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The ayurvedic herbal extract market has experienced robust growth, expanding from $45.14 billion in 2023 to $48.47 billion in 2024 at a CAGR of 7.4%. This growth reflects a combination of cultural heritage, increased consumer awareness, supportive government policies, and a rise in chronic health conditions.

Key Drivers of Market Growth

• Cultural Heritage and Tradition: Ayurveda’s deep roots in traditional medicine continue to drive consumer interest, particularly in regions with strong cultural ties to these practices.
• Rising Chronic Health Conditions: The increase in chronic health issues has led more consumers to seek natural and holistic remedies, boosting demand for ayurvedic products.
• Government Support and Regulatory Frameworks: Many governments are promoting traditional medicine, providing a favorable environment for market growth.

Future Market Projections

The market is projected to grow to $64.81 billion by 2028 at a CAGR of 7.5%. Several factors will contribute to this continued growth:

• Wellness and Preventive Healthcare: There is a growing global emphasis on wellness and preventive healthcare, leading to increased spending on natural products.
• Technological Advancements: Innovations in extraction and formulation are enhancing the efficacy and appeal of ayurvedic herbal extracts.
• Distribution Channel Expansion: The expansion of distribution channels, both online and offline, is making these products more accessible to a broader audience.

Consumer Preference for Natural and Organic Products

• Health Consciousness: As consumers become more health-conscious, there is a growing preference for natural and plant-based products that align with ayurvedic principles.
• Environmental Concerns: Environmental awareness is driving the demand for products that are sustainably sourced and free from synthetic additives.
• Market Impact: The increasing popularity of plant-based products is reflected in the market’s growth. For example, in 2022, plant-based food sales in the US grew by 6.6%, reaching $8 billion.

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Major Players in the Market

Leading companies in the ayurvedic herbal extract market include:

• Dabur India Limited
• Emami Group
• Himalaya Global Holdings Ltd.
• Patanjali Ayurved Limited
• Organic India Private Limited

These companies are capitalizing on the growing consumer demand by expanding their product lines and investing in research and development.

Innovations in Ayurvedic Wellness Products

• Product Development: Companies are focusing on developing new ayurvedic wellness products to meet the increasing demand for natural health solutions.
• Example: In September 2021, NatureCode launched a range of Ayurvedic wellness products, including Immunology for immunity, Live Soul for liver protection, and Slim Soul for weight management. These products use scientifically validated herbs, ensuring consistent quality and effectiveness.

Strategic Acquisitions and Market Expansion

• Kerry’s Acquisition of Natreon: In April 2022, Kerry, a leading food and nutrition company, acquired Natreon to expand its ProActive Health portfolio. This acquisition allows Kerry to enhance its offerings in the botanical extracts segment, further driving innovation and market growth.

Market Segmentation

The ayurvedic herbal extract market is segmented into:

• By Type: Ashwagandha, Ajwain, Bramhi, Ginseng, Cardamom, Cumin, Basil, Neem, Licorice Root, Other Types
• By Form: Liquid Or Tinctures, Powders, Essential Oils, Other Forms
• By Application: Food And Beverages, Personal Care And Cosmetics, Pharmaceutical And Nutraceutical, Animal Feed

Regional Insights

• Asia-Pacific: Asia-Pacific was the largest region in the ayurvedic herbal extract market in 2023, driven by strong cultural ties to Ayurveda and increasing consumer demand for natural products.

Conclusion

The ayurvedic herbal extract market is set for continued growth, driven by consumer preferences for natural and organic products, technological advancements, and strategic acquisitions. With major players focusing on innovation and expanding their product portfolios, the market is expected to reach $64.81 billion by 2028, reflecting the increasing global interest in Ayurveda and natural health solutions.

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The Ayurvedic Herbal Extract Global Market Report 2024  provides an overview of the ayurvedic herbal extract market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ayurvedic herbal extract market forecast analyzes ayurvedic herbal extract market size, ayurvedic herbal extract market share, leading competitor and their market positions.

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