Associate Professor, Indira school of Business studies, Pune
Online published on 11 October, 2019.
About 80 percent of world population depends on natural products for their health care instead of modern medicines primarily because of side effects and high cost of modern medicine. Presently the demand for traditional Indian herbal products has increased tremendously in India and abroad with rising awareness about health and fitness and changing lifestyle. However, dietary supplements, herbal and nutritional supplements will form the greatest opportunity areas for Neutraceutical processing, motivated by growing demand from an evolving consumer base. Ayurveda is one of the most ancient health sciences evolved in India almost 5000 BC and practiced therein. The crude drugs have therapeutic benefits significant for both humans and animals. The rural market in India has vast size and offers a huge opportunity for investment. The demand for ayurvedic formulations is increasing both in the domestic market as well as internationally. Rural market in Maharashtra has tremendous potential for Ayurveda Industry but very few know how to either identify these consumers or reach out to them.
Ayurveda, Consumer Behavior, Market, Brand Preference, Medicines
