According to TechSci Research report, “India Herbal Products Market– By Region, Competition, Forecast & Opportunities, 2019-2029F,” India herbal products market is expected to grow during the forecast period owing to the rising trend of chemical free cosmetic products for hair care, face care, and skin care.
Herbal products are traditional ayurvedic and natural products based on Indian healthcare system. Some examples are herbal supplements, teas, oils, and powders made from natural ingredients such as herbs, spices, roots, and fruits. They promote health and overall well-being by restoring balance to the body and mind and are used to treat a variety of health issues, including digestive issues, stress, sleep issues, and skin problems. They have fewer side effects than synthetic chemicals because they are made from natural ingredients. Therefore, key market players are introducing herbal products based on individual requirements and product types in the country.
With the rising demand for herbal products in the country, herbal products key participants are concentrating on releasing new items and broadening their product portfolio to meet the rising demand. For instance, in 2022, Medimix, a renowned AVA group’s flagship brand, introduced its new hair care product, Total Care Shampoo. Medimix Total Care Shampoo is enriched with natural ingredients and is suitable for all hair types. Thus, industry has grown significantly throughout the years because of the popularity of plant-based components used in personal herbal care and cosmetics products and will continue to rise throughout the anticipated period.
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Furthermore, the growing popularity of herbal products as a healthy and safe alternative to chemical-based products is propelling the India market growth. Moreover, the easy availability of herbal products through online and offline distribution channels, as well as the increasing affordability and ease of access to products in the country, are fueling the market growth.
Herbal products are suitable for people of all ages and skin types. Post COVID-19, there is a certain growth within the awareness of harmful chemicals. As beauty products usually have negative long-term effects, the market is shifting towards herbal beauty products. Also, the demand for herbal ingredients in products related to skin acne and hair problems is increasing. The major market players are focusing on acquiring various firms in the beauty care segment in order to broaden their customer base and attract customers who prefer healthy, whole, and natural products. Furthermore, due to the popularity of plant extracts and their use in personal herbal care and cosmetics products, this segment is anticipated to grow at a higher rate during the forecast period.
The India herbal products market is segmented based on category, distribution channel, region, and competitional landscape.
Based on category, the market is further fragmented into personal care & cosmetics and healthcare. Among these segments, personal care & cosmetic products are dominating the market, due to rising awareness of the health benefits of herbal beauty products, such as skin improvement, acne reduction, and the removal of fine lines to slow the aging process, thereby significantly increasing the market demand.
Based on distribution channel, the market is segmented into traditional & departmental stores, supermarkets/hypermarkets, multi-branded cosmetic stores, exclusive stores, medical stores, online, and others (wholesales, direct sales, distributors & dealers). Among these segments, online is the fastest growing due to availability of doorstep delivery, discount, and availability of a wide range of products on one platform.
The market analysis also studies the regional segmentation among North, South, East and West.
Key market players in the India herbal products market include:
- Patanjali Ayurved Limited
- Dabur India Limited
- The Himalaya Drug Company
- Amway India Enterprises Pvt. Ltd.
- Lotus Herbals Pvt. Ltd.
- Forest Essentials Emarketing Private Limited
- VLCC Personal Care Limited
- Ayur Herbals Pvt. Ltd.
- Organic India Pvt. Ltd.
- Herbalife Nutrition Ltd
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“The development of new products and the growing use of cosmetics to treat skin, acne, and hair problems with natural components like lavender, chamomile, rosemary, jojoba oil, and aloe vera, have significantly contributed to the demand for herbal products. Additionally, increasing adoption of herbal products and the rising consumer preference for cosmetic products with less chemical content, are the factors that are projected to support the growth of the herbal products market in India during the forecast period”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
India Herbal Products Market, By Category (Personal Care & Cosmetics and Healthcare), By Distribution Channel (Traditional & Departmental Stores, Supermarkets/Hypermarkets, Multi-branded Cosmetic Stores, Exclusive Stores, Medical Stores, Online, and Others (Wholesales, Direct Sales, Dealers & Distributors), By Region, By Company, Forecast & Opportunities, 2019-2029F, has evaluated the future growth potential herbal products and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in herbal products market, globally.
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