Increasing Demand for Natural Products to Boost Global Ayurvedic Herbs Market
Rising inclination of individuals towards natural treatment has increased their dependence on natural products, triggering demand for various Ayurvedic herbs such as withania somnifera, bacopa monnieri, Indian gooseberry, turmeric, bitter lemon and cumin. In addition, individuals are becoming aware of the side effects caused by consumption of allopathic drugs such as acidity, dizziness, constipation, diarrhoea, skin rashes, headache, dry mouth and insomnia, limiting its usage to superficial treatments. Ayurvedic herbs facilitate balancing of the human body, spirit and mind and have the ability of cleaning the entire body by removing bacteria and toxins, in turn increasing immunity to fight against diseases. Becoming more reliant on prophylactic health remedies, individuals are opting for natural products such as Ayurvedic herbs, which is expected to spur the growth of the Ayurvedic herbs market, particularly in the developing economies.
COVID-19 Pandemic to Fuel Demand for Ayurvedic Treatment, Bolstering Ayurvedic Herbs Market
Since 2020, people worldwide are focusing on enhancing their body immunity in the wake of the ongoing COVID pandemic. SARS-CoV-2 has resulted in massive mortalities on the global front. Despite use of advanced allopathic drugs, the infection spread was uncontrollable alongside increase in the number of deaths worldwide. This pushed researchers to understand the nature of the infection, the conclusion of which underlined the enhancement of self-immunity. This paved a big opportunistic platform for natural medicines such as Ayurvedic herbs that promote and improve self-immunity which can control the intensity of the infection in the body, in turn fighting against the virus. Ayurveda being a preventive treatment method focuses on seasonal and daily routines or regimes that gauge human health. Its importance in building long lasting and a deeper immune power that shields against viruses or infections leading to fever, cold or headaches and allergies has fuelled the consumption of Ayurvedic herbs in different forms such as powder, pills and liquid. In the recent past, importance of Ayurveda was at a moderate level. However, with its efficiency against fighting the COVID 19 virus has translated into an increasing demand for Ayurveda treatment, which has, to a significant extent, contributed towards the growth of the Ayurvedic herbs market.
Use of Ayurvedic Herbs in Treating Various Skin Diseases to Complement Market Growth
Use of Ayurvedic herbs in treating skin disorders is rising at a significant pace. Skin diseases caused due to allergies, side effects of synthetic drugs, allergens, immune system issues and genetic composition complexities require a preventive treatment that will focus on the root cause of the disorder. Ayurvedic herbs facilitate inner vitality thus reducing skin inflammation, itching, redness, irritation, patches and other changes in skin appearance. This has fuelled the use of Ayurvedic herbs in treating various skin disorders such as acne, eczema, dry skin, psoriasis, hyper pigmentation and rosacea. In this backdrop, application of Ayurvedic herbs in treating skin diseases is likely to contribute to the valuation of the Ayurvedic herbs market in the coming years.
Asia Pacific to Lead Ayurvedic Herbs Market with India at Vanguard
The Ayurvedic herbs market is expected to witness momentous growth in the emerging economies in Asia Pacific, especially India. This can be attributed towards increasing dependence on traditional and natural treatment methods such as Ayurveda coupled with favourable government initiatives to promote use of medicinal herbs in the country. For instance, Government of India has carried out various initiatives to promote distribution and cultivation of medicinal plants such as Ayurvedic herbs. NMPB (National Medicinal Plants Board) offers huge subsidies to farmers and also formulates guidelines and schemes for cultivation of Ayurvedic herbs. Moreover, the Department of Commerce has also set up EPCs (Export Promotion Councils) to encourage exports of products and has assigned SHEFEXIL (Shellac & Forest Products Export Promotion Council) to focus on export of medicinal or Ayurvedic herbs. In addition, Ministry of Ayush, through its International Cooperation Scheme, offers financial support to exporters of Ayurvedic herbs by encouraging them to participate in trade fairs, organize business meets both locally and at the international level and initiate conferences. Such favourable government support is expected to lay an optimistic scenario for the growth of the Ayurvedic herbs market in the coming years.
On the other hand, increasing agreements with foreign bodies is likely to influence the Ayurvedic herbs market growth. For instance, an MOU was inked between American Herbal Pharmacopoeia and Commission for Indian Medicine & Homeopathy in 2021. This MOU between US and India is focused on widening the scope of Ayurveda and enhance export of Indian Ayurvedic products on the global front. Another MOU was signed between AIIA (All India Institute of Ayurveda) and NICM Western Sydney University in 2021 to promote Ayurveda, which is expected to emboss a positive impact on the use of Ayurvedic herbs.
Ayurvedic Herbs Market: Competitive Landscape
Few of the key companies in the Ayurvedic herbs market include Dabur India Ltd., Patanjali Ayurved Limited, Colgate Palmolive Company, Emami Limited, Unilever and The Himalaya Drug Company.
Global Ayurvedic Herbs Market is Segmented as Below:
By Herb Type
By Disease Indication
By Distribution Channel
Key Elements Included In The Study: Global Ayurvedic Herbs Market
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