New Delhi, 23 June (IANS). India’s Herbal and Ayurvedic OTC (over the counter) market is expected to increase by 6.5 percent CAGR, which will increase from $ 69 million in 2025 to $ 118 million by the end of 2033. With this growth, the market will overtake global trends. This information was given in a report on Monday.
According to the report, however, challenges remains as 40 percent of the new launch in 2024 faced regulatory obstacles, only 20 percent of the products have been clinical recognition and quality concerns affect up to 30 percent offers, causing their reliability and adoption to be limited to clinical illness.
Herbal and Ayurvedic OTC industry is told that it is growing brilliantly. According to the latest research, the industry has entered more than 70 percent of Indian homes firmly.
This information has been revealed by the latest industry analysis conducted by 1 Latis Healthcare Intelligence Research Wing MediQ, which highlights a fundamental change in consumer behavior. This shows that there has been a strong change in priority for natural and chemical-free wellness products in all age groups.
Studies show that important factors behind this rapid growth are widespread consumption of popular categories such as Chyawanprash, Ashwagandha supplements, Ayurvedic personal care, functional food and youth-tortured products such as Irctural Tablet.
The study also shows that out of the new adopters, more than 40 percent are Millennials and Jane Ji, indicating a generational change for traditional wellness.
According to the report, the market is expanding rapidly due to digital adoption, more than 10 percent of urban OTC sales is now online and 35 percent of new produce provide take-driven personalization.
Meanwhile, about 60 percent of urban consumers are actively looking for clean-labeled and biological-proposed products, indicating growing awareness among Indian consumers.
A strong wave of innovation is also seen in the region, with R&D investment in 2023 increased by 45 percent.
Globally, herbal and Ayurvedic OTC markets are estimated to increase from $ 145 billion in 2025 to $ 230 billion by 2033.
-IANS
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