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:
Companies Covered in the Report
Himalaya Drug Company
Products Covered in the Report
Herbal Hair Care
Herbal Face Wash
For more information about the publication refer to below link:
Ankur Gupta, Head Marketing & Communications