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. Similar to the medication lorazepam, ashwagandha may have anxiolytic (anxiety-relieving) effects. In addition, ashwagandha might have potential as an antidepressant. This suggests that ashwagandha may aid in the treatment of anxiety and depression. It is possible that ashwagandha possesses anti-arthritic qualities that are generally acknowledged and published. Ashwagandha’s ability to calm the nervous system may assist it to reduce pain. Patients in a test study received an ashwagandha-containing formula. This herbal remedy appeared to have the ability to lessen the severity of pain and impairment. Thus, owing to above medicinal benefits of the ashwagandha, it has been gaining considerable traction in pharmaceutical industry.
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Market Drivers:
The increase in consumer awareness regarding personal health and wellbeing is expected to be a key factor driving the market growth for dietary supplements during the forecast period. The working population around the globe is struggling to fulfill the daily nutrient requirements owing to hectic work schedules and changing lifestyles. This is increasing their dependency on dietary supplements to fulfill the nutrient requirements owing to high convenience, which, in turn, is expected to drive the market growth during the forecast period. The elderly population is focusing on adapting nutritional supplements specifically tailored to their needs to maintain their good health and quality of life. Thus, above factors are likely to boost the growth of the ashwagandha extract industry through dietary supplement market during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ashwagandha extract market analysis from 2021 to 2031 to identify the prevailing ashwagandha extract market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ashwagandha extract market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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Prominent Market 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.
Regional Outlook:
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. Furthermore, growing demand for sports nutrition and dietary supplement in the U.S. is likely to boost the growth of the North America ashwagandha extract market during the forecast period.
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