The Ayurvedic Healthcare Market size is valued at USD 7920.75 Billion in 2022 and is projected to reach USD 24909.26 Billion by 2030, growing at a CAGR of 16.5%.
The Ayurvedic market is growing rapidly, conceding to the growing awareness of the population about the side effects of allopathic medicines. Ease of availability and rising awareness of product benefits are pushing a positive impact factor on market growth.
Global Ayurvedic Healthcare Market Overview:
The growing medical tourism is also contributing to the higher growth of the market. The Global Ayurvedic Market report provides a comprehensive assessment of the market for the forecast period.
Ayurveda is an ancient Indian system of medicine that originated from the word Ayurveda which comes from the heart of the Indian subcontinents.
It consists of spices, medicinal plants and natural herbs and is an alternative medicine practice.
Almost 80% of Indians practice some form of traditional medicine, a class that incorporates Ayurveda. These therapies are contracted all over the world to serve the purpose of general wellness.
The main objective of Ayurvedic medicines is to enable the human race to live long, healthy and strong lives without depending on remedies, painful interferences or complicated surgical procedures.
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Ayurveda ingredients are widely applicable in cosmetics, personal care products, health supplements, oral care products and medicines.
Key Trends: Growth Drivers and Challenges:
Some of the major driving forces for the growth of the market involve increasing demand for organic and natural products, increased consumer awareness and rising demand for Ayurvedic cosmetics, expanding medical tourism globally.
Organic skin care products are gaining momentum and the market is expected to grow further.
Additionally, to expand the consumer base, anti-aging and anti-rabies creams are expected to drive the market growth.
Growing medical tourism globally is expected to propel the growth of the global Ayurvedic market.
Some restrictions and hurdles encountered will hinder the growth of the market.
The factors such as lack of optimal therapeutics, stringent regulations and lack of killer instinct in the Ayurvedic industry are the potential restraints limiting the overall growth of the global Ayurvedic market.
Nevertheless, continuous advancements in technologies, practical developments in Ayurvedic medicines and the untapped potential of emerging markets provide favorable growth opportunities.
Global Ayurvedic Market Segment Analysis:
Based on the product
Oral care products
Hair care products
Health care products
Spa or beauty salon
Based on region
North America (US, Canada), Europe (UK, France, Spain, Italy, Germany), Asia-Pacific (India, China, Japan, South Korea, Australia), Latin America (Mexico, Brazil) , Middle East and Africa (UAE, Saudi Arabia, South Africa)
The global Ayurvedic market is classified into North America, Asia-Pacific, and Europe. Asia-Pacific holds the largest market share.
The rich tradition of herbal medicine led by India, Myanmar, Indonesia, Sri Lanka and others.
Presence of established Ayurvedic manufacturing units, strong government initiatives and ongoing projects will drive the market in APAC region.
Charak Pharma Pvt. ltd.
Patanjali Ayurvedic Limited
Dabur India Limited
Shree Baidyanath Ayurved Bhawan Pvt. ltd.
Himalaya Pharmaceutical Company
In April 2021, to promote AYUSH systems globally, the Ministry of AYUSH signed country-to-country MoUs with 18 countries for cooperation in traditional medicine and homeopathy, as well as MoUs for collaborative research collaboration and MoUs for the establishment of AYUSH Academic Chairs at international universities. .
Another option is the AYUSH Information Cells, which are located in about 28 countries and disseminate information about AYUSH systems.
In June 2021, Marico, a major consumer products company, said on July 14 that it had acquired a 60% stake in Apcos Naturals Private Limited for an undisclosed amount. Just Herbs is an Ayurvedic beauty brand created by Apcos Naturals Private Limited, which was co-founded by CEO Arush Chopra and Chief Brand Officer Megha Sabhlok in 2010.
Main questions answered by the report:
What are the key drivers driving the growth of the global Ayurvedic market?
Who are the top key players in the global Ayurvedic market?
Which region holds the largest market share for the global Ayurvedic market?
Key takeaways from the report:
Qualitative and quantitative analysis of the regional segment of the global Ayurvedic Market.
Market dynamics and growth opportunities.
A market value of $7920.75 billion in 2022 is expected to reach a market value of $24909.26 billion in 2030 with a growing CAGR of 16.5%.
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