Global Ashwagandha Market Forecast, Trend Analysis And Competition Tracking - Global Market Insights 2015 to 2031

Demand for ashwagandha from 2015 to 2020 Vs. Future Market Projections for 2021-2031

Introduction: Discover The Proven Health Benefits Of Ashwagandha

Request Covid - 19 Impact

Ayurvedic supplements have for years provided a balance between mind, body and spirit and has long been recognized as a path towards healthy living. Ashwagandha, also known as Indian Ginseng is an herb that has been used by people in India for centuries. The plant has many benefits, like improving immune system function, increasing energy levels, and helping in reduce anxiety. It also appears to have anti-inflammatory effects. The herb can also be used to treat anxiety, insomnia, menopause symptoms, urinary problems, and thyroid problems. This herb has no known side effects and should usually not interact with any other medications. The plant can be consumed in many ways including infusion (tea), capsules, powder or fresh leaves, however it is recommended that it should not be taken for more than six months.

Ashwagandha is a herb that grows in India, Nepal, Sri Lanka, China, and Yemen. It has been used for centuries in Ayurveda for maintaining mental sharpness, physical strength, and healthy aging. Recent studies have shown that it has potential to be an effective treatment for depression, anxiety, insomnia, diabetes mellitus type 2, inflammation-related diseases like arthritis or colon cancer. Modern science has helped to validate the ancient ways and ashwagandha herb is one such example. The use of ashwagandha is not limited to spiritual and religious rituals; it also holds benefits for those seeking holistic solutions.

Market Dynamics: Ashwagandha Shows Promising Results In Mental Health

The global ashwagandha market was valued at US$ 38.5 Mn in 2020 and is projected to register а САGR of 6.1% by 2031.

In the past several decades, there has been a surge in popularity for holistic and herbal healthcare due to its continued persistence in the use of natural products. One herb that has seen a drastic increase in popularity is Ashwagandha, which is a plant with a long history in many cultures. Ashwagandha's medicinal properties have been used for centuries, from the ancient Ayurveda culture to modern day medicine. In recent years, an increasing number of people have been diagnosed with diseases such as diabetes, heart disease and cancer. These chronic ailments are a result of a sedentary lifestyle that neglects the body's need for movement and healthy nutrients. As a result, there has been a significant increase in demand for nutrients that promote fitness and vitality.

Insufficient sleep is a prevalent problem across the globe for various age groups, due to the many factors that can intervene. Sleep-related problems are not just about feeling tired due to lack of rest, but it has been shown that lack of quality sleep has serious physical and mental health implications. There are many causes for reduced sleep quality, but there are also ways to combat the problem. Many research studies have shown that Ashwagandha was found to be beneficial for improving sleep and reducing symptoms of stress. The symptoms of stress that were reduced with the use of Ashwagandha include mental fatigue, anxiety, and depression symptoms.

These factors are expected to bolster the projected profit margins for this market during the forecast period.

Market Trends: Indian Government Is Heavily Investing In Ayurveda

Ayurveda is a form of alternative medicine that is widely used in India, and has become increasingly popular in the United States as well. The Government of India is extensively promoting the usage of ayurvedic products through awareness programs. India’s Ministry of Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy (AYUSH) set up in 2021, has actively invested in developing education, research and propagation of indigenous alternative medicine systems in India.

Moreover, consumers are more inclined to pay for certain products that provide health and wellness benefits, and that will additionally serve as a driving factor for the market for Ayurvedic herbs. Despite their infancy, Ayurvedic herbs and their products are in the early stages in many areas, such as Argentina, Canada, and Peru. Ayurvedic herbs companies that have not entered this area yet are in prime position to increase their market share by offering Ayurvedic herbs products, while promoting their relevant health benefits.

COVID-19 Impact Analysis: Folks Turn To Traditional Cures For Coronavirus

Coronavirus disease (COVID-19) caused by the virus SARS-CoV-2 continues to swiftly spread as a global pandemic. Organic-labeled items have endured a gigantic demand from retailers selling these items. Although this trend is more widespread than just boosting immunity, multiple stores and groceries reporting on this trend have cited the consumer interest in these products. Herbal products like Ashwagandha, Dabur Giloy Ghanvati, and Dabur Health Juices like Amla juice, Giloy-Neem-Tulsi Juice etc., have seen growth in sales, as reported by Ayurvedic companies like Dabur. Businesses marketing these products sighted an association between the outbreak of the coronavirus and immunity and the government’s encouragement of Ayurveda and yoga for mild and moderate infections, as well for aiding recovery after COVID-19.

Which Are The Key Players In The Ashwagandha Market?

The ashwagandha market landscape appears highly fragmented, with a significant chunk being dominated by Chinese and Indian domestic players.

• Xi'an Lyphar Biotech
• NutriBoost B.V.
• Xian Sost Biotech
• AuNutra Industries Inc.
• Himalaya Global Holdings Ltd.
• Amax NutraSource, Inc.
• Sabinsa Company
• Carrubba Inc.
• Herbs Village
• Banyan Botanicals
• Other Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Segments Covered

Ashwagandha Market, By Product Type

• Powder
• Capsules
• Others

Ashwagandha Market, By Distribution Channel

• Hypermarkets / Supermarkets
• Retail Pharmacies
• Online Markets
• Other Distribution Channels

Ashwagandha Market, By Application

• Food & Beverages
• Pharmaceuticals
• Cosmetic & Personal Care Products
• Dietary Supplements