Ayurvedic Herbs Market Expected to Reach $21.6 Billion by 2028, Says Allied Market Research

Allied Market Research projects a significant growth trajectory for the Ayurvedic Herbs Market, anticipating a CAGR of 10.8% from 2021 to 2028. Increased health consciousness and a robust distribution network drive the market, offering a lucrative $12 billion incremental revenue opportunity from 2020 to 2028.

According to a new report published by Allied Market Research, titled "Ayurvedic Herb Market by Herb type, Form, Disease Indication, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2028,"

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/12359

The global Ayurvedic herbs market was valued at $9.5 billion in 2020 and is anticipated to reach $21.6 billion by 2028, with a CAGR of 10.8% during the forecast period. The market is expected to exhibit an incremental revenue opportunity of $12 billion from 2020 to 2028. The Ayurvedic herb market's growth is propelled by rise in consumer health consciousness and improved distribution network. Consumers are prepared to pay more for those products that provide health advantages, and this awareness is expected to be a driver for the development of the development of the Ayurvedic herbal products market. Ayurvedic Herbs and its products are still in nascent stages in various western countries, such as Argentina, Canada, and Peru, along with other developing regions. These are still untapped, which present lucrative Ayurvedic herbs market opportunities for manufacturers of Ayurvedic herbs products.

Growing attention to alternative medicine is creating opportunities and Ayurvedic herbs market trends for the natural ingredients in coming years. There is an opportunity for suppliers of natural ingredients in developing countries, especially since some ingredients are not grown in Europe. Turmeric, for example, is indigenous to South Asia and is now finding applications in supplements and in medical products. Like turmeric, many other botanicals and essential oils used in natural health products simply cannot be grown in Europe.

According to the Ayurvedic Herbs market analysis, the market is segmented on the basis of herb type, form, disease indication, distribution channel, and region. Based on herb type, the market is categorized into Withania Somnifera (Ashwagandha), Frankincense (Boswellia), Indian Gooseberry (Triphala), Bacopa Monnieri (Brahmi), Turmeric, Cumin, Bitter Melon, and Others.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A11994

Withania Somnifera (Ashwagandha) are widely used globally and is one of the prime herb types for Ayurvedic herbs; thus, it is expected to influence the overall Ayurvedic herbs industry. The Withania Somnifera segment was valued at $2.3 billion and is expected to grow with a CAGR of 10% from 2021 to 2028, reaching $5.0 billion by 2028.

By form, the capsules/tablets segment held a major Ayurvedic herbs market share in 2020 and is expected to remain dominant throughout the forecast period. This is due to the rise in consumer demand for healthy and clean-label herbal products.

Based on disease indication, the skin diseases segment held a major share of the Ayurvedic herbs market in 2020. This is attributed to rise in spending on Ayurvedic products and herbs for the treatment of the skin.

The business-to-consumer channel, including the hypermarkets and supermarkets segment, was the leading channel with maximum share in 2020, growing with significant CAGR during the Ayurvedic herbs market forecast period. This is attributed to increase in retail sales in different regions and availability of large shelf space for maximum sales.

Region-wise, Asia-Pacific was the most prominent region in 2020, garnering maximum share of the Ayurvedic herbs market owing to huge consumer base and increase in population. Moreover, the region hold the major share owing to rich tradition of herbal medicine led by India, Sri Lanka, Pakistan, and Indonesia, among others.

𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/A11994

The key players profiled in this report include Colgate-Palmolive Company, Dabur India Ltd., Emami Limited, Kairali Ayurvedic Group, P&G, Patanjali Ayurved Limited, Shahnaz Ayurveda Pvt. Ltd, Shree Baidyanath Ayurveda Bhawan Pvt. Ltd, The Himalaya Drug Company, and Unilever.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐅𝐢𝐧 𝐅𝐢𝐬𝐡 𝐌𝐚𝐫𝐤𝐞𝐭

• Based on herb type, The Withania Somnifera segment was valued at $2.3 billion and is expected to grow with a CAGR of 10% from 2021 to 2028, reaching $5.0 billion by 2028.

• Based on form, Extracts segment witnessed a major annual growth rate of 10.9%.

• Based on disease indication, skin diseases held the majority and is expected to remain dominant throughout the forecast period.

• Based on distribution channel, business-to-consumer held the major share of 64.9% in 2020.

• Region-wise, North America witnessed a major annual growth rate of 11.5%.

𝐁𝐔𝐘 𝐍𝐎𝐖 : https://www.alliedmarketresearch.com/checkout-final/99c40190ff6929e10e8ef4486ba6940e

Contact

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (toll-free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/food-and-beverages
Follow Us on Blog: https://www.dailyreportsworld.com/

About Us

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

We have professional corporate relations with various companies, and this helps us dig out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.