The Business Research Company’s report on the Indian Ginseng Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the indian ginseng market further?
The rising demand for natural and herbal products is expected to propel the growth of the Indian ginseng market going forward. Natural and herbal products are made from plant-based or naturally sourced ingredients, used for health, wellness, and beauty, with minimal processing to preserve their benefits. The rising demand for natural and herbal products is attributed to increasing consumer awareness of health benefits, growing preference for chemical-free ingredients, and the expansion of sustainable and organic product offerings across various industries. Indian ginseng (Ashwagandha) supports natural and herbal products by promoting stress relief, boosting energy, and enhancing wellness, aligning with the growing demand for plant-based, chemical-free solutions. For instance, in September 2024, according to HerbalGram, a US-based nonprofit organization, the total annual sales of herbal dietary supplements in the U.S. increased by 4.4%, rising from $12.018 billion in 2022 to $12.551 billion in 2023. Therefore, the rising demand for natural and herbal products is driving the growth of the Indian ginseng market.
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What are the key factors influencing the forecasted market size of the indian ginseng industry?
The Indian ginseng market size has grown strongly in recent years. It will grow from $0.86 billion in 2024 to $0.94 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increasing consumer awareness of herbal remedies, rising demand for adaptogenic herbs, growth in organic and natural product markets, increased research and clinical studies, and government support for ayurvedic exports.
The Indian ginseng market size is expected to see strong growth in the next few years. It will grow to $1.29 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing consumer awareness of herbal and ayurvedic products, rising demand for natural health supplements, expanding pharmaceutical and nutraceutical applications, increasing exports of Indian ginseng products, and expansion of e-commerce and online herbal product sales. Major trends in the forecast period include integration in sports nutrition, strategic collaborations and partnerships, biotech innovations in cultivation, adoption in weight management products, and adoption in traditional Chinese medicine.
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Who are the leading competitors in the indian ginseng market?
Major companies operating in the indian ginseng market are Herbalife Nutrition, Kabir Lifesciences, Patanjali Ayurved, Botanic Healthcare, Apex International, Organic India Pvt. Ltd., Arjuna Natural Pvt. Ltd, Korea Ginseng Corp., Sabinsa Corporation, Kairali Ayurvedic Group, Himalaya Global Holdings, Baidyanath Group, Medikonda Nutrients, Amway India, Ixoreal Biomed, Uniray Lifesciences, Sandu Pharmaceuticals Ltd, PhytoLife Sciences, Zoic Pharmaceuticals, Charak Pharma Pvt. Ltd, Kshipra Biotech Private Limited, Greenwell Lifesciences, Shree Sai Biotech.
Which emerging trends are set to transform the indian ginseng market landscape?
Major companies operating in the Indian ginseng market are focusing on developing innovative products, such as organic gummies to expand their consumer base and meet the growing demand for natural health supplements. Organic gummies are chewable, gelatin- or pectin-based candies made from organically sourced ingredients. These ingredients typically include organic sweeteners, natural flavors, and organic fruit extracts. For instance, in August 2023, Himalaya Wellness Company, an India-based pharmaceutical manufacturing company, launched Himalaya’s plant-based organic ashwagandha gummies. These gummies made with clinically studied KSM-66 Ashwagandha root extract provide stress relief, enhance energy, and improve sleep quality. They are formulated to support adrenal function and balance cortisol levels. Free from gluten, dairy, corn, and soy, they are also USDA organic certified and non-GMO project verified, ensuring a clean and natural supplement choice.
How do different geographies compare in terms of market share and growth potential in the indian ginseng market?
Asia-Pacific was the largest region in the Indian ginseng market in 2024. The regions covered in the indian ginseng market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the indian ginseng market are experiencing the fastest growth?
The indian ginseng market covered in this report is segmented –
1) By Type: KSM-66, Sensoril, Hydro-Alcoholic Indian Ginseng, Crude Indian Ginseng
2) By Form: Powder, Capsule, Liquid
3) By Function: Improved Stamina, Improved Immunity, Overall Wellbeing, Reduced Anxiety And Stress, Brain Health, Muscle Strength, Other Functions
Subsegments:
1) By KSM-66: Organic KSM-66, Conventional KSM-66, Encapsulated KSM-66, Powdered KSM-66
2) By Sensoril: Standardized Sensoril Extract, Full-Spectrum Sensoril, High-Potency Sensoril, Water-Soluble Sensoril
3) By Hydro-Alcoholic Indian Ginseng: Ethanol-Based Extract, Methanol-Based Extract, Combination Solvent Extract, Liquid Hydro-Alcoholic Extract
4) By Crude Indian Ginseng: Whole Root Indian Ginseng, Dried Root Powder, Raw Indian Ginseng Slices, Crushed Indian Ginseng
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How is the indian ginseng market defined?
Indian ginseng refers to withania somnifera, commonly known as ashwagandha. It is a medicinal herb used in Ayurveda for its adaptogenic and rejuvenating properties. Ashwagandha is known for its ability to reduce stress, enhance cognitive function, improve physical endurance, and support overall well-being.
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