The India nutraceuticals market stood at USD 5404.18 million in 2022 and is expected to grow at a CAGR of 11.77% during the forecast period. Due to the ongoing pandemic, this industry has recently seen growth. The emphasis on preventive healthcare has helped this industry flourish. India’s population has started to believe in immunity-boosting supplements, which has significantly changed consumers’ purchasing habits and market behavior. Examples of the flexible shopping habits of consumers of healthcare products include vitamin capsules, chewable tablets, and gummies. During the pandemic, doctors frequently administered vitamin and zinc supplements, creating a growth path for the Indian nutraceuticals market. Furthermore, during the pandemic, preventive healthcare has emerged as a crucial line of defense, demonstrating the nutraceuticals industry’s value as a reliable source of income for the populace. The second wave has also observed that the market presence of the nutraceutical industry has grown and will do so going forward.
Increasing Consumers awareness
Consumers are increasingly aware of the compounds in drugs that have undesirable side effects. Another reason why nutraceuticals are dominating the market is that people are becoming more conscious of the value of proper nutrition and how much better it is to handle situations by providing the body with the appropriate nourishment. Typically made of plants, nutritional supplements are vegetarian. Artificial colors, flavors, gluten, and preservatives are prohibited in high-grade nutraceutical goods.
Changing lifestyles and rising health consciousness
Concerns about body image are no longer only a Western idea because they also impact Indian men and women equally. Millennials and Gen Z in India are becoming increasingly conscious of their weight, eating habits, and physical attractiveness. A customer base like this is increasingly turning to nutraceuticals to shed pounds, improve hair growth, or achieve glowing skin. Additionally, nutraceutical goods give a whole combination of the vitamins, minerals, and amino acids required for hair growth, providing better results than taking several pills separately.
AI technology’s involvement
The nutraceutical industry in India has been significantly transformed by artificial intelligence (AI). It has been essential in determining the components needed to treat specific health conditions, allowing makers of nutraceutical goods to tailor their products to the unique needs of each patient using a subscription-based business model.
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. Based on form, the market is divided into Liquid, Tablets, Capsules, Powder, and Others. Based on Source, the market is divided into Plant, Animal and Microbial. Based on Distribution Channel the market is segmented into Online, Hypermarkets/Supermarkets, Pharmacies and Specialty Stores.
Amway India Enterprises Private Limited, Pfizer India Limited, Merck Limited, Bayer India Limited, Abbott India Limited, GlaxoSmithKline Pharmaceuticals Limited, Wockhardt Limited, Himalaya Wellness Company, Baidyanath Group, Herbalife Nutrition Limited, among others are some of the leading companies operating in the market.
In this report, India Nutraceuticals Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• India Nutraceuticals Market, By Application:
• India Nutraceuticals Market, By Form:
• India Nutraceuticals Market, By Source:
• India Nutraceuticals Market, By Distribution Channel:
Company Profiles: Detailed analysis of the major companies present in India Nutraceuticals Market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).