Rising awareness about healthy lifestyle
& wellness coupled with increasing concerns about side effects of chemical
medications to drive India ayurvedic products market
According
to a recently released TechSci Research report, “India Ayurvedic
Products Market By Category, By Distribution Channel, By Region, Competition,Forecast
& Opportunities, 2024”, ayurvedic
products market in India is projected to grow at a CAGR of more than 10% during
2019 – 2024 on account of growing awareness for healthy lifestyle &
wellness, rising concerns about side effects of chemical & allopathic
medications, and the increasing popularity of various spiritual leaders. Increasing
consumer shift towards opting for products based on natural ingredients due to
increasing health consciousness, especially among the young adult population,
is significantly contributing to the growth of ayurvedic productsmarket in
India.
"India
Ayurvedic Products Market"
The distribution channel of ayurvedic productsmarket is
categorized into traditional stores, supermarkets/hypermarkets, online, and
other channels. Traditional stores accounted for the majority share ofIndia ayurvedic
productsmarket in 2018, followed by Supermarkets/Hypermarkets. However, during
the forecast period, the share of traditional stores segment is expected to decline
on account of rising product availability on e-commerce websites and captive
portals, as well as insupermarkets/ hypermarkets across the country.
In terms of region, the India
ayurvedic productsmarket is categorized into North, West, East and South. The
market for ayurvedic productsin South India was the largest in 2018 on account
of ability to deliver many ayurvedic products and services due to the presence
of ayurvedic wellness centers in the region, and the followers of age old ayurvedic
traditionssuch as ashtavaidya tradition in variousstates such as Kerala. Major
players operating in India ayurvedic productsmarket include Patanjali Ayurveda
Ltd, Dabur Limited, and Emami Ltd., The Himalaya Drug Company, Shree Baidyanath
Ayurveda Bhawan Ltd. In 2018, Patanjali held the major market share in the
country’s ayurvedic products market, and the company is expected to continue
its dominance through 2024.
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“Indiaayurvedic products market is expected to grow at a
steady pace due to the rising awareness regarding a healthy lifestyle, chemical
free products, huge brands endorsements from spiritual leaders, and the growing
popularity and acceptance of ayurvedic products. Adults as well as the young
adults are the primary buyers of ayurvedic products,and they are also the
target consumer segments for the major ayurvedic product players operating in India.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
According to a recently released TechSci
Research“India
Ayurvedic ProductsMarket By Category, By Distribution Channel, By Region,
Competition Forecast & Opportunities, 2024” has evaluated the future growth
potential of India ayurvedic productsmarket and provides statistics and
information on market structure, consumer behaviour and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
available in India ayurvedic productsmarket.
About TechSci Research
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Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research-based consulting assignments in high
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