Trends in Ayurvedic FMCG Market

Abstract

The customer preference for over-the-counter drugs, processed food, soft drinks etc has led to reforms of the Fast-moving consumer goods (FMCG) industry. The Fast-moving consumer goods industry is growing at 4% per year, which is more than the global gross domestic product (GDP). FMCG is the fourth major sector of the Indian financial system. With the increasing speed of the Ayurvedic pharmaceutical market, FMCG players like Patanjali, Dabur, Emami etc. are interested in expanding to tap the market by their portfolios. FMCG sector is divided into food and beverages, health care and household along with personal care categories. Ayurvedic FMCG industry is based on the expansion and marketing of products between food drinks, health, domestic and personal care etc. In the current scenario, more than 30,000 proprietary and 1500 classical products are available in the market. The market of Ayurvedic FMCG products is estimated to register a compound annual growth rate (CAGR) of 16% between 2016 and 2021 and will increase from current $ 500 million to $ 1.1 billion by 2021. Although many FMCG products advertise the estimated results, the Ayurvedic FMCG industry is largely irregular. Mushrooming Indian population, mainly the middle class and the rural sectors, gives a chance to manufacturers of proprietary products to refurbish consumers to proprietary products. Consumers to take precautions are derived from caution and doubt, because the shift toward natural products has gathered momentum. In addition, companies of all sizes are racing to keep pace. This manuscript reviews a snapshot of current trends in the Ayurvedic FMCG market and will provide development opportunities and strategies adopted by the multi-billion dollar market.

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