With increasing awareness, the demand for Ayurvedic products is steadily increasing across the globe. Shrawan DagaAccording to the CEO of Jodhpur-based Krishna’s Herbal & Ayurveda, around 80 percent of people in India now use Ayurveda in their daily lives.
He said that as per studies, the Ayurveda market is projected to reach Rs 57,450 crore to Rs 1.2 trillion by FY28. The importance of the Ayurveda industry is multi-faceted.
In an exclusive interview with BizBuzz, he said, “Culturally, Ayurveda is an integral part of the Indian lifestyle, influencing daily health habits and preventive medicine. Moreover, the increasing market size and growth rate globally indicates that Ayurveda is being accepted and integrated into the international mainstream healthcare and wellness system, promoting traditional knowledge and practices.”
How do you see the growth potential of Ayurvedic products?
According to recent data, the market size is estimated to grow by $7.19 billion between 2023 and 2028, at a compound annual growth rate (CAGR) of 16.01%.
What are the threats faced by true entrepreneurs due to some low quality products being circulated by some unscrupulous businessmen?
Currently, thousands of companies manufacture Ayurvedic products in India, most of them small scale, including numerous neighborhood pharmacies that compound ingredients to make their own remedies. However, one of the main challenges that true entrepreneurs face is losing consumer trust. When customers encounter ineffective or harmful products, it can erode trust in Ayurveda as a whole and affect the reputation of authentic brands. After the pandemic, people are more health conscious than ever, and they now want complete visibility into the ingredients and other information of the products they are consuming. Moreover, the existence of substandard products often leads to increased regulatory scrutiny and stricter compliance requirements, increasing operational costs and complexity, especially for small and medium-sized businesses.
Is there a regulatory body in India to check quality and efficacy?
Yes, the primary regulatory body is the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homeopathy). This ministry was established on November 9, 2014 with the objective of promoting education, research and dissemination of indigenous alternative medical systems in India. Apart from this, CCIM (Central Council of Indian Medicines) is a statutory body under the Ministry of AYUSH which regulates the education and practice standards of Indian systems of medicine including Ayurveda. Through these regulatory bodies and frameworks, India aims to ensure that Ayurvedic products meet high standards of quality and efficacy, safeguarding the health of consumers and upholding the integrity of traditional medical practices.
What inspired you to enter the Ayurvedic industry and how do you see the role of traditional practices in modern healthcare?
We stepped into the Ayurvedic industry because we were deeply influenced by the alarming rise in lifestyle related diseases. Modern life has brought about drastic changes in our daily lives, giving rise to numerous health issues such as diabetes, hypertension, obesity etc. We realised that there was an urgent need for holistic and sustainable healthcare solutions to address these issues.
Founded in 2007, Krishna’s Herbal & Ayurveda was born from a vision to bring Ayurveda into every home so that everyone can benefit from it. Our mission is to seamlessly integrate Ayurveda into everyday life to promote a healthier, disease-free society. In doing so, we aim to bridge the gap between traditional practices and modern healthcare, demonstrating that Ayurveda is not only relevant but essential in the pursuit of holistic health.
Can you elaborate on the importance of Ayurveda from a healthcare perspective, especially in light of the COVID-19 pandemic?
We have always championed the principles of Ayurveda, which was one of the first systems of medicine to emphasise the importance of prevention over cure. During the pandemic, when conventional medicine faced unprecedented challenges, many people turned to Ayurvedic remedies for support. In particular, Giloy is widely used for its antiviral properties and Turmeric (Haldi) is known for its powerful antibiotic effects. These natural substances provided much-needed relief and support at a time when all uk medicines had lost hope. Moreover, the government’s keen efforts in promoting the AYUSH sector indicate a growing awareness of the value of traditional medicine.
At Krishna’s Herbal & Ayurveda, we strive to integrate these proven practices into mainstream healthcare and play a key role in our collaborative efforts towards improving public health.
Can you explain some of the key Ayurvedic principles that guide the formulation and manufacturing of your products?
The formulation and manufacturing of our products is deeply rooted in the ancient principles of Ayurveda. We strictly follow classical formulations, which are traditional formulas that have been passed down through generations and carefully recorded in the ancient Ayurvedic texts known as Shastras. All our products are manufactured in accordance with Shostroth Prakriya, using the exact procedures and methods prescribed in these texts. Apart from this, we prioritize the use of fresh herbs in our formulations, capturing the full spectrum of their natural benefits. Unlike many modern supplements that rely on extracts and synthetic ingredients, we use whole herbs to keep our products as natural as possible, enhancing their effectiveness and safety. In line with our commitment to purity, we do not use any synthetic ingredients. This is in line with the Ayurvedic philosophy of utilizing natural holistic ingredients to promote health and well-being.
Being a departure from your family’s traditional steel processing business, how did you navigate the transition into the Ayurvedic industry?
My family’s transition from the traditional steel processing business to the Ayurveda industry was a journey driven by a deep-rooted desire to go beyond the metal industry and make a meaningful impact in the healthcare sector. The mid-2000s was also a time of change in the Ayurveda industry, with many people like Baba Ramdev reintroducing traditional yoga practices, bringing Ayurveda back into the limelight, increasing its exposure and popularity. Recognizing the rapid growth in the healthcare sector and the urgent need for holistic and preventative health solutions, I felt compelled to explore this new and challenging field. With the growing demand for natural and effective healthcare alternatives, it was clear that Ayurveda was the need of the hour. My inquisitiveness and drive to innovate led to the founding of Krishna’s Herbal & Ayurveda in 2007.
What makes Krishna’s herbal and Ayurvedic products different from others in the market? How do you ensure the quality and efficacy of your Ayurvedic formulations?
Our strong commitment to quality, purity and authenticity differentiates our products from other beekeeping products on the market. We adhere to the highest standards of quality control to ensure each product meets our strict specifications. Our state-of-the-art in-house microbiology and quality control (QC) laboratories are equipped with advanced technology to perform thorough testing at every stage of production. This ensures that our products are free of contaminants and meet strict quality standards.
Additionally, our formulations use only pure herbs, not extracts, which ensures that our products retain the full spectrum of natural compounds found in the herb, delivering the holistic effects nature intended. Finally, our careful approach to quality and dedication to maintaining Ayurvedic authenticity ensures that our customers receive products that are not only safe and effective, but also true to the timeless wisdom of the Ayurvedic tradition.
How do you keep up to date with the latest developments and research in the field of Ayurveda and how has this impacted your product offering?
Staying up to date with the latest developments and research in the field of Ayurveda is one of my top priorities. In this regard, the government has recently launched the “SMART” (Scope of Mainstreaming Ayurvedic Research in Educational Professionals) program, which aims to promote scientific research in priority medical research. To stay up to date, we meet with doctors and Ayurvedic practitioners on a regular basis. These interactions help us understand current health needs and trends and ensure that our products meet the evolving demands of our customers. Moreover, we are continuously engaged in rigorous research and development (R&D) to innovate and improve our products. Also, I serve as the President of the Rajasthan Ayurvedic Manufacturers Association, which puts me in close contact with advancements from both the government and private sector. Moreover, it is new research findings and emerging market demands that help us stay at the forefront of regulatory changes.
What do you think makes Krishna’s Herbal & Ayurveda different from other brands in the market in terms of product quality, innovation and customer satisfaction?
When it comes to product quality, innovation and customer satisfaction, we have our own manufacturing facility, which gives us full control over the production process and ensures the highest standards of quality. There is no compromise on our quality control (QC) standards. All our products undergo rigorous testing to meet exacting specifications. Our formulations are rooted in classical Ayurvedic traditions and developed with the expertise of a dedicated team of physicians. This ensures that our products are not only authentic, but effective and deliver the therapeutic benefits our customers expect. We also work closely with agricultural scientists to educate the farmers who produce our raw materials, ensuring that the herbs and plants we use are grown and harvested using best practices.
What were the main challenges you faced in the early stages of your business and how did you overcome them?
We faced major challenges initially, the main one being the lack of awareness about Ayurveda in general. Starting a brand from scratch with just one product and a modest investment of Rs 3,000 was tough. Rapidly changing market trends also posed a major hurdle, forcing us to constantly adapt and innovate. Despite these challenges, our drive and tenacity to overcome obstacles were crucial factors in our success. We embarked on a mission to educate people about the benefits of Ayurveda, leveraging every opportunity to create awareness. With persistent efforts and a strong commitment to our vision, Krishna’s Herbal & Ayurveda has transformed from a small startup into a respected name in the industry. The journey has been difficult but extremely rewarding, confirming our belief in the power of perseverance and dedication.
As an advocate of Ayurveda, what efforts are you making to educate and create awareness among consumers about its benefits?
Over the years, the Ministry of Health has signed 13 MoUs to set up AYUSH academic chairs to assign Ayurveda experts to reputed universities and institutes. Though there is a lot of interest in Ayurveda, in-depth knowledge is often lacking, so education and awareness about Ayurveda plays a key role in bridging this gap.
We frequently host health camps where people can get personalized Ayurvedic health advice and experience our products first-hand. In addition, we also conduct Q&A sessions with health experts. These sessions allow consumers to ask questions and get authentic answers from experts on Ayurvedic practices and their benefits. We also collaborate with influencers who share our passion for holistic health and wellness. Finally, through influencer content, we reach a wider audience and demonstrate the effectiveness of our products in their everyday lives.
