The global ”ashwagandha extract market” size is expected to showcase substantial growth backed by the increasing prevalence of stress-induced ailments and the evolving consumer lifestyle that is expected to propel the demand for innovative ashwagandha extract products globally. This information is published by Fortune Business Insights, in its upcoming report, titled, “Ashwagandha Extract Market Size, Share & Industry Analysis, By Type (Capsule, Liquid, Powder), By Application (Sports Nutrition, Dietary Supplements, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Regional Forecast, 2020-2027.”
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented economic loss. Owing to the lockdown announced by the government globally, several industries have been on a standstill with suspended operational activities. However, a collective effort from the government as well as the companies is anticipated to bring the economy towards normalcy and aid in resumption of industrial operations.
Ashwagandha extract is derived from the ashwagandha herb that is extensively found across the regions of Asia and Africa. This herb provides medicinal properties such as lowers sugar levels, reduces anxiety, and promotes better immunity when consumed. In addition to this, the extract of the herb is adopted as a dietary supplement to provide better nutrition to the person.
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The global ashwagandha extract market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global market in 2019, owing to the rise in R&D activities related to ashwagandha so as to increase the potential benefits of the product for various applications. However, increasing awareness of the benefits of the productsand demand for natural dietary supplements and drugs in Asia Pacific is likely to accelerate the growth of the market in this region. This along with presence of major players in countries such as India, and other emerging nationsto promote the sales of the ashwagandha products.Latin America and Middle East & Africa are projected to register a comparatively lower CAGR owing to lack of reach of products in the countries.
Increasing Incidence of Stress-Related Issues to Drive Product Adoption for Medicinal Purposes
According to the global organization for Stress, around 1 in every 75 people suffer from stress-induced ailments across the globe. Additionally, around 33% people have reported to be through extreme stress. The increasing prevalence of stress is propelling the adoption of medicinal drugs such as that containing ashwagandha extracts to treat such ailments. The evolving lifestyle of the consumer to improve their health is further driving the demand for healthy food products that is likely to drive the global ashwagandha extract market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market:
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What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing R&D Activities for Product Development in North America to Aid Growth
Among all the regions, North America is expected to dominate and hold the highest position in the global ashwagandha extract market during the forecast period. The dominance is attributable to the increasing R&D activities by the major companies to develop innovative ashwagandha extract products in the region.
The market in Asia-Pacific is expected to gain momentum backed by the presence of established ashwagandha extract manufacturers in countries such as China and India during the forecast period.
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Product Launches by Key Players to Intensify Industry Competition
The global ashwagandha extract market is consolidated by the presence of several major companies that are striving to gain a major chunk of share and maintain their dominance. These companies are actively focusing on introducing innovative ashwagandha extract products to gain a competitive edge over their rivals. Such initiatives by other key players are likely to contribute to the market growth during the forecast period.
- August 2019 – Arjuna Natural announced its partnership with NutriScience to launch SHODEN, a highly potential ashwagandha extract. The companies are coming together to leverage the opportunities provided by the high demand for the product and further gain a stronghold.
List of the Companies Profiled in the Global Market for Ashwagandha Extract:
- Naturalin Bio-Resources Co., Ltd
- Phyto Life Sciences P. Ltd
- Quad Lifesciences Pvt Ltd
- IDEAL NATURAL EXTRACT,
- Taos Herb Company
- Life Extension
- Xian Sgonek Biological Technology Co., Ltd
- Arjuna Natural Ltd
What are the key segments in the market?
- Sports Nutrition
- Dietary Supplements
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
With tables and figures helping analyse worldwide Global ashwagandha extract Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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