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Withania Somnifera Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Most commonly known as Ashwagandha, also recognized as Indian ginseng, poison gooseberry, and winter cherry has been used from ancient times in many cultures for its health benefits such as Indian Ayurvedic system uses Withania somnifera as medicine Rasayana (tonic), particularly since a nerve tonic.

The wide spread popularity of Withania somnifera has led to manufacturers introducing different products with health benefits such as sports nutrition, memory, and aging, immune support among others. Ashwagandha can be used in weight management program and thus has picked up in the herbal segment as natural weight management remedy.  

The rise in demand for dietary supplements has been driving the withania somnifera market. The market has not yet reached to high widespread acceptance, but the increasing consumer awareness and increasing trust in herbal/botanical supplements have unquestionably cemented the growth of withania somnifera. The withania somifera market is growing at a rapid pace with growing demand for natural products.

Withania Somnifera Market Segmentation

Withania Somnifera market is segmented by form, application, distribution channel and region. By form, it is segmented as dry root, powder, and liquid extract. The use of conventional dry form has been widely accepted in certain cultures, but the availability of different dosage forms such as capsule formulation being more popular in use due to its convenience, and therefore the powdered form is expected to endure its steady growth rate. Also, factors like increasing health awareness and availability of quick information online are expected to supplement the growth of the powder segments.

By application, the withania somnifera market is segmented into three main applications; dietary supplement, cosmetic and beverages. The use of dietary supplements has seen a rise in demand in developed economies such as the U.S. where the population has a heightened trust in an herbal and botanical supplement. The use of withania Somnifera is gaining high popularity in regions of South East Asia. A supply driven demand has contributed to the market development where manufacturers are constantly innovating new products for varies applications, cosmetic applications are one such example where the benefits of withania somnifera are portrayed for growth in cosmetic industry.

By distribution channel, withania somnifera market is segmented as; Direct sales and indirect sales. The indirect segment is further sub segmented into; specialty stores, modern trade, online retail and other retail formats.

By region the withania somnifera market is segmented into Asia Pacific, North America, Japan, Western Europe and the Middle East. Most traditional natural supplements such as Ayurvedic (Indian traditional medicine) are now highly accepted by the western world.

The European Region with its proactive research for natural products approach has eyed this segments and successfully gained popularity, with countries such as Germany has one of the largest investment in botanicals research. The withania somnifera market is also expected to growth in these regions during the forecast period.

Withania Somnifera market Global Market Trends and Market Drivers:

The growth of herbal healthcare market remains persistent due to its appeal as healthy and safe to use products. The sedentary lifestyle among people is creating an ever increasing demand for health and wellness promoting supplements. Withania somnifera with its natural, little to no side effect USP has gained attention by consumers looking for a natural weight management remedy and also for the general tonic for brain. The high valued trust on Ayurvedic preparation in western countries has attracted the Ayurvedic manufacturers to sell their withania somnifera products worldwide. The concreted faith among consumers of Ayurvedic products backed by the information available globally is expected to fuel the growth of withania somnifera market.  The popularity of ashwagandha has been observed by recent product launches such as “Amul Memory Milk” by Gujarat Cooperative Milk Marketing Federation (GCMMF, Indian Dairy manufacturing company) which uses Ashwagandha in its sterilized homogenized flavored toned milk and marketed as the memory enhancer.

Withania Somnifera Market Key Players:

Some of the global market players manufacturing Withania somnifera include; Himalaya Global Holdings Ltd., AuNutra Industries Inc., Amax NutraSource, Inc., Carrubba Inc., Sabinsa Corporation, Banyan Botanicals among others. The key players are focusing on developing natural products for attaining growth in withania somnifera market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market    
     

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