Business Management

Published: Dec 29, 2021
Updated: Dec 29, 2021

FMCG firms riding ayurveda bandwagon

The Indian ayurveda industry has become one of the fastest-growing segments in the country, especially in recent times with the fear of Covid handing over millions of heads. Vaccines may be around the corner, but many Indians believe in power of ayurvedic formulations to strengthen the immune system, a key factor in fighting various ailments. Dr Vidya Hattangadi notes that a survey by market research firm Nielsen has estimated the marketshare of the natural care segment at 41 per cent of the Rs 44,790-crore personal care segment. Many MNCs have responded to the popularity of Indian ayurveda companies by coming out with their own herbal brands and also acquiring domestic ayurveda brands. Meanwhile, with a view to maintaining quality, the Ministry of AYUSH has issued new guidelines for evaluation of traditional medicinal products.

Globally, ayurveda-based products have seen a surge in demand in the wake of the Covid-19 pandemic even as scientists the world over are racing against time to bring out an effective vaccine. In terms of time, almost a year has passed in the search for a vaccine to curb the spread of the pandemic. It is well-accepted that strengthening the immune system helps a lot in combating the pandemic. In recognition of the holistic approach of ayurveda, Union Health Minister Harsh Vardhan has supported the role of ayurvedic remedies in the prevention and treatment of the coronavirus.

Prime Minister Narendra Modi in one of his recent speeches said, “The demand for immunity boosters from India such as turmeric, amla, giloy and ashwagandha products has grown globally. Despite our nation being very populous, the Covid-19 situation is under control because every household is consuming immunity boosters like turmeric milk, the ashwagandha herb, kaadha, etc. The demand for these products has increased during the pandemic.”

HOUR OF HERBS!

Ashwagandha, brahmi, cumin, turmeric, licorice root, gotu kola, bitter melon, pepper and giloy are entering households like never before. Giloy is winning the hearts of millions in the struggle against the coronavirus. It has been hailed for its medicinal properties and a host of health benefits. The scientific name of this age-old miraculous herb is tinospora cordifolia and it is also known as ‘amrita’ in Sanskrit, which literally translates to ‘the root of immortality’.

Previously, ayurveda-based products in the Indian market were restricted to hair oils, the local dietary supplement called chyawanprash, and over-the-counter palliatives. Now, natural ayurvedic ingredients are increasingly being integrated into a growing number of products, ranging from shampoos, skincare creams, oils, powders, toothpaste gels and soaps to cough syrups, teas, packaged juices and nutritional supplements, among other fast-moving consumer goods.

‘Charak Samhita’ is the conculive ayurveda treatise and the most referred text by students, scholars, teachers, physicians and researchers. It has the unique distinction of being the only text available worldwide on the most restorative science. It emphasizes the promotion of health and prevention of disease as the actual solution for controlling diseases, which is especially relevant in modern times. Further, it also seriously dwells upon the concept of healthy aging and longevity, as described in the ‘Swastha Chatushka’ and ‘Rasayana’ chapters.

Ayurvedic and other nature-cure products are increasingly being preferred by consumers across the globe, with India acting as a brand ambassador. One of the prime reasons for this is that ayurvedic and any other medicine which is not allopathic are considered ‘safe’ by a large number of people.

MNCS GO ‘NATURAL

GOVT GUIDELINES

Over the years the climate is changing, and the quality of soil is changing due to the overuse of fertilizers. Due to the altered method of collection, commercial growing, residue of chemical fertilizers and pesticides in soil and water, the standard of ayurvedic products too is deteriorating in terms of purity. Ayurvedic drugs fall under two types: classical and proprietary formulations. Those ayurvedic formulations manufactured as described in classical texts like Ayurvedic Samhita are classical drugs, while proprietary drugs are those made using plant extracts. The Ministry of AYUSH has amended Rule 170 regarding issuance of guidelines for evaluation of ayurvedic, siddha and unani drugs (ASU) and other traditional medicines of India.

The global ayurveda market is predicted to grow at a healthy CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report. Ayurveda or ayurvedic medicine is among the oldest holistic healing systems. The goal of ayurveda is in promoting good health and not fighting diseases. Ayurveda is here to stay and has golden days ahead.

(Dr Vidya Hattangadi is a renowned management thinker)