Ayurvedic Market: Size, Share, Growth & Demand

Ayurveda is an Indian medicine system that is derived from "Ayurvedic" natural form and alternative medicine. Ayurvedic medicine is one of the world's oldest holistic healing system. It is based on the belief that health and wellness depend on the delicate balance between the mind, body, and spirit.

Ayurveda is a system of medicine that has its origination roots in the Indian subcontinent. It uses natural healing practices to cure clinical conditions such as sinusitis, cough, depression, and insomnia. Ayurveda therapies have been integrated in general wellness and in some cases in medical use worldwide. In addition, ayurvedic ingredients are extensively used in personal care products and health supplements along with drugs.

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The growth of the global ayurvedic market is driven by increase in awareness of adverse effects of allopathy among consumers. In addition, other factors that drive the market growth are easy availability, affordability, and increase in awareness of the benefits of ayurvedic products. Moreover, expanding medical tourism across the globe is expected to propel the market growth. However, factors which hamper the growth of this market include lack of standardization of procedures to manufacture ayurvedic products and inconsistent supply of raw materials. Conversely, rise in awareness about ayurvedic natural ingredients in health and personal care products in the developed countries such as the U.S., Canada, Australia, Singapore, and Japan is expected to offer growth opportunity for the market in the near future.

The global ayurvedic market is categorized on the basis of product, distribution channel, and region. Based on product, the market is categorized into healthcare products, personal care products, skin care, hair care, oral care, and drugs. By distribution channel, it is classified into supermarkets, pharmacies, departmental stores, beauty spa/salon, internet retailing and, specialty stores. Regionally, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, Singapore, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

The key players operating in the global ayurvedic market are Emami Limited, Charak Pharma Pvt. Ltd., Vicco Laboratories, Patanjali Ayurved Limited, Leverayush, Dabur India Limited, SHREE BAIDYANATH AYURVED BHAWAN PVT. LTD., and the Himalaya Drug Company.

Source: The Insight Partners