Ayurvedic Products Market Size, Share, Growth, Trends, Revenue, Competitive Landscape, Forecast Report
Ayurvedic Products Market
Market Overview:
Rising sale of Ayurvedic Products is driven majorly by its
diverse and potential application across the personal care and healthcare
industries. Ayurvedic products are highly consumed by in the form of health
supplements to enhance the body’s immune system. Ayurvedic formulations are
also used majorly in personal care products including skin care and hair care
products to naturally improve the skin and hair related issues. Rising
consumer’s awareness of the wide application of the herbal and natural product
is influencing the sale of Ayurvedic products positively. In addition,
increasing beauty-consciousness among the female population in developed
regions have led to increased demand for Ayurvedic Products globally.
Furthermore, increasing disposable income backed up by developing economic
conditions has also influenced the positive growth of this market. The
production of Ayurvedic Products is high in the Asia Pacific as India is the
origin or Ayurvedic medicines and is projected to increase at a positive growth
rate in various countries of North America and Europe over the forecast period.
Market Forecast:
The Global Ayurvedic
Products Market share is expected to grow at a higher growth rate supported
by the rising awareness about the benefits of Ayurvedic health supplements and
personal care products among the population. Increasing demand for healthy and
herbal cosmetics among various countries has also increased the share for
Ayurvedic Products in the global market. Developing economic conditions of
various regions is fueling up the market demand for Ayurvedic Products on the
global level.
All of these factors contribute to the calculated CAGR of
4.2% of Ayurvedic Products Market during 2017-2023.
Downstream Analysis:
The demand for Ayurvedic Products in personal care products
is growing at a significant rate, whereas, Ayurvedic Products for healthcare
and medicinal purposes holds a share of a lion in the market. Organic Ayurvedic
Products is anticipated to grow at the highest rate during the forecast period
owing to escalating demand for chemical-free medicinal products. In addition,
the demand for vegan Ayurvedic products is estimated to have a high growth based
on increasing animal welfare concerns among the consumers.
Additionally, the sale of Ayurvedic Products through
supermarkets/hypermarkets accounts for a significant share among the various
other distribution channels.
Competitive Analysis:
The major key players in the Ayurvedic Products market
are
Dabur India Ltd. (India)
The Himalaya Drug Company (India)
Natreon Inc (U.S.)
Patanjali Ayurved Limited (India)
Basic Ayurveda (India)
Herbal Hills (India)
Planet Ayurveda (India)
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Ayurvedic Products manufacturers across various regions are
following the strategy of new product launch to expand their business as well
as to meet the consumers demand. Owing to this, the key players are investing
highly in R & D sector to improve their existing products line and to
launch unique products. This is one of the major factors that propel the demand
for Ayurvedic Products on a global level. In Asia Pacific, India is amongst the
dominating countries holding a major share in Ayurvedic Products Market and
exports the product to various other countries, which include the U.S., the
U.K., Germany, China, and others.
Regional Analysis:
The Global Ayurvedic Products Market is segmented into North
America, Europe, Asia Pacific, and the rest of the world (ROW). The Asia
Pacific holds a major market share followed by North America. High demand for
Ayurvedic products owing to increasing disposable income from the developed
countries of these regions is contributing to the positive growth of the
Ayurvedic Products Market. The U.S., China, France, Germany and Canada are the
major importers of Ayurvedic Products. Economic growth and developed trading
channels are driving the growth of Ayurvedic Products Market in these
countries.
Market Segmentation:
Global Ayurvedic Products market is segmented by
product-type, specialty attribute, distribution channel, and region.
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