The Nutraceutical market

The growth of the global nutraceutical market since the onset of the pandemic is expected to continue as more and more people are realising the benefits of preventive healthcare. As per a market report, the Indian nutraceutical industry was expected to reach INR 650 billion in 2022 from INR 260 billion in 2017. The plantbased nutraceuticals segment in India is expected to grow at a CAGR of 15 per cent between 2022-27 driven by the increasing demand for healthy and functional foods. In India, nutraceuticals are expected to get more attention from young professionals (especially millennials), health and fitness enthusiasts, sportspersons/athletes With and the immunocompromised.

61 per cent of the world’s millennials, with Asia is already a force to reckon in the nutraceutical market. India, with nearly 400 million millennials, is expected to register significant growth as well. Unlike pharmaceuticals, nutraceuticals are not known to contain artificial substances or chemicals and are thus deemed to have minimal or zero side-effects. They contain antioxidants, probiotics and PUFA, which can help in managing health issues like diabetes, cholesterol, arthritis, obesity and cardiovascular disease. Apart from the general health benefits, nutraceuticals can be used in combined formulations with multiple benefits. Despite the host of benefits and apparent lack of side effects, the nutraceuticals market does have issues like untested, counterfeit products that may claim to provide benefits without any proper research trials and data. Many nutraceuticals may not even be as healthy as they claim. Popular health-improvement gummies sold of nutraceuticals often in the name contain significant amounts of sugar and gelatine that many consumers would rather avoid.