India Herbals Products Market Growth, Trend & Forecast 2025

MARKET INTELLIGENCE . CONSULTING

www.techsciresearch.com

FY2015 – FY2025

INDIA HERBALS PRODUCTS MARKET

FORECAST & OPPORTUNITIES

2© TechSci Research

Scope of ReportProduct of Interest (POI): Herbals Products

Review Period

FY2015 – FY2018

Base Year

FY2019

Estimated Year

FY2020

Forecast Period

FY2021 – FY2025

Year Range

India herbal products market is projected to grow at a robust CAGR during the forecast period.The herbal products market in India is growing due to the rising awareness about the side effectsof chemical formulations and health benefits of herbal supplements over artificial ones.Moreover, in India, the consumer preference is shifting towards safe, natural and luxuriousproducts due to increasing disposable income and rising popularity of plant-based ingredients.

Market Segmentation

REGION

• North

• East

• West

• South

CATEGORY

• Personal Care & Cosmetics

• Healthcare

DISTRIBUTION CHANNEL

• Traditional &

Departmental Stores

• Supermarkets/Hyperm

arkets

• Online

• Others


Table of Contents

S. No. Contents Page No.

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on India Herbals Products Market

4. Executive Summary

5. Voice of Customers

5.1. Brand recall

5.2. Sources of Information

5.3. Preferred point of purchase

5.4. Factors influencing purchase decision

6. India Herbals Products Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Category (Personal Care & Cosmetics and Healthcare)

6.2.2.By Distribution Channel (Traditional & Departmental Stores,Supermarkets/Hypermarkets, Online and Others)

6.2.3. By Region

6.2.4. By Company (FY2019)

6.3. Market Attractiveness Index

7. India Herbals Personal Care & Cosmetics Products Market Outlook


7.1.1. By Value



Table of Contents

S. No. Contents Page No.

7.2.1 By Product Type (Cosmetics, Skin Care, Body Care, Others)

7.2.2. By Distribution Channel

7.3. Pricing Analysis

8. India Herbals Healthcare Products Market Outlook


8.1.1. By Value


8.2.1 By Product Type (Nutraceuticals and Pharmaceuticals)

8.2.2. By Distribution Channel

8.3. Pricing Analysis

9. Supply Chain Analysis

10. Import-Export Dynamics

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Policy & Regulatory Landscape

14. India Economic Profile

15. Competitive Landscape

16. Strategic Recommendations

17. About Us & Disclaimer

RESEARCH METHODOLOGY

6

Research Methodology

✓ Identifying Key Opinion

Leaders

✓ Questionnaire Design

✓ In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players in India herbals products

market, overall market size and segmental market size.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about India herbals products

market.

Data

Collection

Data Filter

& AnalysisResearch &

Intelligence

Actionable

InsightsBusiness

Solution

Primary Research Desk Research Company Analysis

✓ Recent Developments

✓ Market Changing

Aspects/Dynamics

✓ Government Policies

✓ Conclusion

✓ Market Participants

✓ Key Strengths

✓ LinkedIn✓ TechSci Internal

Database

✓ Factiva✓ Hoovers

Paid Sources

✓ Company Websites✓ Company Annual

Reports✓ White Paper Study✓ Financial Reports✓ Investor

Presentations✓ Regulatory Body✓ Associations, etc.

Secondary Research

Primary Research

7


Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of India herbals products market. The team has analyzed the

outlook of various segments of this market, while considering the major influencing factors such as the rising awareness about the side effects of

chemical formulations. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to

achieve sustainability in India herbals products market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value: Market size, in terms of value, for the year FY2019 was calculated based on information collected through exhaustive

secondary research and primary surveys, with various key opinion leaders/stakeholders, such as herbals products companies, channel partners, end-

user industry experts, and other industry participants.

• The team interviewed more than 15-20 herbals products market companies, 100 – 120 end use industries, and 15 – 20 industry experts and other

value chain stakeholders in India herbals products market to obtain the overall market size for FY2015-FY2019, which was validated by the Delphi

technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for FY2015-FY2019.

8


• Respondents were asked about the current and future market growth rates, market shares by category, by distribution channel, by region and by

company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various

segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from

other stakeholders.

Methodology Followed for Calculation of Market Shares:

• Market shares by category, by distribution channel, by region and by company were calculated based on the responses received through primary

surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of herbals

products market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after

eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in

SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India herbals

products market, TechSci Research used various forecast techniques such as:

✓ Moving Average

✓ Time Series Analysis

✓ Regression Analysis

✓ Econometric and Judgmental Analysis

9


TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used

the impact analysis during short, medium and long- term period to estimate and analyse market demand scenario. It should be noted that the figures

compiled are only for the organized market including market share data.

Partial List of Companies Interviewed Key Secondary Sources

▪ Patanjali Ayurveda Ltd

▪ Dabur Limited

▪ The Himalaya Drug Company

▪ Amway

▪ Lotus Herbals Pvt. Ltd.

▪ Forest Essentials

▪ VLCC

▪ Ayur Herbals

▪ Khadi Natural

▪ Herbalife Nutrition

▪ World Bank

▪ TechSci Research Proprietary Database & Knowledge

Repository

▪ Company Annual Reports

▪ Industry Magazines

▪ Industry Reports

▪ News Dailies

▪ Credible Paid Databases

© TechSci Research


Industry Brief

According to recently released TechSci Research report, “India Herbal Products Market By Category, By Distribution Channel, By Region, Competition,

Forecast & Opportunities, 2024”, herbal products market in India is projected to grow at a CAGR of more than 18% during 2019 - 2024, due to the

rising awareness about side effects of chemical formulations and health benefits of herbal supplements. Shift consumer inclination towards products

based on natural ingredients and growing disposable income are expected to contribute to the growth of herbal products market in India over the next

five years.

The distribution channel of herbal products market is categorized into traditional & departmental stores, supermarkets/hypermarkets, online, and other

channels. Traditional & departmental stores held the majority share in India herbal products market in 2018, followed by Supermarket/Hypermarket

segment. However, during the forecast period, the share of traditional & departmental stores is expected to decline on account of higher increase in

sales through supermarkets/ hypermarkets and the online mode across the country. In terms of regions, the India herbal products market is categorized

into North, South, East and West regions. South India held the largest market share in 2018 due to higher consumer awareness about benefits of

herbal products and presence of various wellness centers across the region.

Major players operating in India herbal products market include Patanjali Ayurveda Ltd, Dabur Limited, The Himalaya Drug Company, Amway, Lotus

Herbals Private Limited, and others. In 2018, Patanjali held the largest market share in the country’s herbal products market, and the company is

expected to continue its dominance through 2024. “India Herbal Products market is expected to grow at a steady pace due to the rising awareness

about side effects of chemical formulations among the consumers. Adults and young adults are the primary buyers of herbal products, and

consequently, they would continue to be the target consumer segments for the major players operating in India herbal products market.”, said Mr.

Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

https://www.techsciresearch.com/report/india-extruded-snacks-market-by-type-potato-corn-rice-and-mixed-grain-extruded-snacks-by-region-by-company-forecast-opportunities-2021/657.html


5.006.00

7.008.00

9.0010.00

11.0012.00

13.0014.00

15.00

FY2015 FY2019 FY2020E FY2025F

By Value (USD Million)

Sample Data - Snapshot

India Herbals Products Market Size, By Value (USD Million), FY2015-FY2025F

CAGR By Value

XX%CAGR By Value

YY%

India Herbals Products Market Size, By Value, FY2019F

100%

25%

20%

17%

12%8%

Total Company 1 Company 2 Company 3 Company 4 Company 5

India Herbals Healthcare Products Market Size, By Product Type, By Value, FY2015-FY2025F

50%50%50%50%50%50%50%50%50%50%50%

50%50%50%50%50%50%50%50%50%50%50%

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020E

FY2021F

FY2022F

FY2023F

FY2024F

FY2025F

Nutraceuticals Pharmaceuticals


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Report Name: INDIA HERBALS PRODUCTS MARKET

FORECAST & OPPORTUNITIESFY2015 – FY2025

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas

to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting

models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and

global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the

market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or

complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand.

However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results

obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together

with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal

consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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