The demand for ayurvedic and herbal cosmetics and grooming products has surged in Gujarat's major cities over the past five years. This is due to their natural ingredients, fewer side effects, and noticeable health benefits.
The overall market for ayurvedic products has grown at a compound annual growth rate (CAGR) of 12-15% in the last five years.
Nutraceutical products have seen a CAGR of around 8-10%, with Gujarat ranking fourth in India.
Significant market potential According to the Gujarat Ayurved Aushadh Manufacturers Association (GAAMA), the combined market size of nutraceuticals and ayurvedic medicine in India shows significant growth and market potential.
The Ayush industry reached USD 18.1 billion (approximately Rs 1,49,451 crore) in 2020, up from USD 2.85 billion (approximately Rs 23,532 crore) in 2014-15.
This story is from the August 12, 2024 edition of Ahmedabad Mirror.
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This story is from the August 12, 2024 edition of Ahmedabad Mirror.
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