Indian ayurvedic market is anticipated to grow at a considerable CAGR of 15.6% during the forecast period. The market is experiencing significant growth due to factors including the rising awareness about the importance of a healthy lifestyle, the increasing preference in favour of chemical-free natural products, as well as favourable government initiatives that have led to the expansion of the ayurvedic market in India. For instance, in May 2022, the Ministry of Ayush and Food Safety & Standards Authority of India (FSSAI) under MoHFW (Ministry of Health and Family Welfare, Government of India), India’s apex body for food regulation formulated regulations of safety & quality standards for food products. This extensive program will guarantee the production of high-quality ayurvedic items and aid in growing the global market for Made-In-India goods. Additionally, in March 2022, an agreement was made by the World Health Organization (WHO) with the Indian government to launch the WHO Global Centre for Traditional Medicine. The Government of India invested USD 250 million to support this global research center for traditional medicine. The idea is to use cutting-edge research and technology to connect the potential of conventional medical practices from around the globe to enhance both human and environmental health.
The Indian ayurvedic market is segmented based on the product type and distribution Channel. Based on the product type, the market is sub-segmented into personal care and healthcare. The personal care sub-segment is further sub-segmented into hair care, oral care, and skin care. The healthcare segment is further bifurcated into dietary supplements and ayurvedic medicine/drugs. Furthermore, based on the distribution channel, the market is sub-segmented into supermarkets, pharmacies, departmental stores, and online stores. Among the product type, the personal care sub-segment is expected to hold a significant share of the Indian ayurvedic market. The primary factor contributing to the segmental growth includes the rising use of herbal ingredients by manufacturers for the production of personal care products such as lotions, oils, shampoos, and others. For instance, in February 2021, Vedix, an ayurvedic haircare company expanded its business into the skincare market by introducing a product line of goods that combine technology and all-natural ingredients. With its new skincare line, Vedix expects to increase its consumer base throughout India and extend its presence to new demographics.
Among the distribution channel, the online stores sub-segment is expected to hold a significant share of the Indian ayurvedic market. The primary factor supporting the segmental growth includes the increasing internet penetration along with the growing usage of smartphones across the country. Owing to this, the key players operating in the market are shifting their focus on establishing online channels with an aim to increase sales. For instance, in September 2017, Dabur partnered with Amazon to launch Ayurveda Online, an online multi-brand marketplace. The platform features several ayurvedic products of brands including Patanjali and others.
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Market Coverage
- The market number available for – 2022-2029
- Base year- 2022
- Forecast period- 2023-2029
Segment Covered-
- By Product Type
- By Distribution Channel
- Competitive Landscape- Dabur India Ltd., Patanjali Ayurved Ltd., Veda Ayurvedics Pvt. Ltd., Charak Pharma Pvt. Ltd., Kerala Ayurveda Ltd., and others.
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Indian Ayurvedic Market Report Segment
By Product Type
Personal Care
- Hair Care
- Oral care
- Skin Care
Heath Care
- Dietary Supplements
- Ayurvedic medicine/Drugs
By Distribution Channel
- Supermarket
- Pharmacies
- Departmental Stores
- Online Stores
Company Profiles
- Dabur India Ltd.
- Patanjali Ayurved Ltd.
- Veda Ayurvedics Pvt. Ltd.
- Vicco Laboratories (The Aadya Enterprises)
- Charak Pharma Pvt. Ltd.
- Hamdard Laboratories (India)
- Forest Essentials
- Emami Group
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Kerala Ayurveda Ltd.
- Amrutanjan Healthcare Ltd.
- Sandu Pharmaceuticals Ltd.
- Surya Herbal
- Shree Dhootapapeshwar Ltd.
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