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Ashwagandha Extract Market Size, Share & Trends Analysis Report By Distribution Channel (Business to Consumer, and Business to Business), By Form (Capsules/Tablets, Powder, and Others), By Application, By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 340 Pages
  • March 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953661
The Global Ashwagandha Extract Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 10.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 61,767.85 thousand units, experiencing a growth of 11.1% (2019-2022).

In the Asia Pacific region, where Ayurveda is deeply rooted, ashwagandha extract is valued for its therapeutic properties and is incorporated into various traditional remedies and formulations. Consequently, the Asia Pacific region captured $456.15 million in the market in 2022. Also, the India market consumed 4,740.96 thousand units in 2022. Ashwagandha is culturally familiar to many people in the Asia Pacific region, where traditional herbal remedies are often preferred over pharmaceutical interventions.



Many consumers are adopting plant-based diets for health, environmental, and ethical reasons. Ashwagandha extract, derived from the roots of the Withania somnifera plant, fits well within plant-based dietary patterns, making it an attractive choice for individuals following vegan or vegetarian lifestyles. It is rich in bioactive compounds, including alkaloids, steroidal lactones (withanolides), and flavonoids, which are believed to offer various health benefits. Thus, because of the increasing popularity of plant-based diets, the market is anticipated to increase significantly.

Additionally, E-commerce platforms make its products accessible to consumers, regardless of location. As per the International Trade Administration, global e-commerce sales for B2B businesses have gradually increased over the last decade, with the global B2B e-commerce industry expected to be worth USD$36 trillion by 2026. Hence, rapid shift toward e-commerce platforms has been a pivotal factor in driving the growth of the market.

However, Regulatory frameworks governing dietary supplements, including ashwagandha extract, often involve complex compliance requirements related to product formulation, labeling, advertising, and safety standards. Navigating these rules may be time-consuming and costly for manufacturers, mainly small and medium-sized enterprises, resulting in delayed product launches and increased operational costs. Thus, regulatory challenges can slow down the growth of the market.

By Application Analysis

By application, the market is categorized into sports nutrition, food & beverages, dietary supplements, and others. The dietary supplements segment covered the 40.58% revenue share in the market in 2022. In terms of volume, dietary supplements segment utilized 25,576.71 thousand units in 2022. Food Processing Industries estimates that the Indian dietary supplement industry will be worth USD 3924.44 million in 2020 and USD 10,198.57 million by 2026, representing a 22% annual growth rate.



By Distribution Channel Analysis

Based on distribution channel, the market is classified into business to business and business to consumer. The business to consumer segment acquired the 67.45% revenue share in the market in 2022. In terms of volume, business to consumer segment registered 1,01,064.55 thousand units in 2022. Business to consumer (B2C) marketing efforts, including advertising, social media campaigns, and educational content, are crucial in growing awareness about the health benefits of ashwagandha extract.

By Form Analysis

On the basis of form, the market is divided into powder, capsules/tablets, and others. The powder segment garnered a 31.28% revenue share in the market in 2022. In terms of volume, powder segment consumed 11,567.41 thousand units of Powder (Pack of 1 KG) in 2022. Its powder offers versatility in consumption. It can be easily incorporated into numerous formulations, such as smoothies, beverages, protein shakes, and recipes. This versatility appeals to consumers seeking convenient ways to incorporate ashwagandha into their daily routines.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 25.20% revenue share in the market. In terms of volume, North America region would consume 37,780.91 thousand units in 2022. The availability of the products has increased in North America, with a wide range of supplements, beverages, and functional foods incorporating ashwagandha extract hitting the market.

List of Key Companies Profiled

  • Kerry Group PLC
  • Dabur India Ltd.
  • Emami Limited
  • The Procter and Gamble Company
  • Patanjali Ayurved Limited
  • Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
  • Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
  • Unilever PLC
  • Taos Herb Company
  • Kairali Ayurvedic Group

Market Report Segmentation

By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
  • Business to Consumer
  • Business to Business
By Form (Volume, Thousand Units, USD Billion, 2019-2030)
  • Capsules/Tablets
  • Powder
  • Others
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
  • Dietary Supplements
  • Sports Nutrition
  • Food & Beverages
  • Others
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Ashwagandha Extract Market, by Distribution Channel
1.4.2 Global Ashwagandha Extract Market, by Form
1.4.3 Global Ashwagandha Extract Market, by Application
1.4.4 Global Ashwagandha Extract Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Ashwagandha Extract Market by Distribution Channel
4.1 Global Business to Consumer Market by Region
4.2 Global Business to Business Market by Region
Chapter 5. Global Ashwagandha Extract Market by Form
5.1 Global Capsules/Tablets Market by Region
5.2 Global Powder Market by Region
5.3 Global Others Market by Region
Chapter 6. Global Ashwagandha Extract Market by Application
6.1 Global Dietary Supplements Market by Region
6.2 Global Sports Nutrition Market by Region
6.3 Global Food & Beverages Market by Region
6.4 Global Others Market by Region
Chapter 7. Global Ashwagandha Extract Market by Region
7.1 North America Ashwagandha Extract Market
7.1.1 North America Ashwagandha Extract Market by Distribution Channel
7.1.1.1 North America Business to Consumer Market by Country
7.1.1.2 North America Business to Business Market by Country
7.1.2 North America Ashwagandha Extract Market by Form
7.1.2.1 North America Capsules/Tablets Market by Country
7.1.2.2 North America Powder Market by Country
7.1.2.3 North America Others Market by Country
7.1.3 North America Ashwagandha Extract Market by Application
7.1.3.1 North America Dietary Supplements Market by Country
7.1.3.2 North America Sports Nutrition Market by Country
7.1.3.3 North America Food & Beverages Market by Country
7.1.3.4 North America Others Market by Country
7.1.4 North America Ashwagandha Extract Market by Country
7.1.4.1 US Ashwagandha Extract Market
7.1.4.1.1 US Ashwagandha Extract Market by Distribution Channel
7.1.4.1.2 US Ashwagandha Extract Market by Form
7.1.4.1.3 US Ashwagandha Extract Market by Application
7.1.4.2 Canada Ashwagandha Extract Market
7.1.4.2.1 Canada Ashwagandha Extract Market by Distribution Channel
7.1.4.2.2 Canada Ashwagandha Extract Market by Form
7.1.4.2.3 Canada Ashwagandha Extract Market by Application
7.1.4.3 Mexico Ashwagandha Extract Market
7.1.4.3.1 Mexico Ashwagandha Extract Market by Distribution Channel
7.1.4.3.2 Mexico Ashwagandha Extract Market by Form
7.1.4.3.3 Mexico Ashwagandha Extract Market by Application
7.1.4.4 Rest of North America Ashwagandha Extract Market
7.1.4.4.1 Rest of North America Ashwagandha Extract Market by Distribution Channel
7.1.4.4.2 Rest of North America Ashwagandha Extract Market by Form
7.1.4.4.3 Rest of North America Ashwagandha Extract Market by Application
7.2 Europe Ashwagandha Extract Market
7.2.1 Europe Ashwagandha Extract Market by Distribution Channel
7.2.1.1 Europe Business to Consumer Market by Country
7.2.1.2 Europe Business to Business Market by Country
7.2.2 Europe Ashwagandha Extract Market by Form
7.2.2.1 Europe Capsules/Tablets Market by Country
7.2.2.2 Europe Powder Market by Country
7.2.2.3 Europe Others Market by Country
7.2.3 Europe Ashwagandha Extract Market by Application
7.2.3.1 Europe Dietary Supplements Market by Country
7.2.3.2 Europe Sports Nutrition Market by Country
7.2.3.3 Europe Food & Beverages Market by Country
7.2.3.4 Europe Others Market by Country
7.2.4 Europe Ashwagandha Extract Market by Country
7.2.4.1 Germany Ashwagandha Extract Market
7.2.4.1.1 Germany Ashwagandha Extract Market by Distribution Channel
7.2.4.1.2 Germany Ashwagandha Extract Market by Form
7.2.4.1.3 Germany Ashwagandha Extract Market by Application
7.2.4.2 UK Ashwagandha Extract Market
7.2.4.2.1 UK Ashwagandha Extract Market by Distribution Channel
7.2.4.2.2 UK Ashwagandha Extract Market by Form
7.2.4.2.3 UK Ashwagandha Extract Market by Application
7.2.4.3 France Ashwagandha Extract Market
7.2.4.3.1 France Ashwagandha Extract Market by Distribution Channel
7.2.4.3.2 France Ashwagandha Extract Market by Form
7.2.4.3.3 France Ashwagandha Extract Market by Application
7.2.4.4 Russia Ashwagandha Extract Market
7.2.4.4.1 Russia Ashwagandha Extract Market by Distribution Channel
7.2.4.4.2 Russia Ashwagandha Extract Market by Form
7.2.4.4.3 Russia Ashwagandha Extract Market by Application
7.2.4.5 Spain Ashwagandha Extract Market
7.2.4.5.1 Spain Ashwagandha Extract Market by Distribution Channel
7.2.4.5.2 Spain Ashwagandha Extract Market by Form
7.2.4.5.3 Spain Ashwagandha Extract Market by Application
7.2.4.6 Italy Ashwagandha Extract Market
7.2.4.6.1 Italy Ashwagandha Extract Market by Distribution Channel
7.2.4.6.2 Italy Ashwagandha Extract Market by Form
7.2.4.6.3 Italy Ashwagandha Extract Market by Application
7.2.4.7 Rest of Europe Ashwagandha Extract Market
7.2.4.7.1 Rest of Europe Ashwagandha Extract Market by Distribution Channel
7.2.4.7.2 Rest of Europe Ashwagandha Extract Market by Form
7.2.4.7.3 Rest of Europe Ashwagandha Extract Market by Application
7.3 Asia Pacific Ashwagandha Extract Market
7.3.1 Asia Pacific Ashwagandha Extract Market by Distribution Channel
7.3.1.1 Asia Pacific Business to Consumer Market by Country
7.3.1.2 Asia Pacific Business to Business Market by Country
7.3.2 Asia Pacific Ashwagandha Extract Market by Form
7.3.2.1 Asia Pacific Capsules/Tablets Market by Country
7.3.2.2 Asia Pacific Powder Market by Country
7.3.2.3 Asia Pacific Others Market by Country
7.3.3 Asia Pacific Ashwagandha Extract Market by Application
7.3.3.1 Asia Pacific Dietary Supplements Market by Country
7.3.3.2 Asia Pacific Sports Nutrition Market by Country
7.3.3.3 Asia Pacific Food & Beverages Market by Country
7.3.3.4 Asia Pacific Others Market by Country
7.3.4 Asia Pacific Ashwagandha Extract Market by Country
7.3.4.1 China Ashwagandha Extract Market
7.3.4.1.1 China Ashwagandha Extract Market by Distribution Channel
7.3.4.1.2 China Ashwagandha Extract Market by Form
7.3.4.1.3 China Ashwagandha Extract Market by Application
7.3.4.2 Japan Ashwagandha Extract Market
7.3.4.2.1 Japan Ashwagandha Extract Market by Distribution Channel
7.3.4.2.2 Japan Ashwagandha Extract Market by Form
7.3.4.2.3 Japan Ashwagandha Extract Market by Application
7.3.4.3 India Ashwagandha Extract Market
7.3.4.3.1 India Ashwagandha Extract Market by Distribution Channel
7.3.4.3.2 India Ashwagandha Extract Market by Form
7.3.4.3.3 India Ashwagandha Extract Market by Application
7.3.4.4 South Korea Ashwagandha Extract Market
7.3.4.4.1 South Korea Ashwagandha Extract Market by Distribution Channel
7.3.4.4.2 South Korea Ashwagandha Extract Market by Form
7.3.4.4.3 South Korea Ashwagandha Extract Market by Application
7.3.4.5 Singapore Ashwagandha Extract Market
7.3.4.5.1 Singapore Ashwagandha Extract Market by Distribution Channel
7.3.4.5.2 Singapore Ashwagandha Extract Market by Form
7.3.4.5.3 Singapore Ashwagandha Extract Market by Application
7.3.4.6 Malaysia Ashwagandha Extract Market
7.3.4.6.1 Malaysia Ashwagandha Extract Market by Distribution Channel
7.3.4.6.2 Malaysia Ashwagandha Extract Market by Form
7.3.4.6.3 Malaysia Ashwagandha Extract Market by Application
7.3.4.7 Rest of Asia Pacific Ashwagandha Extract Market
7.3.4.7.1 Rest of Asia Pacific Ashwagandha Extract Market by Distribution Channel
7.3.4.7.2 Rest of Asia Pacific Ashwagandha Extract Market by Form
7.3.4.7.3 Rest of Asia Pacific Ashwagandha Extract Market by Application
7.4 LAMEA Ashwagandha Extract Market
7.4.1 LAMEA Ashwagandha Extract Market by Distribution Channel
7.4.1.1 LAMEA Business to Consumer Market by Country
7.4.1.2 LAMEA Business to Business Market by Country
7.4.2 LAMEA Ashwagandha Extract Market by Form
7.4.2.1 LAMEA Capsules/Tablets Market by Country
7.4.2.2 LAMEA Powder Market by Country
7.4.2.3 LAMEA Others Market by Country
7.4.3 LAMEA Ashwagandha Extract Market by Application
7.4.3.1 LAMEA Dietary Supplements Market by Country
7.4.3.2 LAMEA Sports Nutrition Market by Country
7.4.3.3 LAMEA Food & Beverages Market by Country
7.4.3.4 LAMEA Others Market by Country
7.4.4 LAMEA Ashwagandha Extract Market by Country
7.4.4.1 Brazil Ashwagandha Extract Market
7.4.4.1.1 Brazil Ashwagandha Extract Market by Distribution Channel
7.4.4.1.2 Brazil Ashwagandha Extract Market by Form
7.4.4.1.3 Brazil Ashwagandha Extract Market by Application
7.4.4.2 Argentina Ashwagandha Extract Market
7.4.4.2.1 Argentina Ashwagandha Extract Market by Distribution Channel
7.4.4.2.2 Argentina Ashwagandha Extract Market by Form
7.4.4.2.3 Argentina Ashwagandha Extract Market by Application
7.4.4.3 UAE Ashwagandha Extract Market
7.4.4.3.1 UAE Ashwagandha Extract Market by Distribution Channel
7.4.4.3.2 UAE Ashwagandha Extract Market by Form
7.4.4.3.3 UAE Ashwagandha Extract Market by Application
7.4.4.4 Saudi Arabia Ashwagandha Extract Market
7.4.4.4.1 Saudi Arabia Ashwagandha Extract Market by Distribution Channel
7.4.4.4.2 Saudi Arabia Ashwagandha Extract Market by Form
7.4.4.4.3 Saudi Arabia Ashwagandha Extract Market by Application
7.4.4.5 South Africa Ashwagandha Extract Market
7.4.4.5.1 South Africa Ashwagandha Extract Market by Distribution Channel
7.4.4.5.2 South Africa Ashwagandha Extract Market by Form
7.4.4.5.3 South Africa Ashwagandha Extract Market by Application
7.4.4.6 Nigeria Ashwagandha Extract Market
7.4.4.6.1 Nigeria Ashwagandha Extract Market by Distribution Channel
7.4.4.6.2 Nigeria Ashwagandha Extract Market by Form
7.4.4.6.3 Nigeria Ashwagandha Extract Market by Application
7.4.4.7 Rest of LAMEA Ashwagandha Extract Market
7.4.4.7.1 Rest of LAMEA Ashwagandha Extract Market by Distribution Channel
7.4.4.7.2 Rest of LAMEA Ashwagandha Extract Market by Form
7.4.4.7.3 Rest of LAMEA Ashwagandha Extract Market by Application
Chapter 8. Company Profiles
8.1 Kerry Group PLC
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Dabur India Ltd.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis
8.3 Emami Limited
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental Analysis
8.3.4 SWOT Analysis
8.4 The Procter and Gamble Company
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Geographical Expansions:
8.4.6 SWOT Analysis
8.5 Patanjali Ayurved Limited
8.5.1 Company Overview
8.5.2 SWOT Analysis
8.6 Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Product Launches and Product Expansions:
8.6.3 SWOT Analysis
8.7 Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
8.7.1 Company Overview
8.7.2 SWOT Analysis
8.8 Unilever PLC
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Acquisition and Mergers:
8.8.6 SWOT Analysis
8.9 Taos Herb Company
8.9.1 Company Overview
8.9.2 SWOT Analysis
8.10. Kairali Ayurvedic Group
8.10.1 Company Overview
8.10.2 SWOT Analysis
Chapter 9. Winning Imperatives of Ashwagandha Extract Market

Companies Mentioned

  • Kerry Group PLC
  • Dabur India Ltd.
  • Emami Limited
  • The Procter and Gamble Company
  • Patanjali Ayurved Limited
  • Himalaya Wellness Company (Himalaya Global Holdings Ltd.)
  • Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
  • Unilever PLC
  • Taos Herb Company
  • Kairali Ayurvedic Group

Methodology

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