The global Ashwagandha Extract Market was valued at $864.3 million in 2021, and is projected to reach $2.5 billion by 2031, growing at a CAGR of 11.4% from 2022 to 2031. Withania somnifera, often known as ashwagandha, is a common plant used in Ayurvedic treatment. It is a tiny shrub that is a member of the Solanaceae family. It could be beneficial for a variety of illnesses, mostly as a nervine tonic (has a soothing effect on nerves). Ashwagandha is also known as Indian winter cherry or Indian ginseng. The rasayana (tonic) virtue of ashwagandha is well recognized. Rasayana is an herbal or metallic concoction that promotes happiness and a youthful state of physical and mental health.
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Rise in demand for natural functional food and drinks and rise in inclination of the people toward healthy lifestyle and rise in spending on healthy and fortified food is likely to boost the ashwagandha extract market demand during the forecast period. Ashwagandha has a number of health advantages as it lowers cholesterol levels, boosts male fertility, eases anxiety and stress, fights diabetes, controls hair loss, slows the progression of osteoporosis and rheumatoid arthritis, treats cancer, stimulates the thyroid gland, lessens eye diseases, has anti-tumor, anti-inflammatory, and antibacterial properties.
Major Key Players:
The players operating in the global ashwagandha extract industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report The Himalaya Drug Company, Dabur India Ltd., Emami Limited, Kairali Ayurvedic Group, P&G, Patanjali Ayurved Limited, Kerry Group PLC, Shree Baidyanath Ayurveda Bhawan Pvt. Ltd., Taos Herb Company and Unilever PLC.
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Regional Analysis:
According to the ashwagandha extract market opportunity, region wise, North America garnered the major ashwagandha extract market share in 2021, and is expected to maintain its market share throughout ashwagandha extract market forecast period. North America witnessed a significant growth rate in 2021 due to extensive awareness about using ayurvedic herbs medicines including ashwagandha extract and acceptance by the large population in the region. People are beginning to discover ayurveda as a sister science of yoga. Increasing consumer awareness and growing demand for ayurvedic medicines products in the region is expected to gain a major traction in the market.
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