With vital information and researched data, Facto Market Insights has diligently structured this research study titled Indian Dietary Supplements Market highlighting the dietary supplements market. This assessment delivers high-end statistics concerning market size, Y-o-Y growth and revenue share linked to different geographies and segmentation types. Furthermore, readers would be provided section wise detailing concerning product catalogue, applications and end-user contributions during the stated forecast period.
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The nutraceutical and dietary supplements market in India is still at a nascent stage. Nutraceuticals are products that improve health conditions and have medicinal benefits that aid in the prevention and treatment of diseases. The nutraceuticals market in India was valued at INR 260 Bn in 2017 and is expected to reach a value of INR 808 Bn by 2023, expanding at a CAGR of ~17%.
Nutraceuticals market segmentation:
The nutraceuticals market is segmented into the following types:
o Functional food
o Functional beverages
o Dietary supplements
Dietary supplements dominate the market with a 65% share and functional food and beverages account for 35% of the overall nutraceuticals market. India currently accounts for ~2% of the global nutraceuticals market.
In India, the urban penetration level of nutraceuticals is around 22.15% and rural penetration is around 6.32%. Urban penetration is more since demand for protein supplements is increasing among the urban youth because of enthusiasm regarding maintaining fitness and building a strong physique. Increase in purchasing power and rising disposable income have prompted Indians to be more conscious about their health and adopt diets that ensure adequate consumption of nutritional supplements.
Indian dietary supplements market overview:
Dietary supplements are products consumed in the form of powder, capsules or liquid, in order to make up for the deficiency caused due to the lack of a balanced diet. Based on product type, the dietary supplements market is segmented into:
o Protein Supplements
The dietary supplements market in India is expected to grow CAGR of ~20% from 2015 to 2023.
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Vitamins and minerals occupies a larger share of the pie in the Indian dietary supplements market – 40% – followed by the herbal segment contributing 30%, proteins segment contributing 25% and other segments contributing around 5% of the total market. Vitamin and mineral supplements includes micronutrients which help the body function properly and improve mental health. The vitamin and mineral supplements market comprises around 100 market players. The urban population in India that resides in metro cities predominantly consumes protein supplements.
Cardiac, anti-diabetic, dermatology, vaccines, vitamins, minerals and nutrients are the fastest growing segments in the dietary supplements market.
Some of the major players operating in the market include:
o Abbott India Ltd.
o Amway India Enterprises Pvt. Ltd.
o Cadila Healthcare Ltd.
o Dabur India Ltd.
o GlaxoSmithKline Consumer Healthcare Ltd.
o Herbalife International India Pvt. Ltd.
o The Himalaya Drug Company
o Merck Ltd.
o Patanjali Ayurved Ltd.
o Sun Pharmaceutical Industries Ltd
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