Here are Five Emerging Ayurvedic Business Models that are Selling
The ancient practice of Ayurveda has always been the glory of Indian culture. And recently, this ancient practice has taken the world by storm and has become an industry, which was poised to reach $9791 million by 2022.
Just a matter of a few years and the practice called ‘Ayurveda’ has now become a global trend that has started prevailing in other areas of the economy too. Today, Ayurveda is not just limited to the alternative healing sector but has become a part of other industries too. The big players in global industries like beauty, medicine, education, FMCG, fitness, and hospitality are incorporating Ayurveda in their business model.
To gain a deeper understanding, let’s delve deep into these industries that are proving to be a promising ayurvedic business model.
Ayurvedic Spas and Salons
In a recent study, it has been revealed that 71 percent of consumers said that they choose a face cream or body lotion if it is only ‘natural’, 38 percent said they would like to purchase a shampoo or hair oil of it is prepared of ‘botanical’ ingredients. The changing perception of people due to various factors like increased awareness, the consciousness of people towards harmful effects of chemical-based treatments/services/products, environment conservation, etc has helped in escalating the trend of incorporating ayurvedic ingredients and practices to enhance their beauty.
One of the largest hotel chains in India, VIVAANTA has forayed into Ayurvedic Spa and Hair Salon to captivate audience towards them.
Previously, the ayurvedic products and services in the mainstream Indian market were just confined to hair-oils, local dietary supplements, and other products that were solely based on natural ingredients. But now, natural ayurvedic ingredients are increasingly being integrated into a huge range of products including shampoos, skin care creams, oils, and powders, toothpaste gels, and soaps, cough syrups, teas, packaged juices, and natural supplements, among other fast moving consumer goods. Some of the few big players in the field are Dabur, Hindustan Unilever, Sri-Sri Tattva, Hamdard, Baidyanath, and so on.
These products are not solely made up of natural ayurvedic ingredients but a fine amount of those ingredients are amalgamated in them. This way, the influence of Ayurveda benefits these companies and ayurvedic products and services are becoming more familiar to the public. This fusion of chemicals and natural ingredients gives Ayurveda a new dimension altogether.
As there is increasing awareness about the side effects of allopathic medicines, people tend to focus more on natural medicines and treatment systems. This has given rise to ayurvedic medicines and nutraceuticals. The concept of nutraceuticals is derived from the ancient practice of Ayurveda itself that has been picked in their original form from the classical texts of Ayurveda. In the ancient times, the ayurvedic medicines were clubbed in the unorganized sector, run by local ‘vaidyas’. The sector is now gradually shifting towards the organized sector, thanks to companies like Patanjali, Dr. Baidyanath, Amrutanjan healthcare, etc.
Ayurvedic Experience Centres
While ayurvedic products and services are gaining momentum among the millennial, it’s the idea of holistic wellness that is pushing the ayurvedic industry even further. The ayurvedic experience centers ensure to grab the attention of those who want the life of convenience. The big players like Keva Ayurveda, VLCC, and Shree Dhanvantri Ayurveda Hospital are making this innovative approach one of the biggest trends in the Ayurveda industry.
Ayurveda has not just limited itself to the beauty and health industry but has also forayed into the field of education. As Ayurveda is gaining a lot of momentum, we can see a lot of people enrolling for colleges and universities where they teach about Ayurveda. There are a lot of institutes that are gaining popularity among millennial. Therefore, business owners are also expanding themselves in the field of ayurvedic education.