MBA Aspirants are expected to know markets of established Brands. This helps them to understand industry for which they are dreaming to join in future. Today, you will read on Chyawanprash market in India
Chyawanprash is not just consumed in India but also the rest of the world. It is a brown paste which contains herbs, spices, and other ingredients, prepared according to Ayurvedic traditions.
The market size of chyawanprash is approximately Rs 500 crores. Chyawanprash is not a product that emerged in the market in the 20th century. In fact, its existence can be dated back to Vedic times, 10,000 years ago, when this formulation was prepared for Chyawan Rishi at his ashram on Dhosi Hill near Narnaul. Since it was prepared for Chyawan Rishi, the formulation came to be known as Chyawanprash.
Chyawanprash can be consumed directly or mixed with warm water and milk. The main ingredient in Chyawanprash is amla and it is rich in Vitamin C. There are many health benefits linked to the consumption of Chyawanprash.
Chyawanprash helps to relieve cough and fever, has anti-ageing benefits, improves memory, digestion, and complexion, and gives strength to all sense organs. As a result, many people in India consume Chyawanprash daily to prevent any ailments.
There are many Chyawanprash brands in the Indian market such as Dabur, Emami Group, Himalaya, Bajaj, and Baidyanath; however, the leading brand is Dabur, with a market share of 70 percent. The price of Chyawanprash is approximately Rs 200 per kilogram.
Today, there are a number of variants of Chyawanprash to cater to the differing tastes of individuals. With growing stress among individuals, especially among the urban folks, there is a demand for stress-relief medicines and potions.
To cater to this group of individuals, Dabur has come up with Chyawanshakti, a slight variation of Chyawanprash. Chyawanshakti is a unique mix of herbs to help individuals combat all pressures of life.
Also, there are sugar-free Chyawanprash products for those who are diabetic. To entice children into consuming Chyawanprash, new flavors such as chocolate, orange and mango have been introduced into the market.
Chyawanprash has made its way into every household because it has kept pace with the times and tweaked its marketing campaigns to connect well with the masses, especially the younger generation.
Apart from introducing new and exciting variants of Chyawanprash, organizations have backed their marketing campaigns with well-known stars. To entice the younger generation, Dhoni has been featured in Dabur Chyawanprash advertisements.
In Uttar Pradesh and Bihar, Ravi Kishan has been signed by Dabur for the promotional activities of the company. Emami, on the other hand, signed Shah Rukh Khan as the brand ambassador for its Chyawanprash products.
Today, even though there is an influx of foreign health supplements into the Indian market, Indians are still consuming ayurvedic products such as Chyawanprash because they do not have any side effects.
More and more Indians are becoming health conscious and they are preferring ayurvedic and organic products to those manufactured using chemicals. So, there is a huge market that has been left untapped by the Chyawanprash industry.
As the saying goes, “prevention is better than cure,” it is better to strengthen one’s immune system and stay healthy instead of relying on medicines for cure. And this is exactly what Chyawanprash communicates.