India Luxury Ayurveda Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
India Luxury Ayurveda Market Overview and Definition
The India luxury Ayurveda market refers to the market for high-end Ayurvedic products and services, which are used for wellness, beauty, and healthcare purposes. Ayurveda is a traditional system of medicine that originated in India thousands of years ago and is based on the concept of holistic healing and balance between mind, body, and spirit.
The luxury Ayurveda market in India includes a wide range of products and services such as skincare products, hair care products, spa treatments, and wellness retreats. These products and services are designed to provide customers with a luxurious and personalized experience that combines the benefits of traditional Ayurvedic treatments with modern technology and innovative formulations.
The India luxury Ayurveda market is driven by the growing awareness of the health benefits of Ayurveda, the increasing demand for natural and organic products, and the growing preference for personalized and customized wellness experiences. The market is also driven by the increasing adoption of digital technologies and e-commerce platforms, which have made luxury Ayurvedic products and services more accessible to customers across India and beyond.
The global pandemic has impacted the luxury Ayurveda market in India, but the market is expected to recover and grow in the coming years. The market is expected to benefit from the increasing investments in research and development by key players in the industry, as well as the growing demand for sustainable and eco-friendly products and services.
Some of the leading players in the India luxury Ayurveda market include Kama Ayurveda, Forest Essentials, Biotique, Himalaya Wellness, and Lotus Herbals. These companies are investing in the development of new and innovative Ayurvedic products and services that can meet the evolving needs of their customers and create new business opportunities. They are also collaborating with other companies to expand their product portfolios and strengthen their position in the market.
Luxury Ayurveda is one of the world’s most comprehensive approaches to healthy living. The Ayurveda products have been strongly recognized throughout Asia, Africa and among the Red Indians of North and South America as a very holy and effective approach to treating diseases. Although Ayurveda is not widely accepted as modern medical science, still the industry has gained recognition throughout the globe as an alternative system of modern medicine.
The luxurious Ayurveda industry India is emerging as a noteworthy pace. The luxury Ayurveda product segment has been flourishing in India for many decades. Face products, hair care products, bath & body products, and other wellness products are the major categories being retailed within the industry. Increasing the overall affordability and accessibility of Ayurveda products, attracting private investors, promoting Ayurveda hospitals and medical value travel, are the major growth drivers of India luxury Ayurveda market.
The Indian Ayurveda industry can be broadly categorized into the organized and the unorganized sectors, out of which, organized sector is guiding the growth of luxury Ayurveda market with-in India. The organized players are taking Ayurvedic recipes into high-end personal care and are targeting Indian and international consumers with higher affordability power. Forest Essentials, SOVACARE and Kama Ayurveda are the manufacturer of luxury Ayurveda products in India and are witnessing continuous growth within the country. For instance, the Kama Ayurveda company posted revenues of Rs 72.9 crore in 2018 versus the Rs 41.00 crore the year before. It also reported a net profit of Rs 2.54 crore in 2018.
There are several factors that have aided the luxury Ayurveda market in India, out of which, the rise of e-commerce is the strongest growth factor for India luxury Ayurveda market. E-Commerce has transformed the way business is done in India. The Indian e-commerce market is expected to grow to USD 200 billion by 2026 from US$ 38.5 billion as of 2017. The increasing internet and smartphone penetration in India have triggered the market growth of luxury Ayurveda in India.
The manufacturers of luxury Ayurveda have already covered almost every tire 1 cities in India and are looking forward to expanding their businesses in tire 2 & 3 cities very soon. Furthermore, rising medical tourism in India is another key factor which has encouraged the growth of luxury Ayurveda in the country. Many parts of the country such as Kerala, Uttarakhand, and others are known for Ayurveda hub. There is a rise in the number of luxuries Ayurvedic resorts and retreats in the country and is strongly attracting Indian population and tourists. This rise in the number of Luxury Ayurvedic resorts and retreats is also escalating the demand for luxury Ayurveda products in the country.
Based on the product type, the market has been classified into face care products, hair care products, bath & body products, wellness products and others. In product type segment, face care product contributed around xx% market share of the India luxury Ayurveda market in 2018.
Based on demography, the market is categorized into men, women and unisex segments. At present, unisex represent xx% of the total luxury Ayurveda market.
The India luxury Ayurveda market is segmented based on distribution channel as online stores & offline stores. The online stores segment accounted for about xx% of the total India luxury Ayurveda market value in 2018, with the former constituting around xx%.
The competitive landscape of the market has been examined in the report. Some of the key players operating in the market include;
- Forest Essentials
- Kama Ayurveda
- Other prominent players
Research Scope and Deliverables:
Research Methodology & Executive Summary
Market Drivers, Trends, Barriers and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the India Luxury Ayurveda market by the following segments:
- Product Type (Face Care Products, Hair Care Products, Bath & Body Products, Wellness Products & Others)
- Demography (Men, Women & Unisex)
- Distribution Channel (Online Stores & Offline Stores)