Overview:
Ayurveda is one of the oldest holistic natural healing systems that originated in the Vedic culture of India. It is based on the belief that a person’s health and wellbeing depends on a proper balance between the mind, body, environment, and spirit. Ayurveda is considered to be a very powerful and sophisticated mind-body health system. It not only cures specific health issues but also promotes overall wellbeing. This traditional Indian form of medicine and a perennial naturopathic system has gained good popularity across the globe. It has not only survived the test of time but also the modern methods of treatment. Report analysts believe that the global market for Ayurvedic service will show tremendous improvement over the forecast period and grow at 11.9% CAGR in terms of revenue.
In the Ayurvedic system, diseases are analyzed and cured after studying a person’s body type, appearance, heartbeat pattern, vision, and more. The treatment is done by using beneficial plants and herbs, eating a healthy diet, following a workout routine, and making important lifestyle changes. Ayurveda offers healthcare as well as personal care products. Ayurvedic nutraceuticals, dietary supplements and Ayurvedic medicines come under the healthcare range. The market for personal care products is divided into skin care, hair care, oral care, make-up, and fragrances. The use of Ayurvedic medicines and products is increasing in India and other countries as they are natural and have no side effects. Many companies in India are focusing on developing useful and innovative Ayurvedic products and also creating more awareness among consumers.
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Key Players
A glimpse of the competition prevailing in the global Ayurvedic service market can be arrived at through the report. This part of the study has used SWOT analysis tools to narrow down the strengths, weaknesses, opportunities, and threats of each market player
Patanjali Ayurved Limited (India)
Dabur (India)
Emami Group (India)
Himalaya Drug (India)
Maharishi Ayurveda (India)
Baidyanalh (India)
Shahnaz Husain Group (India)
Vicco Laboratories (India)
Amrutanjan Healthcare (India)
Charak Pharma (India)
Botique (India)
Herbal Hills (India)
Basic Ayurveda (India)
Natreon (United States)
Segmentation:
The global market for Ayurvedic service is segmented by types and applications.
Based on types, the market is divided into health care, oral care, skin care, and others. Economic growth in the developing regions and increased awareness about natural products have boosted their demand.
Based on applications, the market is divided into men, women, and kids. Different types of Ayurvedic products are available for addressing a range of issues in kids and adults.
Regional Analysis:
The important regions considered in this report for analyzing the global market for Ayurvedic services include America (The United States, Canada, Brazil, and Mexico), Europe (France, Italy, Germany, UK, Russia, and the rest of the region), Asia-Pacific (India, Japan, China, Korea, Southeast Asia, and Australia), and the Middle East and Africa (South Africa, Egypt, Turkey, Israel, and GCC countries).
Asia-Pacific has the largest market share for Ayurvedic products as herbal medicines are popularly used in India, Sri Lanka, Indonesia, and other countries in the region. India is the main country, with a market value of about US$ 1200 million. India also exports Ayurvedic products to many countries around the world. Russia is the second-largest market, followed by Europe as there is a growing demand for natural therapies and remedies in these regions. The Middle East and Africa region is expected to show good growth over the forecast period.
Industry News:
The global market for Ayurvedic service is likely to grow from US$ 1170 million in 2017 to US$ 2290 million by 2023.
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