Ayurvedic Products Market 2022 - Market Size & Forecast, Industry
Trends, Manufacturers Analysis, & Opportunities 2030
Page: 384 | Report Code: CG22130602 | Research Suite: Report (PDF) & Market Data (Excel)
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Ayurvedic products typically comprise personal care and healthcare
products that are used for different medical treatments. These products have
very few adverse effects and assist in the detoxification of the toxic poisons
present in the body. The global ayurvedic products market includes players
engaged in developing and launching various products, including ayurvedic
medicines, ayurvedic nutraceuticals, dietary supplements, skincare, make-up, oral
care, hair care, and fragrance products. The ayurvedic products market is
projected to flourish at a compounded annual growth rate (CAGR) of 13.5% during
the forecast period of 2022-2030.
Growth Drivers:
Governments
across major developing regions across the globe, especially India, are putting
increased efforts into encouraging the usage of various ayurvedic products.
They are offering subsidies and are also launching several awareness programmes
to raise their adoption. Moreover, the overall distribution network of
ayurvedic products has enhanced robustly, thereby improving the accessibility
of these products across both the urban and rural regions. Also, per capita
expenditures of people on healthcare products have also witnessed a tremendous
surge over the last few years, mainly due to growing disposable incomes and
economic growth. All these factors are primarily driving the growth of the
global ayurvedic products market.
Moreover, the
leading market players present in the ayurvedic product market are increasingly
focusing on developing and introducing innovative ayurvedic products to compel
and attract a more extensive set of consumers. They are also emphasizing generating
awareness among consumers regarding the benefits of these products, which is
slated to bode tremendously well for the global ayurvedic products market in
the upcoming years.
Furthermore,
the enhancing global demand for natural and organic products, the growing
medical tourism industry across the globe, the escalating health concerns and
awareness pertaining to the side-effects of western medicines, the
proliferating demand for ayurvedic cosmetics products, the burgeoning usage of
traditional techniques for medical purposes, the increasing number of working
women and their preference for chemical-free ayurvedic cosmetics, and the
rising number of research activities & collaborations among ayurvedic
organizations & companies are among other major factors contributing to the
growth of the global ayurvedic products market.
However, the
dearth of stringent regulations and optimum treatments in the ayurvedic
industry are expected to hinder the growth of the global market to a certain
extent during the forecast period of 2022-2030.
Ayurvedic Products Market Segmentation:
By Product Type:
·
Personal Care Products
o
Hair Care & Fragrances
o
Skin Care
o
Oral Care
o
Make-Up
·
Healthcare Products
o
Ayurvedic Medicines
o
Ayurvedic Nutraceuticals
o
Dietary Supplements
By Mode of Sales:
·
Retail Sale
·
Online Sale
By Market Type:
·
Organized
·
Unorganized
By Application:
·
Cancer Treatments
·
Respiratory Disorders
·
Mental Health
·
Nervous System Disorders
·
Diabetes
·
Skin Diseases
·
Cardiovascular Diseases
·
Autoimmune Diseases
·
Other Applications
By Distribution Channel:
·
Supermarkets/Hypermarkets
·
Specialty Stores
·
Pharmacy Stores
·
Convenience Stores
·
E-commerce
·
Others
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Ayurvedic
Products Market: Product Type Review:
Based on product type, the
global ayurvedic products market is segmented into personal care products and
healthcare products. The personal care products segment captured the largest
share of the market in 2021, and this trend is expected to continue throughout
the forecast period of 2022-2030. The
surging awareness regarding personal care products and consumers' rapidly
changing lifestyles and consumption patterns are predominantly ascribed to the
large share of the personal care products segment.
Ayurvedic
Products Market: Distribution Channel Review:
Based on distribution
channel, the global ayurvedic products market is classified into supermarkets/hypermarkets,
specialty stores, pharmacy stores, convenience stores, e-commerce, and others.
The supermarkets/hypermarkets segment led the market in 2021. The segment is
estimated to retain its dominance further in the market during the forecast
period of 2022-2030. The increasing number of supermarkets/hypermarkets
across the globe and the easy availability of a wide variety of well-sought
products in these markets are among the major factors driving the high growth
of this particular segment.
Regional Outlook:
The ayurvedic products research report offers detailed
analysis and forecasts for five major regions: North America, Europe, Asia
Pacific, and Latin America, and the Middle East & Africa.
The Asia Pacific region commanded the largest share of
the global ayurvedic products market in 2021, followed by Europe and North
America. The region is predicted to maintain its lead further in the market
during the forecast period of 2022-2030. Major factors attributable to the
large share and high growth of the market in the region include the increased
adoption and popularity of ayurvedic products, the presence of well-established
ayurvedic manufacturing units and an expanding traditional medicines industry,
the rising exports of ayurvedic products to major parts of the globe, the
proliferating demand for herbal and natural healthcare products, the growing
urbanization, the escalating innovations by manufacturers, and the
ever-increasing large consumer base in the region. India, Indonesia, Myanmar,
Sri Lanka are the leading contributors to the market in the Asia Pacific
region.
The European region is anticipated to experience
significant growth during the forecast period owing to is expected to have the
second-largest share in the global Ayurvedic medicines market throughout the
forecast period due to the elevating awareness and interest among people
regarding India’s cultural customs & traditions, including ancient Sanskrit
based ethnobotanical medicine scriptures.
The report also identifies the country market outlook
for ayurvedic products, covering country-wise market size, growth rate, market
share, segmentation, leading players, current trends, and opportunities.
Key Companies in Ayurvedic Products Market:
The research
report offers a competitive analysis of prominent companies operating in the
global ayurvedic products market. Some of the leading players profiled in the
market research report include:
·
Dabur India Ltd.
·
The Himalaya Drug Company
·
Natreon Inc.
·
Emami Group
·
Maharishi Ayurveda
·
Baidyanalh
·
Shahnaz Husain Group
·
Vicco Laboratories
·
Amrutanjan Healthcare
·
Charak Pharma
·
Botique
·
Patanjali Ayurved Limited
·
Basic Ayurveda
·
Herbal Hills
·
Planet Ayurveda
· Other Players