Ayurveda, an ancient Indian medicinal system dating back thousands of years, is once again making headlines. Based on herbs and natural remedies, this medical system is rapidly gaining popularity not only in India but also on a global scale. The consequence of this increasing popularity is visible in the market of Ayurvedic products.
Let’s explore the expected surge in the market of Ayurvedic products in the upcoming times.
What’s Happening?
According to The Economic Times, the Ayurvedic tech startup NirogStreet has released a report stating that there is an anticipated rapid growth in the market of Indian Ayurvedic products in the next five years. It is believed that by FY28, this market will reach up to Rs 1.2 lakh crore or approximately 16.27 billion US dollars. This anticipated value is more than double the current market value of Rs 57,450 crore.
Why is Ayurveda Becoming So Popular?
There are several reasons behind this growth:
Natural Remedies: People are turning towards natural herbs to avoid the side effects of chemical medicines.
Global Demand: The demand for Ayurveda is increasing not only in India but also in foreign countries.
Government Initiatives: The government is taking various steps to promote Ayurveda, which is strengthening the industry.
New Entrepreneurs: To meet the growing demand, new entrepreneurs are entering the Ayurveda sector, fostering innovation.
This could be the golden era of Ayurveda. It will not only help people stay healthy but also strengthen the Indian economy.
What’s in it for Investors?
Several companies and startups are working in the field of Ayurveda in India, such as Baidyanath Ayurveda, Dabur India Limited, Hamdard India, Jhandu Care, Kerala Ayurveda Limited, and more. However, only a few companies are listed on Indian stock exchanges like NSE and BSE, including Dabur India, Patanjali, Kerala Ayurveda Limited, and others.
Investors interested in investing in the Ayurveda sector can make better investment decisions by comparing listed companies on the stock exchange based on growth, attractive valuation, P/E ratio, and other factors.
What’s Next?
According to Invest India, India is considered the second-largest exporter of Ayurveda and alternative medicine at the global level. Additionally, as per NirogStreet survey mentioned in Business Standard, there is an expectation of rapid growth in the market of Ayurvedic products and services. It is anticipated that there will be a 15% CAGR growth in the entire Ayurvedic market from 2021 to 2026.
Market Value of the Ayurveda Industry in India
According to Statista, India’s Ayurvedic market was worth Rs 33.5 billion in 2019. It is estimated that by 2025, this figure will surpass one trillion rupees. These figures indicate the pace at which Ayurveda is progressing.
That’s it for today. We hope you’ve found this article informative. Remember to spread the word among your friends. Until we meet again, stay curious!
*The companies mentioned in the article are for information purposes only. This is not investment advice.
*Disclaimer: Teji Mandi Disclaimer
