Press release
Global Ayurvedic Market to Surpass USD 32 Billion by 2030
Ayurvedic Market
The global Ayurvedic market, valued at USD 11.80 billion in 2023, is projected to grow at a Compound Annual Growth Rate (CAGR) of 15.63% from 2024 to 2030, reaching approximately USD 32.62 billion by 2030. This growth is fueled by increasing consumer awareness of the adverse effects of allopathic treatments, a surge in demand for natural and organic products, and the expansion of medical tourism
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Competitive Landscape
Key players in the Ayurvedic market include Himalaya Wellness Company, Patanjali Ayurved, Dabur India Limited, Baidyanath Group, and Brihans Natural Products Ltd. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their global footprint and meet the rising demand for Ayurvedic products.
Regional Demand and Growth Patterns
The Asia-Pacific region dominates the global Ayurvedic market, driven by the presence of traditional medicine practices and increasing consumer preference for natural products. North America and Europe are witnessing significant growth due to rising awareness of holistic wellness and the integration of Ayurveda into mainstream healthcare.
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Country-Specific Insights
Vietnam: Growth in Herbal Medicine Adoption
Vietnam is experiencing growth in the adoption of herbal medicines, including Ayurvedic products, as consumers seek natural alternatives for health and wellness.
Thailand: Opportunities in Wellness Tourism
Thailand's wellness tourism sector presents opportunities for Ayurvedic product providers to cater to tourists seeking holistic health treatments.
Japan: Trends in Natural Skincare
Japanese consumers are increasingly embracing natural skincare products, leading to a rise in demand for Ayurvedic formulations that offer anti-aging and skin-enhancing benefits.
South Korea: Consolidation in Beauty Industry
South Korea's beauty industry is consolidating, with companies incorporating Ayurvedic ingredients into their product lines to meet consumer demand for natural and effective skincare solutions.
Singapore: Updation in Health Regulations
Singapore is updating its health regulations to accommodate traditional medicine practices, providing a conducive environment for the growth of Ayurvedic products in the market.
United States: Growth in Alternative Medicine
The United States is witnessing growth in the alternative medicine sector, with Ayurveda gaining popularity among consumers seeking holistic and preventive healthcare options.
China: Trends in Integrative Medicine
China's focus on integrative medicine is leading to increased interest in Ayurvedic practices, complementing traditional Chinese medicine and expanding the market for Ayurvedic products.
Europe: Opportunities in Natural Product Market
Europe's natural product market is creating opportunities for Ayurvedic brands to introduce herbal supplements and personal care items that align with consumer preferences for clean and sustainable products.
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Ayurvedic Market Segment Analysis:
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
Key Recent Developments
Puig, a Spanish fashion and beauty conglomerate, acquired a majority stake in Kama Ayurveda, an Indian beauty and wellness brand known for its Ayurvedic products. This acquisition aims to strengthen Puig's presence in the Indian market and facilitate Kama Ayurveda's expansion into global markets, such as the UK in early 2023.
In November 2023, the World Health Organization (WHO) signed an agreement with the Government of India and the Ministry of AYUSH to boost the development of traditional, complementary, and integrative medicine. This agreement aims to develop evidence-informed technical products to enhance the acceptability and credibility of traditional medicine systems, including Ayurveda.
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