Ayurvedic Products Market Leading Players, Current Trends, Market Challenges, Growth Drivers, and Business Opportunities | COVID-19 Effects

The ayurvedic products market size is projected to reach USD 28830.5 Million by 2030 at 12.3% CAGR.As per the MRFR reports, the global market for ayurvedic products is projected to acquire a considerable market by the end of the assessment era.
Ayurvedic products refer to the ayurvedic healthcare and personal care products used for medical treatment. They were invented in India, so the concentration of manufacturers is great in the country. These products are known to have minimum side effects and help detoxify the body's toxic poisons. The ayurvedic products market has witnessed massive growth due to the growing use of traditional techniques for medical purposes and the rising number of working women, and their fondness for chemical-free ayurvedic cosmetics. Furthermore, factors such as growing health and aesthetic concerns, high demand for skincare products, strong emphasis on product innovation, and increasing demand for moisturizers are also likely to catalyze the growth of the ayurvedic product's market over the assessment timeframe. However, the market's growth is likely to be impeded by the lack of rigorous rules and optimal treatments and lack of a killer instinct in the Ayurveda business.

Segment Analysis
Ayurvedic products have been segmented into several segments based on product type, application, end-users, and region.
The ayurvedic products market is split into healthcare, personal care, and others based on product type.
The global market is divided into specific qualities that include GMO-free, vegan, organic, and others based on application.
Based on end-users, the global market for ayurvedic products is bifurcated into e-commerce, convenience stores, pharmacy stores, specialty stores, supermarkets/hypermarkets, and others.

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Regional Analysis

As per the MRFR reports, the global ayurvedic market is divided into five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The Asia-Pacific regional market for ayurvedic products is likely to secure the top position in the market globally. The massive production levels of ayurvedic goods in India are the regional market's primary growth driver. Furthermore, the factors such as the growing demand for herbal products and growing urbanization across the region. Growing import demands from countries such as Canada, Germany, France, and China are likely to benefit the regional market's growth.
Following Asia-Pacific, the North American regional market is likely to secure the second position in the market across the globe. The regional market's growth is being driven by the growing awareness regarding the benefits of herbal products.

Competitive Analysis

The global market for the ayurvedic product has an intensely competitive landscape. The players in the market are working actively on developing new formulae. They are trying to integrate them with the present products to elevate the herbal and ayurvedic product line prices. The growing focus on R&D activities and rising technological innovations will likely boost the ayurvedic product market over the coming years. The list of prominent players in the global ayurvedic products market includes companies such as Planet Ayurveda (India), Basic Ayurveda (India), Patanjali Ayurved Limited (India), The Himalaya Drug Company (India), Herbal Hills (India), Natreon Inc (U.S.), Dabur India Ltd. (India), and several others.

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Recent Developments

• January 2022- Vedix, a customized Ayurveda beauty brand, announced its latest Onion range to treat various hair issues. A D2C beauty brand, the firm has been growing its product portfolio and, with the new one, has rolled out ten new products in the market.

• December 2021- Amway, a direct selling major, is seeking ways to improve Ayurveda-based and herbal products from India to Southeast Asian countries. The company is also operating to develop new products and discover preventive health, wellness, and nutrition to provide products in the wider food and beverages formats and not only as tablets have done in the past but develop partnerships as it has with FMCG leader ITC.
The firm had decided to export from its production site located close to Madurai in Tamil Nadu, where it invested approximately Rs 600 crore.

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This release was published on openPR.