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. Ashwagandha, also known as withania somnifera, is a popular plant used in Ayurvedic medicine. It is a small shrub that belongs to the family Solanaceae. It might be helpful for a number of diseases, mostly as a nervine tonic (has a soothing effect on nerves). Ashwagandha is also referred to as Indian ginseng or Indian winter cherry. Ashwagandha’s rasayana (tonic) benefit is well known. Rasayana is a mixture of herbs or metal that fosters joy and a young-looking condition of physical and mental health.
Ashwagandha may have anxiolytic (anxiety-relieving) properties, much like the drug lorazepam. Ashwagandha may also be effective as an antidepressant. As a result, it can be inferred that ashwagandha may help with the treatment of anxiety and depression. It’s probable that ashwagandha has widely recognised and documented anti-arthritic properties. The nervous system’s ability to be calmed by ashwagandha may help it to lessen discomfort. In a test research, ashwagandha-containing formula was given to the participants. The potency of the pain and impairment seems to be lessened by this herbal therapy. As a result, the ashwagandha plant has been acquiring a lot of popularity in the pharmaceutical business due to the aforementioned medical properties.
During the anticipated period, demand for ashwagandha extract is anticipated to increase due to rising consumer demand for natural functional foods and beverages, increased consumer interest in leading healthy lifestyles, and increased spending on nutritious and fortified foods. Ashwagandha has many health benefits, including lowering cholesterol levels, increasing male fertility, reducing anxiety and stress, fighting diabetes, controlling hair loss, treating cancer, stimulating the thyroid gland, lessening eye diseases, and having anti-tumor, anti-inflammatory, and antibacterial properties. It also slows the progression of osteoporosis and rheumatoid arthritis. As a result, throughout the anticipated period, the aforementioned aspects are likely to support the growth of the ashwagandha extract market.
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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.
In 2021, the internet retail sector contributed a modest portion of total revenue. The availability, simplicity, straightforward direct delivery of items to the doorstep, and a convenient method of payment, among other key advantages provided by online ashwagandha purchases, are anticipated to fuel the growth of the online segment throughout the forecast period.
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.
In 2021, the Europe market contributed a modest portion of total sales. Market revenue growth is anticipated to be fueled by rising consumer demand for Ayurvedic medicines as a treatment for a range of health issues, including arthritis, constipation, sleeplessness, diabetes, stress, and gastrointestinal problems. For instance, the AYUSH Ministry and the London School of Hygiene and Tropical Medicine (LSHTM) worked together on August 21, 2021, to conduct a study on Ashwagandha for improving COVID-19 recovery. A Memorandum of Understanding (MoU) was signed by the London School of Hygiene and Tropical Medicine (LSHTM) and the All India Institute of Ayurveda (AIIA), an independent organisation under the Ministry of AYUSH, to conduct clinical trials of ashwagandha on 2,000 people in Leicester, London, and Birmingham.
The NutriBoost B.V., Xi a Sost Biotech Co., Ltd., Aunutra Industries Inc., Himalaya Global Holdings Ltd., Sabinsa, Carrubba, Inc. Herbs Village, Banyan Botanicals, Dabur, and Patanjali Ayurved are a few notable firms in the global market study.
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Emergen Research has segmented the global ashwagandha market based on type, application, distribution channel, and region:
- Type Outlook (Revenue, USD Million; 2019-2030)
- Application Outlook (Revenue, USD Million; 2019-2030)
- Food & Beverage Industry
- Pharmaceutical Industry
- Cosmetic & Personal Care Industry
- Dietary Supplements
- Distributional Channel Outlook (Revenue, USD Million; 2019-2030)
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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