How FMCG companies are giving new dimensions to Ayurveda industry
Ayurveda has evolved a lot ever since its inception. Hindu culture involves Ayurveda and has been benefiting from it uses. The medicines and procedures have been passed on to generations and their authenticity cannot be questioned. Though Ayurveda was not gaining as much attention some years back, it has garnered its present position by imbibing various changes and innovations in how things were done earlier.
FMCG companies have played a major role in bringing Ayurveda back to the limelight. With various new uses and products being taken out every day, Ayurveda is getting a makeover to match up with the present needs of consumers who might not want to go back to the older ways.
The Varieties
FMCG companies have taken Ayurveda to a new level. Companies like Dabur, Baidyanath, Patanjali, Hamdard and many others have climbed up the ladder of growth by producing new varieties of products which are desirable by the consumers. Nowadays, ayurvedic products are the most popular among the consumers since they are available in every product imaginable. From soaps to creams, Ayurveda has caught up with all the sections in the FMCG sector.
The Market
Ayurveda is an industry which is growing at a faster rate and when it is observed from the view of FMCG companies, it seems to promise growth and new developments. According to Techsci research on ‘Indian Ayurvedic Products market’, the Ayurveda industry will experience a CAGR of 16% during 2016- 2021. The online availability of products and services will add more to this growth as consumers will have easy access to them. FMCG brands in non- ayurveda industry has seen a lot of change in the pattern of their sales ever since ayurvedic toothpastes and such products have hit the market. Brands like Patanjali and Dabur have gained a lot from their Ayurveda products as compared to their counterparts.
The Makeover
There are a plethora of products available in the market but when it comes to Ayurveda products; FMCG companies have not left any stone unturned. They have made available services and products in each and every category which is a complete makeover in itself for the industry. Ayurveda has been always been related to old techniques and ingredients being mixed up together for effective remedies but the FMCG companies have given it a toss. They have infused Ayurveda with daily life products like soaps, creams, toothpastes, shampoos etc and this has brought a new life in the Ayurveda industry.
The Scope
FMCG companies which have ventured in Ayurveda have a wide and better scope as the consumer preference is going more towards natural, organic and ayurvedic products. The market seems bright for FMCG companies as there is no dearth of varieties and Ayurveda is popular among people. FMCG companies have introduced competitive prices on their products in this category and the consumption for these has increased. The rural consumption for such products is much more as compared to the urban consumption. This is going to increase considerably in the coming years as the ayurvedic trend is catching up.
Conclusion
Ayurveda is a very old system and has been utilised by our ancestors to tackle every problem of life. Now, in the 21st century, Ayurveda is still being used but with many new changes and alterations. FMCG companies have taken over the industry and have put it to good use by bringing out products from every possible category. This has not only increased the growth in the market but has also helped consumers to get connected to their roots, though in a new way.
