Media Releases

India Alternative Medicine and Herbal Products Market is Expected to Reach INR 660 Billion in the Future : Ken Research

Posted on 18 November 2016 by KenResearch Consumer Products and Retail ,

Alternate medicine and herbal products face a stiff competition from the chemical based synthetic products and allopathic medicines. Majority of the population in India prefer allopathic medicine in case of serious illness.

According to ken Research Chyawanprash is an ancient ayurvedic formulation which was traditionally used to boost immunity and longevity. Chyawanprash is considered as the most effective dietary health supplement in the ayurvedic medicines and products segment. It is prepared from a combination of nearly 30 to 80 herbs that provide various health benefits. The popularity of Chyawanprash as a health supplement is not only prevalent in India but also in other countries such as the US, European countries and other countries as well.

Balms comes under the category of OTC (over the counter) drugs or medicines which are legally allowed to be sold without the prescription of a registered medical Practitioner. The balm market in India has witnessed a robust growth rate in the past few years. With the growing working population and hectic work schedule, the demand for herbal balms has been on the rise. The reformulation of balms for curing fast relief in pain has pushed the demand for balms in India, According to ken Research

The chemical based medicines give faster results in terms of curing a disease or an ailment as compared to alternative medicines. Moreover, the presence of wide variety of synthetic personal care product has given tough competition to herbal products.

The government of India is providing full support to AYUSH ministry and promoting ayurvedic products and medicines in the country. The government along with AYUSH ministry has also decided to open AYUSH institutes in all states of the country. Furthermore, there are plans to open AYUSH Hospitals and a yoga wellness centers in every district in India.

Herbal drugs constitute a major share in all AYUSH medicines except homeopathy. In India, more than 70% of the population uses alternative medicines either for preventive purpose or curing purpose. Also, it has been anticipated that the number of AYUSH hospitals, Ayurvedic centers and Yoga centers will increase in coming future which will drive the revenues. The government has plans to open AYUSH institutes in every district of the country which will impel the demand for herbal medicines.

The government of India is taking various initiatives and allocated funds for uplifting institutes for alternative medicines such as Ayurveda, Unani, Siddha, Homeopathy and Yoga which will attribute to the increasing number of AYUSH practitioners in future, According to ken Research.

For more information on the market research report please refer to the link below:

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/india-herbal-products-market/55358-95.html


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Rising Awareness about Harmful Effects of Chemical based products and Increasing Government Support to Promote Ayurvedic and Herbal Products will Fuel Market Growth

Posted on 10 November 2016 by KenResearch Consumer Products and Retail ,

Ken Research announced its latest publication on “India Alternative Medicines & Herbal Products Market Outlook to 2021 - Herbal Medicines and Herbal Skin Care Products to Drive Market Growth which provides a comprehensive analysis of herbal products market in India. The report focuses on Alternative medicines, which includes AYUSH medicines and herbal products. Herbal products category includes the detail study about herbal hair care market, herbal skin care market, herbal oral care, herbal Chyawanprash, herbal balm and herbal digestives. Additionally, the report also covers sub segmentation for each herbal products market in India. The report covers recent trends and developments in India alternative and herbal products market. Market positioning of major players in the industry has been discussed with detailed company profiles. The report also includes SWOT analysis and Porters five forces model. The future outlook and projections for India alternative medicines and herbal products has been covered in the publication. The report also serves as a benchmark for every new player which is seeking to enter into alternative medicines and herbal products market and what should be the focus and USP for that new player, according to Research Analyst, Ken Research.

Government is expected to increase its AYUSH budget to INR 25.5 billion by FY’2021, which will boost the size of the industry. To support various AYUSH institutions across the country, a total of INR 266 crore has been given while INR 447 crore is allocated for research and development. The growing investment by the government and private players in developing herbal medicines based on traditional texts which would help in curing specific diseases such as flu, gastrointestinal ailments and life threatening diseases such as tuberculosis, cancer and others would impel the growth of herbal medicine market in the years ahead. Rising prevalence of life style diseases in the country such as diabetes, obesity, heart diseases and others will tend to increase the demand of preventive medicines. Stressful lifestyle and increasing human diseases have led to increase in consciousness among people to remain healthy and maintain a work life balance. Additionally, Booming male grooming industry in the country will surge the demand of herbal products especially products made for male customers. The companies will focus on all categories of men’s personal care products. Expanding product lines of herbal product portfolio will also boost the size of the herbal products industry in coming future.

The alternative medicines market will also grow at a robust rate in the coming future. Use of herbal medicines for therapeutic & preventive purpose is forecasted to increase in the coming years. Rising awareness, greater marketing and promotional strategies adopted by popular brands such as Dabur, Himalaya is likely to drive the sales of herbal hair care products in India in the future.

The companies are continuously focusing on introducing wide range of creams from herbal massage cream to sunscreens which will accelerate the demand. The growth in the male grooming segment in the country will positively impact the skin care market. The companies such as Himalaya Drug Company, Emami and Patanjali have plans to launch the complete herbal skin care range for male customers.

It has been anticipated that the digestive remedies market will become more popular in coming future due to the unhealthy diets, stressful lifestyle, growing elderly population and greater awareness of digestive conditions. Also, it has been anticipated that the changing demographics and rising old age population in the country will drive the growth of the digestive remedies market.

The companies offering herbal products should focus on distribution channel. Majority of the population in the country is living in rural areas. The penetration of herbal products is low in these areas. The companies can increase their distribution channel by increasing their direct and sub distributor which are selling the products in the rural areas. Also, the companies can strategically promote their products in the market by organizing free health check up camps, yoga camps and others. Government should set up standardization measures for herbal products and alternative medicines, according to Research Analyst, Ken Research.

 

Key Topics Covered in the Report:

·         India Alternative medicines & herbal products market

·         Market Segmentation by Alternative medicines and herbal products

·         India Alternative medicines market Size

·         India Herbal products market size and market segmentation by types of products

·         India Herbal hair care products market size and market share by companies

·         India Herbal skin care products market size and market share by companies

·         India Herbal oral care products market size and market share by companies

·         India Herbal Chyawanprash market size and market share by companies

·         India Herbal balm market Size and market share by companies

·         India Herbal digestive market size and Market share by companies

·         Trade Scenario of India Alternative Medicines & Herbal Products

·         Government roles in India Alternative Medicines & Herbal Products

·         Trends and Development and Issues & Challenges

·         SWOT Analysis and Porters five forces Analysis

·         Future Outlook

·         Analyst Recommendations

 

Companies Covered in the Report

Dabur limited

Patanjali

Himalaya Drug Company

Emami limited

Marico

Baidyanath

 

Products Covered in the Report

Herbal Medicines

Herbal Hair Care

Herbal Shampoo

Herbal Face Wash

Herbal Oil

Herbal Toothpaste

Herbal Digestives

Herbal Balm

Chyawanprash

For more information about the publication refer to below link:

https://www.kenresearch.com/consumer-products-and-retail/cosmetics-and-personal-care/india-herbal-products-market/55358-95.html

Related Reports:

Company Profile of Patanjali Ayurved Limited - New Product Pipeline and Brand Image to Drive Company Growth

US Hair Care Market Outlook to 2020 - Natural Ingredients and Multi-Cultural Products to Drive Future

India Toothbrush Market Outlook to 2020 - Rising Awareness for Oral Care and Premiumization of Products to Drive Growth


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