Press release
Ayurveda Market Size 2020 Industry Insights by Global Share, Top Key Players, Regional Analysis and Forecasts to 2030
The Ayurveda market has been estimated to grow at a significant speed in the forthcoming years. The growth in the global market has been attributed to the low side effects of Ayurvedic products or medicines on human beings. In addition to this, a noticeable increase in the demand for immunity-boosting herbal products is also driving demand opportunities in the global market in the years to come.
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In recent years, there has been a noteworthy increase in the cases of chronic health problems and obesity among the global population. These health issues around the world are stimulating people to opt the food and beverages with functional benefits in order to bolster their immunity. These factors are likely to fuel the demand avenues in the global market in the foreseeable years.
The ayurvedic medicines only contain the herbal extracts from the plants compared to allopathy medicines that contain chemicals. Thus, based on these health-efficient factors, the Ayurveda market has been projected to grow at a noticeable speed during the forecast period.
Ayurveda Market: Key Trends
There has been an increase in the demand for various Ayurvedic products, for example, nutraceuticals, dietary supplements, and medicines. These growing requirements are likely to drive the demand opportunities in the global Ayurveda market in the foreseeable years.
The increased number of people that are diagnosed with chronic diseases because of constantly changing lifestyles as well as eating habits has also bolstered the need to consume herbal products across the world. Along with this, the herbal products are consumed at an increased rate on the back of their extraction from natural ingredients. So, on the basis of this trend, the global market has been estimated to experience growth impetus in the years to come.
On the flip side, inadequate knowledge related to Ayurveda science among the western countries has been serving as the key challenge for the expansion avenues in the global Ayurveda market. Although people across the world are using these ayurvedic products at an increased rate in recent years. This rapid increase in the consumption of these products on attributed to basic healthcare. But, the absence of awareness related to the scientific documentation of Ayurveda among western countries is predicted to limit the growth avenues in the global market in the upcoming years.
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Ayurveda Market: Competitive Dynamics and Key Developments
The players from the global Ayurveda market have been adopting innumerable growth strategies in order to bring fortune in the following years. Some of the key growth strategies include portfolio diversion, development and launching of different technologically advanced products, expansion of the company's footprints with the implementation of subsidiaries and partnerships, mergers and acquisitions, and expansion of the distribution network. In addition to this, increased investment by the market players for different R & D activities in order to bring technological advancements is likely predicted to fuel the demand opportunities in the global market during the forecast period.
The key players in the Ayurveda market are:
Emami Ltd.
Kairali Ayurvedic Health Resort Pvt. Ltd.
BACFO Pharmaceuticals India Ltd.
Vicco Laboratories
Charak Pharma Pvt. Ltd.
Dabur India Ltd.
Hindustan Unilever Ltd.
Patanjali Ayurved
The Himalaya Drug Co.
Riaan Wellness Pvt. Ltd.
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Ayurveda Market: Regional Assessment
The Ayurveda market has been segmented into Asia Pacific, North America, Europe, and the Rest of the World on the basis of geographical locations. The Asia Pacific region, among different geographical locations the Asia Pacific region has been anticipated to grow at a rapid speed in the years to come. These growth opportunities in the regional market are attributed to the presence of the dominating countries, for instance, Indonesia and India in the region.
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