India Dietary Supplement Market to Grow at CAGR of Over 16% through FY2027
Growing
health concerns due to hectic and stressful lifestyle, rising disposable
income, and increasing consumer awareness to drive India dietary supplement
market through FY2027
According to TechSci Research
report, “India Dietary Supplement Market By
Product Type (Vitamin, Combination Dietary Supplement, Herbal Supplement, Fish
Oil & Omega Fatty Acid, Protein & Other), By Form (Tablets, Capsules,
Powder, Liquids, Soft Gels/Gel Cap), By Distribution Channel (Pharmacies and
Drug Stores, Supermarkets and Hypermarkets, Online, Others), By Application (Energy
& Weight Management, General Health, Bone & Joint Health, Immunity,
Others), By End Use (Infants, Children, Adults, Pregnant Females, Geriatric), By
Region, Competition,
Forecast & Opportunities, FY2027”, the India dietary
supplement market was valued USD 3924.44 million in FY2020 and is predicted to
grow at a CAGR of more than 16% until FY2027F, to reach more than USD 10,500 million
by FY2027. Expanding working-class population, which is highly active on social
media, has a higher awareness of lifestyle diseases caused due to lack of
proper diet. Dietary supplements can be beneficial for the health, which can
improve health issues. The U.S. Food and Drug Administration (FDA) has the
authority to review dietary supplement products for safety and effectiveness
before they are marketed. Dietary supplements include ingredients such as
vitamins, minerals, herbs, amino acids, and enzymes. Dietary supplements are
marketed in forms such as tablets, capsules, soft gels, gel caps, powders, and
liquids. In addition, people with hectic lifestyles are not able to maintain a
balanced diet, therefore, they tend to use dietary supplements to fulfill their
dietary requirements. Rising per capita disposable income has led to an
increase in consumer spending on discretionary products. People want to stay
fit and fine; however, because of their busy and occupied schedule, they must
consume supplements to fulfill the minerals and vitamins balance in their body.
Middle-income consumers are now spending more on dietary supplements, due to
rising disposable income. A rising number of consumers are preferring food
supplements that contain healthy and natural ingredients. This is due to
growing consumer awareness about the consumption of healthier ingredients and
increasing concern for sustainability. Thus, most of the dietary
supplement-producing companies are focusing on the use of organic/ecological or
sustainable ingredients. This increase in demand for consuming organic products
by consumers is boosting the botanical-based food supplement market in India.
Government initiatives and steps are taken to keep a check on the quality of
the supplements also ensure the growth of the market. The FDA has established
good manufacturing practices (GMPs) that companies must follow to help ensure
the identity, purity, strength, and composition of their dietary supplements.
These GMPs can prevent adding the wrong ingredient (or too much or too little
of the correct ingredient) and reduce the chance of contamination or improper
packaging and labeling of a product. The FDA periodically inspects facilities
that manufacture supplements.
India
dietary supplement market is segmented into product type, form, distribution
channel, application, end use and region. Based on product type, the India
dietary market is divided into vitamin, combination dietary supplement, herbal supplement,
fish oil & omega fatty acid, protein & others. The largest market share
is held by Vitamin whereas, herbal supplement is the fastest growing as
consumer demand is driving towards organic and herbal products. Based on form, the
market is dominated by tablet but in the forecast period, capsules are
witnessed to be the fastest growing. In terms of by region, the market is
divided into North, South, East & West. Among these, North-India dominates
the markets with a market share of 30.55% in FY2020, due to higher standard of
living of people.
Browse 6
market data Tables and 62 Figures spread through 99
Pages and an in-depth TOC on "India Dietary Supplement Market"
https://www.techsciresearch.com/report/india-dietary-supplement-market/1647.html
With rising
disposable income and sedentary lifestyle patterns, consumers are shifting
towards convenient shopping options. Indian consumers are increasingly opting
for online shopping and digital payment methods as a result of growing internet
connectivity and smartphone penetration. Dietary supplement players are also
focusing on e-commerce platforms to increase their consumer reach.
Based on end-use,
the market is segmented into infants, children, adults, pregnant females, geriatric.
Among these, the adults segment accounted for the dominant share in FY2020 due
to rising awareness among this segment for fat reduction and increasing focus
for improving nutrition intake.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1647
Customers
can also request for 10% free customization on this report.
“Due to stressful, hectic, and sedentary lifestyles, individuals are
unable to start with a healthy breakfast. With rising cases of lifestyle
diseases such as diabetes, blood pressure, cardiovascular diseases, asthma,
etc., more and more people are focusing on consuming a balanced diet, and for
that, they are opting for dietary supplements as a part of their diet.
Balancing health and time is what an increasing number of consumers are looking
into, and consequently, a rising number of manufacturers of dietary supplements
are trying to capitalize on this growth opportunity.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Dietary Supplement
Market By Product Type (Vitamin, Combination Dietary Supplement, Herbal
Supplement, Fish Oil & Omega Fatty Acid, Protein & Other), By Form
(Tablets, Capsules, Powder, Liquids, Soft Gels/Gel Cap), By Distribution
Channel (Pharmacies and Drug Stores, Supermarkets and Hypermarkets, Online,
Others), By Application (Energy & Weight Management, General Health, Bone
& Joint Health, Immunity, Others), By End Use (Infants, Children, Adults,
Pregnant Females, Geriatric), By Region, Competition, Forecast &
Opportunities, FY2027”
has evaluated the future growth potential of India dietary supplement market and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers to take sound investment evaluation. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, trends and opportunities present in India dietary supplement market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web: https://www.techsciresearch.com/