Ashwagandha Extract Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Manufacturers and Future Opportunities Till 2033


Ashwagandha Extract Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Manufacturers and Future Opportunities Till 2033: SPER Market Research

 Category : Food & Beverages

 Published: Feb-2024
 Author: SPER Analyst

Ashwagandha Extract Market is projected to be worth USD 3.11 billion by 2033 and is anticipated to surge at a CAGR of 11.61%.

Ayurveda, a traditional alternative medicine system founded on Indian principles of natural healing, considers ashwagandha to be one of the most significant medicines. For millennia, people have utilised ashwagandha to boost energy, reduce stress, and enhance focus. The Sanskrit term for "ashwagandha" means "smell of the horse," alluding to the herb's perfume as well as its possible potentiation. As well as going by a number of other names, such as "Indian ginseng" and "winter cherry," Withania somnifera is its botanical name. Native to Southeast Asia and India, the ashwagandha plant is a tiny shrub with yellow blooms. To cure a range of ailments, including anxiety and infertility, people employ extracts or powder made from the plant's leaves or root.

Global Ashwagandha Extract Market Driving Factors and Challenges

Pharmaceutical companies have taken notice of the growing demand and awareness among senior persons regarding the benefits of ashwagandha extracts for digestion and joint pain. Other benefits of ashwagandha extracts, such lowered blood sugar and reduced stress, are also anticipated to help businesses. Because ashwagandha extract has nutritional benefits for cognition, immune system support, and other areas, sellers of the extract are now focusing on parents with children under five. Many herbal nutrition companies have overtaken the retail market with their supplements containing ashwagandha extract, claiming to enhance children's cognitive performance and increase focus. 

Despite the fact that ashwagandha extract has several advantages, its strong smell has restricted its usage in a variety of end products. In an attempt to overcome this obstacle, a number of industry participants have begun to provide it in capsule form. As an alternative to powder or liquid ashwagandha extract, capsules are more convenient and don't require milk, water, or juice as a basis when used. The potential drawbacks of using ashwagandha extract may hinder the growth of the worldwide market during the projected years. Overdosing on ashwagandha extracts has been linked to liver problems, vomiting, nausea, and diarrhoea. Additionally, there is proof that strong ashwagandha extracts can irritate the mucosa lining the intestines, leading to more digestive problems. The world market for ashwagandha extract may be impacted by this.

Impact of COVID-19 on Global Ashwagandha Extract Market
The market for ashwagandha extract was positively impacted by the COVID-19 pandemic in 2020. This was largely explained by its positive effects on both physical and mental health. A rising number of people adopted healthy lives and began consuming food that was both functional and naturally fortified during COVID-19. This resulted from the illnesses that people had, both mental and physical. The aforementioned mentioned factors contributed to an increase in ashwagandha extract sales during the COVID-19 period.

Ashwagandha Extract Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Arjuna Natural Extracts Ltd., Ideal Natural Extract, Ixoreal Biomed Pvt. Ltd., Kerry Group, Life Extension, Naturalin Bio-Resources Co. Ltd., Phyto Life Sciences Pvt. Ltd., Quad Lifesciences Pvt. Ltd., Sabinsa Corporation, Taos Herb Company and others.

Global Ashwagandha Extract Market Segmentation:

By Application: Based on the Application, Global Ashwagandha Extract Market is segmented as; Dietary Supplements, Food and Beverages, Sports Nutrition

By Distribution Channel: Based on the Distribution Channel, Global Ashwagandha Extract Market is segmented as; Business to Business, Business to Consumer

By Form: Based on the Form, Global Ashwagandha Extract Market is segmented as; Capsules/Tablets, Powder

By Type: Based on the Type, Global Ashwagandha Extract Market is segmented as; General Health, Immunity Health, Stress and Anxiety, Weight Loss

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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