India Dietary Supplements Market Size Zooming 2.6X at Robust CAGR of 14.7% to Touch USD 13.1 Billion by 2029
India dietary supplements market is flourishing because of the growing focus on the management and prevention of chronic illnesses and lifestyle diseases, such as diabetes, heart ailments, and cancer, and awareness about the significance of maintaining good health and proper nutrition.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India dietary supplements market size at USD 5.01 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India dietary supplements market size to grow at a robust CAGR of 14.7% reaching a value of USD 13.09 billion by 2029. Major growth drivers for the India dietary supplements market include the growing consumer awareness about preventive healthcare, increasing purchasing power and rising cases of lifestyle diseases, such as obesity, blood pressure, diabetes, and malnutrition. In addition, the adoption of aggressive marketing and promotional strategies for the promotion of dietary supplement is expected to positively influence the growth of the market. Consumers are increasingly shifting towards preventive healthcare. India has one of the highest diabetes cases in the world and it is expected that over 80 million people will be diabetic in the country during the forecast period. Consumers are now getting increasingly aware about excessive use of chemicals and their side effects and opting for dietary supplements. This changing trend would boost the country's dietary supplement market. However, high cost of dietary supplements and lack of awareness about the benefits of dietary supplements are anticipated to restrain the overall market growth during the forecast period.
India Dietary Supplements Market – Overview
A dietary supplement is a product containing essential nutrients, which can be derived from natural food sources or synthesized artificially. These supplements primarily serve the purpose of meeting the nutritional needs of the human body and are typically consumed in various forms, such as pills, capsules, tablets, or liquids. They can offer nutritional support individually or in combination, tailored to the specific requirements of the consumer. These supplements encompass a wide range of components including vitamins, minerals, herbs, enzymes, amino acids, and various other elements. The primary objective of supplement consumption is to address nutritional deficiencies in the body, thereby aiding in the prevention of diseases and lifestyle-related health issues.
Impact of COVID-19 on India Dietary Supplements Market
Covid-19 pandemic had a positive impact on the India dietary supplements market. As the virus spread, there was a heightened awareness of health and immunity among consumers. This led to increased demand for dietary supplements as people sought ways to boost their overall well-being. The pandemic accelerated the adoption of dietary supplements as a preventive measure, driving growth in categories like vitamins, minerals, and immune-boosting supplements. E-commerce platforms became a preferred channel for purchasing supplements due to social distancing measures. While the market witnessed growth, regulatory scrutiny also increased to ensure product safety and quality. Overall, COVID-19 reshaped consumer behavior and fueled the dietary supplements market in India
India Dietary Supplements Market – By Distribution Channel
Based on distribution channel, the India dietary supplements market is divided into Pharmacy, Supermarket/Hypermarket, and Online segments. The pharmacy segment holds the highest share in the India dietary supplements market by distribution channel. Pharmacies are trusted sources for health-related products, including dietary supplements, where consumers can seek guidance from pharmacists. Moreover, India's vast network of pharmacies ensures widespread availability of these supplements, making them easily accessible to a wide population. As consumers increasingly prioritize health and wellness, they turn to pharmacies for reliable and safe dietary supplements. Additionally, the pharmacy channel often stocks a diverse range of supplements, catering to various health needs, reinforcing its dominant position in the Indian dietary supplements market.
Major players operating in the India dietary supplements market include Amway India Enterprises Private Limited, Herbalife International India Private Limited, Dabur India Limited, The Himalaya Drug Company, Abbott India Limited, Kraft Heinz India Pvt Ltd, Sun Pharmaceutical Industries Limited, GlaxoSmithKline Consumer Healthcare Limited, Danone Nutricia International Private Limited, and Patanjali Ayurved Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Dietary Supplements Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Dietary Supplements Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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