A study by the Confederation of Indian Industry (CII) said the ayurveda sector in the country will achieve a gross market size of $ 4.4 billion, or roughly Rs.30,000 cr. by the end of 2018. To add to the bullish outlook, the Indian ayurveda industry is projected to record a compounded annual growth rate of a robust 16 % until 2025. It said as much as 75 % of the $ 4 billion Indian ayurveda market is accounted for by products and only a quarter of the market size is contributed by services. The $ 4 billion domestic market comprises ethical, classical, over-the-counter, personal care and beauty products. It also includes services like medical, well-being or medical tourism services. The size of the Indian ayurveda industry at Rs.30,000 cr. per annum compares well with the overall market size of the Indian wellness industry which is put at Rs.85,000 crore. What is significant is that the Ayurveda sector is poised to grow at high double-digit levels in the coming years, and that it continues to be the most important player in the global ayurveda market. Two challenges to the sector pointed out by the CII study are a shortage of manpower and shortage of quality raw materials.

(Economic Times)