With vitamin and mineral supplements, a major portion of this market is now functional foods and beverages that serve as meal replacements, protein supplements and more
The nutraceuticals industry in India is worth $2.2 billion and is expected to grow at 20 per cent to reach $6.1 billion by 2020. The rapid growth of this sector points at the new growing demand for health food and supplements. India, which was a market of consumers skeptical about supplements, is now one with rapidly rising demand for dietary supplements. In the past few years, the market has grown wider. Besides vitamin and mineral supplements, a major portion of this market is now functional foods and beverages that serve as meal replacements, protein supplements and more.
Seeing the rising demand, many major pharmaceuticals and FMCGs have taken the nutraceuticals route in the past few years. Players like GlaxoSmithKline, Nestle, and even Ayurveda brands like Patanjali and Baidyanath have introduced nutritional supplements like protein powders, energy bars, soya milk and much more. However, what’s making this segment a hub of opportunities is the emergence of pure-play nutraceuticals brands as potential players who are not just setting shops, but are also expanding through the route of franchising and distribution. These include names like Body Building India, Flabthugs, Naturelle India, WOW and Nutrus. With India moving towards urbanization and busier lifestyles, the nutraceuticals market is going to see a huge jump with the rise of social media and awareness about nutritional grab and go food.