THE RISE OF SPIRITUAL RETAIL IN INDIA

India's spiritual retail market is booming, with young consumers driving demand for sustainable idols, Rudraksha malas, puja kits, and spiritual jewelry, while festive gifting fuels a surge in sales.

- BY RICHA FULARA

Once considered a traditional practice of older generations, spirituality has resurfaced in today's modern, tech-savvy world.

India's spiritual retail market is growing fast and becoming more organized. Estimates place the sector between $58-65 billion in 2024, with forecasts suggesting a 7.6 to 10.3 percent CAGR over the next decade. Tapping into this golden opportunity, several players have emerged in the space.

Trends Shaping the Spiritual Retail Market

Several trends are transforming India's spiritual retail landscape. Consumers are increasingly seeking certified products from trusted brands, along with a surge in demand for sustainable offerings.

“Organized players offering lab-verified products are gaining share in the market. Consumers prefer eco-friendly items like clay and seed idols over those made from materials like PoP” shared Anurodh Singhai, Co-Founder, Divine Hindu.

The market is also evolving with a focus on innovation and technology. “Festival and region curation, ready-to-use puja kits, and AI-assisted recommendations are driving engagement,” he added.

Online-First Growth

Online retail remains a dominant channel for spiritual retail players, with e-commerce and quick-commerce platforms leading the charge. “About 80 percent of our retail revenue comes from quick commerce, with the rest from e-commerce,” shared Meena Kapoor, Co-Founder, Astroyogi.