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Report
Global Ashwagandha Market - Industry Trends And Forecast To 2030
Market Report I 2023-06-01 I 691 Pages I Data Bridge Market Research
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
14 GLOBAL ASHWAGANDHA MARKET: COMPANY LANDSCAPE 647
14.1 COMPANY SHARE ANALYSIS: GLOBAL 647
14.2 COMPANY SHARE ANALYSIS: NORTH AMERICA 648
14.3 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 649
14.4 COMPANY SHARE ANALYSIS: EUROPE 650
15 SWOT ANALYSIS 651
16 COMPANY PROFILINGS 652
16.1 KSM66 ASHWAGANDHA (IXOREAL BIOMED) 652
16.1.1 COMPANY SNAPSHOT 652
16.1.2 COMPANY SHARE ANALYSIS 652
16.1.3 PRODUCT PORTFOLIO 653
16.1.4 RECENT DEVELOPMENT 653
16.2 SAMI-SABINSA GROUP 654
16.2.1 COMPANY SANPSHOT 654
16.2.2 COMPANY SHARE ANALYSIS 654
16.2.3 PRODUCT PORTFOLIO 655
16.2.4 RECENT DEVELOPMENTS 655
16.3 DABUR INDIA LIMITED 657
16.3.1 COMPANY SNAPSHOT 657
16.3.2 REVENUE ANALYSIS 657
16.3.3 COMPANY SHARE ANALYSIS 658
16.3.4 BRAND PORTFOLIO 658
16.3.5 RECENT DEVELOPMENT 658
16.4 HIMALAYA WELLNESS COMPANY 661
16.4.1 COMPANY SNAPSHOT 661
16.4.2 COMPANY SHARE ANALYSIS 661
16.4.3 PRODUCT PORTFOLIO 662
16.4.4 RECENT DEVELOPMENT 662
16.5 SWANSON 663
16.5.1 COMPANY SNAPSHOT 663
16.5.2 COMPANY SHARE ANALYSIS 663
16.5.3 PRODUCT PORTFOLIO 664
16.5.4 RECENT DEVELOPMENT 664
16.6 APEX INTERNATIONAL 665
16.6.1 COMPANY SNAPSHOT 665
16.6.2 PRODUCT PORTFOLIO 665
16.6.3 RECENT DEVELOPMENT 666
16.7 AUNUTRA INDUSTRIES INC. 667
16.7.1 COMPANY SANPSHOT 667
16.7.2 PRODUCT PORTFOLIO 667
16.7.3 RECENT DEVELOPMENTS 668
16.8 BIOPREX LABS 669
16.8.1 COMPANY SNAPSHOT 669
16.8.2 PRODUCT PORTFOLIO 669
16.8.3 RECENT DEVELOPMENTS 670
16.9 CARRUBBA INC 671
16.9.1 COMPANY SNAPSHOT 671
16.9.2 PRODUCT PORTFOLIO 671
16.9.3 RECENT DEVELOPMENT 671
16.10 CREATIVE ENZYMES 672
16.10.1 COMPANY SNAPSHOT 672
16.10.2 PRODUCT PORTFOLIO 672
16.10.3 RECENT DEVELOPMENTS 673
16.11 HERBOCHEM 674
16.11.1 COMPANY SNAPSHOT 674
16.11.2 PRODUCT PORTFOLIO 674
16.11.3 RECENT DEVELOPMENT 674
16.12 KAIRALI AYURVEDIC PRODUCTS PRIVATE LIMITED 675
16.12.1 COMPANY SNAPSHOT 675
16.12.2 PRODUCT PORTFOLIO 675
16.12.3 RECENT DEVELOPMENT 675
16.13 KERRY GROUP PLC 676
16.13.1 COMPANY SNAPSHOT 676
16.13.2 REVENUE ANALYSIS 676
16.13.3 PRODUCT PORTFOLIO 677
16.13.4 RECENT DEVELOPMENT 677
16.14 MEDIKONDA NUTRIENTS 678
16.14.1 COMPANY SNAPSHOT 678
16.14.2 PRODUCT PORTFOLIO 678
16.14.3 RECENT DEVELOPMENT 678
16.15 NATREON INC. 679
16.15.1 COMPANY SNAPSHOT 679
16.15.2 PRODUCT PORTFOLIO 679
16.15.3 RECENT DEVELOPMENT 679
16.16 ORGANIC INDIA PVT. LTD. 680
16.16.1 COMPANY SNAPSHOT 680
16.16.2 PRODUCT PORTFOLIO 680
16.16.3 RECENT DEVELOPMENT 680
16.17 PATANJALI AYURVED 681
16.17.1 COMPANY SNAPSHOT 681
16.17.2 PRODUCT PORTFOLIO 681
16.17.3 RECENT DEVELOPMENT 682
16.18 ZANDUCARE (A SUBSIDIARY OF EMAMI LTD.) 683
16.18.1 COMPANY SNAPSHOT 683
16.18.2 REVENUE ANALYSIS 683
16.18.3 PRODUCT PORTFOLIO 684
16.18.4 RECENT DEVELOPMENT 684
16.19 ZOIC PHARMACEUTICALS 685
16.19.1 COMPANY SNAPSHOT 685
16.19.2 PRODUCT PORTFOLIO 685
16.19.3 RECENT DEVELOPMENT 686
17 QUESTIONNAIRE 687
18 RELATED REPORTS 691
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