New Delhi, Aug 17: Patanjali Ayurved’s growth faltered during the past 12 months as rivals, mostly multinationals, launched natural and herbal products to counter the challenge of the Baba Ramdev-led enterprise.
Patanjali’s sales volumes grew 7% during October-March 2018 and 22% in April-September 2017, according to data from Kantar Worldpanel, a global consumer research firm. That’s a sharp fall from 52% growth in October-March 2017 and 49% during April-September 2016. Last week, Credit Suisse said Patanjali’s FY18 sales growth by value was little changed after a 100% compounded annual growth rate (CAGR) over the past four years. The Swiss financial services company didn’t disclose Patanjali’s actual sales or growth numbers. The company said it has been able to make its presence felt in the market and become a household name in a few years, apart from popularising herbal products, and is preparing for the next stage of growth.
“Patanjali has been the biggest disruptor in FMCG space. As the brand is established and consistently growing, in terms of both shares and retail shelves, our growth is realistic and in sync with other FMCG companies,” said SK Tijarawala, spokesperson at the Haridwar-based company. “Patanjali built its consumer-facing ayurveda business almost from scratch in a few years and gained market share and shelf space rapidly, challenging established multinational brands in all categories it has forayed in.”