Ayurvedic Products Market Overview
The ayurvedic products market is predicted to account for significant market value during the forecast period. Further, the global market is registered to hold 12% of CAGR in between the review period.
The growing population of women who are adopting minimal and natural makeup trends is projected to drive the global market growth during the research timeframe. Moreover, the manufacturers are giving their high focus on developing unique formulations and product innovations, which is expected to fuel the worldwide Ayurvedic Products Market. In addition, the rising inclination towards chemical-free herbal cosmetics among the population is expected to bring significant opportunities for the key vendors and market players.
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However, the worldwide market might get affected due to the lack of a killer instinct in the business of Ayurveda. Also, the lack of optimal treatments and rigorous rules might hamper the growth of the global market for Ayurveda products.
Ayurvedic Products Market Segmentation
As per the Ayurvedic Products Market report, the current market has been segmented on the basis of product type, application and propulsion types.
Based on the product type segment, the global market has been segregated into healthcare, personal care, and others. Of these, the personal care segment is anticipated to account for the largest market share throughout the research period.
In terms of the propulsion types segment, the Ayurveda market has been classified into e-commerce, specialty stores, supermarkets/hypermarkets, convenience stores, pharmacy stores, and others. Among these, the supermarkets/hypermarkets segment is projected to acquire the largest market share during the assessment timeframe. On the basis of the application segment, the market for ayurvedic products has been divided into specific qualities that involve GMO-free, vegan, organic, and others.
Ayurvedic Products Market Regional Analysis
Regionally, the Ayurvedic Products Market has been segmented into different regions such as Europe, Asia Pacific, North America, and other countries.
Out of all, the Asia Pacific market for Ayurvedic Products is projected to hold the largest market share during the review period. This region is expanding due to the rising demand for natural and herbal healthcare products and the large production of ayurvedic goods in the region. Moreover, this region has rising urbanization, which is predicted to promote the ayurvedic goods sale in the region.
The presence of countries like Sri Lanka, Indonesia, India, Myanmar, and others in the Asia Pacific region are contributing largely to the global Ayurvedic Products Market because of their long heritage of herbal medicines and products. As per the market report, India is projected to hold the largest market share by generating over US$ 1200 million of market value during the forecast period. In addition, the countries like China, Germany, the United States, France, and Canada are considered to be the top ayurvedic products importers.
Ayurvedic Products Market Competitive Analysis
The list of prominent players in the global ayurvedic products market includes companies such as
- Planet Ayurveda (India)
- Basic Ayurveda (India)
- Patanjali Ayurved Limited (India)
- The Himalaya Drug Company (India)
- Herbal Hills (India)
- Natreon Inc (U.S.)
- Dabur India Ltd. (India)
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In December 2019, India’s Patanjali spent Rs 4,350 crore (US$610 million) to purchase the bankrupt Ruchi Soya Industries. Currently, this industry is a mid-cap firm that has been listed on the BSE and NSE in India. Further, it is projected that it is one of India’s major producers of soybean products.
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