Business Issue:-

A Belgium headquartered enterprise is planning to introduce plant-based cures and essential oil products in the Indian market. However, before venturing into a new territory it wants to understand the viability of starting and managing such a business in India.
It needs to learn more about the general consumer perception in India of alternate wellness, plant-based cures, aromatherapy, essential oils, etc. India has a rich history in alternative medicine systems such as Yoga, Ayurveda, etc. However, are Modern-day Indians once again looking forward to adopting the age-old wisdom? Also, how much is the inclination toward aroma therapies & essential oils? All these need to be answered alongside other important parameters such as market size, growth potential, distribution structure, marketing strategy, etc.

The Solution:-

The India Watch has been entrusted with the task of creating a detailed study for the client. Following tasks were undertaken to complete the study

  • A market survey of 200 respondents spread across Delhi NCR, Mumbai, and Bangalore. (Delhi – 90, Mumbai- 60, Bangalore 50)
  • More than 80% of the respondents should come from affluent backgrounds with a household income of over INR 1 lakh/ month.
  • Conduct 10 Face to Face (F2F) interviews with Pharma Distributors, Housewives, Corporate etc. to further augment the research findings.
  • Synthesized results and summary based on the survey.
  • Do a market and industry analysis.
  • Make recommendations based on the study.

Results :-

There is a growing inclination amongst Indian households to use nature-based treatment. People now just don’t want immediate treatment but to cure the root cause of diseases. There has also been a spurt in lifestyle diseases in India in recent years including but not limited to diabetes, hypertension, blood pressure, cholesterol, stress, anxiety, etc. This has further led people to mull alternative treatment therapies, which can complement conventional medicine systems.
Amongst various forms of alternative treatments, there is also a growing thrust toward aromatherapy-based treatments. Just like the Western countries, Indians are piqued by the curative power of essential oils. 49.5% of the respondents understand aromatherapy. The market is seemingly positive for such products. However, one has to carefully invest in product quality and also spend on aggressive visibility, quality packaging, and generous discounts in the beginning.

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