Ayurvedic Products Market Application, Share And Trends Analysis By Product-Type (Personal Care, Healthcare, Others), By Specialty Attribute (Organic, Vegan, Gmo-Free, And Others), By Distribution Channel (Store Based (Supermarket/Hypermarket, Specialty Stores, Drug-Stores, Convenience Stores, Others), Non-Store Based (E-Commerce), And By Region Forecast To 2023
Global Ayurvedic Products Market Overview
As mentioned in the latest report published by Market Research Future (MRFR), the Global Ayurvedic Products Market is estimated to witness a 4.2% CAGR during the forecast period. Many factors are influencing a significant rise in the growth rate between 2017-2023.
Ayurvedic Products are generally used in personal care and healthcare products. Ayurvedic products originated from India, and thus, the concentration of ayurvedic product suppliers is the highest in the country.
Increasing adoption of traditional methods for medicinal purposes is observed to cause a significant boost in the global ayurvedic products market. With a rise in the working woman population, rising disposable income, and a growing inclination towards chemical free and herbal cosmetics are some of the primary factors contributing to the ascension of the global ayurvedic market. Apart from personal care, ayurvedic healthcare products are widely used to cure asthma, hypertension, allergies, nervous disorders, insomnia, and inflammation. Such a wide scope of application is bound to promote noticeable growth in the global ayurvedic products market.
The Global Ayurvedic Products Market has been segmented into product type, specialty attributes, distribution channel, and region. On the basis of product type, the global ayurvedic products market is segmented into healthcare and personal care. Among the two, the healthcare products segment is likely to garner a larger share of the global ayurvedic products market. Such market command can be attributed to the growing consumer preference of natural and side-effect free treatments, in contrast to western medicine.
Based on specialty attributes, the global ayurvedic products market is segmented into GMO-free, organic, and vegan. The organic segment is anticipated to lead the global ayurvedic products market through the forecast period. This can be accredited to the mounting awareness of the health benefits of organic medicine and organic skincare products.
Based on distribution channel, the global ayurvedic products market is segmented into supermarket/hypermarket, drugstores, convenience stores, specialty stores, and e-commerce. While the sale through drug stores is growing at a significant rate, the supermarket/hypermarket segment is expected to hold the biggest share in the global ayurvedic products market.
Detailed Regional Analysis
The Global Ayurvedic Products Market is regionally segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). Asia Pacific is assessed to hold the largest share in the global ayurvedic products market during the conjectured timeline. North America is estimated to follow Asia Pacific and hold the second largest market share for ayurvedic products. High demand for ayurvedic products owing to increasing disposable income in the developed countries present in Asia Pacific and North America are promoting heavy ascension in the ayurvedic products market. Some of the major importer nations for ayurvedic products include the U.S., Germany, China, France, and Canada. Economic growth and developed trading channels are driving the ayurvedic products market in these countries.
The Global Ayurvedic Products Market has many prominent players including
- Natreon Inc (U.S.)
- Dabur India Ltd. (India)
- Patanjali Ayurved Limited (India)
- The Himalaya Drug Company (India)
- Basic Ayurveda (India)
- Herbal Hills (India)
- Planet Ayurveda (India)
CESC Ventures will acquire a major stake in Herbolab India Pvt. Ltd., an ayurvedic medicines and products manufacturing company under the brand name ‘Dr Vaidya.’ Such an investment in Herbolab by the Sanjiv Goenka Group will enable the expansion of the company’s existing product portfolio and bring synergies.
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