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Rapidly growing adoption of ayurvedic medicine is a key factor driving ashwagandha market revenue growth

VANCOUVER, BC, CANADA, November 3, 2022 /EINPresswire.com/ -- A Global Ashwagandha Market Research Report from Emergen Research has been formulated by analyzing key business details and an extensive geographic spread of the Ashwagandha industry, encompassing key business details and extensive geographical coverage. In addition to providing crucial statistical data about the Ashwagandha market, this study covers qualitative and quantitative aspects of the Ashwagandha market. In addition to historical data from 2019 to 2020, the research study provides an accurate forecast until 2030 for the Ashwagandha market. A comprehensive analysis of established and emerging players in the market is summarized in the report.

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. 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.

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. In addition, calming, revitalizing, and nourishing benefits of this ashwagandha powder have earned it a well-deserved reputation. It has an excellent solubility in water and other liquids and it is very simple to use.

The online retail segment accounted for a moderate revenue share in 2021. Major benefits offered by online purchases of ashwagandha, including availability, convenience, easy direct delivery of goods to doorstep, and a convenient way of payment, among others, are expected to drive expansion of the online segment over the forecast period.

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. Furthermore, extracts of ashwagandha are often available as a dry, filtered powder that may be consumed by mixing it with honey and water.

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.

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Market Overview:

The report bifurcates the Ashwagandha market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

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

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Ashwagandha market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report:

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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Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

Research Report on the Ashwagandha Market Addresses the Following Key Questions:

Who are the dominant players of the Ashwagandha market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Ashwagandha market?

What are the key growth drivers and restraining factors of the Ashwagandha market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Ashwagandha market and its key segments?

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