India Nutraceuticals Market Size, Share & Trends Analysis Report By Product (Dietary Supplements, Functional Foods, Functional Beverages), By Ingredient, By Application, And Segment Forecasts, 2024 - 2030

India Nutraceuticals Market Size & Trends

The India nutraceuticals market size was estimated at USD 26.87 billion in 2023 and is projected to grow at a CAGR of 13.5% from 2024 to 2030. The market growth is attributed to rising consumer focus on health-promoting diets, increasing instances of lifestyle-related disorders, andpreventive healthcare. The increasing trend among consumers to alter dietary habits is expected to boost the demand for nutraceuticals. The consumer belief that an improper diet results in increasing pharmaceutical spending is anticipated to boost the demand for nutraceuticals, which, in turn, is projected to help the governments in terms of low expenditure on healthcare as well as social security costs.

The India nutraceuticals market held 9.22% of the global nutraceuticals market revenue in 2023. The growing concerns among the aging population about heart health and obesity are expected to increase the demand for nutraceuticals among this population. The aging population is receptive toward personalized nutrition, which gives ample growth opportunities to nutraceutical manufacturers, which has also resulted in educational programs targeted at this demographic. Education and clear message to the target population about various health concerns is expected to result in high awareness among the consumers that would result in high product demand.

Nutraceutical manufacturers invest in R&D activities for various reasons such as exploration and interest in new ingredients, regulatory requirements, intellectual property purposes, and differentiating products to gain a competitive advantage. The patents and their protection form an important part of the revenue strategy of nutraceutical manufacturers, leading to a large expenditure on patenting compounds and processes that manufacturers believe can generate revenues in the future.

The nutraceutical market is anticipated to witness considerable growth over the next years owing to their increasing consumption for the prevention of diseases and growing health consciousness among the population. The increased usage of internet has resulted in the consumer being more knowledgeable about chronic diseases and the preventive methods that include the consumption of nutraceuticals. Recently, consumers have turned their attention towards nutraceuticals manufactured from natural ingredients or by the usage of natural methods.

Rise in technological advancements and growing number of innovations influenced the adoption of AI , which will enable more personalized solutions based on dietary and health data of a consumer. Therefore, AI is expected to play an important role in the growth of nutraceuticals.

Market Concentration & Characteristics

The India Nutraceuticals market is characterized high degree of innovation owing rapid technological advancements and evolving consumer preferences. Furthermore, market players are actively developing novel formulations, including beverages, fortified foods, dietary supplements, leveraging scientific research to create products that cater to specific health and wellness needs.In addition, advancements in delivery systems, such as controlled-release technologies andnano-encapsulation, are enhancing the bioavailability and efficacy of nutraceutical ingredients.

The industry is also characterized by a sustainable level of merger and acquisition (M&A) activity by the leading players. The key players are seeking to expand their portfolio, gain access to latest geographic market, and improve research and development capabilities. The market is characterized by the presence of both the established and local players. These participants have led to the formation of clusters based on nutrition, dosages, and health conditions. The changing consumer trends and lifestyles along with the industry’s efforts to develop products that suit these lifestyles have led to product cluttering in the nutraceuticals market.

Regulations in this industry are overseeing product safety, quality, and labeling to ensure consumer protection and confidence. Several government guidelines to provide efficacy, safety, and manufacturing standards of nutraceutical products. Labeling requirements concerning ingredient transparency, and dosage recommendations influence consumer perceptions and purchasing decisions.

End-user concentration is a significant factor in the India nutraceuticals market. Growing health concerns among consumers and increasing awareness about nutraceuticals are expected to drive nutraceutical market. Increasing aging population, rising spending on healthcare products, and changing lifestyles have further enhanced the growth of the market.

Ingredient Insights

The probiotic ingredients accounted for the revenue share of 24.66% in 2023. Rising demand for food components providing digestive and immune health benefits. These nutraceutical ingredients are incorporated in food items to yield strain-specific benefits related to their interactions with the gastrointestinal tract (GI). Consumers are widely consuming prebiotics & probiotics to enhance the gut and systemic immune system functions.

Product Insights

The functional foods held the share of 37.75% in 2023. Functional food offers numerous health benefits such as fighting fatigue, regulating the immune system & blood lipids, and providing nutritional supplements. The increasing penetration of functional foods in the rural market of India is expected to generate lucrative opportunities for nutraceutical manufacturers in the regions.

The dietary supplements market is projected to grow at a CAGR of 13.8% from 2024 to 2030. Factors such as expanding urban population, hectic lifestyle, and rising disposable income are responsible for boosting the sales of dietary supplements in the country over the forecast period. The establishment of strategic partnerships between dietary supplement manufacturers and local distributors in India is expected to remain a favorable factor for market growth over the forecast period.

Application Insights

The weight management & satiety application held a revenue share of 20.22% in 2023 owing to growing awareness of weight management among population. Hectic lifestyle and lack of proper diet is responsible for obesity and other diseases. In order to follow health and active lifestyle weight management plays a crucial role.  One in every five people in the population of over 1.2 billion in India is suffering from at least one chronic disease including respiratory, metabolic, and cardiovascular diseases. The increasing epidemic of other chronic diseases including diabetes and other nutritional challenges has led to an extensive promotion of weight management in India, subsequently driving the market.

The men’s health nutraceuticals market is expected to grow at a CAGR of 20.6% from 2024 to 2030. Men’s population in India are suffering from several diseases such as diabetes, hypertension, and others. Busy lifestyle and work stress hampering overall men’s health, which is expected to boost market growth in the coming years.

Key India Nutraceuticals Company Insights

Some of the key players operating in the market include E.I.D. - Parry (India) Limited, Zoic Pharmaceuticals, and Uniray Lifesciences

• E.I.D. Parry (India) Limited, established in 1788, headquartered at Chennai, India, is one of the world’s leading manufacturers of sugar and nutraceuticals. The company is part of the Murugappa Group.The company offers three products under the nutraceuticals space, namely Organic Spirulina, Moringa, and Organic Chlorella, in powder and tablet forms.

• Zoic Pharmaceuticals is famous for best quality and affordable products. It has a good reputation in the market and offer WHO approved products.

Lifevision Healthcare and United Laboratories are are some of the emerging market participants in India nutraceuticals market.

• Lifevision Healthcare is best known for nutraceuticals manufacturer in India. Their product lines are capsules, syrups, gels and others.

• United Laboratories is one of the top company in India. It was established in 2015 and offers its clients high quality and WHO approved products.

Recent Developments

• In June, 2023, Amway CEO announced to double the investment in India for the production and innovation Ayurveda solutions which is based on holistic wellness. 

India Nutraceuticals Market Report Scope

India Nutraceuticals Market Report Segmentation

This report forecasts revenue growth at the global and regional levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the India nutraceuticals market report based on ingredient, product, and application:

• Ingredient Outlook (Revenue, USD Million, 2018 - 2030)

  • Aloe vera

  • Amino acids

  • Botanical Ingredients

    • Ashwagandha

    • Curcumin

    • Ginseng

    • Hemp

    • Others

  • Cannabidiol (CBD)

  • Carbohydrates

  • Carnitine

  • Food Color

  • Carotenoids

    • Astaxanthin

    • Lutein

    • Lycopene

    • Other carotenoids (Zeaxanthin, Betacarotene)

  • Spirulina

  • Collagen

  • Colostrum

  • Cultures and fermentation starters

  • Dairy ingredients

  • Emulsifiers

  • Enzymes

  • Essential oils

  • Fat replacers

  • Fats and oils

  • Fibers

  • Flavors

  • Fruit and vegetable products

  • Glucosamine / Chondroitin

  • Isoflavones

  • Juices and concentrates

  • Krill

  • Lipids / Fatty Acids

  • Marine ingredients

  • Minerals

    • Calcium

    • Iron

    • Magnesium

    • Selenium

    • Others

  • Omega-3s

    • Marine Derived

    • Plant-derived

  • Prebiotics

  • Probiotics

  • Proteins

  • Sweeteners

    • Stevia

    • Monkfruit

    • Others (Honey, sucrose, fructose, etc.)

  • Vitamins

    • Vitamin A

    • Vitamin B

    • Vitamin C

    • Vitamin D

    • Vitamin E

    • Vitamin K

  • Whey proteins

  • Other

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Dietary supplements

  • Functional foods

  • Functional beverages

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Allergy & intolerance

  • Animal nutrition

  • Healthy ageing

  • Bone & joint health

  • Cancer prevention

  • Children's health

  • Cognitive health

  • Diabetes

  • Digestive / Gut health

  • Energy & endurance

  • Eye health

  • Heart health

  • Immune system

  • Infant health

  • Inflammation

  • Maternal health

  • Men's health

  • Nutricosmetics

  • Oral care

  • Personalized nutrition

  • Post Pregnancy and reproductive health

  • Sexual health

  • Skin health

  • Sports nutrition

  • Weight management & satiety

  • Women's health

  • Other