The Asia-Pacific ashwagandha market is expected to reach USD 36,617.60 thousand in 2030 from USD 15,927.03 thousand in 2022, growing at a CAGR of 11.1% in the forecast period of 2023 to 2030.
Market Segmentation:
Asia-Pacific 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), (India, China, Japan, Australia, South Korea, Singapore, Thailand, Indonesia, Taiwan, Hong Kong, Malaysia, New Zealand, Philippines, and Rest of Asia-Pacific) - Industry Trends and Forecast To 2030.
Overview of Asia-Pacific 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 Asia-Pacific 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 74
1.1 OBJECTIVES OF THE STUDY 74
1.2 MARKET DEFINITION 74
1.3 OVERVIEW OF THE ASIA-PACIFIC ASHWAGANDHA MARKET 74
1.4 LIMITATION 76
1.5 MARKETS COVERED 76
2 MARKET SEGMENTATION 82
2.1 MARKETS COVERED 82
2.2 GEOGRAPHICAL SCOPE 83
2.3 YEARS CONSIDERED FOR THE STUDY 84
2.4 CURRENCY AND PRICING 84
2.5 DBMR TRIPOD DATA VALIDATION MODEL 85
2.6 TYPE LIFE-LINE CURVE 88
2.7 MULTIVARIATE MODELING 89
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 90
2.9 DBMR MARKET POSITION GRID 91
2.10 MARKET APPLICATION COVERAGE GRID 92
2.11 DBMR MARKET CHALLENGE MATRIX 93
2.12 VENDOR SHARE ANALYSIS 94
2.13 SECONDARY SOURCES 95
2.14 ASSUMPTIONS 95
3 EXECUTIVE SUMMARY 96
4 PREMIUM INSIGHTS 99
4.1 IMPACT OF ECONOMIC SLOWDOWN 100
4.1.1 IMPACT ON PRICE 100
4.1.2 IMPACT ON SUPPLY CHAIN 100
4.1.3 IMPACT ON SHIPMENT 100
4.1.4 IMPACT ON COMPANY'S STRATEGIC DECISIONS 101
4.2 PRICING INDEX 102
4.3 NEW PRODUCT LAUNCHES 103
4.4 MARKETING STRATEGIES ADOPTED BY KEY MARKET PLAYERS 104
4.4.1 PROMOTING PRODUCTS BY EMPHASIZING DIFFERENT FUNCTIONS 104
4.4.2 PARTNERSHIPS WITH OTHER BRANDS 104
4.4.3 A VAST NETWORK OF DISTRIBUTION 105
4.5 PRODUCTION CAPACITY OF KEY MANUFACTURING COMPANIES 106
4.6 ASIA-PACIFIC ASHWAGANDHA MARKET- INDUSTRY TRENDS AND FUTURE PERSPECTIVE 107
4.6.1 RISING ADOPTION OF ASHWAGANDHA INGREDIENTS BY END USERS 107
4.6.2 GROWING COLLABORATIONS AND PARTNERSHIPS 107
4.7 ASIA-PACIFIC ASHWAGHANDHA MARKET: LABELLING CLAIMS 107
4.8 FACTORS INFLUENCING PURCHASING DECISION OF CUSTOMERS 111
4.9 SUPPLY CHAIN OF ASIA-PACIFIC ASHWAGANDHA MARKET 112
4.9.1 RAW MATERIAL PROCUREMENT 112
4.9.2 ASHWAGANDHA PRODUCTION/PROCESSING 112
4.9.3 MARKETING AND DISTRIBUTION 113
4.9.4 END USERS 113
4.10 ASIA-PACIFIC ASHWAGANDHA MARKET: REGULATORY FRAMEWORK 114
5 MARKET OVERVIEW 115
5.1 DRIVERS 117
5.1.1 RAPIDLY INCREASE IN DEMAND FOR ASHWAGANDHA SUPPLEMENTS 117
5.1.2 GROW IN POPULARITY OF ASHWAGANDHA OWING TO ITS NUTRITIONAL AND HEALTH BENEFITS 118
5.1.3 SURGE IN DEMAND FOR ASHWAGANDHA IN FUNCTIONAL FOOD AND BEVERAGES AND PHARMACEUTICAL INDUSTRY 118
5.2 RESTRAINTS 120
5.2.1 LESS AWARENESS REGARDING THE BENEFITS OF ASHWAGANDHA 120
5.2.2 SIDE EFFECTS OF ASHWAGANDHA 121
5.3 OPPORTUNITIES 122
5.3.1 RAPIDLY GROWING ADOPTION OF AYURVEDIC MEDICINES 122
5.3.2 SEDENTARY LIFESTYLE AMONG PEOPLE IS INCREASING DEMAND FOR ASHWAGANDHA TO PROMOTE HEALTH AND WELLNESS 124
5.3.3 RISE IN DEMAND FOR ASHWAGANDHA MEDICINES & SUPPLEMENTS DUE TO COVID-19 PANDEMIC 127
5.4 CHALLENGES 128
5.4.1 POOR QUALITY OF CLINICAL RESEARCH ON AYURVEDIC MEDICINES 128
5.4.2 SUPPLY CHAIN DISRUPTION DUE TO COVID-19 129
6 ASIA-PACIFIC ASHWAGANDHA MARKET, BY TYPE 132
6.1 OVERVIEW 133
6.2 KSM-66 134
6.3 SENSORIL 135
6.4 HYDRO-ALCOHOLIC ASHWAGANDHA 135
6.5 CRUDE ASHWAGANDHAA 136
7 ASIA-PACIFIC ASHWAGANDHA MARKET, BY PRODUCT TYPE 137
7.1 OVERVIEW 138
7.2 ASHWAGANDHA ROOT PRODUCT 139
7.3 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 139
7.4 ASHWAGANDHA LEAF PRODUCTS 139
8 ASIA-PACIFIC ASHWAGANDHA MARKET, BY WITHANOLIDES CONTENT 141
8.1 OVERVIEW 142
8.2 5% WITHANOLIDES 143
8.3 10% WITHANOLIDES 143
8.4 2.5% WITHANOLIDES 143
8.5 2% WITHANOLIDES 144
8.6 1% WITHANOLIDES 145
8.7 OTHERS 145
9 ASIA-PACIFIC ASHWAGANDHA MARKET, BY CATEGORY 146
9.1 OVERVIEW 147
9.2 FULL SPECTRUM 148
9.3 REGULAR 148
10 ASIA-PACIFIC ASHWAGANDHA MARKET, BY FORM 149
10.1 OVERVIEW 150
10.2 POWDER 151
10.3 CAPSULE AND PILLS 151
10.4 LIQUID 152
11 ASIA-PACIFIC ASHWAGANDHA MARKET, BY FUNCTION 153
11.1 OVERVIEW 154
11.2 REDUCED ANXIETY AND STRESS 155
11.3 BRAIN HEALTH 155
11.4 IMPROVED IMMUNITY 156
11.5 IMPROVED STAMINA 156
11.6 MUSCLE STRENGTH 156
11.6.1 MUSCLE SIZE & STRENGTH 157
11.6.2 MUSCLE RECOVERY 157
11.7 OVERALL WELLBEING 157
11.8 OTHERS 158
12 ASIA-PACIFIC ASHWAGANDHA MARKET, BY APPLICATION 159
12.1 OVERVIEW 160
12.2 DIETARY SUPPLEMENTS 161
12.2.1 DIETARY SUPPLEMENTS, BY TYPE 161
12.2.1.1 IMMUNITY SUPPLEMENTS 161
12.2.1.2 BONE AND JOINT HEALTH SUPPLEMENTS 161
12.2.1.3 BRAIN HEALTH SUPPLEMENTS 162
12.2.1.4 OVERALL WELLBEING SUPPLEMENTS 162
12.2.1.5 SKIN HEALTH SUPPLEMENTS 162
12.2.1.6 OTHERS 162
12.2.2 DIETARY SUPPLEMENTS, BY ASHWAGANDHA TYPE 162
12.2.2.1 KSM-66 162
12.2.2.2 SENSORIL 162
12.2.2.3 OTHERS 162
12.2.3 DIETARY SUPPLEMENTS, BY ASHWAGANDHA PRODUCT TYPE 163
12.2.3.1 ASHWAGANDHA ROOT PRODUCT 163
12.2.3.2 ASHWAGANDHA LEAF PRODUCTS 163
12.2.3.3 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 163
12.3 PHARMACEUTICAL 163
12.3.1 PHARMACEUTICAL, BY ASHWAGANDHA TYPE 164
12.3.1.1 KSM-66 164
12.3.1.2 SENSORIL 164
12.3.1.3 OTHERS 164
12.3.2 PHARMACEUTICAL, BY ASHWAGANDHA PRODUCT TYPE 164
12.3.2.1 ASHWAGANDHA ROOT PRODUCT 165
12.3.2.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 165
12.3.2.3 ASHWAGANDHA LEAF PRODUCTS 165
12.3.3 FOOD & BEVERAGES 165
12.3.3.1 BEVERAGES 166
12.3.3.1.1 JUICES 166
12.3.3.1.2 FORTIFIED BEVERAGES 166
12.3.3.1.3 FUNCTIONAL BEVERAGES 167
12.3.3.1.4 FLAVORED MILK 167
12.3.3.1.5 MILK SHAKES 167
12.3.3.1.6 SMOOTHIES 167
12.3.3.1.7 PROCESSED MILK 167
12.3.3.1.8 OTHERS 167
12.3.3.2 PROCESSED FOOD 167
12.3.3.2.1 SAUCES, DRESSINGS AND CONDIMENTS 168
12.3.3.2.2 CANNED FRUITS & VEGETABLES 168
12.3.3.2.3 SOUPS 168
12.3.3.2.4 JAMS, PRESERVES & MARMALADES 168
12.3.3.2.5 READY MEALS 168
12.3.3.2.6 FRUIT & VEGETABLE PUREE 168
12.3.3.2.7 PICKLES 169
12.3.3.2.8 OTHERS 169
12.3.3.3 BAKERY 169
12.3.3.3.1 BREAD & ROLLS 169
12.3.3.3.2 BISCUIT 169
12.3.3.3.3 COOKIES & CRACKERS 170
12.3.3.3.4 CAKES, PASTRIES & TRUFFLE 170
12.3.3.3.5 TART & PIES 170
12.3.3.3.6 BROWNIES 170
12.3.3.3.7 OTHERS 170
12.3.3.4 FUNCTIONAL FOOD 170
12.3.3.5 DAIRY PRODUCTS 170
12.3.3.5.1 ICE CREAM 171
12.3.3.5.2 YOGURT 171
12.3.3.5.2.1 FROZEN 171
12.3.3.5.2.2 FRESH 171
12.3.3.5.3 CHEESE 171
12.3.3.5.4 OTHERS 171
12.3.3.6 BREAKFAST CEREALS 171
12.3.3.7 OTHERS 171
12.3.4 FOOD & BEVERAGES, BY ASHWAGANDHA TYPE 171
12.3.4.1 KSM-66 172
12.3.4.2 SENSORIL 172
12.3.4.3 OTHERS 172
12.3.5 FOOD & BEVERAGES, BY ASHWAGANDHA PRODUCT TYPE 172
12.3.5.1 ASHWAGANDHA ROOT PRODUCT 172
12.3.5.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 173
12.3.5.3 ASHWAGANDHA LEAF PRODUCTS 173
12.4 SPORTS NUTRITION 173
12.4.1 SPORTS NUTRITION, BY TYPE 173
12.4.1.1 PROTEIN POWDERS 173
12.4.1.2 SPORT DRINKS 174
12.4.1.3 SPORTS DRINK MIXES 174
12.4.1.4 OTHERS 174
12.4.2 SPORTS NUTRITION, BY ASHWAGANDHA TYPE 174
12.4.2.1 KSM-66 174
12.4.2.2 SENSORIL 174
12.4.2.3 OTHERS 174
12.4.3 SPORTS NUTRITION, BY ASHWAGANDHA PRODUCT TYPE 174
12.4.3.1 ASHWAGANDHA ROOT PRODUCT 175
12.4.3.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 175
12.4.3.3 ASHWAGANDHA LEAF PRODUCTS 175
12.5 OTHERS 175
12.5.1 OTHERS, BY ASHWAGANDHA TYPE 176
12.5.1.1 KSM-66 176
12.5.1.2 SENSORIL 176
12.5.1.3 OTHERS 176
12.5.2 OTHERS, BY ASHWAGANDHA PRODUCT TYPE 176
12.5.2.1 ASHWAGANDHA ROOT PRODUCT 176
12.5.2.2 ASHWAGANDHA LEAF AND ROOT MIX PRODUCT 177
12.5.2.3 ASHWAGANDHA LEAF PRODUCTS 177
13 ASIA-PACIFIC ASHWAGANDHA MARKET, BY REGION 178
13.1 ASIA-PACIFIC 179
13.1.1 INDIA 194
13.1.2 CHINA 204
13.1.3 JAPAN 214
13.1.4 AUSTRALIA 224
13.1.5 SOUTH KOREA 234
13.1.6 SINGAPORE 244
13.1.7 THAILAND 254
13.1.8 INDONESIA 264
13.1.9 TAIWAN 274
13.1.10 HONG KONG 284
13.1.11 MALAYSIA 294
13.1.12 NEW ZEALAND 304
13.1.13 PHILIPPINES 314
13.1.14 REST OF ASIA-PACIFIC 324
14 ASIA-PACIFIC ASHWAGANDHA MARKET: COMPANY LANDSCAPE 325
14.1 COMPANY SHARE ANALYSIS: ASIA PACIFIC 325
15 SWOT ANALYSIS 326
16 COMPANY PROFILINGS 327
16.1 KSM66 ASHWAGANDHA (IXOREAL BIOMED) 327
16.1.1 COMPANY SNAPSHOT 327
16.1.2 COMPANY SHARE ANALYSIS 327
16.1.3 PRODUCT PORTFOLIO 328
16.1.4 RECENT DEVELOPMENT 328
16.2 SAMI-SABINSA GROUP 329
16.2.1 COMPANY SANPSHOT 329
16.2.2 COMPANY SHARE ANALYSIS 329
16.2.3 PRODUCT PORTFOLIO 330
16.2.4 RECENT DEVELOPMENTS 330
16.3 DABUR INDIA LIMITED 332
16.3.1 COMPANY SNAPSHOT 332
16.3.2 REVENUE ANALYSIS 332
16.3.3 COMPANY SHARE ANALYSIS 333
16.3.4 BRAND PORTFOLIO 333
16.3.5 RECENT DEVELOPMENT 333
16.4 HIMALAYA WELLNESS COMPANY 336
16.4.1 COMPANY SNAPSHOT 336
16.4.2 COMPANY SHARE ANALYSIS 336
16.4.3 PRODUCT PORTFOLIO 337
16.4.4 RECENT DEVELOPMENT 337
16.5 SWANSON 338
16.5.1 COMPANY SNAPSHOT 338
16.5.2 COMPANY SHARE ANALYSIS 338
16.5.3 PRODUCT PORTFOLIO 339
16.5.4 RECENT DEVELOPMENT 339
16.6 APEX INTERNATIONAL 340
16.6.1 COMPANY SNAPSHOT 340
16.6.2 PRODUCT PORTFOLIO 340
16.6.3 RECENT DEVELOPMENT 341
16.7 AUNUTRA INDUSTRIES INC. 342
16.7.1 COMPANY SANPSHOT 342
16.7.2 PRODUCT PORTFOLIO 342
16.7.3 RECENT DEVELOPMENTS 343
16.8 BIOPREX LABS 344
16.8.1 COMPANY SNAPSHOT 344
16.8.2 PRODUCT PORTFOLIO 344
16.8.3 RECENT DEVELOPMENTS 345