The Indian ayurvedic market is anticipated to grow at a considerable CAGR of 15.6% during the forecast period. The COVID-19 pandemic has had a positive impact on the Indian market of Ayurveda. People looked at it as a preferred option to boost immunity and prevent infection from COVID-19. Availability of ayurvedic products in the market, with several dependent variables such as brand influence and improved immunity against COVID-19 coupled with safe and effective nature is considered as the major factor boosting the growth of the ayurvedic market. As a result of this, the key players serving the market also experienced a considerable increase, which directly increases the Indian ayurvedic market. For instance, in May 2021, despite the global lockdown, Dabur India Ltd. reported an increase of 10.0% in sales, as Indian consumers turned to immunity-boosting remedies such as Dabur's Chyawanprash and honey to handle health crisis.
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Furthermore, various government bodies operating in India are also inclined towards introducing new rules, regulations, and guides to propel the consumption of ayurvedic drugs. For instance, in July 2020, the Ministry of Ayush, a nodal Ministry of Complementary, and Alternative Medicine issued a set of guidelines to reinforce immunity and self-care measures using ayurvedic ingredients. Additionally, the Indian Prime Minister further addressed the nation, while stating the use and importance of Ayurveda in bolstering immunity against COVID-19. This has led to strong demand for ayurvedic medicines. State governments of Gujarat and Kerala, among others also initiated to allot ayurvedic remedies by opening several ayurvedic centers.
Indian Ayurvedic Market Report Segment
By Product Type
- Personal Care
o Hair Care
o Oral care
o Skin Care
- Heath Care
o Dietary Supplements
o Ayurvedic medicine/Drugs
By Distribution Channel
- Supermarket
- Pharmacies
- Departmental Stores
- Online Stores
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Company Profiles
- Dabur India Ltd.
- Patanjali Ayurved Ltd.
- Veda Ayurvedics Pvt. Ltd.
- Vicco Laboratories (The Aadya Enterprises)
- Charak Pharma Pvt. Ltd.
- Hamdard Laboratories (India)
- Forest Essentials
- Emami Group
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Kerala Ayurveda Ltd.
- Amrutanjan Healthcare Ltd.
- Sandu Pharmaceuticals Ltd.
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