Ayurveda, the science of using herbs and other medicinal plants for healthcare, is practiced in India since ages. However, the use of Ayurvedic products has picked up recently in the country. As of 2019, around 76% of Indian households used Ayurvedic products for personal and health care.
In India, Kerala and Tamil Nadu are the leading destinations for medical tourism mainly due to the growing number of Ayurvedic health centers, medication and yoga workshops, and Ayurvedic spas.
Market insights:
The Ayurveda industry in India was valued at INR 335 Bn in 2019 and is expected to reach a value of INR 1,042.07 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~22.15% during the FY 2020-FY 2025 period. Growing awareness regarding the benefits of Ayurvedic products and consumers' inclination towards maintaining a healthy lifestyle are the leading factors responsible for driving the growth of the Indian Ayurveda industry. Moreover, initiatives undertaken by the Indian government to encourage the use of natural and herbal products are likely to boost market growth. However, factors such as shortage of quality raw materials for the production of Ayurvedic compounds and lack of skilled personnel in the industry hinder the growth of the market.
Segment insights:
In terms of product usage, the Ayurveda industry in India is segmented into Ayurveda products and Ayurveda services. As of 2019, the Ayurveda products segment dominated the Ayurveda market in India, accounting for around 75% of the overall market share. In the aftermath of the pandemic, the Ayurveda services market segment is expected to witness slow growth, owing to the temporary closure of all the Ayurvedic service providing centers; it is expected to account for ~14.50% of the overall market in 2025.
Impact of COVID-19:
The rapid spread of the contagion prompted lockdown across the country that brought trade, manufacturing, and commerce to a standstill, radically transforming India's overall business scenario. However, the Ayurveda industry is among the few to have benefitted from the virus outbreak. The demand for Ayurvedic immunity boosting products such as Chawanprash, Giloy tablets, Giloy churna, honey, and Ashwagandha tablets has skyrocketed, in the wake of the pandemic. Furthermore, the demand for natural dietary supplements to relieve stress and strengthen immunity has increased. Thus, increasing adoption of natural products and Ayurvedic compounds for the prevention and treatment of COVID-19 have marked a positive impact on the overall industry.
Companies covered:
Dabur India Limited
Emami Limited
Charak Pharma Private Limited
Herbolab India Private Limited
Nagarjuna Herbal Concentrates Limited
Patanjali Ayurved Limited
Shahnaz Ayurveda Private Limited
Shree Baidyanath Ayurved Bhawan Private Limited
The Himalaya Drug Company
Ananda In The Himalayas
Ayurogashram Private Limited
Mercure Goa Deevaya Retreat
Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Introduction to Indian Systems of Medicine
3.2. Ayurveda industry - Market definition and structure
Chapter 4: Market overview
4.1. Ayurveda industry in India - Overview
4.1.1. Market size and growth forecast based on value (2018-2025e)
4.1.2. Status of the Ayurvedic system in India (as of 2019)
Chapter 5: Market segmentation
5.1. Market share of India Ayurveda industry - Based on product usage (2019-2025e)
5.1.1. India Ayurveda products market size and growth forecast (2018-2025e)
5.1.2. India Ayurveda services market size and growth forecast (2018-2025e)
Chapter 6: COVID-19 impact analysis
6.1. COVID-19 impact analysis
Chapter 7: Market influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Government initiatives
8.1. Government initiatives
Chapter 9: Competitive landscape
9.1.1. Dabur India Limited
- Company information
- Business description
- Products/services
- Key people
- Financial snapshot
- Key business segments
- Key geographical segments
Note: Financial data and segment-wise data is available for public companies only
9.1.2. Emami Limited
9.1.3. Charak Pharma Private Limited
9.1.4. Herbolab India Private Limited
9.1.5. Nagarjuna Herbal Concentrates Limited
9.1.6. Patanjali Ayurved Limited
9.1.7. Shahnaz Ayurveda Private Limited
9.1.8. Shree Baidyanath Ayurved Bhawan Private Limited
9.1.9. The Himalaya Drug Company
9.1.10. Ananda in the Himalayas
9.1.11. Ayurogashram Private Limited
9.1.12. Mercure Goa Deevaya Retreat
9.1.13. Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited
Chapter 10: Recent developments
10.1. Recent developments
Chapter 11: Appendix
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer
Executive Summary
Azoth Analytics has released a research report titled "Global Metaverse Market (2024 Edition)" which provides a complete analysis of the Global Metaverse industry in terms of market segmentation By Product (Hardware, Software and Services), By Platform (Desktop, Mobile...
Executive Summary
Azoth Analytics has released a research report titled "Global Gas and Flame Detection Products Market (2024 Edition)" which provides a complete analysis of the Global Gas and Flame Detection Products industry in terms of market segmentation By Type (Fixed Gas Detection...
The Healthcare Linen Cleaning Industry Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, ...
Asia Pacific cutting tools market will grow by 6.0% annually with a total addressable market cap of $163.03 billion over 2024-2033. The growth is driven by the increasing production and manufacturing activities, improved operational efficiency and innovative design, and an increasing demand for powe...
Europe cutting tools market was valued at $6.85 billion in 2023 and will grow by 4.6% annually over 2023-2033. The growth is driven by the increasing production and manufacturing activities, improved operational efficiency and innovative design, and an increasing demand for power tools for DIY activ...
North America cutting tools market is projected to grow by 4.2% annually in the forecast period and reach $12.24 million by 2033. The growth is driven by the increasing production and manufacturing activities, improved operational efficiency and innovative design, and an increasing demand for power ...
Global cutting tools market will reach $48.03 billion by 2033, growing by 5.1% annually over 2023-2033. The growth is driven by the increasing production and manufacturing activities, improved operational efficiency and innovative design, and an increasing demand for power tools for DIY activities. ...
Overview of the Global Industry 4.0 Asset Management Solutions Market:
The report discusses everything a marketer requires before investing in the global Industry 4.0 Asset Management Solutions Market during the for...
Overview of the Global Chemical Industry Liquid Waste Management Market:
The report discusses everything a marketer requires before investing in the global Chemical Industry Liquid Waste Management Market during the...
Overview of the Global Industry 4.0 Cybersecurity Solutions Market:
The report discusses everything a marketer requires before investing in the global Industry 4.0 Cybersecurity Solutions Market during the forecast ...