Indian nutraceuticals market to reach $8.5 bn by 2022
The Dollar Business Bureau India’s nutraceuticals market is likely to touch $8.5 billion in the next five years, a study revealed. “Indian nutraceuticals market is expected to cross from a value of $2.8 billion in 2015 to a value of $8.5 billion by 2022,” as per the joint study by ASSOCHAM and RNCOS. In 2015, the country accounted for about 2% share in the world market. By 2022, the share is expected to increase to approximately 3% on account of country's huge population base, rising awareness and urban belt, said the study. The overall market is segregated into functional food & beverages and dietary supplements. “In 2015, the market for dietary supplements was $1.8 billion. However, with riding awareness, more people are opting for these supplements on their own,” DS Rawat, ...
'Indian nutraceutical industry yet to explore export avenues'
Sai Nikesh | The Dollar Business Global nutraceutical market is expected to cross $262.9 billion by 2020 from the current level of $182.6 billion, growing by 8% annually, a study be Associated Chamber of Commerce and Industry (ASSOCHAM) has claimed. Changing lifestyle and rising health awareness is expected to boost Indian market too and the country’s nutraceutical market is likely to cross $6.1 billion by 2020 from the current level of $2.8 billion growing at the compound annual growth rate of about 17%, said the study titled ‘Indian Nutraceuticals, Herbals, and Functional Foods Industry: Emerging on Global Map’. Experts feel that even though there is a huge development scope, few challenges are hindering growth of the Indian Nutraceutical Industry. “India is having ...
