India Nutraceuticals Market Size & Growth Rate
The India Nutraceuticals Market is projected to grow at a CAGR of 29.5% during 2021–2027, driven by increasing health awareness, the rise in fitness culture, a growing urban population, and the expansion of e-commerce.
India Nutraceuticals Market report thoroughly covers the market by types, distribution channels and by regions. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Nutraceutical Market Synopsis
India nutraceuticals market witnessed considerable growth in recent years on account of the growing focus on preventive healthcare in India underpinned by increasing disposable income, a rise in urban population and a rising e-commerce sector.
The Nutraceuticals market was positively impacted by COVID-19 as the spread of covid-19 in 2020 boosted the nutraceuticals market of India owing to the increased health awareness amongst people to curb the spread of the virus and once the e-commerce platform started operating in the lockdown period, the sales of nutraceuticals started to rise further as people being at home had ample amount of time for a workout at home and an increasing number of workout videos led to a trend of home workout in the country resulting in an increased demand for supplements.
According to 6Wresearch, the India Nutraceuticals Market size is projected to grow at a CAGR of 29.5% during 2021-2027. With the rising fitness industry owing to an increase in health awareness among people and covid-19, demand for supplements, healthy foods & beverages is increasing and will see a huge jump in coming years as people are focusing more on improving their immunity. Growing focus on preventive healthcare and increasing disposable income also contributed to India nutraceutical market growth trajectory. Offers and discounts provided by e-commerce platforms attract people to buy a variety of products from these platforms (especially the young generation) including nutraceuticals.
Market by Types Analysis
In terms of types, dietary supplement and functional food segments cumulatively have captured 86% of the market revenues in 2020, with dietary supplements leading the market. The dietary supplement segment generated the majority of the market revenues owing to the rise in lifestyle diseases and the convenience it provides in covering nutritional gaps as compared to other types of nutraceuticals. Further, expected rise in geriatric population of India and increasing healthcare costs would further increase the demand for dietary supplements in India in the forthcoming years.
Market by Types Analysis
In terms of types, dietary supplement and functional food segments cumulatively have captured 86% of the market revenues in 2020, with dietary supplements leading the market. The dietary supplement segment generated the majority of the market revenues owing to the rise in lifestyle diseases and the convenience it provides in covering nutritional gaps as compared to other types of nutraceuticals. Further, the expected rise in the geriatric population of India and increasing healthcare costs would further increase the demand for dietary supplements in India in the forthcoming years.
Nutraceuticals Market Size in India
The India Nutraceuticals Market is progressing tremendously and it will attain more growth in the future. The Nutraceuticals Market Size in India is likely to boost at a XXX during the forecast period. The sector is becoming a prominent sector owing to the rising concern on preventive healthcare in the country underpinned by the rising disposable income, growth in urban population as well as rise in the e-commerce market. This sector has come out as a crucial part of the Asia Pacific Nutraceuticals Market.
The sector is highly competitive and many players have been operating in the market. Indian Nutraceutical Companies include Herbalife International India Pvt. Ltd., Dabur India Ltd., Kellogg India Pvt. Ltd., Nestle India Ltd., Patanjali Ayurved Ltd., as well as Amway India Enterprises Pvt. Limited. The Nutraceutical Market Growth in India is aiding the market players to progress even better.
The future of nutraceuticals in India is very bright as Nutraceutical Industry in India is continuously making progressing by propelling well as a number of drivers are driving the market and key players are also supporting it in each possible way.
Market by Distribution Channels Analysis
In India Nutraceuticals Market, the offline distribution channel has led overall market revenues accounting for more than 50% of the market revenues in 2020. Offline distribution channels captured a key share of the market on account of quick buying time and trust in offline stores. Another factor for offline channel preference is the benefit of the consultations with chemists which helps in choosing the best-suited nutraceutical product for consumers.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
Key Highlights of the Report:
- India Nutraceuticals Market Overview
- India Nutraceuticals Market Outlook
- India Nutraceuticals Market Forecast
- Historical Data and Forecast of India Nutraceuticals Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of India Nutraceuticals Market Revenues, By Types, for the Period 2017-2027F
- Historical Data and Forecast of India Nutraceuticals Market Revenues, By Distribution Channels, for the Period 2017-2027F
- Historical Data and Forecast of India Nutraceuticals Market Revenues, By Regions, for the Period 2017-2027F
- Market Drivers
- Market Restraints
- India Nutraceuticals Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- India Nutraceuticals Market Share of top players
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments
By Types:
- Dietary Supplement
- Functional Food
- Functional Beverage
By Distribution Channels:
- Offline
- Online
By Regions:
- Eastern
- Western
- Northern
- Southern
