Ayurveda Market Is Expected Accrue An Incremental Growth Owing To Growth of Awareness And Government Support For Traditional Medicine

Pune, India, June, 2022 /press release/- Market Research Future Published an Global Ayurveda Market Research Report.

Market Scenario

According to projections, the ayurveda market would grow at a 15.01% CAGR from 2023 to 2032, reaching USD 27.9 Billion. Ayurveda is a traditional Indian system of medicine used by almost 80 percent of people in India.

Market Outlook

The Ayurveda sector in India is thriving owing to the rising popularity of naturally nourishing foods such herbal teas, oats, corn flakes, biscuits, jam, and cookies. The worldwide popularity of Ayurveda and other forms of herbal medicine-based treatment has contributed to the growth of the Ayurveda sector in India. The public's increasing awareness of the benefits of Ayurveda has contributed to a rise in demand for its goods. Chronic disorders like rheumatoid arthritis, allergies, cardiovascular disease, and others are becoming more common. The market for Ayurveda products is expected to expand as a result of rising consumer awareness of the potential health concerns connected with the chemicals used in mainstream products like conventional skincare, haircare, and body care and their preference for organic alternatives in medication.

Weather conditions in India are making it difficult to grow high-quality herbs and medicinal plants. Furthermore, excessive use of herbicides and insecticides lowers the quality of plants with therapeutic characteristics. The depletion of high-quality herbal and medicinal plants is having a detrimental effect on the Ayurveda market's worth and expansion.

The spread of COVID-19 has impacted virtually every sector of the economy. However, this pandemic is good for the Ayurveda industry. In light of the recent COVID-19 epidemic, shoppers everywhere are trying to fortify their diets and boost their immunity. Due to the increased demand for food supplements and immune boosters, Ayurveda's market share climbs during pandemics.

Segmental Analysis

The Ayurveda market segmentation, based on form, is divided into herbal, herbomineral, and mineral. 

The market segment of Ayurveda, based on the source, is divided into vegetables and animals & minerals.

The market segment of Ayurveda, based on application, is divided into medicinal and personal care.

The market segment of Ayurveda, by disease pattern, has been divided into the respiratory system, nervous system, gastrointestinal tract, cardiovascular system, infectious diseases, skeletal system, and skin & hair.

The market segment of Ayurveda, by end-user, has been divided into academia & research and hospitals & clinics.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Ayurveda Market Research Report

Regional Overview

The Global Ayurvedic Market is segmented into North America, Europe, Asia Pacific, and Rest of the World based on geographic location.

In 2021, consumer health awareness in North America grew at twice the rate of any other region. People's perspectives on eco-friendly items are changing as a result of a tidal wave of environmental consciousness. This is because of people's fears regarding the detrimental effects of alternative treatments. Because of this, the product has been able to make a bigger splash in the American market.

Asia-Pacific controls the major share of the global market. As the industry's developer and originator, Asia Pacific, and particularly India, is expected to be the major market for Ayurvedic medicines in the coming years. As more and more Ayurvedic medication is produced using modern techniques, the global market will expand, benefiting manufacturers in India and elsewhere. Due to the increasing availability of Ayurvedic medicines and other herbal products from major global companies, the Ayurvedic medicines market is expected to rise significantly in South and East Asia in the coming years. Ayurvedic medicine has the potential to promote global health because it can alleviate many different conditions.

Competitive Dynamics

Prominent players in the market include Leverayush, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Himalaya Drug Company, Kerala Ayurveda Ltd., Amrutanjan Healthcare Limited, Hamdard Laboratories, Forest Essentials. among others.