The boom in the Indian Ayurveda market and its increasing importance
The word is suffering its worst health crisis with the outbreak of novel coronavirus since the early beginning of this year. The deadly virus, which has now infected close to 62 Mn people worldwide and has caused death amongst approximately 1.5 Mn people across the globe has brought in human beings a sense of fear, anxiety, and paranoia. But on the bright side, Covid19 has also made humans more aware and alert on the importance of good health, immune system, and healthy eating habits. Covid19 has accelerated consumer awareness on the importance of traditional medicines for prevention, as more and more people and looking at ways to build a stronger immune system.
The last few months have seen a drastic change in the consumer behavior towards the natural healing and herbal market, especially for the major players in Ayurveda. Ayurveda has witnessed a huge surge in demand for health care products especially immune boosters, preventive herbal blends, etc. Covid19 has shown the world how important it is to have a strong immunity system, and this has brought Ayurveda to the centre stage. Consumers are understanding the value and importance of this age-old Indian medical science and what it brings to the table. As per a recent survey by Facebook India and the Boston Consulting Group, there has been a 1.2x spike in online searches for health and immunity. It also states that 49% of consumers intend to buy more vitamins, herbs, and supplements in the coming days. The health and wellness industry is suddenly booming and as per industry statistics, the Ayurveda market, post-pandemic, is expected to reach almost double by the end of 2024 growing at a CAGR of 12.2% between 2019 and 2024. With the World Health Organisation (WHO) announcing to set up a Global Centre for Traditional Medicine in India and the government of India having approved 100% foreign direct investment in the sector, new doors of growth and opportunities have opened for Indians to take this holistic treatment globally. We are now at a centre stage of a whole new revolution in the global health and wellness industry.
India is one of the major producers of raw materials for Ayurvedic products. Almost all the ingredients used in Ayurvedic products are sourced from India. For example, turmeric is sourced from the North-East, while saffron is sourced from Kashmir. Some specialised ingredients, though, come from Indonesia. Herbal medicines are becoming mainstream in a lot of developed countries which has given India a chance to emerge as a strong market leader for herb-derived drugs and dietary supplements. The sale of turmeric, for instance, has seen a continuous rise every year, and India, as one of the largest cultivators of this anti-allergen,
India can use this opportunity to establish itself as a preferred global supplier of such raw materials used in the production of natural and Ayurvedic products
In Ayurveda, good digestion or strong digestive fire is important for building immunity and fighting diseases. Having a piece of fresh ginger or drinking ginger tea, mint tea, cinnamon tea, and fennel tea are also some of the effective ways to develop the body’s innate immunity. Adding to this Amalaki or Amla (Emblica Officinalis), Guduchi/Giloy (Tinospora Cordifolia), Neem (Azadirachta Indica), Kutki (Picrorhiza Kurroa), Tulsi (Basil) are some of the Ayurvedic herbs that are very helpful in building immunity and inhibiting the infections.
There is mention of treating Viruses in the Ancient healing System of Ayurveda – in the book Charak Samhita. It has mentioned the role of immune-boosting herbs such as Guduchi, Pomegranate peel, Kalmegh, Tulsi, Shunti, Yashtimadhu, Kutki, etc. in our life. Interestingly, these herbs are now scientifically proven for their actions as immune-modulatory, anti-viral, and anti-inflammatory. Keeping in track the growing demand, we at Ayushakti launched a new product SWASAVIN D-VYRO, a tablet that works on basal immunity and prevents viral infections and inflammations. The product’s efficacy has been tremendous, and it has already been published in the peer-reviewed international journal (GJMR).
There is a huge opportunity for the herbal pharma industries and Ayurvedic players to bring out organic herbal ingredients and quality herbal products such as avaleh, herbal drinks, etc. This growing demand will also fuel growth in organic food items and healthy lifestyle items. I foresee immense growth in Ayurveda and other traditional medicines in the healthcare and nutraceutical market.
Being the originator of Ayurveda, we, as a nation have a lot to offer to the world in the healthcare sector, and in this era of new normal, the importance of this will be acknowledged worldwide. The coronavirus pandemic has made us aware that our body’s immunity is the first and best line of defence. Healthy living and good nutrition are the most important aspects not only during challenging times but as a habit to inculcate in the long term. With its vast heritage and knowledge in Ayurveda, India can take to its roots and traditions and can truly prove to be the pharmacy of the world. Ayurveda is poised to re-enter our lives in unique ways in a very revolutionized way.
