Global Shilajit Market Size To Worth USD 384.8 Million by 2033 | CAGR Of 8.96%
Category: Consumer GoodsGlobal Shilajit Market Size To Worth USD 384.8 Million by 2033
According to a research report published by Spherical Insights & Consulting, the Global Shilajit Market Size is to Grow from USD 163.2 Million in 2023 to USD 384.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 8.96% during the projected period.
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Browse key industry insights spread across 210 pages with 120 Market data tables and figures & charts from the report on the "Global Shilajit Market Size, Share, and COVID-19 Impact Analysis, By Form (Liquid, Powder, and Capsules/Tablets), By Application (Bone & Joint Health, Sexual Health, Anti-aging, General Health, and Others), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/shilajit-market
Shilajit is a naturally occurring chemical that is mostly found in the Himalayas. It was created decades ago when bacteria gradually broke down particular plants. It is a potent, incredibly safe dietary supplement that brings back the natural balance of energy. Fulvic acids, dibenzo-alpha-pyrones, and dibenzo-alpha-pyrone-chromoproteins are the active components of Shilajit. Shilajit, a mineral-rich supplement that is traditionally used in Ayurvedic medicine, is becoming more well-known for its many health advantages, which include improving physical performance, supporting cognitive function, increasing energy, and encouraging beneficial aging. The rising acceptance of Ayurvedic health practices among the general population has been the main driver of the shilajit industry. Shilajit extracts have seen growth in the market as consumers seek comprehensive, all-natural remedies. Furthermore, the existence of several pollutants, including mycotoxin, heavy metal ions, polymeric quinones (oxidant agents), and free radicals, is one of the obstacles impeding the growth of the shilajit industry.
The liquid segment is anticipated to grow at the highest CAGR of the shilajit market during the projected timeframe.
Based on the form, the shilajit market is divided into liquid, powder, and capsules/tablets. Among these, the liquid segment is anticipated to grow at the highest CAGR of the shilajit market during the projected timeframe. Semi-liquid resin shilajit is known for having a high bioavailability, which means the body can absorb it quickly and effectively. Faster and more obvious effects are the outcome, which is important for customers looking for instant benefits such as improved energy or cognitive function.
The sexual health segment is expected to hold a significant market share of the shilajit market during the projected timeframe.
Based on the application, the shilajit market is divided into bone & joint health, sexual health, anti-aging, general health, and others. Among these, the sexual health segment is expected to hold a significant market share of the shilajit market during the projected timeframe. Shilajit is a powerful stimulant and treatment for sexual dysfunction that has been used for generations in traditional Ayurvedic medicine. The reason for its demand in this market category is its enduring reputation as a natural promoter of sexual health.
The offline segment accounted for the largest revenue share of the shilajit market during the projected timeframe.
Based on the distribution channel, the shilajit market is divided into offline and online. Among these, the offline segment accounted for the largest revenue share of the shilajit market during the projected timeframe. Pharmacists, health experts, and staff members are frequently available through offline channels and can provide individualized advice based on each individual's unique health needs. Customers prefer getting shilajit pills from local herbal stores or ayurvedic shops in many locations, especially in nations where traditional medicine is commonly practiced.
North America is expected to hold the largest share of the shilajit market over the forecast period.
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North America is expected to hold the largest share of the shilajit market over the forecast period. This dominance is due to the market rapidly changing in favor of preventative health and wellness, and more and more customers are searching for natural and organic supplements. Shilajit is a natural substitute for artificial vitamins; therefore it fits right into this trend.
Asia Pacific is predicted to grow at the fastest pace in the shilajit market during the projected timeframe. Ayurvedic medicine has traditionally used shilajit, especially in India and Nepal. Shilajit has found more popularity in these markets due to its familiarity with local cultures, and its well-known health advantages. The Asia Pacific area is seeing an increase in the popularity of preventative health and well-being.
In Europe, people are becoming more knowledgeable about Ayurvedic medicine and its natural cures. Shilajit, a fundamental ingredient in Ayurveda, is becoming more well-known for its alleged advantages in improving health, vitality, and mental clarity. Consumers in Europe are searching for supplements with clean labels that are, natural, organic, and free of artificial substances.
Major vendors in the shilajit market are Undersun Biomedtech Corp., VISTERRA, Mufan Biology, Xi’an Changyue Biological Technology, Botanic Healthcare, Alpspure Lifesciences, HERBOIL CHEM, Creative Enzymes, Xian Aladdin Biological Technology, Shaanxi Huachen Biotech, Blisque Inc., CYMBIOTIKA LLC, and others.
Recent Developments
- In July 2022, Dabur India Ltd. announced it at Amazon.in's Prime Day event the launch of "Dabur Himalayan Shilajit," an expansion of the dependable healthcare and energizer brand Dabur Shilajit. This novel product is a natural health enhancer to enhance well-being and healthfully encourage aging.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the shilajit market based on the below-mentioned segments:
Global Shilajit Market, By Form
- Liquid
- Powder
- Capsules/Tablets
Global Shilajit Market, By Application
- Bone & Joint Health
- Sexual Health
- Anti-aging
- General Health
- Others
Global Shilajit Market, By Distribution Channel
- Offline
- Online
Global Shilajit Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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