Amway is leading dietary supplements market in India.
By distribution channel, mass merchandisers dominated the India nutraceuticals market in year 2016
Health segment dominated the functional food and beverages market segment in India.
Omega 3 Fatty Acids are expected to drive the dietary supplements market in India
India is a nascent market for nutraceuticals. Both MNCs and domestic companies in pharmaceutical and food and beverages business are continuously involved in launching their new products in the market owing to the diverse demand among huge customer base available in the country. In case of plant extracts and phytochemicals, Indian companies have entrenched as suppliers both locally and globally. India has been an exporter in nutraceuticals market but with an increase in awareness, product availability and supply chain infrastructure, the nutraceuticals industry is booming in domestic market presently. For instance, Vitalic Nutrition launched nutraceuticals and dietary supplements under the brand name “Truuth” in 2016 in India. The company has launched this brand in collaboration with Athena Pharmaceuticals. Similarly, the leading company of Sri Lanka, Plant Herb Lifesciences launched its products and Big Brother Nutra Care Pvt. Ltd. launched ‘FreeLady–REGANE’ First Ever Nutraceutical Product for Menopausal Women in India in May, 2017.
All these companies and many others launched these products in India looking at huge customer base and increasing demand and are in plans to invest huge amounts on marketing and promotion. Vitalic nutrition announced that company is in plans to invest INR 100 crores (USD 15.4 million) on promotion of Truth brand in India. The trend is expected to increase the usage of nutraceuticals in India, hence driving the market.
Ken Research in its latest study, India Nutraceuticals Market Outlook to 2021 suggested vitamins and minerals in dietary supplements segment will continue to dominate the market during the forecast period. Deficiency of vitamin D will act as driving factor with approximately 65% of the population being deficient of vitamin D.
India nutraceuticals market is likely to showcase growth at a rapid rate during the forecast period. Rising awareness about nutraceuticals, presence of undernourished population and elevating prevalence of obesity and diabetes are the factors which are expected to foster future growth.
The report provided information on market size for India nutraceuticals market, India nutraceuticals market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, regulatory landscape, import and export scenario, trends and developments and competitive landscape.
Key Topics Covered in the Report:
Protein and Amino Acid Supplements Sales in India
Dietary Supplements Market Trends
India Nutritional Supplements Market
India Nutritional Supplements Industry
Anti Oxidants Food Category Growth
Licorice Medicine Sales in India
Trends in Dietary Supplements Market India
Nutritional Supplements Market Competition
India Vitamin Supplement Market
Probiotics Market in India
India Nutraceutical Market
India Functional Food Industry
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Ankur Gupta, Head Marketing & Communications