Market Research Report
India Dietary Supplement Market, By Product Type, By Form, By Distribution Channel, By Application, By End Use, By Region, Competition Forecast & Opportunities, FY2027
|India Dietary Supplement Market, By Product Type, By Form, By Distribution Channel, By Application, By End Use, By Region, Competition Forecast & Opportunities, FY2027|
Published: June 1, 2021
Content info: 99 Pages
Delivery time: 2-3 business days
India dietary supplement market was valued USD3924.44 million in FY2020 and is predicted to grow over a CAGR of 16% until FY2027. Growth in the market can be attributed to growing consumer awareness about preventive healthcare, increasing purchasing power, and rising cases of lifestyle diseases such as obesity, blood pressure, diabetes, malnutrition, etc. In addition, the adoption of aggressive marketing & promotional strategies for the promotion of dietary supplements 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 anticipated that over 80 million people will be diabetic in the country by 2030F. Consumers are now getting increasingly aware of the excessive use of chemicals and their side effects. Food supplements with nutritious and natural ingredients are becoming increasingly popular among consumers. This is due to the customers' understanding of the importance of eating healthy food and a growing concern for the environment. As a result, a majority of dietary supplement manufacturers are emphasizing on the use of organic/ecological or renewable ingredients. Moreover, consumer spending on luxury goods has risen as per capita disposable income has increased. Due to the increased discretionary income, middle-income consumers are spending more on dietary supplements. Furthermore, dietary supplements are manufactured by a growing number of trusted companies in India, with accredited statements, as a result of which a rising number of customers have started using dietary supplements.
Another factor that contributes to the India dietary supplement market is the busy lifestyle of people. People with hectic lifestyles are unable to sustain a healthy diet, and as a result, they turn to dietary supplements to meet their nutritional needs. Dietary supplements are common among people who lead busy lives because they are easy to transport, can be consumed on-the-go, and aid the prevention of nutritional deficiencies.
India dietary supplement market is segmented into product type, form, distribution channel, application, end use and region. Based on product type, the India dietary supplement market is divided into vitamin, combination dietary supplement, herbal supplement, fish oil & omega fatty acid, protein & other. Among these, the vitamin dietary supplement segment holds the major share in the market in FY2021, due to the fact that vitamin & mineral dietary supplements contain a variety of micronutrients, water-soluble & fat-soluble vitamins that help the body to function smoothly and improve mental health as well. Based on distribution channel, pharmacies and drug stores hold the highest market share as the government licenses them to sell drugs and dietary supplements as prescribed by doctors or healthcare professionals.
India dietary supplement market is controlled by several major players, including Dabur India Limited, Herbalife International India Pvt. Ltd., Amway India Enterprises Pvt. Ltd., Himalaya Drug Company, Abbott India Limited, among others. Companies operating in the market are investing in R&D and launching new products to retain their share in the competitive market.
Years considered for this report:
Historical Years: FY2016-FY2019
Base Year: FY2020
Estimated Year: FY2021E
Forecast Period: FY2022F-FY2027F
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of dietary supplement manufacturers and suppliers in India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels, and regional presence of all major dietary supplement suppliers across the country.
TechSci Research calculated the size for India dietary supplement market using a bottom-up approach, where manufacturers' value shares data for standard types were recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as directories, databases such as Central Statistical Office of India, Ministry of Statistics & Programme Implementation, FSSAI, Company Annual Reports, World Bank, Industry Magazines, Government databases, News Dailies, Credible Paid Databases, Proprietary Database, White Papers and Investor Presentations were also reviewed by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as dietary supplement manufacturers, distributors and dealers, customers and policy makers. The study would help them to identify which market segments should be targeted over the coming years in order to strategize investments and capitalize on the growth opportunities in the market.
In this report, India dietary supplement market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
Combination Dietary Supplement
Fish Oil & Omega Fatty Acid
Soft Gels/Gel Caps
Pharmacies and Drug Stores
Supermarkets and Hypermarkets
Energy & Weight Management
Bone & Joint Health
Company Profiles: Detailed analysis of the major companies present in India dietary supplement market.
With the given market data, TechSci Research offers customizations according to the company's specific needs. The following customization options are available for the report:
Channel Partner Analysis