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India ayurvedic products market exhibited strong growth during 2015-2020 and is expanding at a CAGR of around 15% during 2021-2026. Ayurveda is an ancient science and healthcare system that has been adopted by cultures globally. Ayurveda analyses and cures diseases after understanding an individual’s body type, heartbeat patterns, appearance, vision, etc. There are various protocols and treatments in the ayurvedic system to rectify ailments through the use of herbs, plants, exercise, diet and changes in lifestyle. Throughout the country, various segments of ayurvedic healthcare and personal care products are available. For personal care range, the market is divided into oral care, skincare, make-up, hair care and fragrances. Whereas, for the healthcare range, the market is segmented into ayurvedic nutraceuticals, ayurvedic medicines and dietary supplements. Corporations throughout the country are focusing on developing innovative ayurvedic products and generating awareness among consumers.
India Ayurvedic Products Market Trends and Drivers:
A key factor driving the Indian ayurvedic products market is increasing popularity of natural and organic medicines and their benefits among the consumers. Factors such as rising health concerns and awareness on the side-effects of western medicines is further driving the consumer preference for ayurvedic products in the country. Moreover, catalysed by economic growth and rising incomes, per capita expenditures on healthcare products have increased significantly over the past few years, creating a positive impact on the ayurvedic products market. The distribution network of ayurvedic products have improved significantly, increasing the accessibility of these products across both urban and rural regions. The government of India is also promoting the usage of ayurvedic products through awareness programmes and subsidies.
IMARC Group’s latest report provides a deep insight into the Indian ayurvedic products market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian ayurvedic products market in any manner.
IMARC Group provides an analysis of the key trends in each sub-segment of the India ayurvedic products market, along with forecasts for growth at the country and state level from 2021-2026. Our report has categorized the market based on products type, organized/unorganized and region.
This report also includes:
India ayurvedic products market is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the major players in the market are:
We expect the India ayurvedic products market to exhibit a CAGR of around 15% during 2021-2026.
The changing consumer inclination from chemical-based drugs towards natural and organic medicines with numerous health benefits is driving the India ayurvedic products market.
Sudden outbreak of the COVID-19 pandemic has catalyzed the demand for numerous ayurvedic products with naturally-sourced ingredients for boosting immunity and lowering the risk of coronavirus infection.
Based on the product type, the India ayurvedic products market has been segregated into healthcare products and personal care products, where personal care products currently represent the largest segment.
Based on the organized/unorganized, the India ayurvedic products market can be categorized into organized and unorganized. Currently, organized sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, East India, West and Central India, and South India, where North India currently dominates the market.
Some of the major players in the India ayurvedic products market 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., Amrutanjan Healthcare Limited, etc.
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