India Immunity Boosting Packaged Foods Market to Undergo Rapid Growth until 2025
Increasing prevalence of
various chronic diseases and rising awareness towards health to drive India
immunity boosting packaged foods market
According
to TechSci Research report, “India
Immunity Boosting Packaged Foods Market By Product Category (Food,
Beverages & Supplements), By Distribution Channel (Offline (Supermarkets
& Hypermarkets, Specialty Stores, Convenience Stores, Others), Online), By
Region, Forecast & Opportunities, 2025”, the market is anticipated to
witness robust growth during the forecast period owing to rising awareness
among consumers towards benefits of healthy eating. The outbreak of COVID-19 is
also acting as a major growth factor for this market as there is a growing need
for immunity boosting food products. Furthermore, changing lifestyle has
resulted in lack of nutrition and fitness among people, which is creating huge
demand for immunity boosting packaged food products in the Indian market. Also,
rise in geriatric population, having comparatively weak immunity system is
another factor expected to drive the market growth in the coming years.
Additionally, increasing per capita disposable income
and rapid growth of the e-commerce market are augmenting the growth of immunity
boosting packaged foods market in India. Manufacturers are also coming up with
new products with higher therapeutic benefits, which is creating a wider
consumer base for immunity boosting packaged foods in the country. Moreover,
with increasing prevalence of chronic diseases such as diabetes and cancer, the
market is poised to undergo a substantial growth in the next five years.
However, India immunity boosting packaged foods market
is also facing some restrains. High cost of raw materials and lack of awareness
among people about the benefits of these products might cause hindrance to the
market growth. Also, lack of clear regulatory framework is posing as a
challenge for the manufacturers.
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India
immunity boosting packaged foods market is segmented based on product category,
distribution channel and region. Based on product category, the market is
categorized into food, beverages and supplements. The food segment is further segmented
into seeds, dry fruits, instant food and others. The beverages segment is divided
into juice, tea, coffee, probiotic shots and others. Similarly, the supplements
segment is categorized into powder and capsules. Among them, the beverages
segment accounted for largest market share in 2019 and is further expected to
undergo rapid growth during the forecast period. The reasons can be attributed
to the easy availability and accessibility of beverages such as tea and coffee
in the Indian market. However, the supplements segment is also expected to witness
high growth rate during the forecast period due to new focus on preventive
healthcare in the country.
Based
on distribution channel, India immunity boosting packaged foods market is
segmented into offline and online channels. The offline segment is further
split into supermarkets & hypermarkets, specialty stores, convenience
stores and others. The offline segment dominated the Indian market in 2019 and
is expected to grow substantially during the forecast period owing to the high
availability of immunity boosting foods in convenience stores and supermarkets/hypermarkets.
However, the online segment is poised to witness fastest CAGR during the forecast
period due to the increasing availability of immunity boosting packaged foods
on e-commerce sites and growing preference of people to shop online as it gives
them less time-consuming shopping experience.
Major players operating in the India immunity
boosting packaged foods market include The Himalaya Drug Company, GlaxoSmithKline
Pharmaceuticals Ltd, Abbott India Limited, Dabur India Ltd., Nestle India Ltd, Danone
Nutricia India Private Limited, Patanjali Ayurved Limited, Organic India Private
Limited, Bright Life Care Private Limited, GSK Consumer Healthcare Private
Limited, Amway India Enterprise Private Limited and Herbalife India Private
Limited. The companies are investing on new product launches and strong
distribution network to increase their market share in the Indian market. Other
growth strategies being undertaken are mergers & acquisitions and
partnerships.
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“The
youth population of India is increasingly getting inclined towards health &
fitness and is spending money on organic and natural food items. The rise in
middle class population has led to considerable surge in demand for immunity
boosting packaged food products. Moreover, growth of the Indian fitness
industry is supporting the growth of immunity boosting packaged foods in the
country. Moreover, increasing cases of coronavirus are also making consumers to
spend more on preventive healthcare goods including immunity boosting packaged
foods,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Immunity Boosting Packaged Foods Market By Product
Type (Herbs & Spices, Nuts & Seeds, Fruits & Vegetables,
Dairy-Based Products, Probiotics & Prebiotics, Others), By Distribution
Channel (Offline (Supermarkets & Hypermarkets, Specialty Stores,
Convenience Stores, Others), Online), By Region, Forecast & Opportunities,
2025” has evaluated the future growth potential of India immunity
boosting packaged foods market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in India immunity
boosting packaged foods market.
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