The global ayurvedic supplement market is set for remarkable expansion, with industry experts forecasting a substantial valuation of USD 4,708.2 million by 2034. This impressive growth trajectory highlights a growing global fascination with traditional healthcare practices and natural remedies.
In 2024, the market achieved a significant valuation of USD 1,831.8 million, marking a pivotal milestone in its upward trajectory. Over the next decade, the ayurvedic supplement market is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 9.9%, reflecting a steady ascent in the industry.
Ayurveda, with its deep roots in ancient Indian medicine, has gained widespread attention as consumers increasingly seek holistic wellness solutions. This surge in market valuation underscores the growing global interest in traditional healing practices and natural remedies.
Several factors are driving the impressive growth of the ayurvedic supplement market. There is a heightened awareness of natural and organic products, a growing preference for preventive healthcare, and the rising popularity of holistic treatment methods. Consumers are increasingly turning to ayurvedic supplements for their proven benefits and natural origins, seeking alternatives to conventional medicine.
The projected market expansion is attributed to the rising awareness of the efficacy of Ayurvedic supplements in promoting overall health and wellness. Additionally, an increase in lifestyle-related health concerns and a preference for organic and plant-based products are further fueling demand.
Innovative product developments and strategic collaborations among key industry players are also contributing to market growth, with companies expanding their product portfolios and reaching broader consumer bases. This trend presents significant opportunities for innovation, research, and market expansion within the Ayurvedic supplement sector.
As the industry continues to evolve and captivate global attention, stakeholders, investors, and consumers are keenly observing this upward trend, anticipating transformative changes in the wellness and healthcare landscape.
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).
Increased Interest in Ayurvedic Supplement: Explore Our Detailed Report for Key Trends and Insights!
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)
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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