India Alternative Medicines & Herbal Products Market Report – 2021 : Ken Research
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How the Alternative Medicine & Herbal Products Market Is Positioned? Nature has bestowed India with an enormous wealth of medicinal plants and knowledge of herbs & Vedas, which made India as the Medicinal Garden of the world. In last few years the country has witnessed a tremendous increase in the demand of herbal products & alternative medicines. The India herbal products market comprises of herbal hair care, herbal skin care, herbal oral care and other products such as digestive remedies, Chyawanprash and balms India alternative medicine & herbal products witnessed a robust growth in past few years. Market increased at a CAGR of ~ % during FY’2011 to FY’2016. In FY’2016, the market has accounted for INR ~ billion. Changing lifestyle of the people, rising stress levels at workplaces leading to ailments such as body cramps, Spondylosis and joint pains, greater inclination towards beauty needs encourage people to buy nature based remedies and products, thus supporting the market of alternative medicines and herbal products.
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Increasing number of Indian and foreign companies in this segment and their expanding product line h has triggered the revenues of the Alternative medicines & herbal products market. Additionally, surging foreign direct investment in the country has given entry to many international brands. FMCG (fast moving consumer goods) manufacturing companies are viewing natural and herbal based products as a point of differentiation in the market. The leading players in herbal products segment are Dabur, Patanjali, Himalaya drug company, Emami, Marico, Baidyanath and others. The market for alternative medicines is dominated by Dabur, Himalaya, Patanjali, Baidyanath and other companies. Booming E-tail industry, growing male grooming segment, changing lifestyle, expanding urban areas, rising stress level at work place are How Alternative Medicines Market of India is Performing? The alternative medicines market encompasses of ayurveda, unani, homeopathy and siddha systems of medicines. The alternative medicine market has witnessed a robust growth over the past few years. The herbal medicine market is majorly driven by the growing adoption of preventive care as a safe and effective strategy to improve health and well being. Also, the rising prevalence of lifestyle diseases such as cardiovascular, diabetes & others and the high cost of health treatments have encouraged consumers to take preventive therapeutics such as herbal medicine & herbal treatments.
The market has increased from INR ~billion in FY’2011 to INR ~ billion in FY’2016, growing at a CAGR of ~% during the period. The rising government support (AYUSH Ministry) to promote Ayurvedic medicines has accelerated the demand of these medicines. Additionally, the rising number of AYUSH and Ayurvedic hospitals has also triggered the size of the industry. The alternative medicines market is majorly dominated by Dabur The other companies are Himalaya, Baidyanath, Patanjali, Hamdard and others. The strong marketing & strategy initiatives taken by the companies have led to increase the awareness among the population thus positively impacting the market. The growing investment by the government and private players in developing herbal medicines based on traditional texts which would help in curing specific diseases such as flu, gastrointestinal ailments and life threatening diseases such as tuberculosis, cancer and others would impel the growth of herbal medicine market in the years ahead. Herbal drugs constitute a major share in all AYUSH medicines expect homeopathy. In India, more than 70% of the population uses alternative medicines either for preventive purpose or curing purpose. Also, it has been anticipated that the number of AYUSH hospitals, Ayurvedic centers and Yoga centers will increase in coming future which will drive the market size. The government has plans to open AYUSH institutes in every district of the country.
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What is the Role of Herbal Hair Care Market in the India in ALternative Medicine & Herbal Products Market iNdustry? The Indian herbal hair care market has evolved as a potential profit making market for marketers with companies such as Dabur, Himalaya focusing on only natural products which have been increasingly penetrated in the marketplace now, primarily due to rising awareness about the potential benefits and word of mouth. During the past few years herbal hair care has driven the overall market of herbal products in the country. Rising hair problems due to increasing pollution, stress, rising percentage of chemical used in synthetic products has triggered the demand of herbal hair care products in India. Herbal hair care market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. Additionally, the companies in this sector are heavily investing in marketing & promotional activities. Strong celebrity endorsements by the companies such as Himalaya, Dabur, Emami and others have encouraged the population to go for herbal hair products. Herbal hair oil has contributed majorly in the revenues of the herbal hair care industry. Herbal shampoo is the second largest contributor with a share of ~% to the total herbal hair care market in FY’2016. Rising pollution and dirt in the country has triggered the consumption of hair shampoo in the country.
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The demand for herbal hair care products is expected to increase in coming years with a greater focus on natural products especially among the female segment of the population. Rising awareness, greater marketing and promotional strategies adopted by the companies. Market will increase at a CAGR of ~% during FY’2017-FY’2021. What is the Role of Skin CAre in the India ALternative Medicine & Herbal Products Market iNdustry? The herbal skin care business has been the new growth frontier in the cosmetics business in India. Rising awareness about the benefits of using herbal skin care products has increased the size of the industry. People prefer more herbal products than the products containing chemicals. The consumers of skin care products have evolved as more informed and aware buyers of products that have the least side effects on their personal well being as well as the environment and have become averse to chemical based cosmetics and skin care products. Herbal Skin care market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. The existing companies in synthetic skin care products have started offering herbal products. The institutional sales of herbal products have also driven the revenues of the industry. Many salons and spas in the country are using herbal products for treatment of the customers. Herbal Face wash has majorly contributed in the market of herbal skin care over past few years.
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Herbal face wash has contributed to ~% in FY’2016 followed by face cream. Himalaya neem face wash is the leading product in herbal face wash segment. Other popular face wash in the segment are joves herbal face wash, Patanjali face wash and others. Herbal Skin care market is anticipated to grow at a CAGR of ~% from FY’2017 to FY’2021. Expanding product lines by herbal companies for herbal skin care segment will drive the market size. The companies are continuously focusing on introducing wide range of creams from herbal massage cream to sunscreens which will accelerate the demand for these products. Herbal oral care market The demand for herbal toothpaste is surging in the country, as they do not contain any dyes or artificial flavors. The herbal toothpaste contains extract from mint, neem, basil, cinnamon, clove and many other herbs. Additionally, the growing issues in oral health care in the country such as cavities especially among children, gum swelling, gum bleeding and others has surge the demand of herbal oral care market in India. Herbal Oral care market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. The demand for herbal toothpowder is comparatively less as compared to herbal toothpaste in the country. Herbal Oral Care market is anticipated to grow at a CAGR of ~% from FY’2017 to FY’2021.
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Herbal chyawanprash market Chyawanprash market has witnessed a robust growth in past few years. The market is majorly driven by rising health issues especially in children and old age people in the country. It is mainly given to children and old people to increase their immunity against vulnerable diseases. Chyawanprash market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. The rising awareness about health and fitness had surge the demand for products which will increase the immunity power and provide protection to the population from infections and other health diseases. Herbal Balm Market Balms comes under the category of OTC (over the counter) drugs or medicines which are legally allowed to be sold without the prescription of a registered medical Practitioner. The expanding product lines of balm by the companies and rising number of unorganized player in the market has driven the size of the industry. Balm market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. Balm market is anticipated to grow at a CAGR of ~% from FY’2017 to FY’2021. The rising elderly population and increasing weight problems among the population will increase the chances of joint pains. This will trigger the demand of balms in the country in future.
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Herbal digestives market The rich and traditional cuisines of India are famous across the globe. The Indian recipes are rich in spices and oil is the major reason for indigestion, acidity and gastric problems in the country. This has triggered the size of the digestive medicines market. The herbal digestive pills and drinks are assumed to be normal candies and energy providing drinks. This has increased their consumption by every age group of people. Herbal Digestive market has grown at a CAGR of ~% during FY’2010-FY’2016. The market has grown from INR ~ million in FY’2011 to INR ~ million in FY’2016. It has been anticipated that the digestive remedies market will become more popular in coming future due to the unhealthy diets, stressful lifestyle, growing elderly population and greater awareness of digestive conditions. Herbal Balm market is anticipated to grow at a CAGR of ~% from FY’2017 to FY’2021.
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Trends in india alternative medicine & herbal products market industry Growth in Online Market: Online shopping is gaining importance in India. Youth segment of the population has showcased an inclining interest in the purchases through online portals. Dabur India Ltd. and Patanjali have launched their online shopping portals dedicated to herbal products. Shopping portal gives an ease of buying to the customer and also saves travelling time, thus acting as an excellent option to the customer. Emerging Wellness center in India Wellness in itself is a broad term encompassing several products and services that are considered to offer fitness and rejuvenation to the segment of the population who chose to lead a healthy lifestyle. The wellness market in the country has also been driven by the foreign tourist arrivals especially leisure and medical tourists over the years. Rapid Growth in Men’s Grooming Center: Traditionally skin care and hair care have been associated with females segment of the population. However, with increasing globalization and corporate culture, males have also started showcasing a greater focus on personal wellbeing and appearance. A wide range of personal care products such as face wash, face cream, fairness creams, hair shampoo and others for men are available in the market, nowadays.
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What are the future prospectes for india alternative medicine & herbal products market industry? Rising awareness of harmful effects of chemical used in cosmetics will trigger the demand of herbal cosmetics especially skin care & Hair care products in coming future. It has been anticipated that the industry will increase at a CAGR of ~% during FY’2017-FY’2021. Majority of the population in the country prefer herbal & natural products over other chemically added products. The personal care product manufacturing companies are viewing herbal products as a point of differentiation and are continuously foraying into the herbal personal care market with variety of ayurvedic and herbs based hair care, skin care and FMCG products catering to specific needs of the customers. The alternative medicines & herbal products market will be majorly driven by Herbal products. Herbal product will contribute ~% in FY’2021 in terms of revenues. The Alternative medicines market will contribute ~ % in FY’2021.
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Source: https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/in dia-herbal-products-market/55358-95.html
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Contact: Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249
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