Ayurveda is a natural medicine system that originated in India many years ago. The term Ayurveda is derived from two Sanskrit words that you must have commonly heared of; ‘ayur’ which means ‘life’ and ‘veda’ which is ‘science or knowledge’. Similarly, Herbal means made from or using herbs. Large quantities of botanicals are consumed by the herbal industry in India.
Start a Business in Herbal Products Industry, Click Here
The increasing concerns of consumers all around the world for the side effects of products and medicines had led to an increase in the demand for traditional alternative products across the globe which will contribute and is contributing to the growth of the Ayurvedic & Herbal Industry in the Global Market as well.
Read our Book Here: Herbal Cosmetics Handbook (Formulae, Manufacturing Processes with Machinery & Equipment Details) 4th Revised Edition
Herbal and Ayurveda is becoming an attention magnet for attracting several consumers. Also, the global acceptance of traditional practices of herbal and Ayurveda treatments is broadening the prospects of ‘Ayurveda tourism' in India.
Related Projects:- Herbs and Herbal Based Products, Ayurvedic Medicines, Cosmetics, Herbs, Medicinal Plants Cultivation
Regional Growth of Ayurvedic & Herbal Industry in Global Market
According to the Global Ayurvedic Market Research Report 2020-2026, the Global Ayurvedic Market was valued at US$ 4.5Bn back in 2017 and is estimated to reach at US$ 14.9Bn by the end of 2026 at a CAGR of 16.14%.
Fig: Global Ayurvedic Market by Region (2020-2026)
Start a Business in Africa, Click Here
Start a Business in India, Click Here
Also, the global Ayurvedic/Herbal Products market size is projected to reach US$ 5172.7 million by 2026, at a CAGR of 12.0% during 2021-2026 from US$ 4571.7 million in 2020.
According to the Global Herbal Medicine Market Report 2021, the global Herbal Medicine market was valued at USD 158310 in 2020 and will reach USD 233610 million by the end of 2027, growing at a CAGR of 6.7 during 2022-2027.
Product benefits emerged as the most important influence in the success of Ayurvedic and herbal product launches.
Related videos:- Herbs and Herbal Based Products
Major Herbal & Ayurvedic Companies in Global Market:-
· Dabur India Ltd. Dabur Pvt.
· The Himalaya Drug Company
· Zandu Realty Limited
· Vicco Laboratories
Start a Business in Middle East, Click Here
How to start Ayurvedic & Herbal Industry?
To start your Ayurvedic & Herbal Industry you need to keep in mind the following points:-
- Search for manufacturing units whether rented or owned
- Decide a name for your company
- Apply for various documents, online or offline, required such as; License number, GST number, product approval documents and manufacturing license number file, etc.
- Start the manufacturing process once you got the approval
- Your product is ready to be sold in the market!
Fig: Ayurveda Market Size 2019, Global Industry Growth
Related book:- Handbook on Herbal Products (Medicines, Cosmetics, Toiletries, Perfumes) 2 Vols.
Will this business be profitable?
The major manufacturers of Ayurvedic medicines introduced daily products in recent years such as soap, cooking oil, shampoo, toothpaste, etc. enriched with Ayurvedic nutrients other than medicines. The Ayurvedic and Herbal industry business gained new heights. This has also enabled normal civilians to get the best and qualitative products at a cheaper price. Due to the growing demand for Herbal & Ayurvedic medicines as well as daily products within India and other countries around the world, the Ayurvedic companies for a franchise can be a very profitable business idea.
Start a Business in Asia, Click Here
Start a Business in Potential Countries for Doing Business, Click Here
Reasons of Growth
The Ayurvedic and Herbal Industries have gained a lot of interest of people not only in India but in the Global Market as well. There are several reasons for the growth of this industry, some of them are listed here:-
- Ayurvedic treatment can be taken simultaneously with any other medical treatment without any side effects
- Approximately 60% to 70% of the Indian population still prefers Ayurvedic medicine over Allopathic medicines
- Consumers are increasingly preferring food products that are made of natural ingredients to maintain a healthy lifestyle
- Increase in awareness about benefits of herbal personal care products
- Global acceptance of traditional herbal and ayurvedic treatments
Best Industry for Doing Business, Click Here
Business Ideas with Low, Medium & High Investment, Click Here
Conclusion
Niir Project Consultancy Services (NPCS) provide detailed project reports, Books, Business Plan for Manufacturing Plant, Start-up Ideas, and Business Ideas for Entrepreneurs, etc. You can also get the detailed project report on “How to start Ayurvedic & Herbal Industry”. All the project reports given are based on reliable data on analysis of market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements.
Looking for Most Demandable Business Ideas for Startups, Click Here
MamSh_2021
Tags:-
#DetailedProjectReport #businessconsultant #BusinessPlan #feasibilityReport #NPCS #industrialproject #BusinessIdeas, #StartupBusinessIdea, #EntrepreneurIndia, #NPCSProjects, #Startup, #Business, #BusinessConsultant, #ProjectReport, #BusinessOpportunity, #BusinessPlan, #HerbalProducts #HerbalToothpaste #HerbalMarket #HerbalProductsManufacturing
