Ayurveda Market in India 2019

  • Report Code : NET1638751
  • Published On: May, 2020
  • Category : Goods & Services
  • Pages : 60

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  • In recent years, as a holistic healing system, ayurveda has witnessed evolution in the form of ayurvedic products and services. Rising awareness about the importance of a healthy lifestyle, increasing preference in favour of chemical-free natural products, as well as favourable government initiatives have led to the expansion of the Ayurveda market in India.

    Market insights:

    The Ayurveda market in India was valued at INR 300 Bn in 2018, and is expected to reach INR 710.87 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~16.06%, during the forecast period (2019-2024). In 2018, around 75% of Indian households used ayurvedic products as against only 67% in 2015. Of late, manufacturers have been using herbal ingredients in the production of personal care products like lotions, oils and shampoos. Players in the food processing industry are also making use of herbal ingredients in manufacturing products like packaged juices and nutritional supplements.

    Segmentation based on product usage:

    The Ayurveda market in India is segmented on the basis of Ayurveda products and Ayurveda services. Personal care products, food and beverages, household products and healthcare products fall under the Ayurveda products category. The Ayurveda services segment comprises healthcare services, and spa and rejuvenation services. In 2018, the Ayurveda products segment accounted for approximately 74% of the market, while the Ayurveda services segment held the remaining ~26%.

    Key growth drivers of the market:

    • To maintain a healthy lifestyle, consumers are increasingly preferring food products like herbal tea, oats, corn flakes, biscuits, cookies, spices, jam, and almond oil which are made of natural ingredients. With the increase in awareness about the harmful effects of chemicals on health, used in the production of popular conventional skin care, hair care, body care, and other beauty care products, a shift of preference among consumers has been observed in favour of herbal personal care products, which is driving the growth of the market.

    • The global acceptance of traditional practices of herbal and Ayurveda treatments has broadened the prospects of ‘Ayurveda tourism’ in India. As a result, many Ayurveda rejuvenation and therapeutic centres have been established in states like Kerala, Uttarakhand, Goa and Odisha.

    Key deterrents to the growth of the market:

    • Owing to adverse weather conditions, yield of high-quality herbal and medicinal plants is low in India. Also, excessive use of insecticides and pesticides degrades the quality of herbs with medicinal properties. Herbal and medicinal plants being the primary ingredients of all Ayurveda products, shortage of high-quality plants lead to deteriorating quality of these products and services.

    • The Ayurveda market in India consists of several players who do not adhere to the quality standards for the products and services offered. There are FPS (Finished Product Specifications), GMP (Good Manufacturing Practice) and ISO (International Organization for Standardization) for quality certifications in India. However, in most cases, regular tests are not carried out to check whether manufacturing guidelines are met. Also, there is a lack of proper scientific documentation of traditional Ayurveda practices.

    Competition analysis:

    Consumers often purchase Ayurveda products based on the quality and reputation associated with a brand. Therefore, in order to gain high sales volume and revenue in the market, a company needs to develop a strong brand image, which may prove to be difficult for a new entrant. Major players operating in the Indian Ayurveda products market include Dabur India Limited, Emami Limited, Patanjali Ayurveda Limited, The Himalaya Drug Company, Sandu Pharmaceuticals Limited, and Shahnaz Ayurveda Private Limited. Baidyanath, Dabur, and Emami together account for about 85% share of the country’s Ayurveda market. The top players operating in the Ayurveda services market in India include Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited, Ananda in the Himalayas, Kairali Ayurvedic Centre Private Limited, Mercure Goa Deevaya Retreat, and Ayurogashram Private Limited.

    Companies covered:

    • Dabur India Limited

    • Emami Limited

    • Sandu Pharmaceuticals Limited

    • Charak Pharma Private Limited

    • Herbolab India Private Limited

    • Himalaya Drug Company Private Limited

    • Nagarjuna Herbal Concentrates Limited

    • Patanjali Ayurved Limited

    • Shahnaz Ayurveda Private Limited

    • Shree Baidyanath Ayurved Bhawan Private Limited

    • Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited

    • Kairali Ayurvedic Centre Private Limited

    • Mercure Goa Deevaya Retreat

    • Ananda In The Himalayas

    • Ayurogashram Private Limited

     

  • With tables and figures helping analyze worldwide India market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

    Chapter 1: Executive summary
    1.1. Executive summary
    Chapter 2: Socio-economic indicators
    2.1. Socio-economic indicators
    Chapter 3: Introduction
    3.1. Market definition and structure
    Chapter 4: Market overview
    4.1. India ayurveda market size and growth forecast
    4.2. India ayurveda market segmentation
    4.3. Porter’s five forces analysis
    Chapter 5: Market influencers
    5.1. Key growth drivers of the market
    5.2. Key deterrents to the growth of the market
    Chapter 6: Government initiative
    6.1. Government Initiative – Ministry of AYUSH
    Chapter 7: Market trends
    7.1. Current trends in the market
    Chapter 8: Competitive landscape
    8.1. Dabur India Limited
    –Company information
    –Business description
    –Products/services
    –Key people
    –Financial snapshot
    –Key ratios
    –Key financial performance indicators
    –Key business segments
    –Key geographic segments
    Note: Similar information covered for all other public companies. Private companies' data given on best effort basis.
    8.2. Emami Limited
    8.3. Sandu Pharmaceuticals Limited
    8.4. Charak Pharma Private Limited
    8.5. Herbolab India Private Limited
    8.6. Himalaya Drug Company Private Limited
    8.7. Nagarjuna Herbal Concentrates Limited
    8.8. Patanjali Ayurved Limited
    8.9. Shahnaz Ayurveda Private Limited
    8.10. Shree Baidyanath Ayurved Bhawan Private Limited
    8.11. Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited
    8.12. Kairali Ayurvedic Centre Private Limited
    8.13. Mercure Goa Deevaya Retreat
    8.14. Ananda in the Himalayas
    8.15. Ayurogashram Private Limited
    Chapter 9: Product launches
    9.1. New product launches
    Chapter 10: Appendix
    10.1. Research Methodology
    10.2. About Netscribes
    10.3. Disclaimer

     

  • The India Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.

    Report Objectives / Segmentation Covered :
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          Research objectives

          Where will all these developments take the industry in the long

          To study and analyze the global Market consumption (value & volume) by key regions/countries, product type and application, history data from 2015 to 2019, and forecast to 2025.

          What are the future opportunities in the market?

          To understand the structure of Market by identifying its various subsegments.

          What are the major driving forces expected to impact the development of the market market across different regions?

          To analyze the market with respect to individual growth trends, future prospects, and their contribution to the total market.

          Which industry trends are likely to shape the future of the industry during the forecast period 2020-2025?

          To project the consumption of market submarkets, with respect to key regions.

          Who are the major driving forces expected to decide the fate of the industry worldwide.

          To strategically profile the key players and comprehensively analyze their growth strategies.

          What are the key barriers and threats believed to hinder the development of the industry?

          To analyze competitive developments such as expansions,agreements, new product launches, and acquisitions in the market.

          Who are the prominent market players making a mark in the market with their winning strategies?

          To share detailed information about the key factors influencing the growth of the market

          What will be the growth rate and the market size of the industry for the forecast period 2020-2025?

          Focuses on the key global market Vendors, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.

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