Ashwagandha Market Reach USD to success Revenue to CAGR in 2022s to 2030 |Sabinsa, Carrubba, NutriBoost B.V
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Rapidly growing adoption of ayurvedic medicine is a key factor driving ashwagandha market revenue growth
VANCOUVER, B.C., CANADA, February 7, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the global ashwagandha market is predicted to grow at a rate of 11.4% over the forecast period, reaching a value of USD 42.8 million in 2021. Due to factors like the sharp rise in demand for ashwagandha supplements, the herb's rising popularity due to its nutritional and health benefits, and the sharp rise in demand for ashwagandha in the pharmaceutical and functional food & beverage industries, the ashwagandha market is experiencing revenue growth. Throughout the ages, ashwagandha has been used for therapeutic purposes in ayurveda and sold as a dietary supplement in many nations. In the Ayurvedic system, it is used as a nerve tonic and has nutritional benefits for sports nutrition, memory, ageing, and immune support.
Ashwagandha has been listed in the herbal section as a natural weight management therapy because it is also advised for weight loss. Additionally, it has a positive impact on the immune system, and in the winter, when immune health is a worry, sales of the product increase. In addition, the growing demand for herbal medications and global increases in health consciousness are driving the growth of the ashwagandha market. The strong belief that people have in botanical or herbal supplements is what is fuelling ashwagandha demand.
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Ashwagandha is well known for its ability to reduce anxiety and relieve stress. Additionally, studies show that it also seems to lower cortisol levels. In both healthy and diabetic individuals, ashwagandha acts as a dietary supplement to lower blood sugar levels, boost insulin production, and enhance insulin sensitivity. Infections, fatigue, and weight gain are just a few of the health problems that can be avoided by controlling blood sugar levels. Additionally, a growing body of evidence points to ashwagandha's efficiency in lengthening and increasing the quality of insomniacs' sleep. Athletes are now using ashwagandha more and more frequently.
Some Key Highlights from the Report
In 2021, the powder market contributed a sizeable portion of sales. To speed up the body's absorption of the powdered form of ashwagandha, it can also be combined with liquids like water, juice, honey, or milk. There are no additions or chemicals utilised in the production of powdered ashwagandha; only natural ingredients are employed. This powder gives the body vital nutrients like calcium, vitamin C, dietary fibre, protein, and carbs. This ashwagandha powder also has relaxing, energising, and nourishing properties that have given it a well-deserved reputation. It is very easy to use and has good solubility in water and other liquids.
A modest revenue share went to the internet retail sector in 2021. Over the projected period, the online segment is anticipated to grow as a result of key advantages provided by online ashwagandha purchases, such as accessibility, simplicity, straightforward direct delivery of items to doorsteps, and a convenient method of payment, among others.
In 2021, the category for dietary supplements contributed a sizeable portion of sales. Due to the multiple benefits they offer consumers, dietary supplements are very popular. Dietary supplements are advantageous because of the combination of components they contain. As the value of a strong immune system grows, researchers are witnessing the introduction of the most significant immunity-boosting substances on the market. A number of ailments have been treated with the ashwagandha plant. Additionally, ashwagandha extracts are frequently sold as a dry, filtered powder that can be mixed with honey and water to make a beverage.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Ashwagandha market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Ashwagandha market and pinpoint the fundamental growth trends.
Key players in the market include 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.
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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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.
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
Regional Landscape section of the Ashwagandha report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
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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