How to Start Ayurvedic Marketing Company in India
How to Start Ayurvedic Marketing Company in India – If you have thoughts of starting your own business in the Ayurvedic sector of India, then you make the right decision. Here you will get detailed information regarding How to Start Ayurvedic Marketing Company in India. This article will try to clear out your all doubts and show up a way to start your own business in India is one of the most demanded sectors.
India’s Ayurvedic Market Analysis
The overall Ayurvedic market valuation is approximately $ 6.70 billion and is rising at a tremendous rate on the global platform as well. You will be amazed to know the almost entire (80%) market is ruled by medium, small, and micro-level companies. The topmost authority of govt is the AYUSH Ministry which works towards the encouragement and promotion of ayurvedic products as well as awareness regarding homeopathic medical practices. Also, the compound annual growth rate (CAGR) for the ayurvedic sector in 2021-2026 is expected to grow 15%. Indian Ayurvedic not only deals with the healthcare sector but also has a large share in FMCG. The major segments within the Ayurvedic sector-
- Healthcare Range
- Herbal Medicines
- Herbal Nutraceuticals & dietary supplements
- Organic Herbal Personal Care Range
What Factors Lead To Rising Demand For Ayurvedic Products?
- Even Though Ayurvedic was always a part of Indian daily chores passing through generations. But on a larger scale and in the fastest-growing high-tech nation, it is amazing that consumers are looking back to its heritage and changing lifestyles for good. Some main highlighted factors for this change in consumer’s perceptions are –
- Awareness in this customer generation regarding harmful effects of synthesized products
- The rising economy is directly or indirectly linked to this awareness. More people are getting an education and per capita income is increasing as well.
- Now, people are spending more time to keep healthy and keep their families healthy. Organic and herbal is a new trend that is widely influenced new social media generation.
- Also, govt. policies and initiatives are putting extra efforts in promoting Indian heritage “Ayurveda” on an international platform. It all started with popularizing Yoga.
- Most importantly, influence came from digitally. People are connecting and sharing experiences. Encouraging others to try out new products!
- At last, there is doubt in the effectiveness of our Ayurveda remedies and their overall effective approach for the treatment. It is safe and connects us to our beautiful past.
Steps To Start A Profitable Ayurvedic Marketing Company In India
- Renting A Place – The first step is to rent a place in a prime location for all retail purposes. But if you are thinking of wholesale business, locations really doesn’t matter.
- Naming your company – Then Brainstorm and come up with a good name for your company. It is very important to choose a name and tagline which truly showcases your company’s value. Another thing you should keep in mind is the mission line, vision line, and values of your business. You can also trademark and register your company’s logo.
- Market Research – Now, this is a time to do some research about the target market, quantity, size, and other important parameters. Market Research consists of knowing what is your target audience, your competitors, and consumer perceptions.
- Marketing Strategy – This step is all about planning out marketing strategies. Making a Digital presence should be on the topmost priority list. As per reports suggested, over 70% of people are searching online and reading reviews before making any decision.
- NABH Accreditation – Accreditation is an important part of running an Ayurvedic Company. For this, you will need NABH Accreditation which operates the programs of healthcare. It is compulsory to acquire this accreditation.
- GST Registration – However, registration for the GST number is only needed when the turnover of your company crosses 20 lakhs.
- List of Herbal Products – Based on your market research, make a list of the most demanding products in a particular area and start your ayurvedic business!
At last, hope you find all the answers regarding the topic “How To Start Ayurvedic/Herbal Business” and will help in making the right decision. One right decision is taken by you by thinking of entering or investing in the Ayurvedic sector of India.
Frequently Asked Questions (FAQ)
Q – Even after the Pandemic, Ayurvedic sector will be profitable?
A – Yes, definitely pandemic boost the already increasing demand and it will be high even after profitable.
Q – Which herbal products are high in demand in the Indian Market?
A – Herbal medicines and personal care ranges are highly in demand in the Indian Market. Other Nutraceuticals & supplementary range is also gaining popularity.
Q – What accreditation is necessary while starting your own ayurvedic marketing company?
A – NABH Accreditation is necessary while starting your own ayurvedic marketing company.