Luxury Ayurveda market is comprised of high end ayurvedic products such as personal care and wellness ayurvedic products. Luxury Ayurveda market is an emerging at significant pace worldwide. Growing number of companies, offering high end ayurvedic products are driving the growth of luxury Ayurveda market globally. The report is analyzing the market development of luxury ayurvedic products worldwide.
Growth Drivers – Luxury Ayurveda Market
Growing Income Level
The income-earning capacity and the per capita income of a lot of people has increased. Millennials with enough affordability influenced by social median and standard lifestyle are routing towards luxury brands. The awareness among global population regarding luxury brands are also encouraging the demand for luxury products. Consumer’s in developing countries disposable personal income is rising at unprecedented rate, which in turn creating a significant demand for luxury products. As disposable incomes are increasing, people are splurging on small luxuries such as premium cosmetics. Thus, this growing income level of consumers is accepted to foster the growth of the global luxury Ayurveda market in upcoming years.
Rising Demand for Ayurveda Products
Worldwide, Ayurvedic products are increasing in popularity. The rise of Ayurveda is being fueled by growing emphasis on the importance of healthy lifestyles, consumers are choosing ayurvedic products over non-herbal products to avoid any unfortunate health related circumstances. Global consumers are becoming selective when it comes to personal care, consumers are happily spending on personal care products that can offer a safe and effective result. Ayurvedic personal care products throughout the globe have received remarkable attention in recent years and is likely to positively influence the market of luxury ayurvedic products in the near future. Apart from this, the hospitality industry has also shown great interest in luxury ayurvedic products to offer high-quality customers experience. This factor is also bolstering the growth of the market for luxury products. For instance, Forest essential’s major clients are big hotel chains like Taj Hotels, The Oberoi Group, The Ritz Carlton, and The Four Seasons.
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Wellness & Medical Tourism
India has always been a center of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homeopathy. and have attracted global population throughout the history. Increasing visiting of foreigners in India seeking the knowledge & benefit of Ayurveda, Yoga, Sidha and others have also inspired the expansion of luxury Ayurveda outside of India, in foreign markets. Rapid emergence of Luxury Ayurveda companies in western countries is also a key growth driver for the global luxury Ayurveda market.
Other Growth drivers in the Luxury Ayurveda Market
India has a rich heritage of medical wisdom derived from the Vedas that prevailed as Ayurveda. Government of India is actively supporting the growth of Ayurveda within India and promoting Ayurveda in foreign countries. Indian government is implementing various policies and initiatives to support the growth of Ayurveda, which in turn is poised to aid the growth of global luxury Ayurveda market in near future. Ayurveda has become a hot topic in recent years. There is strong rise in awareness among the global population, mainly influenced by social media, government initiatives and personal curiosity. Ongoing widespread digitization in Ayurveda sector is influencing a wider mass of population on helpful ayurvedic products. The manufactures of luxury ayurvedic products are implementing remarkable packaging, marketing and advertising strategies, which in return are increasing the demand for luxury ayurvedic products. Growing internet penetration in developing and underdeveloped countries, rise of e-commerce and expansion of luxury Ayurveda companies in major countries across the globe are together easing the accessibility of luxury Ayurveda products.
Barriers – Luxury Ayurveda Market
Despite of growing at a unprecedent rate, Luxury Ayurveda market is confronting several market challenges. Presence of Non-luxury ayurvedic brands such as Patanjali and more is a real hinder in the growth of Indian luxury Ayurveda market. Middle class households are strongly relying on non-luxury Ayurvedic products. Also, strong prevalence of non-ayurvedic personal care brands is posing a challenge to luxury Ayurveda market.
The research offers a comprehensive analysis of Luxury Ayurveda market with respect to following sub-markets:
- Face Care Products
- Hair Care Products
- Bath & Body Products
- Wellness Products
By Distribution Channel
- Offline Stores
- Online Stores
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- Kama Ayurveda
- FOrest Essentials
- Just Herbs
- Khadi Natural
- Spa Ceylon
- Vedic Vana
- Bio Ayurveda
- Mantra Herbal
- Ayurveda Inspired Naturals
- Ananda In The Himalayas
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities).
The study also provides company’s positioning and market share in Luxury Ayurveda market.
Timeline Considered for Analysis:
2019- Base Year
2020 – Estimated Year
2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Luxury Ayurveda market by the following segments:
- Distribution Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global Luxury Ayurveda Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?