Dietary Supplements (Vitamin, Herbal, Probiotic, Omega-3, Protein Supplements) Market in India 2018-2023

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Aug 03, 2018, 14:30 ET

DUBLIN, Aug 3, 2018 /PRNewswire/ --

The "Dietary Supplements (Vitamin, Herbal, Probiotic, Omega-3, Protein Supplements) Market in India 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The nutraceutical and dietary supplements market in India is still at a nascent stage. The nutraceuticals market in India was valued at INR 260 Bn in 2017 and is expected to reach a value of INR 808 Bn by 2023, expanding at a CAGR of ~17%.

Nutraceuticals Market Segmentation

Functional food
Functional beverages
Dietary supplements

Dietary supplements dominate the market with a 65% share and functional food and beverages account for 35% of the overall nutraceuticals market. India currently accounts for ~2% of the global nutraceuticals market.

In India, the urban penetration level of nutraceuticals is around 22.15% and rural penetration is around 6.32%. Urban penetration is more since demand for protein supplements is increasing among the urban youth because of enthusiasm regarding maintaining fitness and building a strong physique. Increase in purchasing power and rising disposable income have prompted Indians to be more conscious about their health and adopt diets that ensure adequate consumption of nutritional supplements.

Indian Dietary Supplements Market Overview

Dietary supplements are products consumed in the form of powder, capsules or liquid, in order to make up for the deficiency caused due to the lack of a balanced diet.

Based on product type, the dietary supplements market is segmented into:

Vitamin
Herbal
Probiotic
Omega-3
Protein Supplements

The dietary supplements market in India is expected to grow CAGR of ~20% from 2015 to 2023.

Vitamins and minerals occupies a larger share of the pie in the Indian dietary supplements market - 40% - followed by the herbal segment contributing 30%, proteins segment contributing 25% and other segments contributing around 5% of the total market.

The vitamin and mineral supplements market comprises around 100 market players. The urban population in India that resides in metro cities predominantly consumes protein supplements.

Cardiac, anti-diabetic, dermatology, vaccines, vitamins, minerals and nutrients are the fastest growing segments in the dietary supplements market.

Vitamin supplements dominate the dietary supplements market in India. Amway India Enterprises Limited is the market leader in the vitamins and dietary supplements segment, with ~33.8% market share, followed by Pfizer Limited, Merk, Bayer, and Abbott. The probiotic drugs and dietary supplements segment is dominated by Dr. Reddy's Laboratories, Tablets India, and USV India.

Key Growth Drivers

Rapid digitization and increase in social media usage have increased awareness regarding nutrition care and improved access to vital information.
Changing lifestyles is increasing the incidence of several diseases such as diabetes, blood pressure, obesity and cardio-vascular problems, among others.
In urban areas, higher income groups are the main consumers of dietary supplements and this will grow at a considerable rate. Moreover, rising health consciousness, rapid growth of the e-commerce market and rising per capita income are driving the growth of the dietary supplements market in India.

Key Challenges

The lack of clear regulatory framework has been a major challenge to the growth of the dietary supplements market in India.
Around 60% of the dietary supplements sold across India are fake, counterfeit, unregistered and unapproved, in addition to being extremely difficult to identify.
In India, protein supplements are priced high, making it quite expensive for consumption on a regular basis by the lower middle class and rural population of the country.

Key Trends

Dietary supplements manufacturers are providing an increasing amount of information to customers to make them aware about their products.
Market players are currently undertaking a number of measures to win customer trust and improve overall quality standards in the industry.
Consumers prefer dosages in the form of capsules since they are easier to swallow and offer more formulation flexibility.
Liquid encapsulation is one of the emerging technologies and it provides superior safeguarding of the ingredients through moisture protection.

Notable Development

In March 2018, Amway Enterprises India Ltd. launched Nutrilite in the herbal segment. The Nutrilite Traditional Herbs range includes Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha and Nutrilite Amalaki, Vibhitaki, and Haritaki.

Companies Featured

Abbott India Ltd.
Amway India Enterprises Pvt. Ltd.
Cadila Healthcare Ltd.
Dabur India Ltd.
GlaxoSmithKline Consumer Healthcare Ltd.
Herbalife International India Pvt. Ltd.
The Himalaya Drug Company
Merck Ltd.
Patanjali Ayurved Ltd.
Sun Pharmaceutical Industries Ltd.

Key Topics Covered

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Dietary supplements market definition and structure

Chapter 4: Global health supplements market

Global nutraceutical market overview
Nutraceutical market size and growth forecast
Global dietary supplements market overview
Dietary supplements market size and growth forecast

Chapter 5: Indian nutraceutical market
5.1. Indian nutraceutical market overview
5.2. Nutraceutical market size and growth forecast
5.3. Nutraceutical market segmentation - Type-wise

Functional food
Functional beverages
Dietary supplement

Chapter 6: Indian dietary supplements market
6.1. Indian dietary supplements market overview
6.2. Dietary supplements market size and growth forecast
6.3. Porter's five force analysis

Chapter 7: Indian dietary supplements market segmentation
7.1. Product-wise

Vitamin and minerals supplements
Herbal supplements
Probiotic supplements
Omega-3 supplements
Protein supplements
Others

7.2. Player-wise

Amway India Enterprises Limited
Pfizer Limited
Others

Chapter 8: Trade Analysis
8.1. Export of dietary supplements

Value-wise
Volume-wise
Country-wise

8.2. Import of dietary supplements

Value-wise
Volume-wise
Country-wise

Chapter 9: Key factors aiding growth of the market

Chapter 10: Key deterrents to the growth of the market

Chapter 11: Key trends

Increasing awareness about dietary supplements by players
Liquid encapsulation technology

Chapter 12: Competitive landscape
12.1. Abbott India Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.2. Amway India Enterprises Private Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.3. Cadila Healthcare Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.4. Dabur India Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.5. GlaxoSmithKline Consumer Healthcare Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.6. Herbalife International India Private Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.7. The Himalaya Drug Company

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.8. Merck Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.9. Patanjali Ayurved Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

12.10. Sun Pharmaceutical Industries Limited

Corporate information
Business description
Products & services
Key people
Financial snapshot (total income, net profit/loss)
Key ratios (public companies)
Business segments, geographic segments (public companies)

Chapter 13: Recent developments

Chapter 14: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/n2h968/dietary?w=5

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