WILMINGTON, DE, UNITED STATES, February 3, 2025 /EINPresswire.com/ — The global ashwagandha extract market size was valued at $864.30 million in 2021, and is estimated to reach $2.5 billion by 2031, growing at a CAGR of 11.4% from 2022 to 2031.
Ashwagandha extracts has been gaining significant traction in global market owing health benefits associated such as helping reduce blood sugar levels, stress & anxiety, increasing muscle mass and strength, and many others. Furthermore, owing to its health benefits it has been majorly used in various sports nutrition products, and functional foods. Thereby, boosting the demand for ashwagandha extract during the forecast period.
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Withania somnifera, a nightshade-family fruiting plant commonly known as winter cherry, is known as ashwagandha in Sanskrit. Similar to tomatillos and ground cherries, ashwagandha produces little orange berries in papery husks. Although ashwagandha berries are technically edible, the dried root is the component of the plant that is most in demand. For thousands of years, ayurvedic therapy has relied on the withanolides, which are natural steroids found in ashwagandha root. Withania Somnifera (Ashwagandha) is increasingly in demand in developed markets. This is attributed to changing consumer preferences and trends in the food and beverage sector, which increase demand for herbal and nutritious food ingredients. Additionally, a number of brands have debuted their ashwagandha product line. With increased knowledge and understanding of the advantages of products, consumers are increasingly more careful of the components they ingest. Additionally, it is used to treat a range of diseases and conditions, such as cancer, diabetes, hypertension, stress, rheumatic disorders, and asthma. As a result, the ashwagandha market size is anticipated to rise at a significant rate due to an increase in consumer interest in ashwagandha. As a result, the market’s demand for ashwagandha herbs is rising.
There has been an upsurge in the user base of different social media platforms and other types of internet websites, owing to the large scale distribution of internet services across the world. This user base consists of children, teenagers, middle aged as well as the elderly population. Considering this, most of the engaged stakeholders in the ashwagandha extract market are moving on to digital forms for advertising and marketing. With the help of the internet, companies can help spread knowledge about their products to the farthest reaches of the world and can help improve the awareness regarding their products, especially among their target market. Thus, growing awareness regarding the availability of ashwgandha based sports nutrition, supplement, functional food and others are likely to spur the growth of the ashwagandha extract market size during the forecast period.
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By region wise, North America held the major ashwagandha extract market share in 2021, and is expected to maintain its market share throughout ashwagandha extract market forecast period. The ashwagandha extract market in North America is anticipated to grow significantly during the forecast period. Food producers are being forced to tailor their products in this direction by the rise and evolution of wellness-focused diets and the increase in spending on functional and fortified foods. The market for functional, supplement, and sports nutrition products based on ashwagandha is expanding in the European region for a number of reasons, including the large spending power of consumers and economic stability. North America ashwagandha extract market is expanding as a result of increased consumer awareness of the advantages of food products containing ashwagandha increase in use across a variety of end-use applications, including sports nutrition, weight management, clinical nutrition, heart health, and others.
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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