7 OTHERS 146
9 GLOBAL ASHWAGANDHA MARKET, BY CATEGORY 147
- 9.1 OVERVIEW 148
- 9.2 FULL SPECTRUM 149
- 9.3 REGULAR 149
10 GLOBAL ASHWAGANDHA MARKET, BY FORM 150
- 10.1 OVERVIEW 151
- 10.2 POWDER 152
- 10.3 CAPSULE AND PILLS 152
- 10.4 LIQUID 153
11 GLOBAL ASHWAGANDHA MARKET, BY FUNCTION 154
- 11.1 OVERVIEW 155
- 11.2 REDUCED ANXIETY AND STRESS 156
- 11.3 BRAIN HEALTH 156
- 11.4 IMPROVED IMMUNITY 157
- 11.5 IMPROVED STAMINA 157
- 11.6 MUSCLE STRENGTH 157
- 11.6.1 MUSCLE SIZE & STRENGTH 158
- 11.6.2 MUSCLE RECOVERY 158
- 11.7 OVERALL WELLBEING 158
- 11.8 OTHERS 159
12 GLOBAL ASHWAGANDHA MARKET, BY APPLICATION 160
- 12.1 OVERVIEW 161
- 12.2 DIETARY SUPPLEMENTS 162
- 12.2.1 DIETARY SUPPLEMENTS, BY TYPE 162
- 12.2.1.1 IMMUNITY SUPPLEMENTS 162
- 12.2.1.2 BONE AND JOINT HEALTH SUPPLEMENTS 162
- 12.2.1.3 BRAIN HEALTH SUPPLEMENTS 163
- 12.2.1.4 OVERALL WELLBEING SUPPLEMENTS 163
- 12.2.1.5 SKIN HEALTH SUPPLEMENTS 163
- 12.2.1.6 OTHERS 163
- 12.2.2 DIETARY SUPPLEMENTS, BY ASHWAGANDHA TYPE 163
- 12.2.2.1 KSM-66 163
- 12.2.2.2 SENSORIL 163
- 12.2.2.3 OTHERS 163
- 12.2.3 DIETARY SUPPLEMENTS, BY ASHWAGANDHA PRODUCT TYPE 164
- 12.2.3.1 ASHWAGANDHA ROOT PRODUCT 164
- 12.2.3.2 ASHWAGANDHA LEAF PRODUCTS 164
- 12.2.3.3 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 164
- 12.3 PHARMACEUTICAL 164
- 12.3.1 PHARMACEUTICAL, BY ASHWAGANDHA TYPE 165
- 12.3.1.1 KSM-66 165
- 12.3.1.2 SENSORIL 165
- 12.3.1.3 OTHERS 165
- 12.3.2 PHARMACEUTICAL, BY ASHWAGANDHA PRODUCT TYPE 165
- 12.3.2.1 ASHWAGANDHA ROOT PRODUCT 166
- 12.3.2.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 166
- 12.3.2.3 ASHWAGANDHA LEAF PRODUCTS 166
- 12.3.3 FOOD & BEVERAGES 166
- 12.3.3.1 BEVERAGES 167
- 12.3.3.1.1 JUICES 167
- 12.3.3.1.2 FORTIFIED BEVERAGES 167
- 12.3.3.1.3 FUNCTIONAL BEVERAGES 168
- 12.3.3.1.4 FLAVORED MILK 168
- 12.3.3.1.5 MILK SHAKES 168
- 12.3.3.1.6 SMOOTHIES 168
- 12.3.3.1.7 PROCESSED MILK 168
- 12.3.3.1.8 OTHERS 168
- 12.3.3.2 PROCESSED FOOD 168
- 12.3.3.2.1 SAUCES, DRESSINGS AND CONDIMENTS 169
- 12.3.3.2.2 CANNED FRUITS & VEGETABLES 169
- 12.3.3.2.3 SOUPS 169
- 12.3.3.2.4 JAMS, PRESERVES & MARMALADES 169
- 12.3.3.2.5 READY MEALS 169
- 12.3.3.2.6 FRUIT & VEGETABLE PUREE 169
- 12.3.3.2.7 PICKLES 170
- 12.3.3.2.8 OTHERS 170
- 12.3.3.3 BAKERY 170
- 12.3.3.3.1 BREAD & ROLLS 170
- 12.3.3.3.2 BISCUIT 170
- 12.3.3.3.3 COOKIES & CRACKERS 171
- 12.3.3.3.4 CAKES, PASTRIES & TRUFFLE 171
- 12.3.3.3.5 TART & PIES 171
- 12.3.3.3.6 BROWNIES 171
- 12.3.3.3.7 OTHERS 171
- 12.3.3.4 FUNCTIONAL FOOD 171
- 12.3.3.5 DAIRY PRODUCTS 171
- 12.3.3.5.1 ICE CREAM 172
- 12.3.3.5.2 YOGURT 172
- 12.3.3.5.2.1 FROZEN 172
- 12.3.3.5.2.2 FRESH 172
- 12.3.3.5.3 CHEESE 172
- 12.3.3.5.4 OTHERS 172
- 12.3.3.6 BREAKFAST CEREALS 172
- 12.3.3.7 OTHERS 172
- 12.3.4 FOOD & BEVERAGES, BY ASHWAGANDHA TYPE 172
- 12.3.4.1 KSM-66 173
- 12.3.4.2 SENSORIL 173
- 12.3.4.3 OTHERS 173
- 12.3.5 FOOD & BEVERAGES, BY ASHWAGANDHA PRODUCT TYPE 173
- 12.3.5.1 ASHWAGANDHA ROOT PRODUCT 173
- 12.3.5.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 174
- 12.3.5.3 ASHWAGANDHA LEAF PRODUCTS 174
- 12.4 SPORTS NUTRITION 174
- 12.4.1 SPORTS NUTRITION, BY TYPE 174
- 12.4.1.1 PROTEIN POWDERS 174
- 12.4.1.2 SPORT DRINKS 175
- 12.4.1.3 SPORTS DRINK MIXES 175
- 12.4.1.4 OTHERS 175
- 12.4.2 SPORTS NUTRITION, BY ASHWAGANDHA TYPE 175
- 12.4.2.1 KSM-66 175
- 12.4.2.2 SENSORIL 175
- 12.4.2.3 OTHERS 175
- 12.4.3 SPORTS NUTRITION, BY ASHWAGANDHA PRODUCT TYPE 175
- 12.4.3.1 ASHWAGANDHA ROOT PRODUCT 176
- 12.4.3.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 176
- 12.4.3.3 ASHWAGANDHA LEAF PRODUCTS 176
- 12.5 OTHERS 176
- 12.5.1 OTHERS, BY ASHWAGANDHA TYPE 177
- 12.5.1.1 KSM-66 177
- 12.5.1.2 SENSORIL 177
- 12.5.1.3 OTHERS 177
- 12.5.2 OTHERS, BY ASHWAGANDHA PRODUCT TYPE 177
- 12.5.2.1 ASHWAGANDHA ROOT PRODUCT 177
- 12.5.2.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 178
- 12.5.2.3 ASHWAGANDHA LEAF PRODUCTS 178
13 GLOBAL ASHWAGANDHA MARKET, BY REGION 179
- 13.1 OVERVIEW 180
- 13.2 NORTH AMERICA 186
- 13.2.1 U.S. 199
- 13.2.2 MEXICO 207
- 13.2.3 CANADA 215
- 13.3 EUROPE 223
- 13.3.1 GERMANY 238
- 13.3.2 U.K. 248
- 13.3.3 FRANCE 258
- 13.3.4 SPAIN 268
- 13.3.5 BELGIUM 278
- 13.3.6 RUSSIA 288
- 13.3.7 NETHERLANDS 298
- 13.3.8 ITALY 308
- 13.3.9 TURKEY 318
- 13.3.10 SWITZERLAND 328
- 13.3.11 SWEDEN 338
- 13.3.12 DENMARK 348
- 13.3.13 NORWAY 358
- 13.3.14 FINLAND 368
- 13.3.15 REST OF EUROPE 378
- 13.4 ASIA-PACIFIC 379
- 13.4.1 INDIA 394
- 13.4.2 CHINA 404
- 13.4.3 JAPAN 414
- 13.4.4 AUSTRALIA 424
- 13.4.5 SOUTH KOREA 434
- 13.4.6 SINGAPORE 444
- 13.4.7 THAILAND 454
- 13.4.8 INDONESIA 464
- 13.4.9 TAIWAN 474
- 13.4.10 HONG KONG 484
- 13.4.11 MALAYSIA 494
- 13.4.12 NEW ZEALAND 504
- 13.4.13 PHILIPPINES 514
- 13.4.14 REST OF ASIA-PACIFIC 524
- 13.5 SOUTH AMERICA 525
- 13.5.1 BRAZIL 540
- 13.5.2 ARGENTINA 550
- 13.5.3 REST OF SOUTH AMERICA 560
- 13.6 MIDDLE EAST AND AFRICA 561
- 13.6.1 U.A.E. 574
- 13.6.2 SAUDI ARABIA 582
- 13.6.3 SOUTH AFRICA 590
- 13.6.4 EGYPT 598
- 13.6.5 QATAR 606
- 13.6.6 KUWAIT 614
- 13.6.7 BAHRAIN 622
- 13.6.8 OMAN 630
- 13.6.9 ISRAEL 638
- 13.6.10 REST OF MIDDLE EAST AND AFRICA 646