High rate of lifestyle-related diseases and growing awareness is driving the India Nutraceuticals Market in the forecast period, 2023-2027.
According to TechSci Research report, “India Nutraceuticals Market – By Region, Competition Forecast and Opportunities, 2017-2027”, the India Nutraceuticals Market stood at USD 5,408.18 million in 2022 and is expected to grow at a CAGR of 11.77% during the forecast period. India’s nutraceuticals market is continuously expanding rapidly, fusing the disruptive potential of scientific advancements with the rising public desire for clean foods that improve general health and add value to the overall well-being of consumers. Products like plant-based vitamins and minerals, which are proven to strengthen one’s natural ability to fight viruses and diseases, are in high demand among consumers. Parents are constantly worried about their child’s diet and if they are receiving the proper nutrition at their stage of development. However, most children are unwilling to eat veggies or nutritious foods. Parents must therefore turn to nutraceutical foods and drinks. To reach these customers, brands introduce new flavors, ingredients, and nutritional enhancements. The expansion of this category is anticipated to be driven by fortified juices, energy drinks, and increased beverage absorption. Furthermore, stretched resources, a hectic schedule, and a lack of time to prepare meals at home have caused an increase in the demand for external dietary supplements in working-class men and women. The purpose of nutritional supplements is to supply nutrients that would not otherwise be taken in sufficient quantities. Moreover, due to the many advantages they provide, plant-based nutraceuticals are becoming more and more popular. Clean and plant-based supplements are safe for daily and long-term use because they are entirely natural and free of dangerous ingredients. Because plant-based nutraceuticals are free of all additives, preservatives, and artificial agents, consumers are more likely to accept them. Besides that, lookalike, fraudulent items pose a danger to the Indian nutraceutical business, confusing consumers and undermining their faith in natural products. Despite the increase in need for nutraceuticals, their availability in the Indian market is constrained by their high cost. Import tariffs must also be considered while evaluating product price for the India market. These factors will pose a threat to India Nutraceuticals Market.
Browse over 25 market data Figures spread through 70 Pages and an in-depth TOC on “India Nutraceuticals Market “
The India Nutraceuticals market is segmented by Application, Form, Source, Distribution Channel, Region, and Company.
Based on Application, the market is divided into Functional Beverages, Functional Food and Dietary Supplements. Functional beverages dominate the market because of their widespread applications in various industries, with a share of 46.02% in 2022. Dietary supplements show a substantial rise with a CAGR of 10.87%. Over the previous two decades, nutritional supplements have become increasingly popular worldwide, including in India. The use of protein or other dietary supplements is a topic that primarily youthful generations are much more concerned about regarding competitive sports, muscular building, and correct body toning. Based on form, the market is divided into Liquid, Tablets, Capsules, Powder, and Others. Liquid dominates the market with an overall share of 32.74% in 2022. The liquid form of supplement ingestion is the most practical. It is perfect for those who have trouble swallowing soft gels or tablets. This type of supplement has a quick absorption rate among its many advantages. A liquid will assimilate faster in the stomach than a solid pill. Before reaching the stomach, liquid vitamins can begin to move through the body. Based on Source, the market is divided into Plant, Animal and Microbial. Plant-based nutraceuticals and functional foods have received much attention because of their purported safety and potential for nutritional and medicinal advantages. Examples of popular phytonutraceuticalsin high demand across the country include glucosamine from ginseng, Omega-3 fatty acids from linseed, epigallocatechin gallate from green tea, lycopene from tomatoes, etc. Based on Distribution Channel the market is segmented into Online, Hypermarkets/Supermarkets, Pharmacies and Specialty Stores. The expansion of e-commerce will make it easier to sell nutraceutical goods. Manufacturers are attracted to e-commerce because it places a strong emphasis on establishing uniqueness on a global scale. The COVID-19 pandemic has caused consumers to quickly switch from traditional brick and mortar stores to internet retailers. In addition, e-commerce gives customers a simpler platform to contrast products and prices. If market participants concentrate on creating an online presence, they will be able to navigate through unforeseen supply chain disruptions in the future.
Major companies operating in India Nutraceuticals market are:
- Amway India Enterprises Private Limited
- Pfizer India Limited
- Merck Limited
- Bayer India Limited
- Abbott India Limited
- GlaxoSmithKline Pharmaceuticals Limited
- Wockhardt Limited
- Dabur Limited
- Himalaya Wellness Company
- Baidyanath Group
- Herbalife Nutrition Limited
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“The India nutraceuticals market is expected to witness steady growth in the coming years due to rising disposable income and awareness of lifestyle diseases, which is encouraging the Indian populace to take more proactive measures for protection and prevention. Additionally, a trend that is accelerating in India is decreasing food quality, opening new business opportunities. Also, social media is raising the level of health consciousness among patients. To enhance health, people and health professionals are adjusting their treatment protocols. These factors will create lucrative opportunities for market growth during the forecast period, “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm “
“India Nutraceuticals Market, By Application (Functional Beverages, Functional Food and Dietary Supplements), By Form (Liquid, Tablets, Capsules, Powder, and Others), By Source (Plant, Animal and Microbial), By Distribution Channel (Online, Hypermarkets/Supermarkets, Pharmacies, Specialty Stores, By Region, Competition Forecast & Opportunities, 2028’’, has evaluated the future growth potential of India Nutraceuticals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Nutraceuticals Market.
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