The Alternate Lifestyle: Why Consumers Want Ayurvedic Products

Ayurveda has been a part of India’s cultural and medical heritage for thousands of years. As a sustainable healthcare system, Ayurveda highlights the use of medicinal plants and herbs for internal healing, preventing illnesses and maintaining wellness. Its holistic approach - promotion of self care and its remedies and practices - helps in maintaining a balance within the body, mind and soul, making it highly sustainable and relevant in Indian markets and beyond.

As per a report by the Global Wellness Institute, the global wellness industry is now worth over $4.5 trillion and alternative healing practices like Ayurveda are a big part of it. In India, as per IMARC, the market size of Ayurvedic products reached Rs 626 billion in 2022 and is expected to reach Rs 1,824 billion by 2028, registering a CAGR of 19.3% during 2023-2028.

“One of the prime growth drivers of the Ayurvedic market was the COVID-19 pandemic, whose uncertainties made us value the importance of a healthy mind and body even more. The consequent rise in awareness about Ayurveda’s healing benefits among the masses has caused a massive shift in consumer trends and preferences towards herbal teas, herbal infusions and Ayurvedic health supplements and more,” says Akshi Khandelwal, Founder & CEO, Butterfly Ayurveda, a leading wellness brand for Ayurvedic & herbal teas, cookies, cakes, and medicines.

Further, a noticeable rise in the demand and supply of Ayurveda-based food and beverage products is being seen in the market in the post-Covid era as well.

Some key growth drivers contributing to the burgeoning of the Ayurveda market in India are:

> A surge in the adoption of Ayurveda in mainstream healthcare in India, with hospitals and clinics incorporating Ayurvedic treatments and therapies into their offerings.

> Increased focus on research and development - Ayurveda-inspired companies are now investing more in R&D to improve the quality and efficacy of their products.

3. The increased use of digital platforms for marketing and distribution along with Ayurveda-based digital health platforms.

4. The growth in the number of establishments of wellness centres and ‘yoga shalas’.

In such a scenario, Ayurveda-inspired brands are coming forward to contribute to the growth of the market by delivering freshly prepared foods, Ayurveda-inspired cakes and cookies, herbal teas & infusions that are made with no artificial ingredients, colors and scents, backed by R&D and FSSAI approved.?

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https://www.indiaretailing.com/2023/05/27/ayurveda-market-in-india-trends-and-growth-outlook/