About Ayurvedic
Ayurveda is an Indian 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 with 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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that India Players will contribute the maximum growth to Global Ayurvedic market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amrutanjan Healthcare Limited (India), Charak Pharma Pvt. Ltd. (India), Dabur (India), Emami Ltd. (India), Forest Essentials (India), Hamdard Laboratories (India), Kerala Ayurveda Ltd. (India), Patanjali Ayurved Limited (India), Shree Baidyanath Ayurved Bhawan Pvt. Ltd. (India), The Himalaya Drug Company (India) and Vicco Laboratories (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Ayurvedic market by Type (Health Care Products, Personal Care Products, Skin Care, Hair Care Products, Oral Care Products and Drugs), Application (Academia and Research, Hospitals and Clinics and Others) and Region.
On the basis of geography, the market of Ayurvedic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets will boost the Ayurvedic market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing R&D Activities and Government Support
Market Growth Drivers:
Growing Awareness of the Effectiveness and Efficacy of Traditional Systems of Medicine, Growing Incidence and Prevalence of Chronic Diseases and Lower Side Effects Associated with Herbal Medicines
Challenges:
Lack of Standardization of Procedures to Manufacture Ayurvedic Products Inconsistent Supply of Raw materials
Restraints:
The Lack of Scientific Validation for Ayurveda in Developed Nations
Opportunities:
Rise in Awareness About Ayurvedic Natural Ingredients in Health and Personal Care Products Worldwide
Market Leaders and their expansionary development strategies
In May 2022, cooking oil major Ruchi Soya acquired Patanjali Ayurved's food business for around Rs 690 crore. This is expected to accelerate Ruchi Soya's transition into the Fast-moving Consumer Goods (FMCG) category. Ruchi Soya Industries Ltd's name changed to Patanjali Foods Ltd after regulatory approval.
The Indian Government set up AYUSH ministry to promote Ayurveda and traditional systems of medicine while the indian council of medical research is conducting molecular-based studies to validate the efficacy of Ayurveda medicines
Key Target Audience
Ayurvedic Products Manufacturer, Raw Material Suppliers, Product Distributor/Suppliers, Wholesalers, Retailers, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.