Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Ashwagandha Extract Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for Ashwagandha extract has witnessed significant growth in recent years, with a projection to expand from a valuation of $0.65 billion in 2023 to an impressive $1.15 billion by 2028. Market analysts attribute this robust growth to a compound annual growth rate (CAGR) of 12.1%, bolstered by surging interest in natural health supplements and the adaptogenic properties of Ashwagandha.
Utilized extensively in Ayurvedic medicine for centuries, Ashwagandha has gained popularity across various geographic regions for its stress-relieving and health-enhancing benefits. The high growth trajectory of the Ashwagandha extract market also signifies an ever-growing consumer preference for natural and organic products, reflecting a deeper commitment to health and wellness.
Growing Awareness Drives Ashwagandha Extract Market Expansion
The recent market insights report showcases pivotal elements fostering the Ashwagandha extract market's expansion. Prominent among these is the increased awareness of the adaptogenic properties of Ashwagandha, which has led to its integration into functional foods and beverages, dietary supplements, and sports nutrition. Consumers are increasingly seeking adaptogens to manage stress and enhance general well-being, thus driving the sector's growth.
Innovation and Product Development Spur Market Growth
With ongoing product innovations such as organic gummies and sustained-release formulations, market leaders are catering to the rising consumer demand for convenient and effective health supplements. Innovations in product formulation and delivery methods play a crucial role in attracting consumers and expanding market reach.
Strategic Acquisitions to Enhance Health and Wellness Portfolios
The report notes strategic business movements such as the Kerry Group's recent acquisition of Natreon Inc, which perfectly aligns with the growing interest in Ayurvedic products. Such acquisitions are not only strategic growth initiatives but also enhance the depth and range of offerings in the global health and wellness industry.
Asia-Pacific Leads in Global Adoption
Among the varied regions included in the study, Asia-Pacific emerged as the dominant region in the Ashwagandha extract market for the year 2023. This significant market share underlines the region's deep-rooted cultural connections to traditional medicine and a strong consumer base for herbal supplements.
The report comprehensively covers Ashwagandha extract applications in immune health, stress and anxiety management, weight management, sports nutrition, and general wellness, among others. Detailed insights on market trends, competitive analysis, future opportunities, and growth forecasts are provided, offering stakeholders valuable guidance for informed decision-making.
A selection of companies mentioned in this report includes
- Taos Herb Company
- Phyto Life Sciences Pvt. Ltd.
- Quad Lifesciences Pvt. Ltd.
- Ideal Natural Extract
- Life Extension
- Arjuna Natural Extracts Ltd.
- Sabinsa Corporation
- Naturalin Bio-Resources Co. Ltd.
- Kerry Group
- Ixoreal Biomed Pvt. Ltd.
- Umalaxmi Organics Pvt. Ltd.
- OmniActive Health Technologies Limited
- Unicorn Natural Products Ltd.
- Carrubba Inc.
- Botanic Healthcare
- Aunutra Industries Inc.
- Natreon Inc.
- Himalaya Global Holdings Ltd.
- NutriBoost B.V.
- Organic India
- Simply by Nature Ltd.
- Venkatesh Food Industries
- Vidya Herbs
- Xi'an Sost Biotech Co. Ltd.
- NutraGenesis LLC
- Nature's Velvet Lifecare
- Medikonda Nutrients
- Penn Herb Company
- Emami Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ulk83t
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