Bhopal (BFN Bureau): India’s nutraceutical market is on track to soar from around USD 30 billion in 2024 to between USD 55 and 57 billion by 2030, as revealed by CareEdge Ratings. This represents a significant growth rate of about 10.5% annually, fueled by increased health awareness and a demand for natural nutrition products.
As lifestyle-related health issues become more prevalent across the nation, nutraceuticals are shifting from niche wellness items to essential health resources. Over 67% of children and 57% of women in India face anemia and other nutritional deficiencies, highlighting an urgent need for better dietary solutions.
The Driving Forces Behind Growth
Ranjan Sharma, Senior Director at CareEdge Ratings, noted that the sector is evolving into a key part of preventive healthcare. “Consumers are increasingly focused on nutrition and immunity, paving the way for double-digit growth supported by digital platforms and favorable policies,” he said.
The market sees functional foods and beverages taking the lead, comprising around 70% of consumption. Consumers’ focus on safer, plant-based options has surged, especially since the COVID-19 pandemic heightened awareness around health.
Government Initiatives Boosting the Sector
Government support plays a critical role in this expansion. Schemes like the Pradhan Mantri Kisan SAMPADA Yojana are enhancing food processing and manufacturing capabilities. With investments surpassing ₹28,000 crore across various initiatives, these programs aim to increase India’s global competitiveness in nutraceuticals.
Moreover, significant interest from larger FMCG companies in acquiring mid-sized brands signals strong confidence in this industry’s prospects. However, challenges such as regulatory hurdles and the need for validated scientific claims persist.
What this means for you: As the nutraceutical market grows, consumers can expect a wider array of health-focused products. This trend emphasizes preventive health, encouraging everyone to consider nutritional supplements as integral to their daily wellness routine.
- India’s nutraceutical market is expected to expand to USD 55-57 billion by 2030.
- Growing health consciousness and government support are driving this growth.
- Functional foods dominate the market, adapting to changing consumer preferences.
