Nutraceuticals are the products used as a delicious alternative for medicines. A nutraceutical product safeguards a person from chronic diseases by working from inside and building strength composed of ingredients rich in vitamins, minerals, fibre and other complementing nutrients. These products improve health, delay ageing, and support body function.

Nutraceutical products have been ruling the health market due to their potential nutritional, safety and therapeutic effects.

Globally, nutraceuticals are becoming a name to reckon with as they easily become part of a consumer’s daily life. Consumers in the developed countries have made supplements a part of their diet to buckle up their immune system and make way for healthy living.

This is the result of awareness among the consumers. They have understood that the major risk factor for a majority of chronic diseases is poor nutrition. This educated lot is persuaded to take an active role in preventing illness through proper nutrition.

According to a market report for the year2020, the global market for nutraceuticals is worth about US$233.9 billion and is projected to reach US$358.5 billion by 2027. After North America, Japan and China are the next largest nutraceuticals consumers. Together, they make up about 78% of the total market in the Asia Pacific region.

Likewise, the growth of India’s nutraceuticals market is projected to reach Rs 1.54 lakh crore by 2025. Currently, the Indian market imports more than it exports; US$1.5 billion in exports and importing US $2.7 billion worth of nutraceuticals. The market is expected to grow at a significant 22% CAGR by 2023.

Trends favouring the nutraceutical industry in 2021

1. Rise in diseases
Hunger isn’t a problem now but obesity is. With the COVID pandemic devastating lives and people working from home, the problem of obesity is increasing. Another factor of growing obesity is globalisation and urbanisation in developing countries like India resulting in increased cases of chronic diseases such as obesity, allergies, Alzheimers and non-communicable diseases like cancer, diabetes, lung disorders and heart ailments.

The trigger here is poor nutrition which the nutraceutical market is working on effectively. The increase in cases of obesity has driven demand for nutraceuticals across the globe.

2. Rising healthcare costs
Consumers are now following the philosophy of “Prevention is better than cure”. They want to improve their health without paying for medical treatments and so are opting for nutraceuticals to help them. Health-conscious consumers are increasing and they are actively relying their trust on over the counter medications.

As Millennials are moving further along their career, they’re increasingly spending money on creating a healthy lifestyle and making more sustainable choices that will pave results in the long run.

3. Dropping trust in conventional medicine
The trust of people is shifting from traditional medicines to nutraceutical methods of medication. Nutraceuticals being the more natural alternative is the need of the hour for all the consumers in India. Adding to this, nutraceutical products come in innovative forms like gummies, bars, nuts, powder, etc. making consumers fall in love with the taste while meeting the nutritional needs. As per consumer behaviour, popping bland pills was never preferred by anyone. Consumers prefer convenience over anything and that’s what nutraceutical products deliver.

The Blooming Nutraceutical Industry
Personal health has been the focused concern for the general public as the Covid-19 pandemic has raged, positioning the nutraceuticals industry for further expansion and success in 2021. Undoubtedly, the nutraceutical industry has room for growth, especially as we face an ageing population, rising healthcare costs and burst outs of COVID 19 cases. Manufacturers, distributors and wholesalers in the nutraceutical industry need to understand the drivers of nutraceutical industry growth if they want to continue to thrive and make a mark in the industry.

About Author

Divij Bajaj, Founder & CEO – Power Gummies(Aesthetic Nutrition Pvt Ltd)Divij Bajaj is an MBA and alumni of KMC College, University of Delhi, who dared to transform his dreams into reality against all odds. Today, his nutraceutical start-up is a market leader in its segment. Divij has won prestigious award like 30 under 30 of India 2021 Entrepreneur of the year 2020.

Having spent a considerable part of his career in the lifestyle and education sectors, serial entrepreneur Divij then shifted focus to nutraceuticals. He founded Power Gummies in November 2018, advocating the mantra of “Health Powered by Happiness and backed by Science”.

Promoting the concept of beauty from within, Divij consciously decided to ensure the products were vegan, gluten-free, gelatin-free and crafted cruelty- free. The idea – making health fun for all.

His leadership and market foresight helped carve a brand niche, introducing the global trend of tasty chewable gummy vitamins in the Indian market. Within six months of commercial launch, Power Gummies ranked amongst the top three sellers across all categories on the Amazon Launchpad.

Power Gummies’ brand advocacy was soon prominent among celebrities, influencers and the public, establishing a community of beauty and wellness loyalists who continue to support the brand to date. Since its inception, it has sold more than two million Gummies and been recognized as the Top Start-up to Watch in 2020 by INC42, followed by the Most Innovative Product 2020 by Mint Business.

After the first variant’s massive success, Divij turned his focus to the fitness and health supplement industry, with ‘The Beach Body’ Gummies that help in fat burn and weight management by boosting the body’s metabolism rate and speeding the fat-burning process. These sugar-free Gummies are infused with the goodness of green coffee, amongst other healthy ingredients. Company is soon launching third variant for period pain relief and menstrual health.

Early in 2020, Aesthetic Nutrition Pvt Ltd closed its Pre-Series A funding led by DSG Consumer Partners and VCats. DSGCP works closely with Divij and his new product development team to design, develop and launch a portfolio of chewable nutritional supplements.

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