Ayurvedic Products Market Size was valued at USD 11.2 Billion in 2022. The Ayurvedic Products market industry is projected to grow from USD 12.6 Billion in 2024 to USD 31.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.68% during the forecast period (2024 - 2032).Due to the ease of access and growing public awareness of the advantages of ayurvedic goods as well as the adverse effects of allopathic medications, are the key market drivers enhancing the market growth.
Product: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to growing public knowledge of the adverse effects of allopathic medicines, the market for ayurvedic products is expanding rapidly. A favourable impact element on market expansion is also being driven by the items' ease of availability and rising consumer knowledge of their benefits. Additionally, increasing medical tourism is assisting in the market's expansion. Growing consumer awareness, increased demand for ayurvedic cosmetics products, and an increase in medical tourism around the world are some of the factors propelling the market's expansion. The market for organic skincare products is expected to grow even more now that they are taking a firm hold. Anti-wrinkle and anti-aging creams are also anticipated to fuel market expansion in order to broaden the consumer base. Additionally, rising medical tourism across the globe is predicted to fuel the expansion of the Ayurvedic Products market. Positive growth chances are provided by the ongoing technological advancements, the use of ayurvedic medicine, and the unrealized potential of growing markets.
Ayurvedic products are becoming more popular among consumers, and this rising emphasis on appearance and looks is one of the factors that is anticipated to support market growth globally. The market is expanding as a result of rising demand for beauty products devoid of chemicals and rising consumer awareness of cruelty-free cosmetics. The sales of ayurvedic beauty products are anticipated to be impacted by the large rise in the influence of social media and beauty blogs that communicate the advantages of ayurvedic beauty products. In addition, regardless of skin tone, ayurvedic beauty products are appropriate for all skin types and come in a variety of goods like foundation, eye shadow, and lipstick.
Before the coronavirus pandemic broke out, the main market-movers were alterations in people's lifestyles, increases in disposable income, and escalating concerns about physical appearance. The market has, however, seen a fall in the first-quarter growth rate since the start of 2020. Consumer demand for beauty products has substantially decreased as a result of the financial crisis, and many cosmetic businesses have shut down their production facilities because to a labour shortage.
The market has been growing as a result of rising demand for ayurvedic substances that work as a natural cure for acne-related skin and hair issues. In order to increase their client base by luring consumers who are growing increasingly passionate about healthy, ayurvedic, and natural products, established market players have been concentrating on acquiring businesses in the natural beauty and personal care area. As part of its expansion strategy, Lotus Ayurvedic announced in June 2019 that it intended to purchase a firm that produces natural and ayurvedic beauty products. The business is in discussions with investment bankers to determine potential domestic or foreign targets for the same.Thus, driving the Ayurvedic Products market revenue.
The Ayurvedic Products market segmentation, based on Product, includes drugs, hair care products, health care products, oral care products, and others. Hair care products segment accounted for the largest revenue share in 2022. The drivers driving this segment's demand include changing consumption patterns and lifestyles, increased purchasing power among women, and growing consumer awareness of personal care items.
The Ayurvedic Products market segmentation, based on Distribution Channel, includes supermarkets, pharmacies, departmental stores, beauty spa/salon, and others. Supermarkets segment dominated the Ayurvedic Products market in 2022.Ayurvedic items or services are sold to clients through a variety of distribution channels in supermarkets in an effort to turn a profit. They meet demand that has been tracked down through a supply chain.
Figure 1: Ayurvedic Products Market, by Distribution Channel, 2024 & 2032 (USD Billion)
Product: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Ayurvedic Products market dominated this market in 2022 (45.80%). The demand for green label skincare cosmetics among consumers who are health aware is predicted to propel market expansion. The growing consumer preference for ayurveda and natural cosmetics offers key players a huge potential to serve the industry by introducing new ayurvedic goods. For instance, a number of businesses are introducing ayurvedic goods to fulfil the rising demand for cosmetics in Japan. As an illustration, Shahnaz Husain introduced a moisturising cream variation with a natural ayurvedic composition enhanced with dates, honey, and rose water distillate, which offers the highest amount of nourishment. Rose water maintains the skin's hydration and aids in the healing process. Moreover, China’s Ayurvedic Products market held the largest market share, and the Indian Ayurvedic Products market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AYURVEDIC PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)
Product: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Ayurvedic Products Market is expected to register significant growth from 2024 to 2032. The market in the region has been driven by rising consumer demand for green label items and their willingness to pay higher costs for goods made with natural components.Further, the U.S. Ayurvedic Products market held the largest market share, and the Canada Ayurvedic Products market was the fastest growing market in the North America region.
Europe Ayurvedic Products market accounted for the healthy market share in 2022.The demand for ayurvedic items is rising as consumers' preferences for natural products change. The demand for Ayurvedic plants, herbal products, and medications has increased concurrently. Further, the German Ayurvedic Products market held the largest market share, and the U.K Ayurvedic Products market was the fastest growing market in the European region.
Ayurvedic Products Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Ayurvedic Products market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Ayurvedic Products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Ayurvedic Products industry to benefit clients and increase the market sector. In recent years, the Ayurvedic Products industry has offered some of the most significant advantages to medicine. Major players in the Ayurvedic Products market, including Emami Limited, Charak Pharma Pvt. Ltd., Vicco Laboratories, Patanjali Ayurved Limited, Leverayush, Dabur India Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., and Himalaya Drug Company, are attempting to increase market demand by investing in research and development operations.
Products for ayurveda and natural healthcare are developed, marketed, and sold by Dabur India Ltd (Dabur), a division of Burman Family Holdings. Health supplements, digestive aids, cough and cold syrups and drops, energizers, women's health, and baby care products are among the company's product offerings. Additionally, it provides various ethical products like room fresheners, fruit juices, beverages, toothpaste, toothpowder, moisturising creams & lotions, hair oils, shampoos, and shampoos. Dabur sells its goods under the brand names Vatika, Hajmola, Dabur Amla, Odonil, and Odomos. The company sells its full line of goods through organised retail chains, online marketplaces, and niche distribution channels like beauty shops, chemists, and ayurvedic chemists. India, the Middle East, Africa, South Asia, the US, and Europe are among places where it conducts business. India's Uttar Pradesh state is home to Dabur's corporate headquarters. Eight new Ayurveda-based baby care products were introduced by Dabur in August 2020, and they are only accessible on the online retailer Amazon.
Women's skincare products are available from Lotus Herbals. The company provides solutions to the skincare issues of its customers by offering a broad range of beauty items, including skincare, anti-aging, skin whitening, and makeup. The increased demand for natural and organic beauty products was the focus of Lotus Herbals' introduction of the premium clean beauty brand Lotus Botanicals in March 2021. This newest brand, which is based on components like red onion and ginger root, is both vegan and cruelty-free.
Key Companies in the Ayurvedic Products market include
Ayurvedic Products Industry Developments
February 2022:The research group at Zeon Lifesciences has created a variety of ayurvedic formulations using science-based botanical medicines for the multifaceted prevention and treatment of cancer. In April 2022, the business said it would introduce its first anti-cancer and pro-immunity medicine.
May 2020:The "Dabur Kovi Rakshak Kit," a collection of tried-and-true Ayurvedic medicines that aid in a quicker recovery from persistent respiratory infections, was introduced by Dabur India Limited. Based on recommendations from the Indian Council of Medical Research (ICMR) and following a thorough examination of affected individuals, the Dabur KoviRakshak Kit was created and released.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 11.2 Billion |
| Market Size 2024 | USD 12.6 Billion |
| Market Size 2032 | USD 31.8 Billion |
| Compound Annual Growth Rate (CAGR) | 12.68% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Emami Limited, Charak Pharma Pvt. Ltd., Vicco Laboratories, Patanjali Ayurved Limited, Leverayush, Dabur India Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., and Himalaya Drug Company |
| Key Market Opportunities | Globalization of ayurvedic products |
| Key Market Dynamics | The rising awareness among the population about the side effects of allopathic medicines and the ease of availability and growing awareness about the benefits of the ayurvedic products |
Frequently Asked Questions (FAQ) :
The Ayurvedic Products market size was valued at USD 11.2 Billion in 2022.
The market is projected to grow at a CAGR of 12.68% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the market
The key players in the market are Emami Limited, Charak Pharma Pvt. Ltd., Vicco Laboratories, Patanjali Ayurved Limited, Leverayush, Dabur India Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., and Himalaya Drug Company
The Hair Care Products Product dominated the market in 2022.
The Supermarkets Distribution Channel had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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