(PRWEB) September 03, 2013
In 2012, the Indian nutraceuticals market accounted for only about 1% of the global nutraceuticals market. Given the changing demographics of the Indian population and increasing focus on fitness and good health, the nutraceuticals market is being identified as a high potential market in India. According to the report “India Nutraceuticals Market Forecast & Opportunities, 2017,” recently published by TechSci Research, it is estimated that the nutraceuticals market is set to grow beyond USD 4.2 billion revenues by the end of 2017.
“India Nutraceuticals Market Forecast & Opportunities, 2017” report classifies the Indian nutraceuticals market into three submarkets – functional foods, functional beverages, and dietary supplements. According to the findings of the report, while the functional foods segment dominates the market in terms of value, the functional beverages segment is set to experience the highest growth over the next five years. The report highlights the highly fragmented nutraceuticals industry.
“Although a considerable share of the nutraceuticals market in India is still occupied by unorganized players, the market is witnessing increasing investments from the organized sector where the major players are the established pharmaceuticals and FMCG companies,” said Mr. Karan Chechi, Research Director, TechSci Research.
“The dynamics of the market can drastically change as the players are engaged in improving awareness levels amongst the population, developing need-based products and devising appropriate pricing and distribution strategy. Food encapsulation and increasing focus of pharmaceutical companies towards development and promotion of supplements would drive the market over the next five years,” added Mr. Karan Chechi.
“India Nutraceuticals Market Forecast & Opportunities, 2017” has evaluated the future growth potential of India’s nutraceuticals market and provides statistics and information on market structure, consumer behavior trends. The report includes nutraceuticals market projections and demand forecasting. The TechSci Research report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in nutraceuticals market in India.