According to a new market report published by Stratistics MRC the Global Ayurvedic market accounted for $3,428.0 million in 2015 and is expected to reach $9,791.0 million by 2022 growing at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. Increasing demand for natural and organic products is influencing the market. Ayurveda and its products are becoming popular with increasing demand the world over. The pressure of the people of the respective countries to adopt Ayurvedic product has amounted to many countries now allowing and regularizing sale of these products in to their countries. Moreover, organic skincare products are achieving fast grip and the market is anticipated to expand even further. In addition to expanding consumer base, anti-ageing and anti-wrinkle creams are anticipated to fuel the market growth.
Global Ayurvedic market is segmented by mode of sale into retail sale and online sale. Among Mode of sale, retail sale accounted for highest market share. Mass media, posters and banners and retail stores are the prime sources of information about herbal products and brands. The purchase of herbal products takes place at a retail stores and medicines shop for the majority of the brand. Some herbal brands are also purchased at various medicine shops like Himalaya and Dabur. Consumers generally consider all herbal products comparable in attributes. The purchase of herbal products is proportionate to the availability of products at a retail store.
Global Ayurvedic market is segmented by product into personal care products and healthcare products. By Products, personal care products acquired the highest market share. Rising awareness of personal care products, growing disposable incomes, changes in consumption patterns and lifestyles, and improved purchasing power of women, promises exciting times for the personal care industry. These trends are anticipated to boost the personal care market in India and raise the consumption of personal care products and services, thereby offering extensive opportunities for domestic and international players.
Browse the full report at “Global Ayurvedic Market
Global Ayurvedic Market is segmented by application into cancer treatments, respiratory disorders, mental health, nervous system disorders, diabetes, skin diseases, cardiovascular diseases, autoimmune diseases and other applications. In applications, diabetes segment commanded the largest market share. The number of people suffering from diabetes all over the world is increasing progressively. Diabetes mellitus (DM) in Ayurveda is referred to as Madhumeha or Kshaudrameha, which literally means excessive urine with sweet taste like honey. “Diabetes”, considered still as a mystery disease, is fast becoming a global problem. While quoting on incidental rate of diabetic population, in India, diabetics exceed 10 million undetected cases of diabetics in addition. In other countries like Japan and Canada the rate of incidence is 50 out of 1000, while in U.K it is 15 out of 1000. In U.S.A there are about 5 to 6 million diabetics. Moreover about 6 percentage of the population is subjected to the attack of the disease annually. The Ayurvedic Pharmacopoeia of India is especially rich in herbal treatments for diabetes.
Global Ayurvedic Market is segmented by distribution channel into supermarkets, pharmacy & drug stores, direct selling, beauty salons, specialty stores, internet retailing, departmental stores and other distribution channels. Amongst distribution channel, internet retailing registered highest market share. Internet Retailing is increasing at a very rapid pace with the increase in the awareness of people about internet usage, increase in the number of personal computers, and last but not the least, increasing incomes of the young population.
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America acquired the highest market share in the global market. Ayurvedic resorts located in remote locations in the US or the most scenic paradises in India provide the most expensive and elaborate commoditization of Ayurveda. US have stringent rules for the imported products that are used for consumption. These medicines are not exported under the category of medicines but find their way in US market as food supplements and herbal products. In US, Ayurveda is having a very high commercial potential and the Panchkarma therapy is practiced widely. In addition, Europe has registered a significant growth in the market. In the recent years, there is a wide increase in the awareness about Ayurveda in thus region. About 150 Ayurvedic doctors are practicing in UK irrespective of the hostile attitude of the Government to recognize Ayurveda as a medical system with independent status.
Some of the key vendors in this market include Amrutanjan Healthcare Limited, Zandu Pharmaceuticals Works Ltd., WELEX Laboratories Pvt. Ltd , Lotus Herbals, Khadi Natural, Surya Herbal Limited , Maxcure Nutracedics Ltd., Shree Dhootapapeshwar Ltd., AVA Products & Services, Vicco Laboratories, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Kerala Ayurveda Ltd., Forest Essentials, Dabur India Ltd., The Himalaya Drug Company, Patanjali Ayurved Limited, Hamdard Laboratories, Emami Ltd., Charak Pharma Pvt. Ltd., BACFO Pharmaceuticals Ltd., Charak Pharma and Ayurvedic LifeStyles Inc.
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