Ayurvedic Healthcare Market size valued at USD 7920.75 Billion in 2022 and is anticipated to reach USD 24909. 26 Billion in 2030, growing at a CAGR of 16.5%.
The Ayurvedic Market is undergoing rapid growth, conceding to the rising awareness among the population about the side effects of allopathic medicines. Simplicity of availability and growing awareness about the benefits of the products are pushing a positive impact factor on market growth.
Global Ayurvedic Healthcare Market– Overview:
The growing medical tourism is also contributing to the rise in the growth of the market. The Global Ayurvedic Market report provides an entire evaluation of the market for the forecast period.
Ayurveda is an ancient Indian system of medicine that originated from the word Ayurveda which is from the hearts of Indian sub-continents.
It is constituted of spices, plant-based medicines and natural herbs and is a practice of alternative medicine.
Almost about 80% of people in India practice some form of traditional medicine, a class that incorporates Ayurveda. These therapies are indentured all over the world to serve the goal of general wellness.
The main aim of Ayurvedic medicines is to benefit the human race to live long, healthy and strong without depending upon any remedies, painful interferences or complicated surgeries.
The ingredients of Ayurveda are extensively applicable in cosmetics, personal care products, health supplements, Oral Care Products, and drugs.
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Key Trends: Growth Determinants and Challenges:
Some of the major driving forces of the market growth involve increasing demand for organic and natural products, rising consumer awareness and rising demand for Ayurvedic cosmetics products, enlarging medical tourism globally.
Organic skincare products are attaining a firm grip and the market is anticipated to expand even further.
Furthermore, to expand the consumer base, anti-aging & anti-raging creams are expected to drive the market growth.
The growing medical tourism worldwide is projected to propel the Global Ayurvedic Market growth.
There are certain restrictions and barriers experienced that will hamper the market growth.
The factors such as lack of optimum therapeutics, stringent regulations and lack of a killer instinct in the Ayurvedic industry are the potential restraints restricting the overall growth of the global Ayurvedic Market.
Nevertheless, the continuous advancements in technologies, practical developments in Ayurvedic medicines, and untapped potential in emerging markets offer favourable growth opportunities.
Segmental Analysis of Global Ayurvedic Market:
Based on Product
- Oral Care Products
- Drugs
- Hair Care Products
- Health Care Products
Based on Distribution
- Beauty Spa or Salon
- Supermarkets
- Departmental Stores
- Pharmacies
- Others
Based on Region
North America (US, Canada), Europe (UK, France, Spain, Italy, Germany), Asia-pacific (India, China, Japan, South Korea, Australia), Latin America (Mexico, Brazil), Middle East and Africa (UAE, Saudi Arabia, South Africa)
The Global Ayurvedic Market is classified into North America, Asia Pacific and Europe. Asia-Pacific holds the largest market share.
The rich tradition of herbal medicines led by India, Myanmar, Indonesia, Sri Lanka, and others.
The presence of established Ayurvedic manufacturing units, strong governmental initiatives, and ongoing projects will boost the market in the APAC region.
Competitive Landscape:
- Charak Pharma Pvt. Ltd.
- Vicco Laboratories
- Emami Limited
- Patanjali Ayurvedic Limited
- Dabur India Limited
- Leverayush
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Himalaya Drug Company
Major Developments:
o In April 2021 to promote AYUSH systems around the world, the Ministry of AYUSH has signed Country to Country MoUs with 18 countries for cooperation in Traditional Medicine and Homeopathy, as well as MoUs for collaborative research collaboration and MoUs for establishing AYUSH Academic Chairs in international universities.
The AYUSH Information Cells, which are located in around 28 countries and distribute information on AYUSH systems, are another option.
o In June 2021 Marico, a leading FMCG company stated on July 14 that it had acquired a 60 percent ownership position in Apcos Naturals Private Limited for an undisclosed sum. Just Herbs is an ayurvedic beauty brand created by Apcos Naturals Private Limited, which was co-founded by CEO Arush Chopra and Brand Director Megha Sabhlok in 2010.
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Major questions answered in the report:
- What are the key driving forces for the growth of Global Ayurvedic Market?
- What are the major key players in the Global Ayurvedic Market?
- Which region has the largest market share for Global Ayurvedic Market?
Key Takeaways from the report:
- Qualitative and Quantitative analysis of regional segment of Global AyurvediC Market.
- Market dynamics and growth opportunities.
- A market value of $7920.75 Billion in 2022, is expected to reach a value of $24909.26 Billion in 2030 with a growing CAGR of 16.5%.
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