The emerging demand for Herbal, Organic, Ayurveda and Natural products led to the expansion of the industry at a global level. According to the source, the market for such products has increased from INR ~ billion in FY’2011 to INR ~ billion in FY’2016 growing at a CAGR of ~% during FY’2011-FY’2016. Due to the rising popularity of lifestyle disease across the world, the market of these products is booming. Apart from a market perspective, these products have no side effects and could be beneficial to prevent diseases.
The massive marketing and promotional activities by the herbal companies and escalating awareness about benefits of using herbal products have accelerated the vastness of the industry. With proper government support and numbers of companies entering the segment has contributed to the sector. Some of the major players in the market are Dabur, Patanjali, Himalaya etc.
The Minister of Commerce and Industry Suresh Prabhu quoted at the event on Herbal Products that:
“We now have an opportunity to bring the Indian system of medicine in the mainstream, and integrate the AYUSH infrastructure into the Indian healthcare system” .
The Herbal market has appropriate potential to grow and to bestow this growth an international Herbal Expo is happening in Bangkok, Thailand between 1st to 3rd Feb 2019. The idea behind the expo is to assist Indian as well as international companies to form a connection and represent and expand their business on a much wider level.