Global Ayurvedic Food Market - 2021-2028

Global Ayurvedic Food Market - 2021-2028

Market Overview

Ayurveda is an ancient Indian system of medicine. In Sri Lanka, India, and Nepal, Ayurveda is believed a medical practice. In ayurvedic food, the fundamental qualities of the food such as source and the origin of the food are also considered. In other words, ayurvedic food is pure, predominantly plant-based, nutrient-rich, seasonal, fresh, easy to digest, local, energizing, and satisfying. The increasing online trading and e-commerce are noted as emerging trends for the market of ayurvedic food. The global ayurvedic food market is valued at USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)

Market Dynamics: Rising vegeterainsim coupled with increasing awareness about its health benefits

The increasing popularity and demand for the vegetarian and plant-based food diet is influencing the growth of the global ayurvedic food market. Moreover, a growing number of customers are accepting vegetarian diets due to rising awareness regarding the health benefits associated with vegetarian food and increased awareness regarding the environment and sensitivity for animals is driving the market growth. Veganism has transformed into a lifestyle and is looked upon as a healthy clef. This has a positive impact on the adoption and purchase of ayurvedic foods such as teas, fruit juices, snacks, and dried fruits. Furthermore, producers are serving to this boost in demand by introducing various innovative products that can help them to grab the maximum market across the globe. The increasing online trading and e-commerce are also noted as emerging trends for the market of ayurvedic food along with many ayurvedic food enterprises utilizing the online retail platform to tackle and serve internet-savvy shoppers is also estimated to fuel the global ayurvedic food market during the projected years.

Market Segmentation: Supermarkets and hypermarkets is the most widely preferred distribution channel, holding about XX% of the global market

By distribution channel, the supermarket and hypermarkets segment dominates the global ayurvedic food market and is expected to be the dominating distribution channel segment as supermarket and hypermarkets are progressively utilizing blockchain technology for tracking product details including transportation modes, manufacturing location, and source. Blockchain technology is referred to as a data structure that keeps records of transactional and ensures transparency, decentralization, and security. Owing to growing consciousness regarding healthy eating, consumers are actively searching for the food production methods and origin to know the complete food supply chain. This technology helps the buyers to retrieve labeling information with their smartphones which provides the buyer in-depth tracking of data that confirms food safety and quality.

Geographical Penetration: Asia Pacific is the largest market for ayurvedic food with a share of nearly XX% in global sales value in 2020

By geography, Asia Pacific has dominated the global ayurvedic food market in 2020 and is anticipated to be the dominating regional market within the projected year. Substantial factors that fuel the demand for ayurvedic food are consciousness about the side effects of consuming unhealthy food. The growing awareness about the health benefits of ayurvedic foods among consumers is one of the prime factors that will facilitate the ayurvedic food market growth in APAC over the forecast period. Awareness about the benefits of organic ayurvedic food is much higher in the Asia Pacific than in other regions. India is considered the key region for ayurvedic food in the Asia Pacific region. Market growth is faster in India than the growth compared to other countries and regional markets. The increasing awareness regarding the health benefits including ayurvedic foods in the diet is one of the major reasons which is enhancing the growth of the ayurvedic food market in the region.

Competitive Landscape:

The global ayurvedic food market is highly competitive with the presence of many companies operating in the market. Some of the major players of the market include Cosmoveda EK Günther Eckerle, Dabur Ltd, Patanjali Ayurved, Banyan Botanicals, Tata Consumer Products Ltd., and Unilever Group, among others. They have strengthened the market through their product offerings. Continuous innovation to introduce new products, with functional benefits is the key competitive factor in the market. For instance, in March 2019, the Kapiva Ayurveda one of the major provider of functional and health foods introduced the all variants herb-infused teas. One of the important players in the Indian Ayurvedic products market – Baidyanath group, backs the company. In 2018, Dabur has introduced a range of Ayurveda-based products including its Chyawanshakti chavanprash. Introducing these products not only country level but also the global level has helped the company to account for the leading share in the global market as the consumption of these products is no more restricted to India.

COVID-19 Impact: The market witnessed a positive impact

The global ayurvedic food market has been posititvely impacted during the covid-19 pandemic as there was an increasing demand for flagship immunity boosters such as Dabur Chyawanprash and Dabur Honey. There is a definite consumer traction for foods and supplements that are natural or ayurveda-based. Startups were looking to scale up their businesses to take advantage of the growing clamour for ayurvedic preventive healthcare products. Dabur has already launched a slew of immunity boosters such as Tulsi Drops, Giloy-Neem-Tulsi juice and an immunity kit. More innovations are in the pipeline in view of the shift in consumer preference. Several key players in the industry witnessed financial figures that are way beyond their regular industrial standards.

Why Purchase the Report?
• Understand the current market scenario and viability of global ayurvedic food over the forecast period
• Visualize the composition of the global ayurvedic food market in terms of type, form and distribution channel to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market

What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global ayurvedic food market Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:
• Ayurvedic Food Manufacturers
• Organic Food producer Companies
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals