April 01st, 2024

India Dietary Supplements Market Size, Share, and Competitive Analysis by 2029 - A Comprehensive Study from TechSci Research

India Dietary Supplements Market Size, Share, and Competitive Analysis by 2029 - A Comprehensive Study from TechSci Research

The India dietary supplements market is poised for substantial growth, driven by factors such as increasing consumer awareness about health and wellness, advancements in science and technology, and the emergence of new plant-based proteins. According to the latest report from TechSci Research titled "India Dietary Supplements Market - By Region, Competition, Forecast and Opportunities, 2029", the market is anticipated to witness impressive growth in the forecast period. This report delves into the various dynamics shaping the landscape of dietary supplements in India, exploring key trends, challenges, and opportunities.

Rising Demand for Nutraceuticals

One of the primary drivers of the India dietary supplements market is the rising demand for nutraceuticals with medical benefits. Consumers are increasingly turning to dietary supplements to manage various health issues such as obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes. Moreover, there is a growing preference for personalized nutrition among individuals facing gut-related issues, driving the uptake of dietary supplements tailored to specific health needs.

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Advancements in Science and Technology

The rapid advances in science and technology have significantly contributed to the growth of the dietary supplements market in India. These advancements have led to the development of innovative formulations and delivery systems, enhancing the efficacy and bioavailability of dietary supplements. Additionally, technological innovations have facilitated the production of new plant-based proteins such as soy, spirulina, pea, and hemp, further expanding the product portfolio and driving market growth.

Challenges in Regulation and Consumer Perception

Despite the promising growth prospects, the regulation of dietary supplements in India remains complex. Strict regulations govern the health claims that can be made, posing a challenge for market players in terms of product labeling and marketing. Moreover, misinformation about dietary supplements abounds, leading to confusion among consumers and potentially hampering market growth. Additionally, concerns regarding long-term treatment adherence and potential interactions with other medications pose risks to consumer health and market expansion.

Segmentation and Market Dynamics

The India dietary supplements market can be segmented based on various parameters, including product type, form, distribution channel, application, end-user, and region. Key segments based on application include immunity, general health, energy & weight management, bone & joint health, and others. The energy & weight management segment is expected to maintain its dominance, driven by increasing demand for supplements containing proteins and vitamins, particularly among sports enthusiasts.

In terms of distribution channels, pharmacies and drug stores, online platforms, supermarkets, and hypermarkets play significant roles in facilitating access to dietary supplements. Supermarkets and hypermarkets are expected to dominate the distribution landscape, offering a wide range of products under one roof and catering to the growing consumer demand for convenience and variety.

Competitive Analysis

The India dietary supplements market is characterized by intense competition among key players striving to innovate and differentiate their offerings. Companies are focusing on product development, diversification, and strategic partnerships to gain a competitive edge in the market. Furthermore, investment in research and development, quality assurance, and regulatory compliance are crucial for building consumer trust and sustaining market growth.

Benefits of the Research Report:

• Provides comprehensive insights into the India dietary supplements market, including growth drivers, challenges, and opportunities.

• Offers strategic recommendations for market players to capitalize on emerging trends and navigate regulatory complexities.

• Facilitates informed decision-making by providing in-depth analysis of market dynamics and competitive landscape.

• Enables stakeholders to devise effective strategies for market expansion, product development, and customer engagement.

The India dietary supplements market presents lucrative opportunities for growth, driven by evolving consumer preferences, technological advancements, and increasing awareness about health and wellness. While regulatory challenges and consumer perceptions pose hurdles, strategic interventions and innovation can help overcome these barriers. With a focus on quality, innovation, and consumer education, stakeholders can unlock the full potential of the dietary supplements market in India.

Major companies operating in India dietary supplements market are:

• Amway India Enterprises Pvt. Ltd.

• Herbalife International India Pvt. Ltd.

• Himalaya Drug Company

• Dabur India Ltd.

• Abbott India Ltd.

• Patanjali Ayurved Ltd.

• GlaxoSmithKline Consumer Healthcare Ltd.

• Sun Pharmaceutical Industries Ltd.

• Piramal Enterprises Ltd.

• Danone India/India

Amway India introduced a new plant-based protein powder called Nutrilite All Plant Protein in 2020, aimed at meeting the increasing demand for plant-based supplements.

Dabur India acquired 100% stake in the personal care brand, "Happily Unmarried" in 2021, aimed at expanding its product portfolio in the health and wellness segment.

Abbott India acquired a 74% stake in NutriHealth in 2020, a company that provides personalized nutrition and wellness solutions to consumers.

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“The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, which will contribute to the increasing demand for dietary supplements in India, during the forecast period. Besides, increasing concern about healthy lifestyles and increasing expenditure on health and wellness is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Dietary Supplements Market, By Product Type (Vitamin, Combination Dietary Supplements, Protein, Herbal Supplements, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules, Tablets, Powder, Soft Gels, and Liquid), By Distribution Channel (Pharmacies and Drug Stores, Online, Supermarkets and Hypermarkets, and Others), By Application (Immunity, General Health, Energy & Weight Management, Bone & Joint Health, and Others), By End User (Adults, Geriatric, Pregnant Females, Children, and Infants), By Region, Competition, Forecast and Opportunities, 2029”, has evaluated the future growth potential of India dietary supplements 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 dietary supplements market.

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