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An increased emphasis on lifestyle and wellness, driven by a rise in non-communicable and chronic diseases, is pushing the demand for Ayurveda in India, according to a CII-PwC report.
The report states that 77 per cent of Indian households used Ayurvedic products in 2017, up from 69 per cent in 2015.
The global market for Ayurveda is also growing. The size of the global Ayurvedic market is expected to almost treble from $3.4 billion in 2015 to $9.7 billion in 2022.
The report calls for a paradigm shift in core Ayurvedic industries using technology as an enabler, to meet the increasing demand. It emphasise the need for standardisation and quality control to launch Ayurveda on a global scale.
Kerala is well-positioned to cater to this rising demand for Ayurvedic products and services. The State has the singularly advantage of being able to deliver products and services in all segments of Ayurveda, the report said.
Kerala, known as the cradle of Ayurveda, has many advantages. The State’s core capabilities are strengthened by a diverse range of products and services, advancements in research and education, increase in tourism, and strong support from the government. Thanks to these advantages, the State is well on its way to becoming a hub for investment in Ayurveda.
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