News Desk |
The Global demand for a broad spectrum of health and wellness hacks is growing rapidly, with various types of “alternative medicine” being consumed. In the global East, trust in such remedies largely persists in the form of “Ayurvedic” and “Yunani” treatments. Whether in the form of actress Gwyneth Paltrow’s “alternative wellness” brand “Goop” or traditional German homeopathy, the west is an expanding market for such products.
According to the report, personal care products are in unprecedented demand due to rising incomes, the greater purchasing power of women and an increase in general awareness.
The western markets have a profound and growing fascination with new forms of Eastern medicine which are set to penetrate their markets rapidly as the industry is set to reach a value of $9.8 billion in 2022, up from $3.4 billion in 2015 according to a report by Analytical Research Cognizance. While Indian brands dominate the global market, Pakistani brands like Hamdard can exploit their strategic location to access markets exclusively in Asia and the rest of the world.
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Hamdard is the largest company of its kind in Pakistan, having started out as Hamdard Dawakhana in 1906 and then being established in Pakistan after partition by Hakim Said, a prominent scholar and philanthropist who even served as the Governor of Sindh. It has already achieved several milestones for Pakistan, including their much-loved drink “Rooh Afza”, the first Pakistani export to be advertised at Times square and to raise the Pakistani flag at the auspicious venue.
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Operating as a non-profit, Hamdard provides essential consumer products and philanthropic services across Pakistan. Alongside operating the Hamdard Village School, the organization runs a fleet of mobile dispensaries that provide medical care to patients in far-flung areas. Hamdard is well-positioned to take advantage of this burgeoning demand for Ayurvedic and Yunani medicine due to its reputation and experience.
With products like “Habb-e-Khaas” and “Susi” that promise such potent results, the company can achieve great international success. According to the report, personal care products are in unprecedented demand due to rising incomes, the greater purchasing power of women and an increase in general awareness. Thus, venturing into niches like skincare could be a highly lucrative move for the brand.