USD 266.24 billion
Report ID: SQSG30I2046 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 96 | Figures: 76
Global Ayurvedic Nutraceuticals And Dietary Supplements Market size was valued at USD 266.24 billion in 2021 and is poised to grow from USD 286.21 billion in 2022 to USD 548.73 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).
The global market for Ayurvedic Nutraceuticals and Dietary Supplements is primarily being driven by a strong demand for non-traditional medicinal products to obtain better outcomes than those obtained from conventional pharmaceutical treatments. Additionally, many governments around the world supply herbal products at prices that are comparably lower than those of synthetically produced medicines, making it simpler for people with limited disposable means to purchase them.
The global market for herbal medicinal products is also being significantly driven by rising awareness of the advantages of allopathic medications. Finally, a lot of goods are being introduced that contain botanical components to provide them medical characteristics. As a result, from a commodity-based perspective, these commodities are also powerfully propelling the worldwide market for Ayurvedic Nutraceuticals and Dietary Supplements market.
Due to their "natural" designation, ayurvedic supplements are becoming more and more popular. In order to improve their health, consumers are choosing dietary supplements and ayurvedic nutraceuticals. The global market for ayurvedic nutraceuticals and dietary supplements has consequently expanded as a result of rising prices for medical and dietary goods.
Consumers are being pushed to live healthier lives by an increased sedentary lifestyle. There are an increasing number of mental and physical health issues. Nowadays, a high number of people are looking for safer, healthier, and more affordable options. Because more people are aware of them, ayurvedic nutraceuticals and dietary supplements are becoming more popular.
US Ayurvedic Nutraceuticals And Dietary Supplements Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 266.24 billion
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The global ayurvedic nutraceuticals and dietary supplements market is segmented based on target consumer, form, distribution channel and region. Based on target consumer, the ayurvedic nutraceuticals and dietary supplements market is segmented into infant, children, adults, pregnant women, elderly.
Based on form, the market is segmented into tablets, powder, liquids, others. based on distribution channel, the ayurvedic nutraceuticals and dietary supplements market is segmented into pharmacies and drug stores, hypermarket/supermarket, online stores, specialty store, others.
Based on region, the ayurvedic nutraceuticals and dietary supplements market is categorized into North America, Europe, Asia-Pacific, and MEA.
Ayurvedic Nutraceuticals And Dietary Supplements Market Analysis by Distribution ChannelThe global ayurvedic nutraceuticals and dietary supplements market is segmented into pharmacies and drug stores, hypermarket/supermarket, online stores, specialty stores, and others. The supermarkets segment is anticipated to register the largest share over the forecast period.
Ayurvedic Nutraceuticals And Dietary Supplements Market Analysis by Form
By form, the tablets segment dominated the global ayurvedic nutraceuticals and dietary supplements market in 2022, and is expected to remain dominant throughout the forecast period. This is due to the rise in consumer demand for healthy and clean-label herbal products.
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Geographically, Asia Pacific, particularly India, is expected to be the dominant market in the global Ayurvedic medicines market as the originator and birthplace of the world's Ayurvedic medicines markets. Furthermore, the global Ayurvedic medicines market would expand as a result of technology advancements used by local and global Ayurvedic medicines manufacturers in India and other regions.
Due to the leading worldwide players' increasing offerings of Ayurvedic medicines and other herbal products, the Ayurvedic Medicines markets in South and East Asia are also expected to rise at a significant CAGR. Furthermore, Ayurvedic medications have the potential to improve global health by lowering the prevalence of numerous ailments.
North America will also show significant growth during the forecast period as westerners have started believing in ayurveda and healing capabilities of natural herbs. They are investing in various studies and researches to formulate these nutraceuticals and ayurvedic medicines to treat a variety of ailments. Westerners turning to holistic lifestyle approaches are actively shifting their preferences to natural and ayurvedic products and supplements.
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Ayurvedic Nutraceuticals And Dietary Supplements Market Driver
Rise in demand for plant-based nutraceuticals and dietary supplements
Ayurvedic Nutraceuticals And Dietary Supplements Market Opportunities
Availability of Synthetic and Premium Products
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The ayurvedic nutraceuticals and dietary supplements market is highly fragmented, with numerous small and major companies competing on price and quality.
Ayurvedic Nutraceuticals And Dietary Supplements Market Top Players Company Profiles
Ayurvedic Nutraceuticals And Dietary Supplements Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to the global ayurvedic nutraceuticals and dietary supplements market report analysis, modern nutraceuticals are adept at filling today's unmet health needs. There is a lot of promise in combining modern nutraceuticals with ancient Ayurvedic remedies to improve and develop solutions that answer unmet consumer demands. Quality control and standardization can improve the efficacy of Ayurvedic medicine by creating pure, potent products. Modern procedures are employed to make Ayurvedic ingredients more soluble and bioavailable, and improve absorption. Vegetarian capsules in various sizes give an integrated approach with current nutraceuticals, allowing for modifications and a better healthcare system, providing consumers with efficient and safe therapies that fit their evolving needs.
|Market size value in 2021||USD 266.24 billion|
|Market size value in 2030||USD 286.21 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Ayurvedic Nutraceuticals And Dietary Supplements Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ayurvedic Nutraceuticals And Dietary Supplements Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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The nutraceuticals market is expected to grow at a compound annual growth rate of 9.0% from 2021 to 2030 to reach USD 991.09 billion by 2030.
Based on distribution channel, the global Ayurvedic Nutraceuticals and Dietary Supplements market segmented into Pharmacies and Drug Stores, Hypermarket/Supermarket, Online Stores, Specialty Store, Others.
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