Ayurvedic medicine is becoming increasingly popular in various regions of the world, contributing to the growth of the Ayurvedic supplement market.
NEWARK, Del., Nov. 22, 2023 (Globe Newswire) — The global Ayurvedic supplements market is valued at 1,831.8 million USD According to recent analysis, the market is predicted to exhibit a CAGR in 2024. 9.9% The estimated valuation during the forecast period is 4,708.2 million USD By 2034.
The Ayurvedic supplements market is expected to grow steadily due to the growing popularity of plant-based organic supplements. Rising health concerns and consumer aversion to the harmful effects of conventional medicines have shifted customer preference towards Ayurvedic supplements.
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The shift from chemically processed beauty products to Ayurvedic-inspired beauty products is a global trend. People have gradually moved towards organic skin care and hair care supplements using natural ingredients. The growing popularity of Ayurveda shows that younger customers are interested in well-being beyond just the surface level. Therefore, the demand for skin care supplements is contributing to the growth of Ayurvedic supplements.
Due to economic growth and increasing disposable income, the popularity of Ayurvedic healthcare products has particularly increased in the last few years. As a result, the market value of Ayurvedic supplements has increased. Additionally, the distribution of products through various networks has also been improved. Therefore, products can be easily accessed from multiple regions.
Government agencies have introduced various programs to create awareness of Ayurvedic medicine. The market demand for Ayurvedic supplements is further fueled by growing awareness of the value of living a healthier lifestyle and increasing customer demand for chemical-free products.
Key points from market research:
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Dietary supplements are a major product segment and are expected to continue to grow in the future. 28.9% Market share in 2024.
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The capsule/tablet segment will be led by Ayurvedic supplements in the form of Ayurvedic supplements with an expected market share of 35.9% In 2024.
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By distribution channel, e-commerce is leading the Ayurvedic supplements market with market share 33.9% in 2024.
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Japan is predicted to be one of the leading countries in the market. His CAGR for Japan from 2024 to 2034 is 9.1%.
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India and China are other Asian countries with market potential. During the forecast period, her CAGR for China and India is projected to be 8.8% and 8.1%.
“Due to the clearly high market demand for natural ingredients, several companies are launching products containing ingredients of natural origin. Additionally, major market players are developing new products with enhanced effective formulations. We are focusing on People are increasingly concerned about the side effects of traditional medicines. ” opinion Sabasachi Ghosh Vice President of Future Market Insights (FMI).
Ayurvedic supplements market outlook:
|
data points |
market insights |
|
|
Market value in 2023 |
1,708.5 million USD |
|
|
Market value in 2024 |
1,831.8 million USD |
|
|
Market value in 2034 |
4,708.2 million USD |
|
|
CAGR from 2024 to 2034 |
9.9 |
% |
Market competition:
The Ayurvedic supplements market is fragmented with a large number of regional startups and established players. Major companies have launched product launches and marketing efforts to expand their product lines. There are several prominent companies in the market.
Main companies introduced:
Maharishi Ayurveda India Products Private Limited, Surya Herbal Ltd, Gynoveda Femtech Private Ltd., Herbal Health Solutions, Dabur India Limited, Emami Limited., Veloce Herbals Pvt. Ltd., Riann Wellness Pvt. Ltd., Global Healthfit Retail India LLP, Pharma Science, The Himalaya Drug Co., Tactus Nutrascience, Relevium, Organic Dehydrate Foods Pvt. Ltd., BACFO PHARMACEUTICALS (India) Ltd., Herbolab India Pvt Ltd., Green Cross Health Innovation, ManSure, Banyan Botanicals
Recent developments:
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In March 2021, Ayurvedic brand Maharishi Ayurveda rolled out a digital ad campaign featuring the celebrity face of Milind Soman to promote its product Amrit Kalash.
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In February 2020, Dabur India Ltd. launched Dabur Keratex, a hair oil enriched with Ayurvedic ingredients to control dandruff and nourish dry scalp.
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In September 2021, NatureCode launched a new range of dry herbal and Ayurvedic wellness products.
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Key market segments covered in the Ayurvedic Supplements industry research:
By product:
By form:
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capsule/tablet
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powder
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syrup
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oil and ointment
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other
By distribution channel:
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hospital pharmacy
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retail pharmacy
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mail order pharmacy
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e-commerce
By region:
author:
Sabyasachi Ghosh (Vice President, Future Market Insights, Inc.) has over 12 years of experience in the healthcare, medical device, and pharmaceutical industries. His curiosity and analytical skills helped shape his career as a researcher.
It comes naturally to him to identify the key challenges faced by his clients and develop robust, hypothesis-based solutions to empower them with strategic decision-making capabilities. His main expertise lies in the areas of market entry and expansion strategies, feasibility studies, competitive intelligence, and strategic transformation.
Sabyasachi, who holds a degree in microbiology, has written numerous publications and has been cited in journals such as The Journal of mHealth, ITN Online, and Spinal Surgery News.
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