Study pegs Ayurveda product biz at Rs 1.2 L cr
The overall market for Ayurveda products and services is expected to grow at a CAGR of 15 per cent from FY23 to FY28, it added.
Agencies
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NEW DELHI: India’s Ayurveda product market is projected to reach $16.27 billion or Rs 1.2 lakh crore by FY28 from $7 billion or Rs 57,450 crore at present, according to a study.
Ayurveda product market has experienced significant growth due to rising demand for natural and herbal remedies in local and international markets, increase in ayurvedic medical practitioners, government initiatives, and emergence of new entrepreneurs, Ayurveda tech startup NirogStreet said.
Citing a survey, NirogStreet said the Ayurveda product market in India is expected to grow significantly, with projections indicating a substantial increase in market value to Rs 1,20,660 crore ($16.27 billion) by FY28.
The overall market for Ayurveda products and services is expected to grow at a CAGR of 15 per cent from FY23 to FY28, it added.
