Ashwagandha Extract Market Size Worth $1,666.18 Million By 2032 | CAGR: 10.0%

The global ashwagandha extract market size is expected to reach USD 1,666.18 million by 2032, according to a new study by Polaris Market Research. The report “Ashwagandha Extract Market Share, Size, Trends, Industry Analysis Report, By Type (Immunity Health, Stress and Anxiety, Weight Loss, General Health); By Form; By Application; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing importance of natural products in global space is facilitating new growth opportunities for the ashwagandha extract market. The superior performance of this extract in overcoming stress and promoting energy and strength levels are major factors driving its demand among consumers. Most people in the world are raising concerns about the efficient management of stress.

The rising number of people suffering from sleeplessness, which is known as insomnia, is anticipated to drive demand for ashwagandha extract in the long run. According to the 2023 research study, around 37.6% of the general population in Saudi Arabia is facing insomnia problems. This is likely to promote the use of ashwagandha extract, as it has been demonstrated to be effective in enhancing sleep quality and its sleep-inducing ability.

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The increasing number of studies evaluating the prevailing ashwagandha extract is expected to drive market growth optimally. According to a 2023 study focused on Witholytin ashwagandha extract, it has positively impacted stress and fatigue among healthy people with a 12-week consumption of 200 mg twice a day. These types of studies will enhance awareness about the benefits of ashwagandha extract in the coming years.

The significant rise in the incidence of higher anxiety and stress levels is boosting the need for medications. This is anticipated to create a new demand for ashwagandha extract, as it is a traditionally used natural ingredient to overcome anxiety. The growing innovations by the companies are anticipated to promote demand for ashwagandha extract in the study period. For instance, Kerry introduced its latest product, Wellmune Adapt, to enhance immune health and stress management by combining Sensoril, its ashwagandha leaf and root extract. This type of product development is projected to have a positive impact on market growth.

The evaluation of new types of products incorporating ashwagandha extract is projected to foster the growth of the global market. Himalaya Wellness introduced its latest supplement format, Ashwagandha organic gummies made with KSM-66 Ashwagandha root extract. This initiative is likely to necessitate the need for ashwagandha extract in the next few years.

Ashwagandha Extract Market Report Highlights

• The stress and anxiety segment is expected to witness the highest CAGR during the forecast period due to the incidence of stress within the population.
• In 2023, the powder segment accounted for the largest market share, owing to its ease of application and convenience.
• The dietary supplements segment held a significant market revenue share in 2023 due to the rising development of healthy dietary supplements.
• In 2023, the Asia Pacific region accounted for the largest market share and is projected to continue its position over the study period due to the rich tradition of herbal medicine, including the use of ashwagandha. The region's long-standing familiarity with and reliance on herbal remedies contribute to the widespread acceptance and utilization of ashwagandha extracts.
• The global players include Banyan Botanicals Corporation, Himalaya Herbal Healthcare, Nature's Answer Inc., Nature's Way, & NOW Foods Co.

Polaris Market Research has segmented the ashwagandha extract market report based on type, form, application, distribution channel and region:

Ashwagandha Extract, Type Outlook (Revenue - USD Million, 2019 - 2032)

• Immunity Health
• Stress And Anxiety
• Weight Loss
• General Health

Ashwagandha Extract, Form Outlook (Revenue - USD Million, 2019 - 2032)

• Powder
• Capsules Or Tablets
• Liquid
• Other Forms

Ashwagandha Extract, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Dietary Supplements
• Traditional Medicine (Ayurveda)
• Foods and Beverages
  • Herbal Teas
  • Energy Drinks
  • Smoothies
  • Protein Powders
  • Functional Beverages
  • Snacks
  • Dairy and Yogurt Products
  • Infused Water
  • Other Items
• Other Applications

Ashwagandha Extract, Distribution Channel Outlook (Revenue - USD Million, 2019 - 2032)

• Business to Business (B2B)
• Business to Consumer (B2C)
  • Hypermarkets or Supermarkets
  • Specialty Stores
  • Drug Stores and Pharmacies
  • Convenience Stores
  • Online Retail Channels
• Other Sales Channels

Ashwagandha Extract, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of APAC
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of LA
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of MEA

Ashwagandha Extract Market Report Scope