Ayurvedic industry and its needs

Ayurvedic industry and its needs
Ayurvedic industry and its needs

Let’s address the big fat dinosaur who’s soon going to become too big to contain in the house, let alone the room- The Indian Ayurvedic industry. A study by Confederation of Indian industry states that the Ayurveda sector in the country will achieve a gross market size of a whopping 4.4 billion dollars by the end of 2018. If this isn’t a dinosaur growing at a maniacal rate, what is? This gold mine of a market comprises of ethical, classical, over-the-counter, personal care and beauty products. Not to forget services like medical, well-being and medical tourism services, which is just one-fourth slice of the whole pie. Which means that majorly it’s the products that are the driving force of the industry. If one goes by the notion, it’d be a little surprising to look at the ageing population as the sole contributors of this market. Who are these people filling the lacuna of our analysis?

Rise of the planet of the health-conscious Indian youth

As a teenager, I was quite fascinated and amused by my grandfather’s obsession with Desi Cow Ghee. I would immerse in his formulations and recipes and would wonder how something as simple as cow ghee catches his fancy. I used to watch him wash the cow ghee with purified water in a copper vessel for hours, chanting Vedic mantras while doing so. On being asked what he was up to, he would simply smile at me and tell me it was a timeless secret of Ayurveda. I wasn’t sure if I understood what I heard but he had my attention. Fast forward almost two decades and I decided to revisit my roots.

Having traveled the world, I had realized the importance of organic revolution that had hit the youth everywhere. A pursuit of a healthier lifestyle had become a nationwide obsession back home. Research indicates that 48% of consumers in India aim to live a healthier lifestyle.

Where does Ayurveda stand in the picture?

Indian brands are uniquely positioned to use our heritage of Ayurveda and combine it with modern science to create truly efficacious, world-class products. I was no exception to this trend. Coming back to revisiting my grandfather’s Ayurvedic secrets, I had to do something about it and something worthwhile. So I purposefully inherited his obsession with Desi Cow Ghee and started figuring out ways to introduce it as a part of everyday beauty regime. This is how Alyuva was born.

Challenges we face as an industry

It won’t be an exaggeration to call ourselves the torchbearers of Ayurveda 2.0, whereas opposed to legacy players, we have the ability to combine herbs with modern practices. Although growing at a significant rate, the Ayurvedic sector does suffer at the hand of low adoption among millennials in addition to other issues such as lack of manpower and inconsistency of raw material quality. Bringing Ayurveda in the mainstream is the need of the hour and can be brought about by the following in my opinion:

  • Training of skilled professionals: Not only is there a lack of skilled professionals, right from doctors, therapists, nurses, paramedical staff but there appears to be a lack of uniformity in skill and knowledge among the available manpower too. If we are looking at sustainable growth, then a rise in vocational courses and workshops is the order of the day.
  • Government intervention: Government needs to take adequate actions to conserve and cultivate traditional varieties of medicinal plants in the country, in order to take care of the shortage of medicinal plants. 
  • A healthy mix of offline & online networks: The Ayurvedic sector needs to have a well-established logistics and distribution network so as to compete with bigger and more established peers. Everyone needs to grow at a steady pace for the overall growth of the sector.

We might have just started and started how the opportunities ahead for our sector are unmistakable.

This article has been contributed by Deeptanshu Bansal, CEO & Co-Founder of Alyuva

HelloPost Team

HelloPost Team takes an opportunity to help your business adapt and succeed in the changing marketplace. We are committed to sharing perspectives, insights, analysis, and trends that challenge and inform others within the industry.

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