The global ayurvedic supplement industry demand is poised for substantial expansion, marking an impressive valuation of US$ 1,831.8 million in 2024 and forecasted to exhibit a remarkable Compound Annual Growth Rate (CAGR) of 9.9% over the coming decade. According to recent analysis by industry experts, this flourishing market is anticipated to soar to an estimated valuation of US$ 4,708.2 million by 2034.
The significant surge in valuation reflects a growing global interest in traditional healthcare practices and natural remedies. Ayurveda, with its roots in ancient Indian medicine, has gained prominence as consumers increasingly seek holistic approaches to wellness.
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“The projected growth of the Ayurvedic supplement industry underscores the shift towards natural and holistic healthcare solutions,” said Future Market Insights. “Consumers are increasingly drawn to the therapeutic benefits offered by Ayurvedic supplements, which often prioritize natural ingredients and holistic well-being.”
The projected expansion of this market is attributed to several factors, including rising awareness about the efficacy of Ayurvedic supplements in promoting overall health and wellness. Additionally, a surge in lifestyle-related health concerns and a growing preference for organic and plant-based products are further propelling the demand for Ayurvedic supplements.
Furthermore, the market’s growth is also influenced by innovative product developments and strategic collaborations among key industry players to expand their product portfolios and reach a wider consumer base.
The forecasted trajectory indicates immense potential for businesses operating within the Ayurvedic supplement sector, providing opportunities for innovation, research, and market expansion.
As the industry continues to evolve and captivate global attention, stakeholders, investors, and consumers are keenly observing this upward trend, anticipating a transformative landscape in the wellness and healthcare domain.
Key Takeaways from the Market Study:
- Nutritional supplements are the leading product segment and are expected to hold a 9% market share in 2024.
- Capsules/tablets segment is set to lead in the form of ayurvedic supplements with a projected market share of 9% in 2024.
- By distribution channel, e-commerce is leading in the ayurvedic supplements market, with a forecasted market share of 9% in 2024.
- Japan is predicted to be one of the leading countries in the market. For the 2024 to 2034 period, Japan’s CAGR is 9.1%.
- India and China are the other Asian countries marked with potential for the market. For the forecast period, the CAGR for China and India is projected to be 8.8% and 8.1%.
“Several businesses have launched products with nature-inspired components because of the market’s apparent high demand for natural ingredients. Additionally, leading market players are focusing on novel product development with an enhanced formulation that is effective due to increasing concerns among people about the side effects of conventional medication.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Market Competition:
There are numerous regional, up-and-coming, and established businesses in the ayurvedic supplement market, which is fragmented. Key players have started product launches and marketing activities to broaden the product line. Some prominent companies in the market.
Recent Developments:
- In March 2021, the Ayurveda brand Maharishi Ayurveda rolled out its digital advertisement campaign, featuring a celebrity face in Milind Soman to promote the product Amrit Kalash.
- In February 2020, Dabur India Ltd. brought out Dabur Keratex, a hair oil enriched with ayurvedic ingredients to control dandruff and nourish the dry scalp.
- In September 2021, NatureCode launched a new range of dry herbs and ayurvedic wellness products.
Key Companies Profiled:
- Maharishi Ayurveda India Products Private Limited
- Surya Herbal Ltd
- Gynoveda Femtech Private Ltd.
- Herbal Health Solutions
- Dabur India Limited
- Emami Limited.
- Veloce Herbals Pvt. Ltd.
- Riaan Wellness Pvt. Ltd.
- Global Healthfit Retail India LLP
- Pharma Science
- The Himalaya Drug Co.
- Tactus Nutrascience
- Relevium
- Organic Dehydrated Foods Pvt. Ltd.
- BACFO PHARMACEUTICALS (India) Ltd.
- Herbolab India Pvt Ltd
- Green Cross Health Innovation
- ManSure
- Banyan Botanicals
Key Market Segments Covered in Ayurvedic Supplements Industry Research:
By Product:
- Dietary Supplements
- Nutritional Supplements
- Men and Women Health Supplements
- Ayurvedic Skin Supplements
- Others
By Form:
- Capsules/Tablets
- Powder
- Syrups
- Oil and Ointment
- Other
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
- E-commerce
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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