Analysis of the Decisive Factors for Buying Pattern of the Consumers Towards Natural and Ayurvedic (Fast Moving Consumer Goods) Products

The Fast MovningConsumer Goods(FMCG) sector is the fourth largest sector in the Indian economy and its market size in India is estimated to grow from USD 30 Billion in 2011 to USD 103.7 Billion in 2020. The new trend emerging in this sector is consumer-attraction towards natural and ayurvedic products. Domestically, Patanjali is one the new comers in the market and surprisingly has overtaken many companies who used to be the biggies of the market like HUL, ITC, Dabur etc. The company declared its annual turnover of the year 2016-17 to be estimated at USD 1.6 billion. They have a production capacity of USD 5.5 billion and are in the process of expanding to a capacity of USD 9.4 billion. The emergence of Patanjali in the Indian FMCG market intrigued the authors to study further about consumer behavior towards natural and ayurvedic FMCG products. The main aim of the proposed research is to identify the decisive factors for the buying pattern of the consumers towards natural and ayurvedic FMCG products