Ayurvedic Market

Global Ayurvedic Market Size (2024 to 2029)

As per our analysis report, the global ayurvedic market is expected to reach USD 23.19 billion by 2029 from USD 10.69 billion in 2024, growing at a compound annual growth rate (CAGR) of 16.75 % during the forecast timeline.

Current Scenario of the Global Ayurvedic Market

The treatment procedure focuses on internal purification that helps a person eliminate impurities and increase the resistance power. 

Ayurveda elevates the harmony of life. There is a belief that stress or imbalance in the human consciousness is the primary factor for the disease. Following certain lifestyles, taking herbal remedies, and following a traditional diet will help a person retain health. Ayurveda treatment undergoes various procedures that include yoga, meditation, and massage therapy along with a special diet.

MARKET DRIVERS

Ayurveda's focus on holistic healing and individualized treatment also appeals to consumers looking for a more personalized approach to healthcare.

The increasing popularity of natural and herbal products, as consumers seek out alternatives to traditional Western medicines, is a primary factor that is propelling the demand of the market. Another driver is the growing awareness of the health benefits of Ayurvedic practices such as yoga, meditation, and mindfulness. As more people adopt these practices, they are likely to become more interested in Ayurvedic products and treatments. The rise of e-commerce and online marketplaces has also made it easier for consumers to access Ayurvedic products and for companies to reach a wider audience. Additionally, the increased government support and investment in Ayurvedic research and development has led to the creation of new and innovative products that are driving market growth.

The Ayurvedic market presents a significant opportunity for businesses looking to tap into the growing demand for natural and holistic wellness products.

Ayurveda, an ancient system of medicine from India, emphasizes the use of natural remedies, herbs, and lifestyle practices to maintain balance and promote health. With the rise of wellness and self-care trends, Ayurvedic products have gained popularity not only in India but also globally. The market is expected to grow due to increasing awareness and interest in Ayurveda, as well as the trend toward natural and sustainable products. Companies can capitalize on this opportunity by developing high-quality, authentic Ayurvedic products and leveraging digital marketing to reach a wider audience.

MARKET RESTRAINTS

Despite the increasing demand for Ayurvedic products, the market faces several challenges. One of the major restraints is the lack of standardization and regulation. There is no standardization of ingredients, dosage, or manufacturing practices, which makes it difficult for consumers to choose the right product. Another challenge is the lack of awareness about Ayurvedic products among consumers, especially in Western countries. The cost of Ayurvedic products is also higher than their conventional counterparts, which limits their accessibility to a large population. The limited availability of raw materials and the slow manufacturing process also hinder the growth of the market. Additionally, the lack of scientific evidence to support the efficacy of Ayurvedic products in treating certain health conditions is a major restraint for the market.

Impact of COVID-19 on the global ayurvedic market

The COVID-19 pandemic has had a mixed impact on the Ayurvedic market. On the one hand, there has been an increased demand for natural remedies and immunity boosters, which has led to a surge in sales of Ayurvedic products. However, disruptions in the supply chain, restrictions on movement, and decreased consumer purchasing power have also affected the market negatively. Many Ayurvedic businesses have shifted to online sales and e-commerce to reach customers during the pandemic. The pandemic has also highlighted the importance of holistic wellness and prevention, which may lead to sustained demand for Ayurvedic products in the long term.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Ayurvedic Market By Product Type

The wellness products segment is estimated to hold the largest share of the global ayurvedic market during the forecast period.

Wellness products include natural supplements, Ayurvedic teas, and herbal formulations that promote overall health and well-being. With the growing awareness of the importance of preventive healthcare, there has been an increased demand for natural and holistic wellness products, including those based on Ayurveda.

Global Ayurvedic Market By Application

The immunity boosters segment is estimated to account for the major share of the global market during the forecast period due to the ongoing COVID-19 pandemic, which has highlighted the importance of maintaining good health and boosting immunity. People are looking for natural and holistic ways to boost their immune systems and are turning towards Ayurvedic products, which are perceived as safe and effective.

Global Ayurvedic Market - By Distribution Channel

Online stores are expected to emerge as the fastest-growing distribution channel for Ayurvedic products. The COVID-19 pandemic has further accelerated the trend toward online shopping as consumers seek safer and more convenient ways to purchase products. Online stores offer a wider range of Ayurvedic products, competitive pricing, and the convenience of home delivery.

Global Ayurvedic Market By Demographics

Women also tend to prioritize self-care and are more aware of the benefits of using natural and holistic products

Women are estimated to have the highest market share in the Ayurvedic market. This is because women are more likely to use personal care and wellness products, and Ayurvedic products are perceived as natural and safe alternatives to synthetic products.. Therefore, there is a significant market for Ayurvedic personal care and wellness products targeted toward women, such as skincare, hair care, and supplements for reproductive health. However, there is also growing demand for Ayurvedic products for children, particularly for immunity boosters and digestive health.

Global Ayurvedic Market By Dosha Type

Vata and Pitta are estimated to have the highest revenue share in the Ayurvedic market because the most common doshas require balancing with Ayurvedic remedies. Vata is associated with dryness, coldness, and mobility and is balanced with warming and nourishing products. Pitta is associated with heat, acidity, and inflammation and is balanced with cooling and soothing products.

REGIONAL ANALYSIS

Asia Pacific is likely to have the highest demand for Ayurvedic products due to its large population.

Increasing consumer awareness and interest in natural products, and growing disposable income levels. Ayurveda is an established system of medicine and is deeply rooted in the culture. India has a large market for Ayurvedic products due to the widespread use and acceptance of Ayurveda in the country. The COVID-19 pandemic has also contributed to the rise in demand for Ayurvedic products globally, as consumers are seeking ways to boost their immunity and maintain overall wellness.

KEY MARKET PLAYERS

Dabur India Ltd., Patanjali Ayurved Ltd., Himalaya Drug Company, Vicco Laboratories, Baidyanath Ayurved Bhawan Pvt. Ltd., Emami Ltd., Hamdard Laboratories, Arya Vaidya Pharmacy (AVP), Charak Pharma Pvt. Ltd. and Zandu Realty Ltd. are some of the major companies in the global ayurvedic market.

RECENT HAPPENINGS IN THE MARKET

• In March 2022, The Ministry of Ayush and the Department of Biotechnology in the Indian government signed a Memorandum of Understanding (MoU) for collaboration on research and development projects related to Ayurveda, Yoga, and other traditional systems of medicine in India.
• In July 2021, Marico, a renowned FMCG company, announced that they had purchased a 60% stake in Apcos Naturals Private Limited. The exact amount of the deal was not disclosed. Apcos Naturals Private Limited is the creator of Just Herbs, an Ayurvedic beauty brand.

DETAILED SEGMENTATION OF THE GLOBAL AYURVEDIC MARKET INCLUDED IN THIS REPORT

This research report on the global ayurvedic market has been segmented and sub-segmented based on product type, application, distribution channel, demographics, dosa type, and region.

By Product Type

• Personal Care Products
• Healthcare Products
• Wellness Products
• Others

By Application

• Skincare
• Haircare
• Oral care
• Digestive care
• Immunity boosters
• Others

By Distribution Channel

• Pharmacies
• Specialty stores
• Online stores
• Supermarkets
• Others

By Demographics

• Children
• Men
• Women

By Dosha Type:

Vata

Pitta

Kapha

Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa