According to a new report, published by KBV research, The Global Ashwagandha Extract Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 10.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 61,767.85 thousand units, experiencing a growth of 11.1% (2019-2022).
The burgeoning nutraceutical industry has provided a conducive environment for adopting ashwagandha extract. For instance, according to the Ministry of Food Processing Industries, India’s nutraceutical industry is poised to become a global leader, valued at USD 4-5 billion. By 2025, it is projected to increase by over USD 18 billion. As consumers become more proactive about their health and well-being, they increasingly incorporate dietary supplements enriched with ashwagandha into their daily regimen. With a rise in the aging population globally, there is a heightened demand for solutions that promote healthy aging and cognitive function.
The endorsement of Ashwagandha extract by healthcare practitioners and wellness experts has driven its adoption. As more scientific evidence supports its efficacy, healthcare professionals recommend ashwagandha supplements to patients seeking alternative therapies for various health conditions. Ashwagandha is known as an adaptogen, which means it may help the body manage stress more effectively. Products targeting stress relief often contain ashwagandha extract. Ashwagandha is thought to promote energy levels and vitality, making it a popular element in supplements marketed to boost general energy and stamina.
The Business to Business segment is registering a CAGR of 11.5% during (2023 - 2030). Businesses involved in the production of ashwagandha extract supplements often purchase ingredients in bulk quantities from suppliers. B2B transactions enable manufacturers to obtain ashwagandha extract at wholesale prices, resulting in cost savings. This cost efficiency allows manufacturers to produce supplements competitively, making them more accessible to consumers.
The Capsules/Tablets segment is leading the Global Ashwagandha Extract Market by Form in 2022; thereby, achieving a market value of $1.0 Billion by 2030. Capsules and tablets provide a convenient and standardized dosage of ashwagandha extract. Consumers can easily know and control the amount of ashwagandha they consume, making it simpler to incorporate into their daily routines. Capsules and tablets are straightforward to consume, requiring no additional preparation or mixing.
The Sports Nutrition segment is experiencing a CAGR of 11.4% during (2023 - 2030). Athletes and fitness enthusiasts seek ways to optimize their performance and achieve their fitness goals. Ashwagandha extract has the potential to enhance physical performance by improving strength, endurance, and muscle recovery. As a result, including ashwagandha extract in sports nutrition products appeals to individuals looking to maximize their athletic performance. Ashwagandha is an adaptogen that helps the body adapt to stressors and maintain balance.
Full Report: https://www.kbvresearch.com/ashwagandha-extract-market/
The Asia Pacific region dominated the Global Ashwagandha Extract Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.0 Billion by 2030. The North America region is poised to grow a CAGR of 10.4% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 10.7% during (2023 - 2030).
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
By Form (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
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