Report Overview

Increasing prevalence of metabolic disorders, growing geriatric population, product innovations, and the availability of integrated functional and medical food products are expected to boost the growth of India Nutraceuticals Market during the forecast period between 2023 and 2029.

India Nutraceuticals Market - Industry Trends & Forecast Report, 2029

India nutraceuticals market size is expected to expand at a CAGR of 29.1% during the forecast period between 2023 and 2029. Demand for nutraceuticals could increase as consumers' dietary habits change more frequently. The consumer perception that a poor diet raises the price of pharmaceuticals is expected to increase demand for nutraceuticals. There would be less money spent on healthcare and social security, which would benefit the government. In the coming years, rise in disposable income and health concerns, and rapid urbanization could propel the market growth. Weight management programs and increasing patient population with cardiovascular diseases, along with a positive outlook on medical nutrition, are expected to drive product demand.

India Nutraceuticals Market - Overview

Nutraceutical is a broad term that refers to any product derived from food that provides additional health benefits in addition to the basic nutritional value found in foods. nutraceuticals are non-specific biological remedies used to improve overall health, control symptoms, and prevent cancer. The origin is generally used to explain nutraceuticals and related output. nutraceuticals can be classified according to their natural origin, pharmacological circumstances, and chemical structure. nutraceuticals are commonly classified as functional foods, dietary supplements, pharmaceuticals, and medicinal foods.

Growth Drivers

Increasing Demand for Functional & Healthy Foods

Functional foods are gaining popularity among consumers due to their perceived wellness, performance, and health benefits. The demand for functional end products like dairy, bakery, confectionery, snacks, cereals, fats and oils, meat, and baby food is increasing as a result of how simple it is to incorporate nutraceutical ingredients into them. Protein, fiber, vitamins, and minerals are common fortifications. High-protein foods are currently the real winners, as they gained popularity among fitness enthusiasts. Compared to the baby boomer generation, people today are even more concerned about their health.

Restraints

Stringent Regulations

Industry faces significant obstacles because of the complex policies and strict regulatory framework that apply to the commercialization of nutraceutical products. A stringent set of rules has been established to make sure that only secure and superior nutraceuticals are introduced to the market. It requires manufacturers of nutraceutical products to offer sufficient supporting data for the products' health claims. Different countries have different regulatory frameworks. It is expected that a new range of high-quality nutraceutical products will be introduced as a result of the growing emphasis on product quality and the adoption of food safety guidelines.

Impact of COVID-19 on India Nutraceuticals Market

The supply chains for nutraceuticals are finding it difficult to keep up with the COVID-19 virus's quick spread. Asia is where the majority of businesses have their production facilities. The COVID-19 pandemic's impact on the supply chain has resulted in a decline in the supply of nutraceuticals. Novel coronavirus pandemic's disruptive effects have greatly strained India's supply of nutraceutical goods, raising the possibility of shortages. Pharmaceutical and nutraceutical manufacturers, who heavily source directly and indirectly from China, are exposed to high risks of supply shortages even though production across many industries in India has gradually resumed. As the focus shifted to the consumption of supplements, such as multivitamins, omega-3 fatty acids, and protein supplements for maintaining stronger immunity, the COVID-19 pandemic has also presented growth opportunities for the producers of nutraceuticals.

India Nutraceuticals Market

Segmental Coverage

India Nutraceuticals Market - By Type

India nutraceuticals market by type is divided into Dietary Supplements (Vitamin, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, and others); Functional Beverages (Energy Drinks, Sports Drinks, Functional Juices, and others); Functional Food (Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins, and others), and Personal Care). During the forecast period, the dietary supplements segment is expected to dominate the market owing to advancements in technology and product development. Sports drinks are becoming more and more popular among athletes and other people who engage in strenuous physical activity. Due to its high purchasing power, willingness to spend money on health products, intense interest in sports, and increasing propensity toward fitness activities, the millennial generation exponentially drives the sports drink market. Prebiotics and probiotics segment in the functional food market is predicted to grow at the highest rate, between 2023 and 2029. This is explained by the increase in diet food demand and the shift in consumer preference toward weight loss programs. Due to their promising effects in boosting the immune system and serving as important preventive health supplements during the COVID-19 pandemic, the prebiotics and probiotics market is expected to expand.

India Nutraceuticals Market - By Form

On basis of form, India nutraceuticals market is divided into Capsules, Liquid & Gummies, Tablets & Soft Gels, Powder, and other segments. The capsule segment dominates the market share. Capsules and tablets are convenient and easy to incorporate into one's daily diet. They have a layer of film or sugar that helps to encapsulate the formulations' unpleasant odor and taste. The numerous advantages associated with capsules and tablets are expected to drive segment growth.

India Nutraceuticals Market - By Sales Channel

On basis of sales channel, India nutraceuticals market is divided into Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, Online Retail Stores, and other segments. The online retail stores segment holds the highest market share. The segment's growth will be aided by advantages like the availability of a wide range of products, convenience, flexibility, discounts, and affordability. The industry size from the E-commerce distribution channel will be further pushed by the growing demand for a quicker and simpler shopping experience.

Competitive Landscape

India nutraceuticals market is fiercely competitive. Prominent players in the market include United Labs, Biofield Pharma, Biosync Pharma, Swisschem Healthcare, Lifecare Neuro, Associated biotech, Nutriberry nutraceuticals, Servocare Lifesciences, Sunwin Healthcare PVT LTD, and Nivoxaa Biotech India Pvt. Ltd. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Type

• Dietary Supplements

1. Vitamin

2. Botanicals

3. Minerals

4. Proteins & Amino Acids

5. Fibers & Specialty Carbohydrates

6. Omega Fatty Acids

7. Others

• Functional Beverages

1. Energy Drinks

2. Sports Drinks

3. Functional Juices

4. Others

• Functional Food

1. Carotenoids

2. Dietary Fibers

3. Fatty Acids

4. Minerals

5. Prebiotics & Probiotics

6. Vitamins

7. Others

• Personal Care

By Form

• Capsules

• Liquid & Gummies

• Tablets & Soft Gels

• Powder

• Others

By Sales Channel

• Specialty Stores

• Supermarkets/Hypermarkets

• Convenience Stores

• Drug Stores/Pharmacies

• Online Retail Stores

• Other