India Immunity Boosting Packaged Products Market to Cross $ 347 Million by 2026
Rising awareness about preventive health, increasing
disposable income, growing product availability and increasing incidence of
diseases such as COVID-19 to drive India immunity boosting packaged products
market
According
to TechSci Research report, “India
Immunity Boosting Packaged Products Market By Product Category, By Distribution
Channel, By Region, Competition, Forecast & Opportunities, FY2026”,
India immunity boosting packaged products market is anticipated
to witness robust growth during the forecast period and reach $ 347 million by
FY 2026 owing to the rising awareness among consumers towards immunity boosting
products, expanding middle class population and increasing disposable income.
The outbreak of COVID-19 is also acting as a major growth factor for this
market as there is a growing need for immunity boosting packaged products.
Furthermore, increasingly busy lifestyle is resulting in a lack of nutrition
and fitness among people, which is creating a huge demand for immunity boosting
packaged products in the Indian market. Also, the rising geriatric population,
who have comparatively weaker immune system, is another factor expected to
drive the market growth in the coming years.
Additionally, rapid growth of the e-commerce market is
augmenting the growth of immunity boosting packaged products market in India.
Manufacturers are also coming up with new products with higher therapeutic
benefits, which is creating a wider consumer base for immunity boosting
packaged products in the country. However, India immunity boosting packaged products
market is also facing some restrains. The high cost of raw materials is causing
a hindrance to the market growth. Also, the lack of a clear regulatory
framework is posing as a challenge for the manufacturers and increasing
presence of the generic products with false claims leads to distraction among
consumers.
Browse over 16 market data Figures
spread through 70 Pages and an in-depth TOC
on"India Immunity Boosting Packaged
Foods Market"
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India
immunity boosting packaged products market is segmented based on product category,
distribution channel and region. Based on the product category, the market is
categorized into food, beverages, supplements, and others. Among them, the supplements
segment accounted for the largest market share in FY2020 and the segment is
further expected to undergo rapid growth during the forecast period. The food
segment is also expected to witness growth during the forecast period due to rising
focus on preventive healthcare in the country and wider product varieties being
introduced by the manufactures.
Based
on the distribution channel, India immunity boosting packaged products market
is segmented into convenience stores, specialty stores, supermarkets &
hypermarkets, medical stores and online. The convenience stores segment dominated
the Indian market in FY 2020 and the segment is expected to grow substantially
during the forecast period owing to ease of buying for customers. However, the
online segment is poised to witness fastest CAGR during the forecast period due
to the increasing availability of immunity boosting packaged products on
e-commerce sites and growing preference of people to shop online, especially
during the spread of COVID-19.
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Based on the region the market is segmented in West, South, North, and
East regions. Among them, West India accounted for the largest market share in FY
2020. Over the next five years, North region is expected to witness fastest
growth and emerge as the largest regional market for immunity boosting products
in India by FY 20226. Major
players operating in India immunity boosting packaged products market are Dabur
India Ltd., The Himalaya Drug Company, Patanjali Ayurved, Amway India
Enterprise Private Limited, Baidyanath Ayurved Bhawan Pvt. Ltd, Organic India
Private Limited, Herbalife India Private Limited, Kerala Ayurveda, Aeronutrix
Sports Products Private Limited, TBOF foods Ltd, Del Monte India including
others. Leading companies are investing in new product launches, expanding distribution
networks and entering into collaborations to increase their market share. Few
of the developments that took place over the last few years include ITC and Amway
together introducing exclusive immunity boosting juice range named “B Natural+”;
Del Monte announcing the launch of Del Monte’s ACE that help in boosting
immunity; AMUL rolling out ‘Haldi Doodh’ beverage to boost the immune system; New
additions in Dabur’s portfolio such as ready-to-use immunity boosting products
like Tulsi Drops, Giloy Neem with Tulsi Juice, Amla Juice and the Immunity Kit;
and Bonn Group of Industries unveiling immunity booster herb & seeds bread
under its Nu Health product range.
“Millennials
in India are increasingly inclining towards health & fitness and are spending
money on improving their health. The rise in the middle-class population and
increasing urban population has led to considerable demand for immunity
boosting packaged products in India over the last few years. Moreover, the growth
of the Indian fitness industry is supporting the growth of immunity boosting
packaged products in the country. Also, latest launches by the leading
companies will attract consumers in the long run towards immunity boosting
products. Rising cases of coronavirus are s also making consumers spend more on
preventive healthcare goods including immunity boosting packaged products,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based India
management consulting firm.
“India Immunity Boosting Packaged Products
Market By Product Category, By Distribution Channel, By Region, Competition, Forecast
& Opportunities, FY2026” has
evaluated the future growth potential of immunity boosting packaged foods market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in India immunity boosting packaged foods market.
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