India’s ₹15,000 Crore Puja Economy Is Hiding in Plain Sight

Step into any Indian home at sunrise, and you will likely find a diya glowing quietly in the corner, the air filled with the fragrance of incense, and the soft crackle of camphor burning.

This scene plays out across millions of households every single day.

It is not niche. It is routine.

And yet, the market behind it remains surprisingly underdeveloped.

A Giant Market, Largely Untapped

India’s puja economy is worth over ₹15,000 crore annually, making it larger than the country’s OTT subscription market. Families across the country regularly buy agarbattis, cotton wicks, camphor, ghee, diya oils, idols, and havan kits.

Despite touching nearly 80 percent of Indian homes, these products are often sold in basic plastic packets, with little focus on packaging, quality, or consistency.

The demand is clearly there. It is the supply side that has failed to evolve.

Agarbattis: A Category Ready for Reinvention

Incense sticks alone account for ₹7,500 crore in annual sales, growing at over 8 percent year-on-year. India exported more than ₹1,100 crore worth of agarbattis in FY23, mainly to the US, UAE, and Europe.

Established players like Cycle Pure, Mangaldeep, and Zed Black dominate traditional retail, but their direct-to-consumer presence remains limited. This is a missed opportunity.

The Other Ritual Staples

The market for diya oil, ghee, camphor, and cotton wicks is valued at more than ₹4,000 crore. These products see seasonal spikes during festivals like Diwali, Navratri, and Shravan.

However, many consumers still struggle with adulterated ingredients, inconsistent pricing, and unclear branding. Trust is missing. And that trust gap is an opening for new brands to step in.

Startups Are Reimagining Rituals

A new generation of brands is beginning to reshape the puja category. Startups like MyPoojaBox, DailyPuja, Dharohar, and Aarav Rakhis are creating curated kits for festive and life events, from baby showers to housewarmings and Ganesh Chaturthi celebrations.

Some of these businesses are clocking over ₹1 crore a month in revenue, with healthy gross margins and strong repeat purchase behavior.

Phool.co: Ritual with Purpose

One of the most inspiring stories is that of Phool.co, now HelpUsGreen. They collect floral waste from temples and upcycle it into high-quality, charcoal-free incense sticks and havan cups. Their products are stocked in over 2,000 stores across India and are exported to countries like the US and Germany.

They have also raised more than ₹75 crore in funding and are building what may become India’s first large-scale, ESG-aligned ritual brand.

What Rituals Truly Need

Ritual doesn’t need to be disrupted. It needs to be respected. It needs thoughtful packaging. Transparent pricing. Reliable delivery. Because belief is not a one-time action. It is a daily ritual. And daily rituals lead to repeat purchases.