Modern lifestyles are defined by their uncompromising approach towards health and wellness, and nutraceuticals have put the power of personal well-being back in the hands of the everyday consumer. With a renewed focus on nutritious low-calorie diets and fitness regimes, more and more Indians are opting for the goodness of supplements, to keep their bodies working optimally and to keep nutritional deficiencies at bay.
These supplements also help with meeting wellness targets like weight management, stress-relieving, anti-aging, skin and hair health, energy boost, and more stamina.
As people come to terms with the fact that all nutritional needs cannot be met solely via their meals, nutraceutical makers are helping fill in crucial and ‘hidden’ health gaps. To match the changing consumer lifestyles, broadly, the nutraceutical industry has put on offer both functional foods and beverages such as fortified foods and energy drinks as well as dietary supplements including vitamin and mineral tablets/gummies, protein powders, and herbal pills and botanicals for various needs. In all, consumption of nutraceuticals means more nutrition in every ounce or sip of food, while minimizing the risks of prescription drugs.
It is projected that the India nutraceuticals market will reach Rs 1.54 lakh crore by 2025. It will alone account for over 3 percent of the global market, soon.
This boom is explained by reasons such as health consciousness, but also the factor of availability. In addition to A 2018 Deloitte report on the Indian nutraceutical market says that it is expected to grow at a CAGR of 21 percent by 2022. It attributes the increasing penetration of modern retail channels and non-grocery retailers, such as drugstores and mass merchandisers, who have begun to shelf more and more lifestyle supplements with regular products. Simply put, both the supply and distribution aremaking it easy for the consumer to introduce nutraceuticals in their daily diets without side effects.
This phenomenon is only further exacerbated by the coming of COVID-19, when ‘boosting immunity’ was a buzzword, with many turning to these tablets for preventive and recuperative healthcare. A slowing down of daily routines made many turn inwards and ask themselves: ‘Are we really doingenough for our health?’ Continual consumption of some essential vitamins even post complete recovery is a trend observed among many households. Nutraceuticals’ becoming a daily habit for a major chunk of the population is a major trend shaping the wellness space globally and in India.
Notably, there is also a cost angle to the adoption of nutraceuticals. As costs of hospitalizations rise, the pricing around supplements seems like a relatively affordable investment into family and personal health. Moreover, many trusted brands are now catering separately to men’s and women’s nutritional needs. Supplements are also tailored to suit children’s daily nutrient allowances and helps parents of fussy eaters.
In all, changing consumer habits have necessitated dietary changes, a gap that is being filled by the nutraceuticals sector. Driven by convenience, availability, access and affordability, the market fo nutraceuticals is here to stay.