Most Indians are at least somewhat familiar with common household natural medicines. Have the flu? Drink ginger and honey-flavoured hot tea. Possess acne? Put curd and chickpea flour. Want to improve your immunity? Have turmeric and tulsi. Such homemade cures have been used by Indians to heal themselves for thousands of years. Therefore, it is not surprising that the country’s nutraceuticals business has thrived. The nutraceutical industry in India is a rapidly growing sector, driven by increasing awareness of the importance of nutrition and the health benefits of various dietary supplements. The market is expected to continue expanding in the coming years due to factors such as a growing middle class, rising health consciousness, and an aging population.
Nutraceuticals, which for us in India are most of the foods in our kitchens, are any food products that have health or medicinal benefits. However, occasionally drinking ginger honey tea alone is insufficient to increase immunity. Something a little more powerful is required. Over-the-counter nutraceuticals can be used in this situation. They provide the same advantages as vitamins or herbs, but in a concentrated and targeted manner. And neither is it a fresh fad. Since the 1880s, businesses like Dabur and Himalaya have sold goods containing neem, chandan, amla, and tulsi. But after Patanjali’s debut in 2006, these goods became much more well-known. Ramdev Baba, you see, was so closely associated with health in the minds of so many people that his brand took off immediately. Even Ramdev Baba, meanwhile, was unable to elevate nutraceuticals to the same level as pandemic. The new slogan was to take preventative medications and immunity-boosting supplements. In addition, our current fast-paced lifestyle often prevents us from getting the essential nourishment. By the end of the day, most people are so exhausted that they frequently eat fast food or place an order. All of these issues were quickly and easily resolved by nutritional supplements. Here is a look at how the pandemic has benefited the nutraceutical business.
In the following ten years, the Indian nutraceutical market is anticipated to increase in value to $25 billion. And this expansion is not just happening in India. Nutraceuticals are becoming more widely used. By 2024, the global market for nutraceuticals is projected to reach $755 billion, up from $382 billion in 2019.
In recent years, the Indian government has taken steps to regulate the nutraceutical industry and ensure the safety and quality of products sold in the country. The Food Safety and Standards Authority of India (FSSAI) is responsible for regulating the manufacture, storage, distribution, sale, and import of food products, including nutraceuticals.
The nutraceutical industry in India is diverse and includes a wide range of products such as vitamins, minerals, probiotics, amino acids, herbal supplements, and functional foods. The market is dominated by domestic players, but there is also significant foreign investment in the sector.
One of the key challenges facing the nutraceutical industry in India is the lack of awareness and understanding about the benefits and proper use of nutraceuticals among consumers. To address this issue, the industry has begun investing in education and marketing efforts to raise awareness and promote the responsible use of nutraceutical products.
Overall, the nutraceutical industry in India has a bright future, with strong potential for growth and innovation. As more and more people become aware of the importance of nutrition and the role that dietary supplements can play in maintaining good health, demand for nutraceutical products is likely to continue to rise.
