Ayurveda has played an important role in meeting the global healthcare needs. There is rising trend towards Ayurveda, Yoga and other systems of Indian origin that promote wellness and cure. Ayurveda Market is rising with the increasing demand for Ayurvedic products, awareness of the consumer, need for natural and organic products, and Medical Tourism.
From breakfast cereals to cosmetic products, to clothes- the Ayurvedic revolution is booming. Herbal products are today present across various categories such as clothing, utilities, food items, personal care, beverages and more. According to a research report published in August 2017 by Orbisresearch.com on Global Ayurvedic Market’s from 2017-2022, the market was about $3,500 million in 2015 and is expected to reach $9,791.0 million by 2022. Ayurveda’s is recognized as an effective system of medicine due to its ancient roots that proved effective for centuries.
According to another industry estimated by Economic Times, The personal care products market in India forms Rs 9,000 crore valuation. The Ayurveda category us 20-25% in the market. The purchasing power of woman and the changes in lifestyle patterns are the key contributors. The key vendors in the Ayurveda market include Dabur India Ltd., Emami Ltd., Zandu Pharmaceuticals Works Ltd., Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Shree Dhootapapeshwar Ltd., Amrutanjan Healthcare Limited, Lotus Herbals, Vicco Laboratories, Forest Essentials, The Himalaya Drug Company, Patanjali Ayurved Limited, Charak Pharma Pvt. Ltd., etc. Besides these company, huge multinational corporations like Unilever have also launched a line of herbal products. Besides Ayurvedic products and medicines, Ayurveda treatments and spas are also in a high demand. Wellness Tourism is growing at a very high rate from tourists seeking Ayurvedic treatments.
Ayurveda is spreading from the rural to the Urban population. Most people prefer Ayurveda products and treatments to protect themselves from the possible side effects of allopathy medicines and to cure their body permanently. Ayurveda is gaining popularity across the globe due to the medicinal benefits which are natural. Ayurvedic herbs such as Brahmi, Ashwagandha, and many others, are used globally for their medicinal properties. Ayurveda assures permanent relief with no side effects and has proven to be highly effective in complicated ailments. In India, the government is encouraging the use of Ayurvedic products through education and awareness programs. Businesses are investing in innovative Ayurveda products and in marketing to create awareness about Ayurveda. There are Ayurvedic cigarettes and organic cigarettes available for people who chose to indulge in smoking without much impact on their health.
According to World Health Organisation, the United States and Europe are two major markets for herbal products in the world with a market share of 20% and 41%, respectively. In another report by Ken Research, “it has been estimated that 70% of Ayurvedic medicines by the patients is growing exponentially as well. The US Food & Drug Administration (FDA) has also introduced new guidelines for the sale of herbal supplement. Due to the side effects of conventional medicines, and lack of a cure for some chronic diseases, developed countries adopted Ayurveda medicines to ensure wellbeing. The growth of western medicine has decreased due to its limitations in recent years while the alternative medicine has picked up momentum due to a need for humanistic ways of treating the illnesses. The Ayurveda products are also usually, cruelty-free, unlike the chemical-based products. There are many international norms on animal testing can be restrictive for research on of new chemically-based products, which is an advantage for companies to focus on Ayurveda products.
Ayurveda is recognized as a life science and helps prevent and manage lifestyle disorders. Many universities across the globe have started diploma courses in Ayurveda. This indicates the acceptance and the increasing popularity of Ayurveda around the world. Besides Ayurveda, Asian therapies and sciences such as Yoga, acupressure, acupuncture etc, are growing rapidly. The medical industry is focusing on prevention of diseases rather than cure. Ayurvedic medicines stood the test of time. Ayurveda has been the main health care system in ancient India before the invention of modern medicine. Many generations have benefitted from Ayurveda, got cured and passed on the Ayurvedic remedies to the next generations with great confidence and pride.