Increasing awareness about side effects of chemical formulations and benefits of herbal supplements coupled with rising popularity of plant-based ingredients used in herbal products to drive India herbal products market
According to recently released TechSci Research report, “India Herbal Products Market By Category, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024”, herbal products market in India is projected to grow at a CAGR of more than 18% during 2019 – 2024, due to the rising awareness about side effects of chemical formulations and health benefits of herbal supplements. Shift consumer inclination towards products based on natural ingredients and growing disposable income are expected to contribute to the growth of herbal products market in India over the next five years.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on“India Herbal Products Market”
The distribution channel of herbal products market is categorized into traditional & departmental stores, supermarkets/hypermarkets, online, and other channels. Traditional & departmental stores held the majority share in India herbal products market in 2018, followed by Supermarket/Hypermarket segment. However, during the forecast period, the share of traditional & departmental stores is expected to decline on account of higher increase in sales through supermarkets/ hypermarkets and the online mode across the country. In terms of regions, the India herbal products market is categorized into North, South, East and West regions. South India held the largest market share in 2018 due to higher consumer awareness about benefits of herbal products and presence of various wellness centers across the region.
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Major players operating in India herbal products market include Patanjali Ayurveda Ltd, Dabur Limited, The Himalaya Drug Company, Amway, Lotus Herbals Private Limited, and others. In 2018, Patanjali held the largest market share in the country’s herbal products market, and the company is expected to continue its dominance through 2024. “India Herbal Products market is expected to grow at a steady pace due to the rising awareness about side effects of chemical formulations among the consumers. Adults and young adults are the primary buyers of herbal products, and consequently, they would continue to be the target consumer segments for the major players operating in India herbal products market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Herbal Products MarketBy Category, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India herbal products market and provides statistics and information on market structure, consumer behaviour and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in India herbal products market.
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