Global Ayurvedic Supplement Market Set to surge at 9.9% CAGR, to Reach US$ 4,708.2 Million by 2034 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Ever-increasing Penetration of Ayurvedic Medicine in Various Corners of the World is Helping the Ayurvedic Supplement Market to Grow .
NEWARK, Del, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The global ayurvedic supplement market valuation was US$ 1,831.8 million in 2024. As per recent analysis, the market is projected to exhibit a CAGR of 9.9% over the forecast period, with an estimated valuation of US$ 4,708.2 million by 2034.
Owing to the increasing popularity of plant-based and organic supplements, the market for ayurvedic supplements is set to grow at a healthy rate. The surge in health concerns and consumer aversion to the harmful effects of conventional medication is shifting customer preference toward ayurvedic supplements.
The shift from chemical-treated beauty products to Ayurveda-inspired beauty products has become a trend worldwide. People have gradually shifted toward organic skincare and haircare supplements with natural ingredients. The growing popularity of Ayurveda indicates that younger customers are interested in well-being on more than just a surface level. Thus, the demand for skincare supplements is helping ayurvedic supplements to grow.
Due to economic growth and rising disposable incomes, ayurvedic healthcare products have increased in profile notably over the past years. As a result, the market value of ayurvedic supplements has increased. In addition, the distribution of products by various networks has improved. Thus, products are easily accessible in multiple regions.
Government bodies are adopting various programs to raise awareness of Ayurvedic medicines. The market demand for ayurvedic supplements is further boosted by rising awareness of the value of leading a healthier lifestyle and increasing customer demand for chemical-free goods.
Key Takeaways from the Market Study:
Nutritional supplements are the leading product segment and are expected to hold a 28.9% market share in 2024.
The Capsules/tablets segment is set to lead in the form of ayurvedic supplements with a projected market share of 35.9% in 2024.
By distribution channel, e-commerce is leading in the ayurvedic supplements market, with a forecasted market share of 33.9% 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).
Ayurvedic Supplement Market Outlook:
Data Points
Market Insights
Market Value 2023
US$ 1,708.5 million
Market Value 2024
US$ 1,831.8 million
Market Value 2034
US$ 4,708.2 million
CAGR 2024 to 2034
9.9
%
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.
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
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 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)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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