India Dietary Supplements Market to be Dominated by Supermarkets and Hypermarkets Segment through 2029
The
increasing concern about health benefits is expected to drive the growth of
India dietary supplements market in the forecast period, 2024-2029.
According to
TechSci Research report, “India Dietary Supplements Market - By Region,
Competition, Forecast and Opportunities, 2029”, India dietary supplements
market is anticipated to grow at an impressive rate in the forecast period. This
can be ascribed to the rising demand for nutraceuticals with medical benefits
such as managing health issues like obesity, cardiovascular disease, cancer,
cholesterol, arthritis, and diabetes along with growing preference for
personalized nutrition among people are facing gut related issues across the
region. Additionally, rapid advances in science and technology, increasing
healthcare costs, changes in food laws affecting label and product claims,
burgeoning aging population, and rising interest in attaining wellness through
diet will escalate the growth of India dietary supplements market in coming
years. Besides, emergence of new plant-based proteins such as soy, spirulina,
pea, and hemp will further be expected to support the India dietary supplements
market growth.
However, the
regulation of dietary supplements in India can be complex, and there are strict
regulations on the health claims that can be made which can slowing down the
growth of India dietary supplements market in the forecast period. Similarly,
there is a lot of misinformation about dietary supplements, which can lead to
confusion among consumers which may hamper the India dietary supplements market
growth during the forecast period. Also, dietary supplements often require
long-term treatment, and non-adherence can lead to poor health outcomes.
Patients may stop taking medications due to side effects, cost, or other
reasons While many dietary supplements are safe when taken as directed, there
are still risks associated with their use, such as interactions with other
medications which can further restrict the growth of India dietary supplements
market.
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The India
dietary supplements market can be segmented by product type, form, distribution
channel, application, end user, and region.
Based on
application, the India dietary supplements market can be segmented into
immunity, general health, energy & weight management, bone & joint
health, and others. The energy & weight management segment dominated the
market in 2022 and is expected to continue maintaining its dominance throughout
the forecast period. This can be ascribed to increasing demand for dietary
supplements containing proteins and vitamins, which are widely influenced by
sports enthusiasts in the form of nutrition bars, sports nutrition supplements,
and energy drinks.
Based on
distribution channel, the market can be segmented into pharmacies and drug
stores, online, supermarkets and hypermarkets, and others. The supermarkets and
hypermarkets segment are expected to dominate during the forecast period on
account of the rising awareness related to sale level of dietary supplements
and they also play a substantial role in the distribution of dietary
supplements in India. These large-format retail stores provide a wide range of
products, including dietary supplements, under one roof, making it convenient
for consumers to purchase them along with their regular groceries.
Major
companies operating in India dietary supplements market are:
- Amway India
Enterprises Pvt. Ltd.
- Herbalife
International India Pvt. Ltd.
- Himalaya Drug
Company
- Dabur India
Ltd.
- Abbott India
Ltd.
- Patanjali
Ayurved Ltd.
- GlaxoSmithKline
Consumer Healthcare Ltd.
- Sun
Pharmaceutical Industries Ltd.
- Piramal
Enterprises Ltd.
- Danone
India/India
Amway India
introduced a new plant-based protein powder called Nutrilite All Plant Protein
in 2020, aimed at meeting the increasing demand for plant-based supplements.
Dabur India
acquired 100% stake in the personal care brand, "Happily Unmarried"
in 2021, aimed at expanding its product portfolio in the health and wellness
segment.
Abbott India
acquired a 74% stake in NutriHealth in 2020, a company that provides
personalized nutrition and wellness solutions to consumers.
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“The trend of
personalized nutrition is growing, particularly among individuals with
gut-related medical conditions, which will contribute to the increasing demand
for dietary supplements in India, during the forecast period. Besides,
increasing concern about healthy lifestyles and increasing expenditure on
health and wellness is further expected to create lucrative opportunities for
the market growth” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Dietary Supplements Market,
By Product Type (Vitamin, Combination Dietary Supplements, Protein, Herbal
Supplements, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules,
Tablets, Powder, Soft Gels, and Liquid), By Distribution Channel (Pharmacies
and Drug Stores, Online, Supermarkets and Hypermarkets, and Others), By
Application (Immunity, General Health, Energy & Weight Management, Bone
& Joint Health, and Others), By End User (Adults, Geriatric, Pregnant
Females, Children, and Infants), By Region, Competition, Forecast and
Opportunities, 2029”, has evaluated the future growth potential of India
dietary supplements 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 dietary
supplements market.
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