UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
Call for Paper
Volume 11 | Issue 3 | March 2024

JETIREXPLORE- Search Thousands of research papers



WhatsApp Contact
Click Here

Published in:

Volume 8 Issue 6
June-2021
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

7.95 impact factor calculated by Google scholar

Unique Identifier

Published Paper ID:
JETIR2106326


Registration ID:
310618

Page Number

c384-c395

Share This Article


Jetir RMS

Title

Product Launch Strategy For Ayurvedic Products Post-Pandemic- A Roadmap For European Markets

Abstract

As per{recent report (Global Ayurvedic Market 2019) published by Industry research, raising awareness with respect to a very healthy lifestyle and increasing preference for herbal or chemical-free products have led to the expansion of the Ayurveda market , that too globally. The market was valued at US$4.5 Billion in 2017 and is expected to reach the US $ 14.9 Billion by 2026 at a CAGR of 16.14%. The global market for complementary and alternative medicine products is forecasted to grow at a CAGR of 18.2% until 2024. The European pharmaceutical market is expected to grow at about 3% per annum. This trend is projected in the coming years and will create opportunities for Ayurvedic product manufacturers. There are several reasons which account for this projected latitude- natural ingredients and mixtures used in nutraceuticals, supplements and natural remedies are not grown in Europe. For a product like a turmeric that is not grown in Europe, South Asian suppliers can take this opportunity and use it for their benefit. There are many such botanical and essential oils that are used in Ayurveda which cannot be found there. Several Europeans, especially the elderly population are rapidly incorporating nutritional supplements in their respective diet in the hope to reduce the negative impact of the chemicals. The lack of availability of these products during these unprecedented times in foreign markets needs a quick eye of the industry’s key players. The belief of consumers has had a shift from “lifestyle up-gradation” to “precaution and prevention”. This research focuses on and identifies the need for Ayurvedic products across cultures in the European market in the current times (January 2021). The paper provides a suggestive roadmap for the launch of a new product in the European market and sustainable strategies to ensure competitive advantage. Risk mitigation strategies with a long term aim have also been discussed.

Key Words

ayurvedic, nutraceuticals, pharmaceutical market, new product, competitive advantage

Cite This Article

"Product Launch Strategy For Ayurvedic Products Post-Pandemic- A Roadmap For European Markets", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 6, page no.c384-c395, June-2021, Available :http://www.jetir.org/papers/JETIR2106326.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Product Launch Strategy For Ayurvedic Products Post-Pandemic- A Roadmap For European Markets", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 6, page no. ppc384-c395, June-2021, Available at : http://www.jetir.org/papers/JETIR2106326.pdf

Publication Details

Published Paper ID: JETIR2106326
Registration ID: 310618
Published In: Volume 8 | Issue 6 | Year June-2021
DOI (Digital Object Identifier):
Page No: c384-c395
Country: Delhi, Delhi, India .
Area: Management
ISSN Number: 2349-5162
Publisher: IJ Publication


Preview This Article


Downlaod

Click here for Article Preview

Download PDF

Downloads

000724

Print This Page

Current Call For Paper

Jetir RMS