Ayurvedic Herbal Extract Market Report 2024

The ayurvedic herbal extract market size has grown strongly in recent years. It will grow from $45.14 billion in 2023 to $48.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The increase during the previous period can be credited to cultural heritage and tradition, heightened consumer awareness, government backing and regulatory structures, a rise in chronic health conditions, globalization, and export opportunities.

The ayurvedic herbal extract market size is expected to see strong growth in the next few years. It will grow to $64.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Anticipated growth in the upcoming period is attributable to the expanding focus on wellness and preventive healthcare, advancements in extraction and formulation technologies, higher consumer expenditure on natural products, broadening of distribution networks, and increased investments in research and development. Key trends expected in this period include consumer preference for natural and organic products, technological progress in extraction and formulation, heightened research and development efforts, regulatory support and standardization, escalating healthcare expenditures, and a heightened emphasis on preventive health measures.

The increasing preference for natural and plant-based products is set to drive growth in the ayurvedic herbal extract market. Natural and plant-based products are derived from plants with minimal processing and are free from synthetic additives or chemicals. This trend is driven by rising health consciousness, environmental concerns, the clean label movement, and dietary shifts toward vegetarian and vegan lifestyles. Aligning with the principles of using pure, natural ingredients to promote health and wellness, ayurvedic herbal extracts are becoming more appealing to consumers seeking holistic and traditional medicinal solutions. For example, in 2022, plant-based food dollar sales in the US grew by 6.6% to $8 billion, illustrating the increasing consumer preference for natural products and plant-based alternatives, which is positively impacting the ayurvedic herbal extract market.

Leading companies in the ayurvedic herbal extract market are responding to growing consumer demand by developing ayurvedic wellness products. These products aim to enhance their portfolios and capitalize on rising interest in holistic and traditional medicine practices. Ayurvedic wellness products utilize natural ingredients and traditional medicinal knowledge to promote overall health, balance the body, and support healing. For instance, NatureCode, an India-based company, launched a range of Ayurvedic wellness products and dry herbs in September 2021. These vegetarian offerings are prepared at a dedicated facility using standardized herbal extracts to ensure consistent quality and effectiveness. The product line includes Immunology for boosting immunity, diabase for managing blood sugar levels, Live Soul for liver protection, Slim Soul for weight management, Joint Rep for joint pain relief, and Vital Soul for enhancing vitality. By harnessing the scientifically validated health benefits of herbs, these products aim to meet daily health needs and promote overall well-being.

In April 2022, Kerry, an Irish food and nutrition company, purchased Natreon for an undisclosed sum. This acquisition effectively broadens Kerry's ProActive Health portfolio, which features scientifically supported branded ingredients, advancing the company's technological presence in botanical extracts. Natreon, headquartered in the United States, specializes in creating novel compounds derived from traditional Ayurvedic medicinal botanicals.

Major companies operating in the ayurvedic herbal extract market are Dabur India Limited, Aimil Pharmaceuticals Ltd., Emami Group, Charak Pharma Pvt. Ltd., Swanson Health Products Inc., Vasu Healthcare Pvt. Ltd., Nature's Way Products Inc., Natural Remedies Pvt. Ltd., Gaia Herbs Inc., Maharishi AyurVeda Products International Inc., Organic India Private Limited, Sriveda Sattva Private Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Kairali Ayurvedic Group, Patanjali Ayurved Limited, Sandu Pharmaceuticals Ltd., Botanic Healthcare Private Limited, Himalaya Global Holdings Ltd., Ayush Herbs Inc., Zandu Pharmaceuticals Works Ltd., Ancient Greenfiels Private Limited, Vicco Laboratories, Natreon Inc., Kerala Ayurveda Limited, Herbal Hills Wellness.

Asia-Pacific was the largest region in the ayurvedic herbal extract market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the ayurvedic herbal extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the ayurvedic herbal extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Ayurvedic herbal extracts represent concentrated forms of medicinal plants utilized in ayurvedic practices to foster health and address various health issues. These extracts are obtained through specialized extraction methods, valued for their high concentration of bioactive compounds that deliver therapeutic benefits aligned with ayurvedic principles.

In the ayurvedic herbal extract market, prominent types include ashwagandha, ajwain, brahmi, ginseng, cardamom, cumin, basil, neem, licorice root, and others. Ashwagandha, scientifically known as Withania somnifera, is an adaptogenic herb widely used in Ayurveda to alleviate stress, boost energy levels, and enhance overall well-being. These extracts are available in forms such as liquids, tinctures, powders, essential oils, and are applied across sectors including food and beverages, personal care, cosmetics, pharmaceuticals, nutraceuticals, and animal feed.

The ayurvedic herbal extract market research report is one of a series of new reports that provides ayurvedic herbal extract market statistics, including the ayurvedic herbal extract industry global market size, regional shares, competitors with ayurvedic herbal extract market share, detailed ayurvedic herbal extract market segments, market trends, and opportunities, and any further data you may need to thrive in the ayurvedic herbal extract industry. These ayurvedic herbal extract market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ayurvedic herbal extract market consists of sales of single herbal extracts, echinacea extract, ginseng extract, aloe vera extract and double herbal extracts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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