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              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

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              Do you know who Owns Corporations?

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                      Why Ayurvedic products are back in demand

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in GENERAL, Health & Wellness
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                      Ayurvedic products

                      Globally, Ayurveda-based products saw surges in demand in the wake of the Covid-19 pandemic even as scientists’ world over are sprinting against time to bring out the standard treatment modality. In terms of time almost a year has passed to find the vaccine to curb the increase curve of the unprecedented COVID-19 pandemic. The situation has been acclaimed globally that strengthening the immune system will work wonders in combating the pandemic. Allopathic companies are trying to find out an all-time well tested mantra to stay safe and healthy. Having recognised the significance of the holistic approach of Ayurveda, the Union Health Minister Harsh Vardhan has supported the role of Ayurvedic remedies and Ayurvedic poin the prevention and treatment of the coronavirus disease especially for its immunity-boosting properties.

                      Ayurveda is one of the ancient traditions to heal different health problems in our country India. Indian Ayurveda industry has become one of the fastest-growing industries with numerous ranges of products. Despite being the modern medical system, Allopathy has been incapable to find an enduring solution for few of the diseases like Jaundice, Piles, and Biliousness etc. These ailments can be effectively managed by Ayurveda. Though Ayurveda acts slowly but works effectively and cures the disease from its root.

                      Ashwagandha, Brahmi, Cumin, Turmeric, Licorice root, Gotu kola, Bitter melon, Pepper, Giloy etc are making entry into households like never before. Indians are continuing to put a united front against the battle with the novel coronavirus; people are going back the herbal way to boost their immune systems. Giloy is winning hearts of millions in the struggle against the Virus. Giloy has been hailed for its medicinal properties and a host of health benefits. The scientific name of this age-old miraculous herb is Tinospora Cordifolia and it is also known as ‘Amrita’ in Sanskrit, which literally translates to ‘the root of immortality’.

                      Charak Samhita is Ayurvedic’s conclusive treatise and the most referred text by students, scholars, teachers, physicians and researchers. It has the unique distinction of being the only text available worldwide on the most restorative science. It emphasizes on the promotion of health and prevention of disease as the actual solution for controlling diseases, which is especially relevant in modern times. Further, it also seriously dwells upon the concept of healthy aging and longevity, as described in Swastha Chatushka and Rasayana chapters.

                      Ayurveda and natural segment products are increasingly being preferred by consumers across the globe and especially in India. One of the prime reasons for this is that Ayurveda and any other medicine which is not allopath are considered ‘safe’ by a large number of people.

                      A survey by market research firm Nielsen found that the natural segment accounts for 41 per cent of the total of ₹ 44,790 crore personal care market share. Many MNCs, which were the leaders in the toothpaste category, lost their shine when home-grown Ayurveda companies found flavour with consumers forcing some companies to come out with herbal variants. Herbal brands and variants from Dabur, Colgate and Patanjali gained nearly 350 basis points in market share in a year in the ₹7,000 crore Indian oral care segments according to Economic Times. Among the natural segment category, toothpaste is growing at 20.1 per cent, followed by hand and body at 17.5 per cent and shampoo with 13.2 per cent and the sanitizer sale has shot up beyond our imagination.

                      Is Ayurveda safe? To cite an instance, Advertising Council of India (ASCI) pulled up a number of brands for making misleading or false claims in their ads or not adequately substantiating these claims which were found to be in violation of its code. Among these were new age alternative medicine companies which made false claims. The US$53 billion fast-moving consumer goods (FMCG) sector in India is moving towards the wider adopting Ayurvedic products. HUL’s Ayush is the only brand which is spread across categories from toothpaste, soaps, face wash, and face cream, shampoo and hand wash.  Dabur is the world’s largest Ayurvedic and Natural Health Care Company with a portfolio of over 250 Herbal and Ayurvedic products. Dabur also recommends various Ayurvedic Home Remedies, Besides Vicco Vajrdanti toothpaste, Colgate has entered with their Ayurvedic toothpaste, and it is piggybacking on Ayurveda in other segment of products too.

                      Over the years the climate is changing, quality of soil is changing due to over use of fertilizers, due to altered method of collection, commercial growing, residue of chemical fertilizers and pesticides in soil and water the standard of Ayrvedic products too are deteriorating in terms of purity. Ayurvedic drugs falls under two types: classical and proprietary formulations. Those ayurvedic formulations manufactured as described in the classical texts Ayurvedic Samhita, are classical drugs, and while proprietary are those made using plant extracts. The Ministry of AYUSH has amended Rule 170 regarding issuance of guidelines for evaluation of Ayurvedic, Siddha & Unani Drugs (ASU) and other traditional medicines of India. The Ministry website asserts that various kinds of ASU products licensed in the country are being sold claiming to be safe. These ASU plants based medicines/product are also marketed in different doses from like extracts etc.

                      The top FMCG Emami acquired Kesh King, a top selling brand of ayurvedic hair oil in North India. On the other HUL acquired Kerala based Indulekha hair oil for 330 crores.  Marico acquired Nihar Shanti Amla hair oil. It had acquired private equity-controlled Paras Pharmaceuticals for ₹ 3,260 crore in 2016.

                      The global Ayurveda market is predicted to grow at a healthy CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report. Ayurveda or Ayurvedic medicine is amid the oldest holistic healing systems. The goal of Ayurveda is in promoting good health and not fighting diseases.

                      Ayurveda is here to stay and has golden days ahead.

                      Tags: AshwagandhaAyurvedaBitter melonBrahmiCharak SamhitaCuminDr. Vidya HattangadiFMCGGiloyGotu kolaLicorice rootPepperTurmericUnion Health Minister Harsh Vardhan
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                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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