Better understanding of natural and alternative therapies, and adverse effects of allopathy has resulted in consumers drifting towards Ayurvedic health and personal care products. From health supplements to shampoos to sports drinks, Ayurvedic ingredients, such as turmeric, have become a main component of mainstream products. A similar trend of products preferred containing natural ingredients is observed in North America, where startups are launching beverages and food with turmeric as a major ingredient. In addition, North Americans prefer South Asian medicines owing to dissatisfaction with conventional medicines.
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Globally, the demand for Ayurvedic products is on a continuous rise, which has led to the emergence of Ayurvedic centers in the U.S. and Europe. Within the Asia-Pacific region, India has attained global prominence for its wide Ayurvedic product range, thereby becoming a preferred destination for medical tourism. It holds a negligible share in the overall Ayurvedic products market, as quality standards are not maintained according to international specifications. However, the Government of India is taking initiatives to increase this share, for instance, it has setup Ministry of AYUSH to ensure the optimal development and propagation of Ayurveda. China also has history of this ancient science, and is a major market for Ayurvedic products.
Factors driving consumer preference for Ayurvedic products are rising awareness regarding their benefits, increasing cognizance about ill-effects of allopathy, easy availability, and growing disposable income. Lack of R&D for high yielding varieties, irregular supply of raw material, absence of a standardized procedure to manufacture Ayurvedic products, and safety regulations are major challenges faced by the market players. Increase in knowledge about natural ingredients in health and personal care products in developed countries, namely the U.S., Canada, Australia, Singapore, and Japan, offers growth opportunity for Ayurvedic products manufacturers.
The world Ayurvedic health and personal care products market is segmented based on product type, end user, distribution channel, and geography. Based on product type, it is bifurcated into Ayurvedic healthcare products and Ayurvedic personal care products. Personal care products comprise hair care, skin care, oral care, and baby care products. Women, men, and babies are the prime users of Ayurvedic products. These products are distributed through supermarkets, department stores, drug stores, beauty salons, specialty stores, direct selling, and Internet retailing. The market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key players profiled in this report are Maharishi Ayurveda Products Ltd., Dabur India Ltd., The Himalaya Drug Company, Herbal Hills, Biobaxy Technologies India, Planet Ayurveda, Basic Ayurveda, Natreon Inc., and Arvincare.
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