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The Brahmi market share is expected to increase to USD 86.51 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.06%.
This Brahmi market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers Brahmi market segmentation by distribution channel (online and offline) and geography (Asia, Europe, North America, and Rest of World (ROW)). The Brahmi market report also offers information on several market vendors, including Dabur India Ltd., Hamdard Laboratories, Herbal Creations, Himalaya Global Holdings Ltd., Natures Velvet Lifecare, ORGANIC INDIA Pvt. Ltd., Patanjali Ayurved Ltd., Riaan Wellness Pvt. Ltd., Sabinsa Corp., Shanti Natural Extracts, Shriji Herbal Products, Thangam Extracts, and Vadik Herbs among others.
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The low side effects is notably driving the Brahmi market growth, although factors such as the inadequate knowledge about ayurvedic science in western countries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the Brahmi industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Brahmi Market Driver
One of the key factors driving the global industrial industry growth is the low side effects. In India, the consumption of Ayurvedic supplements is comparatively high due to cultural preferences for herbal medicines and increasing health concerns among consumers. The growing prevalence of obesity and other chronic health conditions encourages health-conscious consumers to opt for food and beverages with various functional benefits that boost immunity. Brahmi products are chemical-free as they consist of only herbal extracts from Brahmi plants. The primitive nature of such natural ingredients and supplements causes fewer side effects than chemical-based pharmaceutical products. Therefore, the rising awareness among consumers about low side effects will boost the growth of the market during the forecast period.
Key Brahmi Market Trend
Multiple health benefits is one of the key Brahmi market trends that is expected to impact the industry positively in the forecast period. Brahmi is also known by its scientific name Bacopa monnieri. It aids in the relaxation of the mind, the reduction of mental tension, the enhancement of blood flow and memory, and the improvement of brain function. It is also used to reduce hair fall. It is also used extensively in the treatment of Alzheimer's disease, which is a degenerative disease that impairs memory and other mental skills in elderly people. Scientists are increasingly resorting to ayurvedic herbs such as Triphala, Shatavari, and Brahmi to treat ailments related to other mental skills. In the treatment of epilepsy, chickenpox, and pediatric disorders, Brahmi juice plays a critical role in assisting, treating, and speeding up recovery. Such factors will further support the market growth.
Key Brahmi Market Challenge
One of the key challenges to the global Brahmi industry growth is the inadequate knowledge of ayurvedic science in western countries. Over the last three decades, the usage of Brahmi products has increased, with more than 80% of people globally depending on them for basic healthcare. The lack of scientific documentation on Ayurveda in Western nations, such as the US, is limiting the potential growth of the Ayurveda market in the country. In addition, the lack of health insurance approval and constraints for accreditations from regulatory bodies, hospitals, and healthcare providers are expected to hinder the growth of the Brahmi market during the forecast period.
This Brahmi market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global Brahmi market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the Brahmi market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the Brahmi market encompasses successful business strategies deployed by the key vendors. The Brahmi market is concentrated and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The Brahmi market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the Brahmi market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from Asia during the forecast period. India and China are the key markets for Brahmi in Asia. Market growth in this region will be faster than the growth of the market in ROW.
The rising consumer awareness of the side effects of allopathic medicines and growing awareness about the medicinal benefits and therapeutic effects of Brahmi will facilitate the Brahmi market growth in Asia over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In Q1 2020, the outbreak of COVID-19 negatively impacted the business operations of vendors in the Brahmi market. Governments of various countries in the region, such as China, India, and Australia, imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in supply chain disruptions due to the shortage of labor and raw materials. However, since Q2 2020, the demand for Brahmi products in the form of medicinal supplements, personal care products, and food and beverages has rebounded as retail outlets such as grocery stores, convenience stores, hypermarkets, and supermarkets have reopened in the region. Thus, factors such as the increased demand for herbal extract products, intense competition among vendors, and consumer preference for herbal medicines over allopathic medicines will drive the growth of the Brahmi market in Asia during the forecast period.
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The Brahmi market share growth by the online segment will be significant during the forecast period. Brahmi products are not easily available in offline stores in western regions such as Europe and the Americas due to the lack of manufacturing units and unavailability of the Brahmi herb in those areas. Thus, for the ease of access and treatment through ayurvedic means, the online source of distribution is considered convenient to deliver the medicine to a large number of consumers in a specific span of time, which will drive the segment growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the Brahmi market size and actionable market insights on post COVID-19 impact on each segment.
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Brahmi Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.06% |
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Market growth 2022-2026 |
$ 86.51 million |
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Market structure |
Concentrated |
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YoY growth (%) |
6.44 |
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Regional analysis |
Asia, Europe, North America, and Rest of World (ROW) |
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Performing market contribution |
Asia at 39% |
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Key consumer countries |
US, Germany, France, India, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Dabur India Ltd., Hamdard Laboratories, Herbal Creations, Himalaya Global Holdings Ltd., Natures Velvet Lifecare, ORGANIC INDIA Pvt. Ltd., Patanjali Ayurved Ltd., Riaan Wellness Pvt. Ltd., Sabinsa Corp., Shanti Natural Extracts, Shriji Herbal Products, Thangam Extracts, and Vadik Herbs |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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