Nutraceuticals market in India & exports

The Nutraceuticals market in India is witnessing remarkable growth and has a huge potential.

Here are a few highlights:

🇮🇳 India's nutraceutical market was valued at $4-5 billion in 2019 but is projected to grow over $18 billion by 2025, becoming a global leader.

🇮🇳 The Indian market is expected to account for at least 3.5% of the global nutraceutical market by end of 2023, up from just 2% in 2017.

🇮🇳 The Indian nutraceutical market is forecasted to grow at a robust CAGR of 21% to reach $11 billion by end of 2023 and $18 billion by 2025.

🇮🇳 Currently, India imports nutraceuticals worth $2.7 billion while its exports stand at $1.5 billion.

On the global front:

🌍 The global nutraceutical market was around $247 billion in 2019 and is projected to grow at 7% CAGR to $336 billion by 2024.

🌍 Currently, USA, Japan and Europe account for 90% of the global nutraceuticals market.

Factors fueling growth include rising demand for immunity boosting supplements, preventive healthcare focus after the pandemic, and changing consumer preferences towards flexible dosage forms like gummies.

With increasing consumer interest in health, wellness and preventive healthcare worldwide, the nutraceutical industry presents immense opportunities for manufacturers and marketers in India and globally.

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