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
3© TechSci Research
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. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
4© TechSci Research
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. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
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
Research Methodology
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
Research Methodology
• 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
Research Methodology
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
10© 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.
11© TechSci Research
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
12© TechSci Research
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Report Name: INDIA HERBALS PRODUCTS MARKET
FORECAST & OPPORTUNITIESFY2015 – FY2025
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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