Ayurveda Market, 79% of Growth to Originate from Asia, Technavio

NEW YORK, April 26, 2024 /PRNewswire/ -- The global ayurveda market size is estimated to grow by USD 7.19 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 16.01% during the forecast period. Asia is estimated to contribute 79%. to the growth of the global market.

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The Ayurveda Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

Region Outlook

1. North America
2. Europe
3. Asia
4. Rest of World

3. Asia -  In the upcoming time, Asia is set to boost the global market by 79%. Experts from Technavio have laid out the reasons why. In Asia, more people are learning about the drawbacks of regular medicine and turning to herbal products. Issues like being overweight, heart problems, lacking nutrients, and using artificial stuff make the market bigger. People love treatments like Panchakarma, Ayurvedic massages, and yoga retreats.

• To keep up, we need good ingredients, proof they work, and top-notch materials. In the West, folks want these supplements, beauty goods, foods, and healthcare items. We need to teach consumers to clear up any wrong ideas. But there are problems getting stuff from A to B, like not enough workers, fights between countries, and worries about the environment.
• We gotta make things the same and give them the okay. There are some differences because of where people live and what they believe. In the Ayurvedic market, there are lots of things to buy, from spices to medicine to stuff for your skin. People like the idea of staying healthy and feeling safe, so that's what we gotta sell. That's why the market's gonna get bigger in Asia.

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Research Analysis

The Ayurveda market encompasses a wide range of herbal remedies and Ayurvedic goods, rooted in ancient Indian traditions. These natural treatments address chronic health issues, including obesity, by balancing the three doshas - Vatta, Pitta, and Kapha. Herbal and Herbomineral formulations, derived from natural ingredients, are integral to this system.

Government support and medical tourism have fueled the growth of this sector, offering intricate procedures and health supplements. Oral care products and personal care items are also part of the Ayurvedic market, showcasing the versatility of plant-based medications. Synthetic chemicals are minimally used, ensuring the authenticity of natural herbs and their therapeutic benefits. Anti-wrinkle creams and anti-aging creams are popular choices, reflecting the global demand for effective, natural, and holistic approaches to wellness.

Market Overview

The Ayurveda market represents a significant segment of the global healthcare industry. Herbal remedies, a key component of Ayurvedic practices, are in high demand. Obesity, cardiovascular issues, and mental health concerns are common reasons for seeking Ayurvedic treatments. Herbal remedies for these conditions include Turmeric, Ashwagandha, and Guduchi. Ayurvedic practices also emphasize diet and lifestyle modifications.

In the US market, Ayurvedic products are gaining popularity, with an estimated 11% CAGR from 2020 to 2027. In Europe, the market is expected to reach €12.2 billion by 2027. Ayurvedic treatments offer a natural alternative to conventional medicines, making them increasingly attractive to consumers.

The market's growth is driven by factors such as rising healthcare costs, increasing awareness of natural remedies, and a growing aging population. The Ayurvedic market is expected to continue its robust growth in the coming years.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio