Global Ayurvedic Herbs Market is Expected to Grow at a CAGR of12.9 % from 2021 to 2028

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The global ayurvedic herbs market is expected to be driven by increasing demand for natural products, increased health consciousness among customers, and global growing medical tourism. When used for a prolonged period, the ayurvedic herbs are known to cure the diseases from the root. This is expected to contribute to market growth during the forecast period. Increasing per capita spending, rising incomes, and increasing investments in healthcare products R&D are expected to have a positive impact on market growth.

The global ayurvedic herbs market size is estimated at 20.2 USD billion by 2028 and is anticipated to grow at a CAGR of 12.9 % during the projected time frame (2021-2028). Herbs are the core components of Ayurveda. Ayurved is the traditional practice of medicine in India. Around 75% of Indians use some form of medicine derived from Ayurveda. Ayurvedic herbs can be used for skin care, mental disorders, hair care, healthcare, liver disorders, immune system functioning, and others.

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OVERVIEW

Optimum therapeutics, lack of stringent regulations and a killer instinct in Ayurveda can restrain the ayurvedic herbs market growth. Also, absence of scientific validation for Ayurveda in countries such as US, where it is not regulated or licensed can hinder the market growth. However, continuous advancements in technology, practical developments in ayurvedic herbs, and untapped emerging markets can provide market growth opportunities.

The COVID-19 pandemic is expected to have a positive impact on ayurvedic herbs market with increasing consumer awareness about healthy lifestyle and the necessity to build strong immune system. People are continuously shifting towards preventive healthcare to build a strong immune system. Ayurvedic herbs play a significant role in building immune system and body health to fight various infections. This expected to drive the market growth during the forecast period.

Market Segmentation of Ayurvedic Herbs Market

Product Type of Ayurvedic Herbs Market

By product type, the market is classified into healthcare and personal care. The healthcare segment is expected to dominate the market during the forecast period due to increasing consumer awareness about the medicinal properties of ayurvedic herbs and side effects of western medicines. For instance, ashwagandha (Withania somnifera) reduces stress, anxiety, cortisol level.

Application Analysis of Ayurvedic Herbs Market

By Application, the market is divided into skin care, heart disorders, digestive problems, autoimmune diseases, cancer, and others. The digestive problems segment is expected to hold the largest market share during the forecast period. With regular consumption of ayurvedic herbs, the functioning of digestive system can be improved regulating the metabolic activities. Increasing demand for herbs related to digestive issues is expected to contribute to segment growth. Herbs such as fennel, cumin, asafetida, turmeric are used for indigestion.

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Distribution Channel of Ayurvedic Herbs Market

By distribution channel, the ayurvedic herbs market is classified into offline and online. The offline segment is expected to dominate the market during the forecast period. Consumers prefer fresh herbs for healthcare treatments. Offline stores are easily accessible and consumers can easily verify the products before making a purchase. This is expected to contribute to segment growth during the forecast period

Regional Analysis of Ayurvedic Herbs Market

By region, the ayurvedic herbs market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, South America. Asia Pacific is expected to hold the share in ayurvedic herbs market during the forecast period. The regional market dominance can be because the origin of ayurvedic herbs is Asia Pacific and most herbs are found in the region. Most of the regional population relies on ayurvedic medicine, which is also expected to contribute to market growth.

Key Development

  • In May 2021, Dabur India launched a new ayurvedic product named Anu Tailam, an ayurvedic nasal drop. This product is a unique blend with ayurvedic ingredients, ready to use nasal drop gives fast and long-lasting relief from nasal congestion headache.
  • In March 2021, eBay partnered with Kerala Ayurveda to expand its business in the US market and other countries to bring innovative ayurvedic solutions at a global level. The program was certified by the states of Washington and California.
  • In September 2020, Lotus Herbals announced 100% acquisition of Soultree, an organic skin-care and make-up company of Vedicare Ayurveda.
  • In December 2019, Dabur India launched two breakthrough products – Ratanprash, a health restorative and Hridayasava, a special medicine for improving heart health to popularize Ayurveda among modern customers.

Market Segmentation

By Product Type

  • Healthcare
  • Dietary Supplements
  • Ayurvedic Medicine
  • Food & Beverage
  • Personal Care
    • Skin Care
    • Oral Care
    • Hair Care & Fragrances

By Application

  • Skin Care
  • Heart Disorders
  • Digestive Problems
  • Autoimmune Diseases
  • Cancer
  • Others

 

By Distribution Channel

  • Offline
  • Online

By Region:

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

Key Companies listed

The major companies listed in the ayurvedic herbs market include Dabur India Ltd., Patanjali Ayurved Limited, Baidyanath Group, Vicco Laboratories, Zandu Pharmaceuticals, Hamdard Laboratories, and Amrutanjan Healthcare, others.

These companies are spread over North America, Europe, South America, and Asia Pacific markets, which empowers it to take into account clients over the globe. The company’s leading position in the Ayurvedic Herbs Market is endorsed by its wide product portfolio.

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