Press release
Ayurvedic Market Poised for Remarkable Growth: Regional Trends and Developments
Ayurvedic Market
The global Ayurvedic market is experiencing significant expansion, driven by increasing consumer preference for natural and holistic health solutions. Valued at approximately USD 11.80 billion in 2023, the market is projected to reach USD 32.62 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 15.63% during the forecast period.
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Competitive Landscape
The Ayurvedic market is characterized by a diverse range of players striving to strengthen their market presence through strategic initiatives such as collaborations, mergers, acquisitions, and product innovations. Prominent companies operating in this sector include Dabur India Limited, Patanjali Ayurved Limited, Emami Limited, Himalaya Drug Company, and Zandu Pharmaceuticals.
Ayurvedic Market Dynamics
Regional Insights
Ayurvedic Opportunities in the United States
The United States is witnessing a growing interest in natural remedies, propelling the Ayurvedic market forward. The adoption of Ayurvedic medicine and supplements among U.S. adults increased from 0.7% to 1.6% between 2012 and 2022, indicating a significant shift toward natural health treatments. Additionally, sales of Ayurvedic herbs, such as turmeric and ashwagandha, saw a 25.6% growth in mainstream U.S. channels in 2023.
Ayurvedic Growth in Asia Pacific
Asia Pacific, particularly India, remains the largest market for Ayurvedic products and therapies. The region's deep-rooted cultural significance of Ayurveda, coupled with increasing consumer awareness of natural healthcare, is driving market growth. The Export-Import Bank of India reported a 45% increase in Ayurvedic and herbal product exports to other Asia-Pacific nations between 2019 and 2023, totaling USD 1.5 billion.
Ayurvedic Trends in Europe
Europe is experiencing a surge in demand for natural and organic products, including Ayurvedic solutions. The market is expected to reach €12.2 billion by 2027, reflecting the growing consumer inclination toward holistic health approaches.
This trend is further supported by the increasing availability of Ayurvedic products across various distribution channels, including specialty stores and online platforms.
Ayurvedic Consolidation in the Middle East and Africa
The Middle East and Africa are witnessing a gradual acceptance of Ayurvedic practices, with a focus on integrating traditional medicine into modern healthcare systems. Companies like Macbiosciences are contributing to the market's growth in these regions.
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Region-Specific Mergers, Acquisitions, and Key Developments
United States
In the United States, the increasing popularity of natural remedies has led to a rise in the integration of Ayurvedic principles into naturopathic practices. A 2023 study by the American Association of Naturopathic Physicians indicated that 42% of naturopathic doctors now incorporate Ayurvedic concepts into their treatments, up from 28% in 2018.
Asia Pacific
The Asia Pacific region has seen significant mergers and acquisitions aimed at expanding the Ayurvedic market. In November 2022, Mankind Pharma, an Indian pharmaceutical company, acquired a majority stake in Upakarma Ayurveda Private Limited, a manufacturer of Ayurvedic and herbal products. This acquisition aims to expand Upakarma Ayurveda's range of products and services by utilizing Mankind Pharma's strong distribution network.
Europe
European markets are experiencing growth in the Ayurvedic sector, with companies focusing on innovative product lines to cater to the increasing demand for natural healthcare solutions. The market's expansion is supported by a growing consumer base seeking alternative and complementary therapies.
Middle East and Africa
In the Middle East and Africa, the Ayurvedic market is gradually expanding, with companies like Macbiosciences contributing to the region's growth. Efforts are underway to integrate traditional Ayurvedic practices into modern healthcare systems, aiming to provide holistic health solutions to the population.
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Ayurvedic Market Segmentation
by Mode of sales
Retail Sale
Online Sale
by Product
Personal Care Products
Hair Care & Fragrances
Skin Care
Oral Care
Make-Up
Healthcare Products
Ayurvedic Medicines
Ayurvedic Nutraceuticals
Dietary Supplements
by Application
Cancer Treatments
Respiratory Disorders
Mental Health
Nervous System Disorders
Diabetes
Skin Diseases
Cardiovascular Diseases
Autoimmune Diseases
Other Applications
by Distribution Channel
Supermarkets
Pharmacy & Drug Stores
Direct Selling
Beauty Salons
Specialty Stores
Internet Retailing
Departmental Stores
Other Distribution Channels
Ayurvedic Market Key Players
North America
1. Ayurvedic LifeStyles Inc.
2. NutraIngredients-USA
3. americanayurveda
4. Maharishi AyurVeda Products International, Inc.
Europe
5. uniliver (lever ayush)
APAC
6. Zanducare
7. welex laboratories pvt. ltd
8. Khadi Natural
9. Surya Herbal Limited
10. Shree Dhootapapeshwar Ltd.
11. Vicco Laboratories
12. Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
13. Forest Essentials
14. Dabur India Ltd.
15. Patanjali Ayurved Limited
16. Hamdard Laboratories
17. Emami Ltd.
18. BACFO Pharmaceuticals Ltd.
19. Charak Pharma
20. The Himalaya Drug Company
21. Herbal Hills
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