The global ayurvedic supplement market is on the cusp of significant expansion, with industry experts forecasting an impressive valuation of USD 4,708.2 million by 2034. This substantial growth trajectory underscores the burgeoning interest in traditional healthcare practices and natural remedies worldwide.
In 2024, the market achieved a notable valuation of USD 1,831.8 million, marking a pivotal moment in its upward trajectory. Over the next decade, the market is predicted to grow at a remarkable Compound Annual Growth Rate (CAGR) of 9.9%, indicating a steady and robust ascent in the industry.
Ayurveda, deeply rooted in ancient Indian medicine, has gained widespread attention as consumers increasingly gravitate towards holistic wellness solutions. The surge in market valuation highlights this growing global interest in embracing traditional healing practices.
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The ayurvedic supplement market’s impressive growth is driven by several factors, including a heightened awareness of natural and organic products, increasing consumer preference for preventive healthcare, and the rising popularity of holistic treatment methods. Consumers are increasingly seeking alternatives to conventional medicine, turning to ayurvedic supplements for their proven benefits and natural origins.
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).
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.
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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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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