According to a new report published by xResearch, titled, “Ayurvedic Products Market 2022- Industry Insights, Trends, Opportunity & Forecast, 2021–2030,” the global ayurvedic products market size is anticipated to witness exponential growth during the forecast period i.e.2022-2030.
Factors such as the surging demand for natural and organic products worldwide, the rapidly expanding medical tourism industry, the growing health concerns& awareness regarding the side-effects of western medicines among people, the increasing focus of governments across emerging nations on promoting the usage of ayurvedic products, the enhancing distribution network of ayurvedic products, the rising per capita expenditures of people on healthcare products across the globe, and the escalating emphasis of leading manufacturers on launching innovative ayurvedic products are majorly boosting the growth of the global ayurvedic products market.
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According to product type, the personal care products segment held largest share of the global ayurvedic products market in 2021. The segment is predicted to maintain its lead further in the market during the forecast period of 2022-2030. According to distribution channel, the supermarkets/hypermarkets segment acquired the largest share in the market in 2021. The segment is projected to continue to stay at the top during the forecast period of 2022-2030.The easy availability of a large number of well-assorted products in supermarkets and the increasing number of new supermarkets across the globe is primarily driving the growth of the supermarkets/hypermarkets segment.
Geographically, the Asia Pacific region dominated the global ayurvedic products market in 2021, followed by Europe and North America. The region is estimated to remain dominant throughout the forecast period of 2022-2030. India, Indonesia, Myanmar, Sri Lanka are among the key contributors to the market in the Asia Pacific region. On the other hand, the European region is predict6ed to achieve robust growth in the market during the forecast period of 2022-2030, mainly owing to the surging awareness and interest among people regarding India’s cultural customs & traditions, including ancient Sanskrit based ethnobotanical medicine scriptures in the region.
Some of the major ayurvedic products companies profiled in the report include Dabur India Ltd., The Himalaya Drug Company, Natreon Inc., Emami Group, Maharishi Ayurveda, Baidyanalh, Shahnaz Husain Group, Vicco Laboratories, Amrutanjan Healthcare, and Charak Pharma.
The global ayurvedic products market is segmented into product type, mode of sales, market type, application, distribution channel, and region. Based on product type, the market is bifurcated into personal care products and healthcare products. The personal care products segment is further classified into hair care & fragrances, skin care, oral care, and make-up. The healthcare products segment is further categorized into ayurvedic medicines, ayurvedic nutraceuticals, and dietary supplements. Based on mode of sales, it is classified into retail sale and online sale. Based on market type, it is classified into organized and unorganized. Based on application, it is classified into cancer treatments, respiratory disorders, mental health, nervous system disorders, diabetes, skin diseases, cardiovascular diseases, autoimmune diseases, and other applications. Based on distribution channel, it is classified into supermarkets/hypermarkets, specialty stores, pharmacy stores, convenience stores, e-commerce, and others.
The global ayurvedic products market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Ayurvedic Products Market
- On the basis of product type, the personal care products segment held largest share of the global ayurvedic products market in 2021. The segment is predicted to maintain its lead further in the market during the forecast period of 2022-2030.
- On the basis of distribution channel, the supermarkets/hypermarkets segment acquired the largest share in the market in 2021. The segment is projected to continue to stay at the top during the forecast period of 2022-2030.
- On the basis of region, the Asia Pacific region dominated the global ayurvedic products market in 2021, followed by Europe and North America. The region is estimated to remain dominant throughout the forecast period of 2022-2030.
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