Why Ayurveda Startups Are Trending

As our lives get increasingly beset by chronic and lifestyle diseases, we are turning towards alternative medicines to find a way out. Coronary illnesses, obesity, uncontrolled sugar, pulmonary issues are common among urban middle-class people. They are a result of poor lifestyle choices, lack of balanced diet, the sedentary nature of our work and, of course, environmental issues, such as pollution. Given the alarming proportion of morbidity from these preventible diseases, 

it should come as no surprise that people are turning towards age-old remedies as suggested by Ayurveda, Naturopathy and Siddha systems. 

These humoral traditions believe that illnesses and well-being are the results of the presence or the lack of humour in the body. Good health can be achieved through balance and the perfect harmony between the mind, the body and the soul. 

Ayurvedic Industry in India

Thanks to the recent efforts by the government, and general awareness about the ill effects of western bio-medicine, there is a renewed interest in ayurvedic products. The Indian Ayurvedic product market has consistently grown over the past five years and is expected to further grow at a CAGR of around 15% during the period 2021 and 2026. What is particularly interesting about the Indian Ayurvedic industry is that although there are a couple of big players (Dabur, Patanjali, etc.), almost 80% of the industry is filled with small and medium enterprises.

Factors for the Growth of Ayurvedic Industry

There are several reasons why Ayurvedic start-ups are flourishing:

• The government has set up the ministry of AYUSH to promote the research and development of alternative medicines in India, including Ayurveda. A budget of Rs 3,400 crore has been set aside for the next 5 years for the development of Ayurveda.
• There is a growing demand for herbal and natural products among people. They are much more critical of the harmful side effects of western medicine and are turning towards alternative medical systems. Ayurveda is one of the most preferred choices for those who are looking for holistic wellness. 
• The Covid-19 has further boosted the preference for Ayurvedic products. The pandemic has brought about a demand for boosting immunity. Traditional ayurvedic medicines with their focus on healing the mind, body and soul have been the answer to the increasing demand. Many companies are now manufacturing Ayurvedic medicines to prevent Covid-19.
• In the Ayurvedic industry, franchising has been another positive factor for growth. Unlike western bio-medicine, Ayurvedic medicines can be manufactured by small and medium-sized companies. As such the franchise model has been the favourite among Ayurvedic entrepreneurs since it is easy on the pockets and is a great business model for young entrepreneurs. 
• Ayurveda also offers a variety of products that can treat the mind, body and soul. Unlike western bio-medicine that usually focuses on the disease at hand, Ayurveda can take into account the well-being of the entire body. This itself makes Ayurveda an exciting proposition when it comes to urban middle-class consumers. All these factors make Ayurvedic start-ups the hottest trending topic in the world of medicine right now.