Global Ayurvedic Herbal Extract Market Growth Rate 2024, Forecast To 2033
20 Sep, 2024
The ayurvedic herbal extract market has also seen strong growth, rising from $45.14 billion in 2023 to $48.47 billion in 2024 at a CAGR of 7.4%. This growth is attributed to increasing consumer awareness and government support for natural products. The market is expected to reach $64.81 billion by 2028 at a CAGR of 7.5%, driven by wellness trends and advancements in extraction technologies.
Major Driver In The Ayurvedic Herbal Extract Market
The ayurvedic herbal extract market is poised for growth as consumers increasingly prefer natural and plant-based products. This shift is driven by health consciousness and dietary changes. In 2022, the Plant-Based Foods Association reported a 6.6% increase in plant-based food dollar sales, reaching $8 billion, up from $7.5 billion in 2021. This growing preference for natural products is fueling the growth of the ayurvedic herbal extract market.
Request A Free Sample Of The Ayurvedic Herbal Extract Market ReportAyurvedic Herbal Extract Market Competitive Landscape
Dabur India Limited, Aimil Pharmaceuticals Ltd., Emami Group, Charak Pharma Pvt. Ltd., Swanson Health Products Inc., Vasu Healthcare Pvt. Ltd., Nature's Way Products Inc., Natural Remedies Pvt. Ltd., Gaia Herbs Inc., Maharishi AyurVeda Products International Inc., Organic India Private Limited, Sriveda Sattva Private Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Kairali Ayurvedic Group, Patanjali Ayurved Limited, Sandu Pharmaceuticals Ltd., Botanic Healthcare Private Limited, Himalaya Global Holdings Ltd., Ayush Herbs Inc., Zandu Pharmaceuticals Works Ltd., Ancient Greenfiels Private Limited, Vicco Laboratories, Natreon Inc., Kerala Ayurveda Limited, Herbal Hills Wellness
Key Ayurvedic Herbal Extract Market Trend
In the ayurvedic herbal extract market, companies are introducing wellness products to meet growing consumer demand for natural health solutions. NatureCode, an India-based manufacturer, launched a line of Ayurvedic wellness products in September 2021. These products utilize standardized herbal extracts and include offerings for immunity, blood sugar management, and overall vitality, appealing to health-conscious consumers interested in traditional medicine.
Purchase The Global Ayurvedic Herbal Extract Market Report Directly And Get A Swift DeliveryAyurvedic Herbal Extract Market Segmentation
The ayurvedic herbal extract market covered in this report is segmented –
1) By Type: Ashwagandha, Ajwain, Bramhi, Ginseng, Cardamom, Cumin, Basil, Neem, Licorice Root, Other Types
2) By Form: Liquid Or Tinctures, Powders, Essential Oils, Other Forms
3) By Application: Food And Beverages, Personal Care And Cosmetics, Pharmaceutical And Nutraceutical, Animal Feed
By Geography:The regions covered in the ayurvedic herbal extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the ayurvedic herbal extract market in 2023, and is expected to be the fastest-growing region in the forecast period.
The Ayurvedic Herbal Extract Global Market Report 2024 furnishes information about the global ayurvedic herbal extract market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.