India Ayurvedic Products Market is Booming with a CAGR of 19.3% by 2028

IMARC Group, a leading market research company, has recently releases report titled "India Ayurvedic Products Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The study provides a detailed analysis of the industry, including the Indian ayurvedic products market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the India Ayurvedic Products Market?

The Indian ayurvedic products market size reached INR 626 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 1,824 Billion by 2028, exhibiting a growth rate (CAGR) of 19.3% during 2023-2028.

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Factors Affecting the Growth of the India Ayurvedic Products Industry:     

• Increasing Health Consciousness Among Consumers:

The Ayurvedic products market in India is experiencing growth largely due to an increasing awareness of health and wellness among consumers. People are progressively recognizing the long-term benefits of natural and herbal products, leading to a shift from synthetic to natural alternatives. This trend is particularly pronounced in the wake of the health crisis, where immunity and holistic well-being have taken center stage in health discussions. As consumers become more informed about the preventive and therapeutic benefits of Ayurvedic products, they are increasingly incorporating them into their daily routines. This growing health consciousness is not just limited to older generations but is also evident among younger demographics, who are actively seeking healthier lifestyles and natural wellness solutions.

• Government Initiatives and Support:

The Indian government is actively promoting the Ayurvedic industry, recognizing its potential in both domestic and international markets. Initiatives such as the 'Ayush' mission demonstrate the government's commitment to developing the traditional medicine sector, including Ayurveda. These initiatives include funding for research and development, support for Ayurvedic medicine manufacturers, and efforts to integrate Ayurveda into the mainstream healthcare system. Moreover, the government is also working on establishing international collaborations to boost the presence of Ayurvedic products in India. These efforts are aimed at standardizing and regulating Ayurvedic practices, enhancing their credibility and acceptance worldwide. This governmental support is a significant factor in the expansion of the Ayurvedic products market in India.

• Globalization and Export Potential:

The globalization of Ayurvedic products is a key factor driving market growth. With the increasing popularity of natural and alternative medicine worldwide, Ayurvedic products in India are finding a broader market overseas. There is a growing demand for these products, driven by consumers seeking natural health solutions. Indian manufacturers are capitalizing on this opportunity by expanding their global footprint, exporting a wide range of products from herbal supplements to personal care items. This international interest is not only increasing the visibility of Ayurvedic products but is also encouraging Indian companies to adhere to international quality standards, thereby enhancing the overall reputation of the Ayurvedic industry.

Leading Companies Operating in the India Ayurvedic Products Industry:

• Dabur India Ltd.
• Patanjali Ayurved Limited
• The Himalaya Drug Company
• Vicco Laboratories
• Charak Pharma Pvt. Ltd.
• Hamdard Laboratories
• Forest Essentials
• Emami Ltd.
• Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
• Kerala Ayurveda Ltd.
• Amrutanjan Healthcare Limited

Key Market Segmentation:

The report is organized into distinct sections as follows:

By Product Type:

• Healthcare Products
o Ayurvedic Nutraceuticals and Dietary Supplements
o Ayurvedic Medicines

• Personal Care Products
o Skin Care
o Oral Care
o Hair Care and Fragrances

By product type, healthcare products represented the largest segment due to the high demand for natural and holistic health solutions.

By Organized/Unorganized:

• Organized
• Unorganized

By organized/unorganized, organized represented the largest segment due to better quality assurance, brand recognition, and wider distribution networks.

Regional Insights:

• North India
• East India
• West and Central India
• South India

Region wise, North India emerged as the largest market, influenced by a strong traditional inclination towards Ayurvedic practices and a higher concentration of manufacturers and practitioners.

India Ayurvedic Products Market Trends:

The market growth of Ayurvedic products in India is primarily driven by an increasing awareness of health and wellness. The rich heritage rooted in ancient practices, Ayurveda appeals to those seeking natural and holistic treatment options. This surge in interest is bolstered by the Indian government's promotion of traditional medicines, both domestically and internationally. Additionally, the rising prevalence of lifestyle diseases and a growing preference for chemical-free products are significantly contributing to the market's expansion. The fusion of modern research with traditional knowledge is enhancing product efficacy, further attracting a health-conscious consumer base. This trend is supported by improved distribution channels, making Ayurvedic products more accessible to a wider audience.

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1279&flag=C

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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