With a focus on health and wellness, Ayurvedic products have seen a rapid growth in personal care and healthcare products. Used for medicinal healing purposes, Ayurveda has become one of the most popular alternative science, and major global conglomerates can be seen introducing ayurvedic versions of their products in India as well as abroad. Having less side effects, ayurvedic products have been reported to detoxify the body, and its advantages are fuelling up its market share.
Now, according to a new study ‘Global Ayurvedic Products Market’ by Market Research Future, the share of vegan ayurvedic products is found to be growing at a higher rate during the forecast period owing to rising population of vegan consumers. Veganism has become a lifestyle of choice owing to the increasing awareness about animal cruelty, environment and health concerns. Several emerging brands are combining the power of natural and vegan ingredients to make their products totally toxin free as well as cruelty free. Personal care and healthcare segments form the majority of these products.
Manufacturer’s high focus on the product innovations has also resulted in wide range product offerings with better formulation attracting wider audience. Manufacturers are focusing on developing unique formulations and adding it to the existing product line to enhance the value of their product range. Technological strides and a keen focus on R & D have supported in increasing the market share of Ayurvedic health care products in the global market. Players emphasize on launching unique products to suffice the trending demand from the consumers’ side which has also led to increased sale of the product.
Besides vegan, organic ayurvedic products also hold a major share. Asia Pacific accounts for the major market share followed by North America. Some of the key players profiled in the report are Dabur India Ltd. (India), The Himalaya Drug Company (India), Natreon Inc (U.S.), Patanjali Ayurved Limited (India), Basic Ayurveda (India), Herbal Hills (India), Planet Ayurveda (India).