The Indian Market for Dietary Supplements 2018-2023 - CAGR of 20% is Expected for 2015-2023 - ResearchAndMarkets.com
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 DriversRapid 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 ChallengesThe 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 TrendsDietary 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 DevelopmentIn 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 FeaturedAbbott 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
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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