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Indian Ginseng Market Trends

Report ID: GMI7221
Published Date: Nov 2023
Report Format: PDF

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Ashwagandha Market Trends

In recent years, there has been an increasing integration of ashwagandha into various functional food and beverage products, including energy drinks, nutrition bars, and herbal teas. This trend is largely driven by the rising demand for convenient and on-the-go wellness solutions that cater to the busy lifestyles of modern consumers. Additionally, there has been a noticeable shift towards the development of ashwagandha-based beauty and personal care products, such as skincare serums and anti-aging creams, owing to the growing consumer inclination towards natural and organic ingredients in the cosmetic industry.

Authors: Kiran Pulidindi, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of the Indian ginseng reached USD 641 million in 2022 and is set to surpass USD 1.18 billion by 2032, owing to the rising consumer preference for natural and herbal supplements along with the growing awareness of its various health benefits.

The Indian ginseng industry from the KSM 66 segment generated USD 192.8 million in revenue in 2022, due to its high potency and standardized composition leading to its rising application in pharmaceutical and nutraceutical products.

Asia Pacific ashwagandha market was worth USD 225.9 million in 2022, attributed to the rich cultural heritage of the region which is deeply rooted in the use of botanical remedies.

Some of the top companies engaged in the market are KSM-66 Ashwagandha, Sensoril Ashwagandha, Ashwagandha Research & Development, Arjuna Natural Extracts, Sabinsa Corporation, Himalaya Global Holdings, Dabur India, Amway India, Sri Sri Ayurveda, Patanjali Ayurved, and Herbalife Nutrition.