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The Indian Market for Dietary Supplements 2018-2023 - CAGR of 20% is Expected for 2015-2023 - ResearchAndMarkets.com

August 3, 2018

DUBLIN--(BUSINESS WIRE)--Aug 3, 2018--The “Dietary Supplements (Vitamin, Herbal, Probiotic, Omega-3, Protein Supplements) Market in India 2018-2023” report has been added to ResearchAndMarkets.com’s offering.

The dietary supplements market in India is expected to grow CAGR of ~20% from 2015 to 2023.

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.

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.

Vitamin supplements dominate the dietary supplements market in India. Amway India Enterprises Limited is the market leader in the vitamins and dietary supplements segment, with ~33.8% market share, followed by Pfizer Limited, Merk, Bayer, and Abbott. The probiotic drugs and dietary supplements segment is dominated by Dr. Reddy’s Laboratories, Tablets India, and USV India.

Key Growth Drivers

Rapid digitization and increase in social media usage have increased awareness regarding nutrition care and improved access to vital information. Changing lifestyles is increasing the incidence of several diseases such as diabetes, blood pressure, obesity and cardio-vascular problems, among others. In urban areas, higher income groups are the main consumers of dietary supplements and this will grow at a considerable rate. Moreover, rising health consciousness, rapid growth of the e-commerce market and rising per capita income are driving the growth of the dietary supplements market in India.

Key Challenges

The lack of clear regulatory framework has been a major challenge to the growth of the dietary supplements market in India. Around 60% of the dietary supplements sold across India are fake, counterfeit, unregistered and unapproved, in addition to being extremely difficult to identify. In India, protein supplements are priced high, making it quite expensive for consumption on a regular basis by the lower middle class and rural population of the country.

Key Trends

Dietary supplements manufacturers are providing an increasing amount of information to customers to make them aware about their products. Market players are currently undertaking a number of measures to win customer trust and improve overall quality standards in the industry. Consumers prefer dosages in the form of capsules since they are easier to swallow and offer more formulation flexibility. Liquid encapsulation is one of the emerging technologies and it provides superior safeguarding of the ingredients through moisture protection.

Notable Development

In March 2018, Amway Enterprises India Ltd. launched Nutrilite in the herbal segment. The Nutrilite Traditional Herbs range includes Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha and Nutrilite Amalaki, Vibhitaki, and Haritaki.

Companies Featured

Abbott India Ltd. Amway India Enterprises Pvt. Ltd. Cadila Healthcare Ltd. Dabur India Ltd. GlaxoSmithKline Consumer Healthcare Ltd. Herbalife International India Pvt. Ltd. The Himalaya Drug Company Merck Ltd. Patanjali Ayurved Ltd. Sun Pharmaceutical Industries Ltd.

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: Socio-Economic Indicators

Chapter 3: Introduction

Chapter 4: Global Health Supplements Market

Chapter 5: Indian Nutraceutical Market

Chapter 6: Indian Dietary Supplements Market

Chapter 7: Indian Dietary Supplements Market Segmentation

Chapter 8: Trade Analysis

Chapter 9: Key Factors Aiding Growth of the Market

Chapter 10: Key Deterrents to the Growth of the Market

Chapter 11: Key Trends

Chapter 12: Competitive Landscape

Chapter 13: Recent Developments

For more information about this report visit https://www.researchandmarkets.com/research/8fh9xp/the_indian_market?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180803005466/en/

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Related Topics:Vitamins and Dietary Supplements,Health Food and Sports Nutrition,Nutraceuticals and Weight Loss

KEYWORD: ASIA PACIFIC INDIA

INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION RETAIL FOOD/BEVERAGE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/03/2018 02:48 PM/DISC: 08/03/2018 02:48 PM

http://www.businesswire.com/news/home/20180803005466/en

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