Wilmington, Delaware, United States, Transparency Market Research Inc. -, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global ashwagandha market (아슈와간다 시장) was projected to attain US$ 692.9 million in 2023. It is likely to garner a 9.2% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 1.9 billion.
Ashwagandha, also known as the winter cherry or Withania Somnifera, is advised by Indian Ayurveda for stress and anxiety relief, as well as the management of chronic illnesses, including diabetes and insomnia.
People have been using Ashwagandha's roots and orange-colored fruit for medical purposes for many years. Ashwagandha has been used mostly to treat hypersensitivity. There is ongoing research on the potential benefits of ashwagandha for specific malignancies.
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Key Findings of Market Report
- In Ayurveda, Ashwagandha is known as 'Rasayana'. This implies it contributes to the emotional and physical well-being of adolescents. Researchers are striving to conclude that Ashwagandha can have anti-inflammatory and neuroprotective properties.
- However, actual evidence of Ashwagandha's effectiveness in lowering bad cholesterol, relieving chest discomfort, and preventing heart disease is needed.
- There is also research on the idea that Ashwagandha's neuroprotective qualities protect against numerous neurological illnesses, including Parkinson's, Huntington's, and Alzheimer's.
Market Trends For Ashwagandha
- Ashwagandha has been shown to improve sleep quality when ingested at night. It is thought to produce relaxation, which may help those who suffer from insomnia calm down.
- Ashwagandha contains adaptogenic properties that help people sleep normally. Some have also reported improved energy after taking Ashwagandha.
- The need to reduce sleeplessness is driving the Ashwagandha market expansion.
- Ashwagandha helps to efficiently increase insulin secretion while also improving insulin sensitivity in muscle cells. According to research, using ashwagandha root powder can help diabetics regulate their blood glucose levels.
- According to extensive research, ashwagandha can help improve and regulate fasting blood sugar levels in individuals suffering from stress-related disorders.
- The need to control blood sugar levels is boosting the ashwagandha market size.
Global Market for Ashwagandha: Regional Outlook
Various reasons propel the ashwagandha market growth throughout the regions. These are:
- Asia Pacific accounted for the largest share of the Aswagandha market in 2023, according to the most recent Ashwagandha market study, and this situation is anticipated to be steady throughout the course of the forecast year.
- This is explained by the fact that Ayurveda medicine originated in India. The people over here are big proponents of using botanical or herbal supplements.
- An essential ingredient in herbal and green teas is ashwagandha. The traditional Indian mixture includes a fair amount of lemongrass, turmeric, ashwagandha, and a hint of black pepper.
- Indian tea bags are exported in significant quantities as well. Official figures from the commerce ministry show that between April 2023 and January 2024, India exported tea valued US$ 673 million.
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Global Ashwagandha Market (アシュワガンダ マーケット): Key Players
In order to meet the demands of the growing number of people suffering from diabetes and sleeplessness, firms that make products based on ashwagandha are concentrating on expanding their manufacturing capacity. For example, "Divya Ashwagandha Churna," which Patanjali Ayurved is selling, is supposed to relieve stress and help with sleeplessness.
The following companies are well-known participants in the global ashwagandha market:
- Natreon Inc.
- NOW Foods
- Himalaya Wellness Company
- Organic India
- Gaia Herbs
- Nature’s Way
- Patanjali Ayurved
- Dabur Ltd
- Herbs Village
- Emami Ltd.
- Others
Key Developments
- Herb Farm is well-known for producing tinctures and extracts from herbs. The entire plant is used to make the ashwagandha extract, which is then utilized in a variety of nutritional supplements.
- Ashwagandha extract from Himalaya Drug Company is utilized in a variety of herbal products and Ayurvedic medications.
Global Ashwagandha Market Segmentation
- Formulation
- Powder
- Capsules/Tablets
- Liquid Extracts
- Others
- Application
- Stress Reduction
- Anxiety Relief
- Immune Support
- Anti-inflammatory
- Energy and Stamina Enhancement
- Others
- Distribution Channel
- Retail Pharmacies
- Online Retail
- Health Stores
- Supermarkets/Hypermarkets
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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