India Ayurvedic Products Market Report

Market Overview 2023-2028:

The Indian ayurvedic products market size reached INR 626 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 1,824 Billion by 2028, exhibiting a growth rate (CAGR) of 19.3% during 2023-2028. The increasing prevalence of medical disorders, rising health consciousness among consumers, and the easy availability of ayurvedic products through online and offline distribution channels represent some of the key factors driving the market.

Ayurvedic products refer to traditional herbal and natural products based on the traditional Indian system of medicine. They include herbal supplements, teas, oils, and powders made from natural ingredients, such as herbs, spices, roots, and fruits. They promote health and overall well-being by restoring balance to the body and mind and are used to treat various health concerns, such as digestive issues, stress, sleep problems, and skin problems. As they are made from natural ingredients, they have fewer side effects than pharmaceutical drugs and synthetic chemicals. At present, key market players are introducing ayurvedic products according to individual needs and constituent types in India.

India Ayurvedic Products Market Trends:

Rising health concerns due to the side effects of western drugs and the growing awareness about the benefits of natural and organic medicines represent one of the key factors bolstering the market growth in India. In addition, the increasing popularity of ayurvedic products as a safe and healthy alternative to synthetic chemicals and pharmaceuticals is propelling the market growth in the country. Apart from this, the easy availability of ayurvedic products through online and offline distribution channels, coupled with the increasing affordability and easy accessibility of products across both urban and rural regions of the country are fueling the market growth. Moreover, the Government of India (GOI) is undertaking favorable initiatives to support the ayurvedic product industry. For this, the government is organizing exhibitions, trade fairs, and roadshows for the promotion of ayurveda. The government is also investing in different programs to increase the visibility, acceptability, and usage of ayurvedic products in the health system. This, along with the increasing investments in various research and development (R&D) activities for developing new formulations, improving manufacturing processes, and incorporating modern technology into ayurvedic product development is creating a favorable market outlook. Besides this, various strategies to globalize and promote ayurveda with the health system and the increasing number of visitors coming to India to seek ayurvedic treatments and products are offering lucrative growth opportunities to ayurvedic product manufacturers. Other factors, such as changing dietary patterns, increasing prevalence of lifestyle diseases, such as diabetes, obesity, and hypertension, and various incentives and subsidies provided to drug manufacturers and entrepreneurs, are projected to stimulate the growth of the in the country.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India ayurvedic products market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on products type and organized/unorganized.

Product Type Insights:

• Healthcare Products
  • Ayurvedic Nutraceuticals and Dietary Supplements
  • Ayurvedic Medicines
• Personal Care Products
  • Skin Care
  • Oral Care
  • Hair Care and Fragrances
     

The report has provided a detailed breakup and analysis of the India ayurvedic products market based on the product type. This includes healthcare products (ayurvedic nutraceuticals and dietary supplements and ayurvedic medicines) and personal care products (skin care, oral care, and hair care and fragrances). According to the report, healthcare products represented the largest segment.

Organized/Unorganized Insights:

• Organized
• Unorganized
   

The report has provided a detailed breakup and analysis of the India ayurvedic products market based on the organized/unorganized. This includes organized and unorganized. According to the report, organized represented the largest segment.

Regional Insights:

• North India
• East India
• West and Central India
• South India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East India. According to the report, North India was the largest market for India ayurvedic products. Some of the factors driving the North India ayurvedic products market included inflating disposable incomes levels, expanding e-commerce sector, improving supply chain, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the India ayurvedic products market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered 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, etc.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India ayurvedic products market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India ayurvedic products market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India ayurvedic products industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.