Kapiva, a homegrown D2C Ayurvedic nutrition brand has announced that it is eyeing global expansion, starting with UAE and US.
With this international expansion, the brand has set a target to reach Rs 100 crore global revenue by end of FY 2024-25. This announcement comes at a time when PM Modi is all set to inaugurate the WHO Global Centre for Traditional Medicine (GCTM) in Jamnagar on April 20.
GCTM will be the first and only global outpost center for traditional medicine across the world. It will emerge as an international hub of global wellness. This further showcases the trust of global health bodies in Ayurveda and especially, India’s role in making Ayurveda global.
In fact, in the last few years, the global market witnessed a huge uptick in awareness and adoption of Ayurveda products. As per industry reports, the Ayurveda market is set to grow by $6.81 billion from 2021 to 2026, progressing at a CAGR of 15.32 percent. The immense untapped potential in the international markets is expected to play a massive role in this growth.
Kapiva’s expansion strategy is centered around and driven by market-specific consumer insights and behavior. As per Kapiva’s market research, the US market showed increasing interest in Ayurveda with the popularity of preventative healthcare in the aftermath of the pandemic which the brand aims to leverage. Similarly, with Indians accounting for over 50 percent of expats in Dubai, Kapiva believes that the initial adoption and awareness can be driven at a rapid scale. The company plans to double down on its growth strategy by parallelly driving tech-enabled customized offerings in the near future.
Ameve Sharma, Founder - Kapiva, said “Global audience has time and again expressed their belief on traditional medicine systems. Yoga, as a matter of fact, became India’s greatest cultural export. We are certain that Ayurveda is next in the line with this expansion, as we solve the biggest roadblocks in the way- accessibility and convenience. With our modern and new-age offerings, we aim to introduce modern Ayurveda to every household in UAE and US to improve their daily wellness quotient. With this expansion, we aim to expand our consumer base by half a million consumers.”