A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the India Dietary Supplements Market was worth USD 4.31 billion in 2021 and is projected to reach USD 11.7 billion by the year 2028, growing at a CAGR of 15.4% during the period of 2022-2028. The growth of the Indian dietary supplements market can be primarily attributed to large-scale launches of high-quality supplements by different market players to suit the different needs of a diverse population. Moreover, factors like a growing trend towards preventive healthcare coupled with rising disposable incomes are likely to propel the market over the forecast -period.
Large Scale launch of High-Quality Supplements by Market players
The market players are coming up with high-quality and secure dietary and food supplements in order to meet the standard set by major regulatory agencies and governments. Additionally, during the projection years, there is expected to be greater demand for clean-labeled safe, organic, and natural ingredients, which would result in high growth opportunities for the dietary supplements market. For instance- Wellbeing Nutrition, a research-based wholefood nutrition startup founded in 2019 by Avnish Chhabria that uses plant-based ingredients to provide organic and non-genetically modified vitamins, registered a 700% growth YoY in 2021.
Moreover, the growing popularity of bodybuilding and sports among individuals is another element that has created tremendous potential for the Indian dietary supplement markets. Several market players such as Amway India, Herbal International India, and Sun Pharmaceutical Industries have launched various products to cater to the different requirements of different sections of the population. Thus, these factors are fostering market expansion for human dietary supplements over the forecast period.
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Increasing emphasis on preventative healthcare practice to promote growth
Consumer awareness of preventive healthcare measures is rising along with consumer interest in items that promote health, such as food additives, which is likely to boost the Indian market. Age- and lifestyle-related disorders are on the rise. Growing innovation by both major and minor industry participants is supporting the expansion of the Indian market. For example, in March 2018, the GHT companies announced the introduction of a new product line of nutrition that is entirely vegan. The new products are created to satisfy the rising demand for weight-management aids made from plant-based ingredients rather than animal products.
Adults Segment Accounted for the Largest Market Share in India Dietary Supplements Market in 2021
On the basis of end-user, the Indian dietary supplements market has been segmented into an infant, children, adults, pregnant women, and the old-aged. Amidst the segmentation, the adult segment dominated the market with a considerable market share in 2021. This can be attributed to the changing lifestyles and frantic work schedules among working adults that lead to nutritional deficiencies. Most of the time is spent indoors with minimal exposure to sunlight, while the exposure to harmful blue light remains high. This deters the synthesis of essential vitamins and minerals in their body, leading to their deficiency. Thus, there is an increased consumption of dietary supplements by adults. Moreover, the increasing prevalence of cardiovascular diseases, obesity, diabetes, and other associated conditions among adults is expected to be the crucial factor driving the market.
Impact Of COVID-19 On the Indian Dietary Supplements Market
The sudden breakout of the coronavirus pandemic had a significant impact on the Indian dietary supplements market expansion. As the economy struggled due to the pandemic, the Indian dietary supplements market witnessed a short-term disruption due to halted production, manufacturing plant shut-downs, ravaged trade, and the supply chain for nutritional supplement goods. However, the pandemic resulted in an upsurge in demand for human food supplements as people adopted them as means to build a robust immune system and lessen the likelihood of health threats. Moreover, the pandemic resulted in heightened health consciousness among Indian consumers, which acted as a boon for the Indian dietary supplements market.
Competitive Landscape
The India Dietary Supplements Market is characterized by many local, regional, and Indian vendors. The key players operating in the India Dietary Supplements Market are Amway India Enterprises Private Limited, Herbal International India Private Limited, Dabur India Limited, Abbott India Limited, Kraft Heinz India Private Limited, Himalaya Drug Company, Sun Pharmaceutical Industries Limited, GlaxoSmithKline Consumer Healthcare Limited, Danone, Nutricia International Private Limited and other prominent players. The players maintain their dominance in the market by investing in research and development activities, integrating the latest and advanced technologies into their products, and launching improved products for the customers.
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