According to the latest report by IMARC Group, titled "India Ayurvedic Products Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India ayurvedic products market reached a value of US$ 515.5 Billion in 2021. Ayurveda refers to a natural ancient healthcare system and science of medicine. It is based on the belief that health and wellness depend upon the spirit, body and mind of individuals. Ayurvedic products are mainly derived from animals, plants, metals and minerals. Some of the popular herbs and spices that are used in the formulation of ayurvedic products include ashwagandha, boswellia, triphala, brahmi, cumin, turmeric, licorice root, gotu kola, bitter melon and cardamom. As a result, they aid in increasing resistance to diseases, eliminating impurities and preventing inflammation while improving overall health.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Ayurvedic Products Market Trends:
The market in India is primarily driven by the increasing preference for organic and natural products among the masses. In line with this, the rising awareness regarding the harmful effects of chemicals utilized in the formulation of various skincare and personal care products and the growing health-consciousness among individuals are creating a positive market outlook. Moreover, the penetration of high-speed internet and the rising popularity of social media among the masses are further providing a boost to the demand for ayurvedic products in India. Along with this, the continuous improvements in the e-commerce sector and the advent of the online delivery models across the country are acting as other major growth-inducing factors. Additionally, numerous leading players are heavily investing in launching diversified product variants in the market, which are gaining widespread prominence among consumers. Other factors, including the shifting lifestyle preferences, the inflating disposable income levels of individuals and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market growth across India. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,536.9 Billion by 2027, exhibiting a CAGR of 19.78% during 2022-2027.
- On the basis of products type, the market has been segmented into healthcare products (ayurvedic nutraceuticals and dietary supplements, and ayurvedic medicines) and personal care products (skincare, oral care, and hair care and fragrances).
- The market has been bifurcated into organized and unorganized.
- Based on the region, the market has been divided into North India, East India, West and Central India and South India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Dabur India Ltd., Patanjali Ayurved Limited, The Himalaya Drug Company, Vicco Laboratories, Charak Pharma Pvt. Ltd., Hamdard Laboratories, Forest Essentials, Emami Ltd., Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Kerala Ayurveda Ltd. and Amrutanjan Healthcare Limited.
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