Summary
Ayurveda Market Research Report Information by Product (Drugs, Skin Care Products, Hair Care Products, Health Care Products, Oral Care Products, and Others), by Form (Powder, Tablets, Capsules, Liquid and Others), by Application (Healthcare(Respiratory System, Gastrointestinal Care, Cardiovascular Health, Infectious Diseases, Orthopedic Health, Others) and Personal Care (Oral Care, Skin Care (Moisturizers, Lotions, Tablets, Capsules, Soaps & Bodywash, Facewash, Others), Hair Care(Hair Shampoo, Hair Masks, Tablets & Capsules, Hair Serums, Hair Conditioners, Others), Others)), by Distribution Channel (Business to Business (B2B) (Wholesalers, Pharmacies, Supermarkets, Others) and Business to Consumer (B2C)), and Region (North America, Europe, Asia-Pacific and Rest of the World) Forecast till 2032
Market Overview
In 2023, the Ayurveda Market was estimated to be worth USD 14,567.56 million. During the forecast period, the Ayurveda Market industry is anticipated to experience a compound annual growth rate (CAGR) of 16.13%.
The Ayurveda Market is experiencing growth due to the increasing government support for ayurveda products, the increasing awareness of the health and wellness benefits associated with ayurveda, and the growing adoption of ayurvedic products worldwide.
Dabur's "Science in Action" and Maharishi Ayurveda's #RightYourWrongs are both effective in promoting Ayurvedic principles as consumers increasingly seek holistic and natural alternatives to conventional medicine. These initiatives not only educate the public but also resonate with younger audiences, thereby increasing the appeal of Ayurvedic products. Ayurveda is positioned as a critical actor in the changing healthcare landscape because of the increasing demand, which is driven by a focus on sustainable remedies and preventive health.
Market segment insights
Drugs, skin care products, hair care products, health care products, oral care products, and others comprise this segment.
Based on the form, this segment comprises Powder, Tablets, Capsules, Liquid, and Others.
This segment is categorized into two categories: Healthcare (Respiratory System, Gastrointestinal Care, Cardiovascular Health, Infectious Diseases, Orthopedic Health, Others) and Personal Care (Oral Care, Skin Care (Moisturizers, Lotions, Tablets, Capsules, Soaps & Bodywash, Facewash, Others), Hair Care (Hair Shampoo, Hair Masks, Tablets & Capsules, Hair Serums, Hair Conditioners, Others).
The segment is divided into Business to Business (B2B) (Wholesalers, Pharmacies, Supermarkets, Others) and Business to Consumer (B2C) based on the distribution channel.
Regional Perspectives
The global Ayurveda market is divided into the following regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South & Central America. The Asia-Pacific market is primarily driven by the increasing awareness of the health and wellness benefits associated with ayurveda, as well as the growing adoption of ayurvedic products worldwide and the increasing government support for ayurveda products. Consumer preferences are being influenced by the deeply rooted traditions of Ayurveda in countries such as India, Sri Lanka, and Nepal, resulting in a resurgence in the prevalence of Ayurvedic products on both a local and international scale.
The increasing demand for natural and organic products, industry consolidation, and the necessity to expand geographically are the primary factors driving the increase in merger and acquisition (M&A) activity among market participants. For example, in November 2022, Mankind Pharma, an Indian pharmaceutical company, acquired Upakarma Ayurveda Private Limited, a company that specializes in the production, development, and distribution of Ayurvedic and medicinal medications. The purpose of this acquisition is to expand Upakarma Ayurveda's product and service offerings by leveraging Mankind Pharma's extensive distribution network.
The primary players in the market
Emami Limited, Vicco Laboratories, Baidyanath, Hamdard Laboratories, Kerala Ayurveda Limited, Dabur Ltd., Patanjali Ayurved Limited, Himalaya Wellness Company, Maharishi Ayurveda, Lotus Herbals, and others are among the main players in the market.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 29
2 MARKET INTRODUCTION ............................................................................................................ 31
2.1 DEFINITION ........................................................................................................................................................... 31
2.2 SCOPE OF THE STUDY ......................................................................................................................................... 31
2.3 RESEARCH OBJECTIVE ........................................................................................................................................ 31
2.4 MARKET STRUCTURE ......................................................................................................................................... 31
3 RESEARCH METHODOLOGY ...................................................................................................... 32
3.1 OVERVIEW ............................................................................................................................................................ 32
3.2 DATA FLOW .......................................................................................................................................................... 34
3.2.1 DATA MINING PROCESS ................................................................................................................................. 34
3.3 PURCHASED DATABASE: .................................................................................................................................... 35
3.4 SECONDARY SOURCES: ...................................................................................................................................... 36
3.4.1 SECONDARY RESEARCH DATA FLOW: ............................................................................................................. 37
3.5 PRIMARY RESEARCH: ......................................................................................................................................... 38
3.5.1 PRIMARY RESEARCH DATA FLOW: ................................................................................................................. 39
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: .......................................................................................... 40
3.6.1 REVENUE ANALYSIS APPROACH ..................................................................................................................... 40
3.7 DATA FORECASTING........................................................................................................................................... 41
3.7.1 DATA FORECASTING TYPE .............................................................................................................................. 41
3.8 DATA MODELING ................................................................................................................................................ 42
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ............................................................................................................ 42
3.8.2 DATA MODELING: ........................................................................................................................................... 43
3.9 TEAMS AND ANALYST CONTRIBUTION ......................................................................................................... 45
4 MARKET DYNAMICS .................................................................................................................... 47
4.1 INTRODUCTION................................................ 47
4.2 DRIVERS.......................................................... 48
4.2.1 GROWING AWARENESS OF HEALTH AND WELLNESS BENEFITS ASSOCIATED WITH AYURVEDA ........................ 48
4.2.2 INCREASING GOVERNMENT SUPPORT FOR AYURVEDA PRODUCTS .................................................................. 48
4.2.3 GROWING ADOPTION FOR AYURVEDIC PRODUCTS ACROSS THE GLOBE ........................................................... 49
4.3 RESTRAINTS.............................................................. 50
4.3.1 STRICT SAFETY AND QUALITY STANDARDS .................................................................................................... 50
4.3.2 VOLUNTARY PRODUCT RECALL BY MARKET PLAYERS ..................................................................................... 51
4.4 OPPORTUNITY ..................................................................................................................................................... 53
4.4.1 GROWING GERIATRIC POPULATION ................................................................................................................ 53
4.4.2 INCREASING FUNDING AND INVESTMENT ASSOCIATED WITH AYURVEDA PRODUCTS ...................................... 53
4.4.3 INCREASING LAUNCH OF AYURVEDA PRODUCTS ON E-COMMERCE WEBSITES ................................................. 54
5 MARKET FACTOR ANALYSIS ...................................................................................................... 55
5.1 PORTER'S FIVE FORCES MODEL ....................................................................................................................... 55
5.1.1 THREAT OF NEW ENTRANTS ........................................................................................................................... 55
5.1.2 BARGAINING POWER OF SUPPLIERS ............................................................................................................... 56
5.1.3 THREAT OF SUBSTITUTES .............................................................................................................................. 56
5.1.4 BARGAINING POWER OF BUYERS .................................................................................................................... 56
5.1.5 INTENSITY OF RIVALRY .................................................................................................................................. 56
5.2 IMPACT OF COVID-19 ON GLOBAL AYURVEDA MARKET ......................................................................... 57
5.3 LIST OF MAJOR BRANDS ALONG WITH THEIR RANKING FOR HAIR CARE, BY REGION .................... 58
5.4 LIST OF MAJOR BRANDS ALONG WITH THEIR RANKING FOR SKINCARE, BY REGION ...................... 63
5.5 QUALITATIVE ANALYSIS ON BRAND POSITIONING FOR HAIR CARE ALONG WITH COMPETITIVE DASHBOARD ANALYSIS OF BRAND............ 68
5.6 QUALITATIVE ON BRAND POSITIONING FOR SKIN CARE ALONG WITH COMPETITIVE DASHBOARD ANALYSIS OF BRAND.................................................. 70
6 GLOBAL AYURVEDA MARKET, BY PRODUCT ........................................................................... 81
6.1 OVERVIEW ............................................................................................................................................................ 81
6.2 DRUGS .................................................................................................................................................................... 83
6.3 SKIN CARE PRODUCTS ........................................................................................................................................ 84
6.4 HAIR CARE PRODUCTS ....................................................................................................................................... 84
6.5 HEALTH CARE PRODUCTS ................................................................................................................................. 85
6.6 ORAL CARE PRODUCTS ...................................................................................................................................... 85
6.7 OTHERS .................................................................................................................................................................. 86
7 GLOBAL AYURVEDA MARKET, BY FORM .................................................................................. 87
7.1 OVERVIEW ............................................................................................................................................................ 87
7.2 POWDER ................................................................................................................................................................ 89
7.3 TABLETS ................................................................................................................................................................. 90
7.4 CAPSULES .............................................................................................................................................................. 90
7.5 LIQUID.................................................................................................................................................................... 90
7.6 OTHERS .................................................................................................................................................................. 91
8 GLOBAL AYURVEDA MARKET, BY APPLICATION ..................................................................... 92
8.1 OVERVIEW................................................................................. 92
8.2 HEALTHCARE........................................................................ 95
8.2.1 RESPIRATORY SYSTEM...................................................... 95
8.2.2 GASTROINTESTINAL CARE....................................................... 96
8.2.3 CARDIOVASCULAR HEALTH................................................ 96
8.2.4 INFECTIOUS DISEASES...................................................... 97
8.2.5 ORTHOPEDIC HEALTH .................................................................................................................................... 97
8.2.6 OTHERS ......................................................................................................................................................... 97
8.3 PERSONAL CARE .................................................................................................................................................. 98
8.3.1 ORAL CARE .................................................................................................................................................... 99
8.3.2 SKIN CARE...................................................... 99
8.3.2.1 MOISTURIZERS........................................................... 100
8.3.2.1.1 WHOLESALERS.......................................................... 101
8.3.2.1.2 DIRECT TO CONSUMERS....................................... 101
8.3.2.1.3 OTHERS............................................................ 102
8.3.2.2 LOTIONS............................................................. 102
8.3.2.2.1 WHOLESALERS.............................................. 103
8.3.2.2.2 DIRECT TO CONSUMERS............................... 103
8.3.2.2.3 OTHERS............................................................ 103
8.3.2.3 TABLETS............................................................... 104
8.3.2.3.1 WHOLESALERS..................................................... 104
8.3.2.3.2 DIRECT TO CONSUMERS............................................. 105
8.3.2.3.3 OTHERS...................................................... 105
8.3.2.4 CAPSULES...................................................................... 106
8.3.2.4.1 WHOLESALERS ................................................................................................................................. 106
8.3.2.4.2 DIRECT TO CONSUMERS........................................... 106
8.3.2.4.3 OTHERS................................................................ 107
8.3.2.5 SOAPS & BODYWASH ............................................................................................................................. 107
8.3.2.5.1 WHOLESALERS ................................................................................................................................. 108
8.3.2.5.2 DIRECT TO CONSUMERS.......................................... 108
8.3.2.5.3 OTHERS....................................................................... 109
8.3.2.6 FACEWASH......................................................................... 109
8.3.2.6.1 WHOLESALERS.............................................................. 110
8.3.2.6.2 DIRECT TO CONSUMERS.............................................. 110
8.3.2.6.3 OTHERS..................................................................... 111
8.3.2.7 OTHERS................................................................ 111
8.3.2.7.1 WHOLESALERS........................................................... 112
8.3.2.7.2 DIRECT TO CONSUMERS................................... 112
8.3.2.7.3 OTHERS.......................................................... 113
8.3.3 HAIR CARE ..................................................................................................................................................... 114
8.3.3.1 HAIR SHAMPOO ..................................................................................................................................... 115
8.3.3.1.1 WHOLESALERS ................................................................................................................................. 115
8.3.3.1.2 DIRECT TO CONSUMERS ................................................................................................................... 115
8.3.3.1.3 OTHERS................................................................... 116
8.3.3.2 HAIR MASKS.................................................... 116
8.3.3.2.1 WHOLESALERS........................................................ 117
8.3.3.2.2 DIRECT TO CONSUMERS....................................... 117
8.3.3.2.3 OTHERS............................................................................ 117
8.3.3.3 TABLETS & CAPSULES ............................................................................................................................ 118
8.3.3.3.1 WHOLESALERS...................................................... 119
8.3.3.3.2 DIRECT TO CONSUMERS........................................ 119
8.3.3.3.3 OTHERS......................................................... 119
8.3.3.4 HAIR SERUMS........................................................... 120
8.3.3.4.1 WHOLESALERS......................................................... 121
8.3.3.4.2 DIRECT TO CONSUMERS......................................... 121
8.3.3.4.3 OTHERS....................................................... 122
8.3.3.5 HAIR CONDITIONERS......................................................... 122
8.3.3.5.1 WHOLESALERS ................................................................................................................................. 123
8.3.3.5.2 DIRECT TO CONSUMERS ................................................................................................................... 123
8.3.3.5.3 OTHERS............................................................. 124
8.3.3.6 OTHERS.................................................................. 124
8.3.3.6.1 WHOLESALERS........................................... 125
8.3.3.6.2 DIRECT TO CONSUMERS................................ 125
8.3.3.6.3 OTHERS............................................................... 126
8.3.4 OTHERS........................................................................... 126
9 GLOBAL AYURVEDA MARKET, BY DISTRIBUTION CHANNEL .................................................. 127
9.1 OVERVIEW ............................................................................................................................................................ 127
9.2 SUPERMARKETS ................................................................................................................................................... 130
9.3 PHARMACIES ........................................................................................................................................................ 131
9.4 DEPARTMENTAL STORES ................................................................................................................................... 131
9.5 BEAUTY SPA/SALON ............................................................................................................................................ 132
9.6 WHOLESALERS ..................................................................................................................................................... 132
9.7 DIRECT TO CONSUMERS .................................................................................................................................... 133
9.8 OTHERS .................................................................................................................................................................. 133
10 GLOBAL AYURVEDA MARKET, BY REGION ............................................................................... 134
10.1 OVERVIEW ............................................................................................................................................................ 134
10.2 NORTH AMERICA ................................................................................................................................................ 135
10.2.1 US.................................................................................................................................................................. 144
10.2.2 CANADA ........................................................................................................................................................ 151
10.3 EUROPE .................................................................................................................................................................. 159
10.3.1 GERMANY ...................................................................................................................................................... 168
10.3.2 FRANCE ......................................................................................................................................................... 175
10.3.3 UK ................................................................................................................................................................. 182
10.3.4 ITALY ............................................................................................................................................................. 189
10.3.5 SPAIN ............................................................................................................................................................ 196
10.3.6 REST OF EUROPE ............................................................................................................................................ 202
10.4 ASIA PACIFIC ........................................................................................................................................................ 210
10.4.1 CHINA ............................................................................................................................................................ 219
10.4.2 INDIA ............................................................................................................................................................. 226
10.4.3 JAPAN ........................................................................................................................................................... 233
10.4.4 AUSTRALIA .................................................................................................................................................... 240
10.4.5 SOUTH KOREA ................................................................................................................................................ 247
10.4.6 REST OF ASIA PACIFIC.................................................................................................................................... 254
10.5 REST OF THE WORLD ......................................................................................................................................... 262
10.5.1 MIDDLE EAST & AFRICA .................................................................................................................................. 271
10.5.2 SOUTH AMERICA ............................................................................................................................................ 278
11 COMPETITIVE LANDSCAPE ........................................................................................................ 287
11.1 INTRODUCTION ................................................................................................................................................... 287
11.2 MARKET SHARE ANALYSIS, 2023 ...................................................................................................................... 287
11.3 COMPETITOR DASHBOARD .............................................................................................................................. 288
11.4 PUBLIC PLAYERS STOCK SUMMARY ............................................................................................................... 289
11.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANICAL ............................................................................... 289
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES ........................................................................................... 289
11.6.1 PRODUCT LAUNCH/PRODUCT EXPANSION ...................................................................................................... 289
11.6.2 EXPANSION.............................................................................. 291
12 COMPANY PROFILES .................................................................................................................. 292
12.1 EMAMI LIMITED .................................................................................................................................................. 292
12.1.1 COMPANY OVERVIEW ..................................................................................................................................... 292
12.1.2 FINANCIAL OVERVIEW .................................................................................................................................... 293
12.1.3 PRODUCTS OFFERED ...................................................................................................................................... 294
12.1.4 KEY DEVELOPMENTS ...................................................................................................................................... 294
12.1.5 SWOT ANALYSIS ............................................................................................................................................ 294
12.1.6 KEY STRATEGIES ............................................................................................................................................ 295
12.2 VICCO LABORATORIES ...................................................................................................................................... 296
12.2.1 COMPANY OVERVIEW ..................................................................................................................................... 296
12.2.2 FINANCIAL OVERVIEW .................................................................................................................................... 296
12.2.3 PRODUCTS OFFERED ...................................................................................................................................... 296
12.2.4 KEY DEVELOPMENTS ...................................................................................................................................... 297
12.2.5 KEY STRATEGIES ............................................................................................................................................ 297
12.3 BAIDYANATH...................................................................... 298
12.3.1 COMPANY OVERVIEW.................................................... 298
12.3.2 FINANCIAL OVERVIEW...................................................... 298
12.3.3 PRODUCTS OFFERED............................................................ 298
12.3.4 KEY DEVELOPMENTS............................................................. 300
12.3.5 KEY STRATEGIES.......................................................... 300
12.4 HAMDARD LABORATORIES......................................... 301
12.4.1 COMPANY OVERVIEW................................................... 301
12.4.2 FINANCIAL OVERVIEW................................................... 301
12.4.3 PRODUCTS OFFERED................................................ 302
12.4.4 KEY DEVELOPMENTS.......................................................... 303
12.4.5 KEY STRATEGIES............................................................ 304
12.5 KERALA AYURVEDA LIMITED............................................. 305
12.5.1 COMPANY OVERVIEW.......................................................... 305
12.5.2 FINANCIAL OVERVIEW...................................................... 305
12.5.3 PRODUCTS OFFERED....................................................................... 306
12.5.4 KEY DEVELOPMENTS................................................. 306
12.5.5 SWOT ANALYSIS................................................ 307
12.5.6 KEY STRATEGIES............................................................ 307
12.6 DABUR LTD......................................................................... 308
12.6.1 COMPANY OVERVIEW.................................................... 308
12.6.2 FINANCIAL OVERVIEW.......................................................... 308
12.6.3 PRODUCT OFFERED.......................................................... 310
12.6.4 KEY DEVELOPMENTS................................................... 312
12.6.5 SWOT ANALYSIS............................................................... 313
12.6.6 KEY STRATEGIES................................................... 313
12.7 PATANJALI AYURVED LIMITED................................................. 314
12.7.1 COMPANY OVERVIEW................................................................... 314
12.7.2 FINANCIAL OVERVIEW............................................................... 315
12.7.3 PRODUCTS OFFERED.................................................................. 316
12.7.4 KEY DEVELOPMENTS......................................................... 317
12.7.5 SWOT ANALYSIS...................................................................... 317
12.7.6 KEY STRATEGIES......................................................... 318
12.8 HIMALAYA WELLNESS COMPANY................................ 319
12.8.1 COMPANY OVERVIEW..................................................... 319
12.8.2 FINANCIAL OVERVIEW.......................................................... 319
12.8.3 PRODUCT OFFERED.............................................................. 320
12.8.4 KEY DEVELOPMENTS.................................................. 322
12.8.5 SWOT ANALYSIS........................................................................................... 323
12.8.6 KEY STRATEGIES................................................................ 323
12.9 MAHARISHI AYURVEDA...................................................... 324
12.9.1 COMPANY OVERVIEW......................................................... 324
12.9.2 FINANCIAL OVERVIEW.............................................. 324
12.9.3 PRODUCT OFFERED ........................................................................................................................................ 324
12.9.4 KEY DEVELOPMENTS ...................................................................................................................................... 326
12.9.5 KEY STRATEGIES ............................................................................................................................................ 326
12.10 LOTUS HERBALS ................................................................................................................................................... 327
12.10.1 COMPANY OVERVIEW ..................................................................................................................................... 327
12.10.2 FINANCIAL OVERVIEW .................................................................................................................................... 327
12.10.3 PRODUCT OFFERED ........................................................................................................................................ 327
12.10.4 KEY DEVELOPMENTS ...................................................................................................................................... 328
12.10.5 KEY STRATEGIES ............................................................................................................................................ 329
13 DATA CITATIONS ......................................................................................................................... 330
