Global Ashwagandha Market - Industry Trends and Forecast to 2028
- Published Date: 2022-11-22
- Report ID: 144288
- Pages: 200
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Format:
Short Description
Global Ashwagandha Market, By Type (KSM-66, Sensoril, Hydro-alcoholic Ashwagandha, Crude Ashwagandha, Others), Product Type (Ashwagandha Root Product, Ashwagandha Leaf Products, Ashwagandha Leaf and Root Mix Product), Withanolides Content (1% Withanolides, 2% Withanolides, 2.5% Withanolides, 5% Withanolides, 10% Withanolides), Category (Regular, Full Spectrum), Form (Powder, Capsule, Liquid), Function (Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety and Stress, Brain Health, Muscle Strength), Application (Food & Beverages, Pharmaceutical, Dietary Supplements, Sports Nutrition, Others), Country (U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Norway, Switzerland, Netherlands, Belgium, Russia, Turkey, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, UAE, Saudi Arabia, Kuwait, and Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Definition
Ashwagandha is a natural herb, which is used for treating variety of health conditions. It is commonly known as Withania Somnifera, also recognized as Indian ginseng, poison gooseberry, and winter cherry has been used from ancient times in many cultures for its health benefits such as Indian ayurvedic system uses withania somnifera as medicine Rasayana (tonic), particularly since a nerve tonic. Ashwagandha is considered an effective ingredient for maintaining the vitality and rejuvenation and boosting general health.
The leaves and root of this short herb have versatile medicinal values. It is used for various kinds of disease processes and especially as a nervine tonic of herbal extracts or herbal powders. Ashwagandha is a medicinal herb that helps to cure various diseases such as cancer, diabetes, and others. The ashwagandha extract proves beneficial for reducing the blood sugar levels, improves concentration, enhances brain functioning, and helps to relieve stress. Thus, there is a high demand for ashwagandha extract from the pharmaceutical industry.
Market Segmentation
Global ashwagandha market is segmented into seven notable segments, based on type, product type, withanolides content, category, form, function, and application
On the basis of type, the global ashwagandha market is segmented into KSM-66, sensoril, hydro-alcoholic ashwagandha, crude ashwagandha, and others
On the basis of product, the global ashwagandha market is segmented into ashwagandha root product, ashwagandha leaf products and ashwagandha leaf and root mix product
On the basis of withanolides content, the global ashwagandha market is segmented into 1% withanolides, 2% withanolides, 2.5% withanolides, 5% withanolides, 10% withanolides and others
On the basis of category, the global ashwagandha market is segmented regular and full spectrum
On the basis of form, the global ashwagandha market is segmented into powder, capsule and liquid
On the basis of function, the global ashwagandha market is segmented improved stamina, improved immunity, overall wellbeing, reduced anxiety and stress, brain health and muscle strength
On the basis of application, the global ashwagandha market is segmented into food & beverages, pharmaceutical, dietery supplements, sports nutrition and others
Market Players
The key market players for global ashwagandha market are listed below:
Ixoreal Biomed (KSM66 Ashwagandha)
Bioprex Labs
Medikonda Nutrients
Greenjeeva
Aunutra Industries Inc.
Sabinsa
Carrubba INC
Creative Enzymes
Simply By Nature Ltd.
Natreon Inc
Herbochem
HERBAL CREATIONS
TABLE OF CONTENTS
1 INTRODUCTION 9
1.1 OBJECTIVES OF THE STUDY 9
1.2 MARKET DEFINITION 9
1.3 OVERVIEW OF GLOBAL ASHWAGANDHA MARKET 9
1.4 LIMITATION 10
1.5 MARKETS COVERED 11
2 MARKET SEGMENTATION 16
2.1 MARKETS COVERED 16
2.2 GEOGRAPHICAL SCOPE 17
2.3 YEARS CONSIDERED FOR THE STUDY 18
2.4 CURRENCY AND PRICING 18
2.5 DBMR TRIPOD DATA VALIDATION MODEL 19
2.6 TYPE LIFE LINE CURVE 22
2.7 MULTIVARIATE MODELING 23
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 24
2.9 DBMR MARKET POSITION GRID 25
2.10 MARKET APPLICATION COVERAGE GRID 26
2.11 DBMR MARKET CHALLENGE MATRIX 27
2.12 VENDOR SHARE ANALYSIS 28
2.13 IMPORT-EXPORT DATA 29
2.14 SECONDARY SOURCES 30
2.15 ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 35
4.1 FACTORS INFLUENCING PURCHASING DECISION OF CUSTOMERS 36
4.1.1 QUALITY OF THE PRODUCTS: 36
4.2 GLOBAL ASHWAGANDHA MARKET: MARKETING STRATEGY 37
4.2.1 PROMOTING PRODUCTS BY EMPHASIZING DIFFERENT FUNCTIONS 37
4.2.2 PARTNERSHIP WITH OTHER BRANDS 37
4.3 A VAST NETWORK OF DISTRIBUTION 37
4.4 GLOBAL ASHWAGHANDHA MARKET: LABELLING CLAIMS 38
4.4.1 FSSAI LABELLING CLAIMS: 38
4.4.2 U.S. 40
4.5 GLOBAL ASHWAGANDHA MARKET- INDUSTRY TRENDS AND FUTURE PERSPECTIVE 41
4.5.1 RISING ADOPTION OF ASHWAGANDHA INGREDIENTS BY END USERS 41
4.5.2 GROWING COLLABORATIONS AND PARTNERSHIPS 41
4.6 SUPPLY CHAIN OF GLOBAL ASHWAGANDHA MARKET 42
4.6.1 RAW MATERIAL PROCUREMENT 42
4.6.2 ASHWAGANDHA PRODUCTION/PROCESSING 42
4.6.3 MARKETING AND DISTRIBUTION 43
4.6.4 END USERS 43
4.7 GLOBAL ASHWAGANDHA MARKET: REGULATORY FRAMEWORK 44
4.7.1 EUROPE 44
4.7.1.1 Global-Regulation: 44
4.7.1.2 Regulation by Belgium: 44
4.7.1.3 Regulation by Hungary: 44
4.7.1.4 Leveraging Principle of Mutual Recognition: 44
4.7.2 U.S. 44
5 MARKET OVERVIEW 45
5.1 DRIVERS 47
5.1.1 RAPIDLY INCREASE IN DEMAND FOR ASHWAGANDHA SUPPLEMENTS 47
5.1.2 GROW IN POPULARITY OF ASHWAGANDHA OWING TO ITS NUTRITIONAL AND HEALTH BENEFITS 47
5.1.3 SURGE IN DEMAND OF ASHWAGANDHA IN FUNCTIONAL FOOD AND BEVERAGES AND PHARMACEUTICAL INDUSTRY 48
5.2 RESTRAINTS 48
5.2.1 LESS AWARENESS REGARDING THE BENEFITS OF ASHWAGANDHA 48
5.2.2 SIDE EFFECTS OF ASHWAGANDHA 49
5.3 OPPORTUNITIES 49
5.3.1 RAPIDLY GROWING ADOPTION FOR AYURVEDIC MEDICINES 49
5.3.2 SEDENTARY LIFESTYLE AMONG PEOPLE IS INCREASING DEMAND FOR ASHWAGANDHA TO PROMOTE HEALTH AND WELLNESS 49
5.3.3 RISE IN DEMAND FOR ASHWAGANDHA MEDICINES & SUPPLEMENTS DUE TO COVID-19 PANDEMIC 50
5.4 CHALLENGES 51
5.4.1 POOR QUALITY OF CLINICAL RESEARCH ON AYURVEDIC MEDICINES 51
5.4.2 . SUPPLY CHAIN DISRUPTION DUE TO COVID-19 51
6 COVID-19 IMPACT ON ASHWAGANDHA MARKET 52
6.1 ANALYSIS ON IMPACT OF COVID-19 ON THE GLOBAL ASHWAGANDHA MARKET 52
6.2 AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST GLOBAL ASHWAGANDHA MARKET 53
6.3 STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE 53
6.4 PRICE IMPACT 54
6.5 IMPACT ON DEMAND 54
6.6 IMPACT ON SUPPLY CHAIN 54
6.7 CONCLUSION 54
7 GLOBAL ASHWAGANDHA MARKET: COMPANY LANDSCAPE 55
7.1 COMPANY SHARE ANALYSIS: GLOBAL 55
7.2 COMPANY SHARE ANALYSIS: NORTH AMERICA 56
7.3 COMPANY SHARE ANALYSIS: EUROPE 57
7.4 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 58
8 SWOT ANALYSIS 59
9 COMPANY PROFILE 60
9.1 KSM66 ASHWAGANDHA 60
9.1.1 COMPANY SNAPSHOT 60
9.1.2 COMPANY SHARE ANALYSIS 60
9.1.3 PRODUCT PORTFOLIO 60
9.1.4 RECENT DEVELOPMENTS 61
9.2 SABINSA 62
1.2.2 COMPANY SANPSHOT 62
9.2.1 COMPANY SHARE ANALYSIS 62
9.2.2 PRODUCT PORTFOLIO 62
1.2.3 RECENT DEVELOPMENTS 63
9.3 BIOPREX LABS 64
9.3.1 COMPANY SNAPSHOT 64
9.3.2 COMPANY SHARE ANALYSIS 64
9.3.3 PRODUCT PORTFOLIO 64
9.3.4 RECENT DEVELOPMENTS 64
9.4 NATREON INC. 65
9.4.1 COMPANY SNAPSHOT 65
9.4.2 COMPANY SHARE ANALYSIS 65
9.4.3 PRODUCT PORTFOLIO 66
9.4.4 RECENT DEVELOPMENT 66
9.5 CARRUBBA INC 67
9.5.1 COMPANY SNAPSHOT 67
9.5.2 COMPANY SHARE ANALYSIS 67
9.5.3 PRODUCT PORTFOLIO 67
9.5.4 RECENT DEVELOPMENT 68
9.6 AUNUTRA INDUSTRIES INC. 69
9.6.1 COMPANY SANPSHOT 69
9.6.2 PRODUCT PORTFOLIO 69
9.7 CREATIVE ENZYMES 70
9.7.1 COMPANY SNAPSHOT 70
9.7.2 PRODUCT PORTFOLIO 70
9.7.3 RECENT DEVELOPMENTS 70
9.8 GREENJEEVA 71
9.8.1 COMPANY SNAPSHOT 71
9.8.2 PRODUCT PORTFOLIO 71
9.8.3 RECENT DEVELOPMENTS 72
9.9 HERBAL CREATIONS 73
9.9.1 COMPANY SNAPSHOT 73
9.9.2 PRODUCT PORTFOLIO 73
9.9.3 RECENT DEVELOPMENTS 73
9.10 HERBOCHEM 74
9.10.1 COMPANY SNAPSHOT 74
9.10.2 PRODUCT PORTFOLIO 74
9.10.3 RECENT DEVELOPMENTS 74
9.11 MEDIKONDA NUTRIENTS 75
9.11.1 COMPANY SNAPSHOT 75
9.11.2 PRODUCT PORTFOLIO 75
9.11.3 RECENT DEVELOPMENTS 75
9.12 SIMPLY BY NATURE LTD 76
9.12.1 COMPANY SNAPSHOT 76
9.12.2 PRODUCT PORTFOLIO 76
9.12.3 RECENT DEVELOPMENTS 76
10 QUESTIONNAIRE 77
11 RELATED REPORTS 80
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