According to TechSci Research report “ India Ayurvedic Products Market By Product Segment, By Organized vs. Unorganized, Competition Forecast & Opportunities, 2011 – 2021”, the country’s Ayurvedic products market is projected to register a CAGR of 16% during 2016 - 2021.
India Ayurvedic Products Market Forecast 2021 - brochure
1. M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
India Ayurvedic Products Market By Product
Segment, By Organized vs. Unorganized,
Competition Forecast & Opportunities, 2011 –
2021
8. I n d u s t r y B r i e f
8
Ayurvedic Products Market to Grow at 16% through 2021
According to a recently released TechSci Research report, “India Ayurvedic Products Market Forecast &
Opportunities, 2011 - 2021”, India Ayurvedic products market is projected to register a CAGR of 16% during
2016-2021. Introduction of Ayurvedic nutraceuticals & dietary supplements as well as Ayurvedic cosmetics
& skin care products is likely to boost the market over the next five years. Moreover, rising health concerns
and awareness of side-effects of allopathy are few of the major factors driving consumer preference for
Ayurvedic products in the country. Rising number of exclusive showrooms and increasing availability of
Ayurvedic products at multi-branded stores is also boosting sales of Ayurvedic products in the country.
India has attained global prominence for its vast Ayurvedic product range and is emerging as a preferred
destination for medical tourism. The country’s southern region attracts large number of tourists for
Ayurvedic treatments as the region has more than 100 government-run Ayurvedic hospitals along with
several private health centers, around 750 dispensaries and more than 800 registered Ayurvedic
medicine manufacturing units. In 2015, Ayurvedic personal care market grabbed the largest revenue share
on account of increasing popularity of Ayurvedic cosmetics and skin care products in India.
“Ayurvedic products are gaining popularity in India and across the globe due to the natural medicinal
benefits they offer without any side effects. Apart from this, Government of India is encouraging &
promoting usage of Ayurvedic products through education and national awareness programs. Various
manufacturing companies are focusing on developing innovative Ayurvedic products and investing in
marketing strategies in order to generate awareness and increase their brand value as well as sales. All
these underlying factors are anticipated to drive Ayurvedic products market in the country over the next
five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.