Ayurveda Market Size, Share, Industry, & Growth Report 2031

Ayurveda Market Size, Share, Industry, & Growth Report 2031

Segments - Ayurveda Market by Distribution Channels (Pharmacies, Supermarkets, Departmental Stores, Internet Retailing, Beauty Spa/Salon, and Specialty Stores), Products (Personal Care, Healthcare, Skin Care, Hair Care, Oral Care, and Drugs), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Vishal Golekar

Upcoming | Report ID :HC-4178 | 4.2 Rating | 55 Reviews | 160 Pages | Format : PDF Excel PPT

Report Description


Ayurveda Market Outlook 2031

The global ayurveda market size was valued at around USD 7.65 Billion in 2022 and is expected to reach around USD 28.38 Billion by 2031, expanding at a CAGR of 15.68% during the forecast period, 2023–2031. The growth of the market is attributed to increasing awareness regarding the side effects of allopathic medicines among people.

Ayurveda is a traditional Indian system of ayurvedic medicine. It is used for natural healing practices and to cure clinical conditions, including cough, depression, sinusitis, and insomnia. Ayurveda is a practice of alternative medicine, which comprises natural herbs, plant-based medicines, and spices. Ayurvedic products are used in health supplements and personal care products.

Ayurveda Market Outlook

Ayurvedic therapies have been integrated in medical use and general wellness. The main focus of ayurvedic medicine is help human beings to maintain healthy and strong life without depending upon any complicated surgeries, remedies, and painful interferences. Ayurveda serves the goal of general wellness, and many people practice it in nations such as Nepal, Myanmar, and Sri Lanka.

The COVID-19 pandemic negatively affected human lives and caused financial crisis at unprecedented levels across the globe. The pandemic attracted the attention of many people towards ayurveda to build immune system against disease-causing viruses and bacteria.

Ayurveda cures respiratory illnesses with the help of herbal decoctions, leading to good practices such as gargling with medicated water and steam inhalation. Ayurveda has the potential to combat coronavirus and it is an adjunct ayurvedic treatment option for several diseases.

  • Growing awareness about the benefits and easy availability of products is expected to drive the market.
  • Expanding medical tourism is projected to propel the market during the forecast period.
  • Inconsistent supply of raw materials is anticipated to hinder the market.
  • Inadequate knowledge about ayurveda science in western countries is expected to hamper the market in the coming years.
  • Standardization of ayurvedic medicines and increasing investments for R&D are projected to create lucrative opportunities for market players. 

Scope of Ayurveda Market Report

The report on the global Ayurveda Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Ayurveda Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Distribution Channels (Pharmacies, Supermarkets, Departmental Stores, Internet Retailing, Beauty Spa/Salon, and Specialty Stores), and Products (Personal Care, Healthcare, Skin Care, Hair Care, Oral Care, and Drugs)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Charak Pharma Pvt. Ltd.; Patanjali Ayurved Limited; Vicco Laboratories; Dabur India Limited; Leverayush; Emami Limited; SHREE BAIDYANATH AYURVED BHAWAN PVT. LTD.; and The Himalaya Drug Company

Ayurveda Market Segment Insights

Supermarkets segment to expand at a considerable CAGR

On the basis of distribution channels, the ayurveda market is segmented into pharmacies, supermarkets, departmental stores, internet retailing, beauty spa/salon, and specialty stores. The supermarkets segment is projected to expand at a considerable CAGR during the forecast period, due to affordability and easy availability of several products.

The beauty spa/salon segment is anticipated to account for a major market share during the forecast period, owing to growing awareness of the benefits of ayurvedic products. 

Healthcare segment to hold a significant share of the market

Based on products, the ayurveda market is divided into personal care, healthcare, skin care, hair care, oral care, and drugs. The healthcare segment is expected to hold a significant share of the market in the coming years, due to growing awareness regarding adverse effects of allopathy among consumers.

The
personal care segment accounts for a significant market share, due to increasing awareness about ayurvedic natural ingredients in personal care products.

Ayurveda Market Products

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the ayurveda market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period, owing to increasing health and wellness tourism.

The market in North America is anticipated to expand at a rapid pace during the forecast period, due to increasing investments for research and development in the market.

Ayurveda Market Region 

Segments

The global ayurveda market has been segmented on the basis of

Distribution Channels

  • Pharmacies
  • Supermarkets
  • Departmental Stores
  • Internet Retailing
  • Beauty Spa/Salon
  • Specialty Stores

Products

  • Personal Care
  • Healthcare
  • Skin Care
  • Hair Care
  • Oral Care
  • Drugs

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the global ayurveda market share are Charak Pharma Pvt. Ltd.; Patanjali Ayurved Limited; Vicco Laboratories; Dabur India Limited; Leverayush; Emami Limited; SHREE BAIDYANATH AYURVED BHAWAN PVT. LTD.; and The Himalaya Drug Company.

Key players are deploying organic growth strategies and product launches to compete in the market. These companies also adopt acquisitions and collaborations to boost their market share.

  • In December 2019, Patanjali purchased Ruchi Soya Industries., which is a major producer of soybean products. In India, it is a mid-cap firm listed on the BSE and NSE.

  • In December 2020, Emami announced the expansion of its healthcare portfolio under the Zandu brand into several new markets.   

Ayurveda Market Key Players

Frequently Asked Questions

Key players competing in the global ayurveda market are Charak Pharma Pvt. Ltd.; Patanjali Ayurved Limited; Vicco Laboratories; Dabur India Limited; Leverayush; Emami Limited; SHREE BAIDYANATH AYURVED BHAWAN PVT. LTD.; and The Himalaya Drug Company.

Asia Pacific is expected to constitute a key share of the market during the forecast period.

The global ayurveda market is anticipated to expand at a CAGR of 15.68% during the forecast period, 2023–2031.

Growing awareness about the benefits and easy availability of products is expected to drive the market.

The global ayurveda market size was valued at USD 7.65 billion in 2022, and is expected to reach USD 28.38 billion by 2031 during the forecast period, 2023–2031.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ayurveda Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ayurveda Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ayurveda Market - Supply Chain
  4.5. Global Ayurveda Market Forecast
     4.5.1. Ayurveda Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ayurveda Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Ayurveda Market Absolute $ Opportunity
5. Global Ayurveda Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Ayurveda Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Ayurveda Demand Share Forecast, 2019-2026
6. North America Ayurveda Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Ayurveda Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Ayurveda Demand Share Forecast, 2019-2026
7. Latin America Ayurveda Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Ayurveda Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Ayurveda Demand Share Forecast, 2019-2026
8. Europe Ayurveda Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Ayurveda Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Ayurveda Demand Share Forecast, 2019-2026
9. Asia Pacific Ayurveda Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Ayurveda Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Ayurveda Demand Share Forecast, 2019-2026
10. Middle East & Africa Ayurveda Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Ayurveda Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Ayurveda Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Ayurveda Market: Market Share Analysis
  11.2. Ayurveda Distributors and Customers
  11.3. Ayurveda Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Charak Pharma Pvt. Ltd.
     11.4.2. Patanjali Ayurved Limited
     11.4.3. Vicco Laboratories
     11.4.4. Dabur India Limited
     11.4.5. Leverayush
     11.4.6. Emami Limited
     11.4.7. SHREE BAIDYANATH AYURVED BHAWAN PVT. LTD.
     11.4.8.  

Methodology

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