The
India dietary supplements market is anticipated to witness an impressive growth
during the forecast period. This can be ascribed to the growing demand for
functional foods because they help in bone healing, cholesterol control, heart
health, and vision. Also, the increasing demand for nutrients and fortified
food additives, such as omega 3 fatty acids, fiber, vitamins, and minerals due
to their increased nutritional value is expected to create a lucrative growth
of India dietary supplements market during the forecast period. According to
Statistics India, as of 2021, 245 food supplement stores have been opened in
the entire region of the country.
Growing
Aging Population
The
aging population in India has had a significant impact on the growth of the
dietary supplements market. As people age, their nutritional needs change, and
they may require additional vitamins, minerals, and other nutrients to maintain
their health and prevent disease. This has led to an increased demand for
dietary supplements among older adults in India. Moreover, older adults in
India are more likely to have chronic health conditions, such as heart disease,
diabetes, and osteoporosis. Many of these conditions can be managed or
prevented with proper nutrition and dietary supplementation. This has led to an
increased demand for supplements that can support heart health, bone health,
and blood sugar control. According to the 2011 census, people aged 60 and
over accounted for 8.6% of the population, equivalent to 103 million elderly
people. With annual growth of about 3%, that number will increase to 319
million by 2050. 75% of them have some chronic disease, 40% have some kind of
disability and 20% have mental health-related problems. This demographic
shift has created a large and growing market for dietary supplements targeted
towards older adults. As a result, the vitamin, and mineral supplements
segment, which caters to the nutritional needs of older adults, holds the
largest market share in the India dietary supplements market.
Growing
Concerns about Health
Health
consciousness has had a significant impact on the growth of the dietary
supplements market in India. Consumers are becoming more aware of the role that
nutrition plays in maintaining optimal health and preventing disease. This has
led to an increased demand for dietary supplements that can support overall
health and well-being. With the rise of social media and the availability of
information on the internet, Indians are increasingly informed about health and
nutrition. They are seeking ways to support their health through diet and
lifestyle changes, and many are turning to dietary supplements to complement
their efforts. Vitamins, protein, and minerals are among the most used
dietary supplements in India and consumers are looking to supplement their diets
with essential nutrients. Furthermore, the growing prevalence of chronic
diseases, such as heart disease, diabetes, and cancer, has made Indians more
aware of the importance of preventive healthcare. Many consumers are looking
for ways to prevent disease and maintain their health, and they view dietary
supplements to achieve these goals. Consumers are also seeking supplements made
from natural ingredients. The trend towards natural and organic products in
India has led to an increased demand for herbal supplements, which are
perceived to be safer and more effective than synthetic supplements. These
factors are anticipated to boost the growth of India dietary supplements
market.
Growing
Demand for Natural and Organic Supplements Growing the Market
The
trend towards natural and organic products has had a significant impact on the
growth of the dietary supplements market in India. Consumers are increasingly
seeking products made from natural and organic ingredients, including
supplements, which are perceived to be safer, more effective, and better for
the environment. One of the main reasons for this growth is the perception that
natural and organic supplements are healthier than synthetic supplements.
Consumers are concerned about the potential side effects of synthetic
supplements and are seeking safer and more natural alternatives. The use of
natural and organic ingredients in supplements has been associated with a range
of health benefits, such as improved digestion, better immune function, and
increased energy levels. Additionally, the trend towards natural and organic
supplements has been driven by a growing awareness of the impact of food
production on the environment. Many consumers are seeking products that are
sustainably produced and have a lower environmental impact. This has led to an
increased demand for supplements made from organic ingredients and produced
using environmentally friendly practices.
Growing
Development in Delivery Format Driving the Market
Convenience
has had a significant impact on the growth of the dietary supplements market in
India. Consumers are increasingly pursuing products that are easy to use and
integrate into their busy lifestyles. The convenience factor has become a key
driver of growth in the India dietary supplements market, as consumers look for
products that are easy to take and fit into their daily routines. One of the
main ways that convenience has influenced the growth of the market is through
the development of new delivery formats. Companies are developing supplements
in a range of formats, such as gummies, powders, and chewable tablets, that are
easy to take on-the-go and integrate into daily routines. For example, gummy
supplements have become increasingly popular among consumers who find them more
palatable and easier to take than traditional capsules. Another way that
convenience has influenced the growth of the market is through the availability
of supplements in retail stores and online. Consumers can now purchase
supplements in a variety of locations, including pharmacies, grocery stores,
and online retailers. This makes it easier for consumers to access the products
they need without having to go out of their way to find them. Furthermore, many
supplements are now formulated to provide a combination of vitamins and
minerals, allowing consumers to take a single supplement instead of multiple
pills. This makes it more convenient for consumers to get the nutrients they
need without having to take many pills or supplements.
Increasing
Disposable Income
Increased
disposable income has had a significant impact on the growth of the dietary
supplements market in India. As consumers have more disposable income, they are
more willing to spend money on products that support their health and
well-being, including dietary supplements. With increased disposable income,
consumers can purchase higher-priced supplements and are more likely to
purchase premium and specialty supplements. This has led to the development of
a wide range of specialized supplements, such as sports nutrition supplements,
weight management supplements, and supplements for specific health conditions.
Furthermore, increased disposable income has allowed consumers to invest in
preventive healthcare, which includes the use of dietary supplements. Consumers
are seeking ways to maintain their health and prevent disease, and they view
dietary supplements to achieve these goals. In addition, increased disposable
income has allowed consumers to purchase dietary supplements from a variety of
sources, including health food stores, online retailers, and specialized
supplement stores. This has increased the accessibility of supplements to a
wider range of consumers and has helped to drive growth of India dietary
supplements market.
Growing
Demand for Preventive Healthcare
Preventive
healthcare has had a significant impact on the growth of the dietary
supplements market in India. With the rising cost of healthcare and an aging
population, consumers are seeking ways to maintain their health and prevent
disease, and they view dietary supplements to achieve these goals. Preventive
healthcare involves taking steps to prevent disease before it occurs, and the
use of dietary supplements is an important part of this strategy. Many
consumers view supplements to fill nutritional gaps in their diets and support
overall health and wellness. The use of dietary supplements as a preventive
healthcare strategy has become increasingly popular in recent years, and this
trend is expected to continue. One of the reasons for the growth of the
preventive healthcare segment is the increasing focus on healthy aging. As the
population ages, there is a growing awareness of the importance of maintaining
health and preventing disease. Many consumers are seeking ways to support their
overall health and wellness as they age, and dietary supplements are seen as an
important part of this strategy. Additionally, the use of dietary supplements
as a preventive healthcare strategy has been driven by a growing awareness of
the importance of nutrition in maintaining health. Many consumers are seeking
ways to improve their nutrition and view supplements to fill nutritional gaps
in their diets.
Recent
Developments
- Abbott
India acquired a 74% stake in Nutri-Health in 2020, a company that
provides personalized nutrition and wellness solutions to consumers.
- Himalaya
Drug Company launched a range of plant-based immunity-boosting supplements
in response to the COVID-19 pandemic.
- Amway
India introduced a new plant-based protein powder called Nutri-lite 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.