Establishing a Nutraceutical Company in India: A Feasibility and Market Research Study
The Indian nutraceutical market is expanding rapidly, with a 2022 valuation of US$8.1 billion. The market is anticipated to reach US$18 billion by 2026, with a compound annual growth rate (CAGR) of 22.4%, according to Statista. This market is being driven by rising health consciousness and an emphasis on Feasibility study advisory for nutraceutical businesses in India . The aging of India's population, increased disposable income, and post-pandemic health consciousness are other factors driving the market boom.
Market Growth Drivers:One of the main factors driving the growth of vitamin and herbal supplements in India has been the aging population. Heart disease, diabetes, and obesity are among the issues that India's aging population suffers, which presents a profitable opportunity for nutraceutical suppliers.
Competitive Landscape:The nutraceutical market in India is populated by both well-known and up-and-coming brands. With a global presence in 120 countries and a line of more than 250 herbal and Ayurvedic medicines, Dabur India dominates the market. In 2024, the brand brought in USD 1.13 billion. With products like Ensure, Glucerna, and Pediasure that give customers nutrition, pharmaceutical companies like Abbott India also take advantage of the nutraceutical market.
Future of the Nutraceutical Market:The nutraceutical industry in India is expected to grow significantly in the future, as people's disposable income and spending on preventive healthcare are on the rise. It is also estimated that India's share of the worldwide market will grow from 2% in 2020 to 4% in 2024. Since research and development expenditure and the introduction of new ingredients will be crucial for the sustained and balanced growth of the industry, Feasibility study advisory for nutraceutical businesses in India is more and more important for the healthcare sector.
Conclusion
This will also fuel demand for custom-made Feasibility study advisory for nutraceutical businesses in India For all information and problems related to consumer market research, surveys and segment focused insights, our organization The India Watch deals in all types of research consultancy including curated feasibility and market research type services. The scope of the study will include but not be limited to the following.
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