The new report by Expert Market Research titled, ‘India Ayurvedic Products Market Report and Forecast 2023-2028’, gives an in-depth analysis of the India ayurvedic products market, assessing the market based on its segments like product types, sectors, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
India Ayurvedic Products Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 15%
|Growth Rate CAGR||15%|
|Major Players||Dabur India Limited, Forest Essentials, Patanjali Ayurved Limited, The Himalaya Drug Company,
Emami Group, Hamdard Laboratories and others
The ayurvedic products market in India is being driven by the rising cases of chronic diseases such as diabetes and cancer, coupled with the growing faith on the Ayurvedic practices. Over the forecast period, the rapid development of convenience stores and pharmacies dedicated towards offering high-quality Ayurvedic products in India is anticipated to accelerate the market growth.
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Moreover, the changing shift of the population from western personal care products with chemical additives, towards 100% natural ayurvedic products is likely to provide impetus to the market in the coming years. The market is anticipated to be aided by the favourable policies of the government aimed towards increasing the accessibility of ayurvedic products in the rural areas.
India Ayurvedic Products Industry Definition and Major Segments
Ayurveda refers to the ancient Hindu branch of medicine which deals with the heath and well-being of a person. Ayurvedic products are the products derived from herbs and spices, which are used to cleanse the body and to restore balance of the body, mind, spirit, and soul. Ayurvedic products are also aimed at providing protection to skin and hair.
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On the basis of product type, the market can be bifurcated into:
- Healthcare Products
- Ayurvedic Nutraceuticals and Dietary Supplements
- Ayurvedic Medicines
- Personal Care Products
- Skin Care
- Oral Care
- Hair Care and Fragrances
The market can be broadly categorised on the basis of sector into:
The regional markets for India ayurvedic products include:
- North India
- West and Central India
- South India
- East India
India Ayurvedic Products Market Trends
The growing R&D activities by the major Indian and foreign market players aimed towards developing treatment for chronic diseases by mixing ayurvedic medicines with modern medicines are the key trends in the market. The increasing inclination towards healthy and disease-free living is anticipated to be a crucial trend in the market which is anticipated to propel the demand for ayurvedic products.
Moreover, the thriving e-commerce industry in the country, which offer a wide range of ayurvedic beauty and personal care products, is likely to be another major trend in the market. In addition to this, the increasing disposable income, and growing population of the country is likely to invigorate the market in the forecast period.
Key Market Players
The major players in the market are Dabur India Limited, Forest Essentials, Patanjali Ayurved Limited, The Himalaya Drug Company, Emami Group, and Hamdard Laboratories, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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