India, the fastest growing economy in the world, houses over 1.3 billion people and as per the UN is forecasted to become the most populated country by 2024. With the growing population, India, a developing country faces challenges to ensure that there is not only adequate food supply but it also meets the required nutrition levels.
The Government of India has accorded the highest priority to combat malnutrition and improve the health quotient of Indians. Ensuring safe and nutritious food for such a large consumer base on a pan-India basis calls for massive outreach efforts and the industry players are also playing a critical role in enabling a healthier India. While the Global Nutraceuticals market is growing at a CAGR of 6.5%, as per the Drug Marketing and Manufacturing Association, the Indian nutraceuticals market is growing at a much faster rate of 16%.
All 3 segments of the Indian health supplements and nutraceuticals market i.e. fortified / functional packaged food, dietary supplements and functional beverages are registering a double digit growth. The publication titled ‘Health supplements and nutraceuticals – Enabling a Healthier India’ showcases why India is and continues to be a critical destination for the global players to invest.
The report provides an overview of the Indian Health Supplements and Nutraceuticals market in India as well as the key demand drivers and supply side drivers which evidence its potential for existing as well as new global players to do business in India. The report also includes a regulation governing this sector in India such as the FSSAI regulations on Health supplements and nutraceuticals, foreign direct investment laws, key mercantile laws, direct and indirect tax laws. It was released at the World Food India 2017 held from 3 - 5 November at New Delhi.