Ayurvedic Market Witnesses Significant Growth, Projected to Reach USD 28.21 Billion by 2029

19-01-2024: Market Values:

The global Ayurvedic Market, valued at USD 10.21 billion in 2022, is projected to exhibit a remarkable Compound Annual Growth Rate (CAGR) of 15.63% from 2023 to 2029, reaching a substantial USD 28.21 billion by 2029.

Report Scope:

The Ayurvedic Market is experiencing substantial growth driven by increased consumer awareness of the adverse effects of allopathic treatments. The market's CAGR of 15.63% is fueled by factors such as the ease of product availability, rising awareness of product benefits, and the expansion of medical tourism. The comprehensive research report covers key market trends and factors for the forecast period.

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Research Methodology:

The report employs a robust research methodology, including a detailed analysis of market dynamics, drivers, restraints, and regional insights. A thorough investigation into the Ayurvedic industry is conducted, offering valuable insights for stakeholders. The report also incorporates PESTEL and PORTER analyses, along with a thorough study of key players in the market.

Market Dynamics:

Drivers:

The growing demand for natural and organic products, increased consumer knowledge, a preference for Ayurvedic cosmetics, and a surge in medical tourism contribute to the market's growth. The popularity of organic skincare and the anticipated expansion of anti-wrinkle and anti-aging cream segments are expected to drive further market growth.

Restraints:

Challenges such as a lack of optimal treatments, limited aggression in the Ayurvedic business, and stringent regulations pose significant limitations to overall market growth. However, technological advancements, breakthroughs in Ayurvedic treatment, and untapped potential in new markets present promising growth prospects.

Ayurvedic Market Segmentation :

Mode of Sales:

Retail Sale
Online Sale
Product:

Personal Care Products
Hair Care & Fragrances
Skin Care
Oral Care
Make-Up
Healthcare Products
Ayurvedic Medicines
Ayurvedic Nutraceuticals
Dietary Supplements
Application:

Cancer Treatments
Respiratory Disorders
Mental Health
Nervous System Disorders
Diabetes
Skin Diseases
Cardiovascular Diseases
Autoimmune Diseases
Other Applications
Distribution Channel:

Supermarkets
Pharmacy & Drug Stores
Direct Selling
Beauty Salons
Specialty Stores
Internet Retailing
Departmental Stores
Other Distribution Channels

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Ayurvedic Market Key Players

1. Zandu Pharmaceuticals Works Ltd
2. WELEX Laboratories Pvt. Ltd
3. Lotus Herbals
4. Khadi Natural
5. Surya Herbal Limited
6. Maxcure Nutracedics Ltd.
7. Shree Dhootapapeshwar Ltd.
8. AVA Products & Services
9. Vicco Laboratories
10.Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
11.Kerala Ayurveda Ltd.
12.Forest Essentials
13.Dabur India Ltd.
14.The Himalaya Drug Company
15.Patanjali Ayurved Limited
16.Hamdard Laboratories
17.Emami Ltd.
18.Charak Pharma Pvt. Ltd.
19.BACFO Pharmaceuticals Ltd.
20.Charak Pharma
21.Ayurvedic LifeStyles Inc.

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Table of content for the Ayurvedic Market includes:

Part 01: Executive Summary

Part 02: Scope of the Ayurvedic Market Report

Part 03: Global Ayurvedic Market Landscape

Part 04: Global Ayurvedic Market Sizing

Part 05: Global Ayurvedic Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia Pacific:

Leading the market with a 42% share in 2022, the Asia Pacific region is expected to grow at the highest CAGR of 9.1%. Increased consumer awareness, fueled by global players' marketing strategies, and thriving markets in India, China, and Australia contribute to the regional market's robust growth.

North America:

Securing the second-largest market share of 28% in 2022, North America anticipates market expansion, supported by continued investments in the foodservice and pharmaceutical industries. Research and development activities focus on creating innovative products appealing to diverse demographics, further enhancing market growth.

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