The Nutraceutical Market: Comprehensive Insights Into India And The Global Landscape

Nutraceuticals are booming in India and globally, driven by a shift to preventive health. The market is projected to exceed $18B by 2025 in India.

Dr Sanjay Agrawal

Source : https://drsanjayagrawal.in/

By Dr Sanjay Agrawal
Scientific Advisor at ALKOMEX GBN PHARMA GROUP U.S.A.

The nutraceutical industry has become a beacon of health and wellness in the modern era. With its roots in preventive healthcare, this dynamic sector combines the best of nutrition and pharmaceuticals, offering products designed to boost overall health, prevent chronic diseases, and improve life quality. The market has witnessed tremendous growth globally and in India, driven by increasing consumer awareness, rising disposable incomes, and advancements in science and technology.

This article explores the nutraceutical industry's global and Indian outlook, and also tries to highlight the role of methylcobalamin (a key nutraceutical ingredient) in clinical practice. It also provides an insight into its market size, consumption trends, and growth opportunities.

Understanding Nutraceuticals: A Detailed Exploration
Nutraceuticals, a fusion of "nutrition" and "pharmaceutical," represent a significant advancement in health and wellness. These products are derived from natural food sources and offer additional health benefits that go beyond fulfilling basic nutritional needs. The primary purpose of nutraceuticals is to improve well-being, prevent diseases, and complement modern medical therapies.

Health Canada defines nutraceutical as: a product isolated or purified from foods, and generally sold in medicinal forms not usually associated with food and demonstrated to have a physiological benefit or provide protection against chronic disease. Nutraceuticals may be used to improve health, delay the aging process, prevent chronic diseases, increase life expectancy, or support the structure or function of the body. Nutraceuticals are supplements which are used for health purposes other than nutrition.

As health-conscious lifestyles and preventive healthcare gain prominence, nutraceuticals have emerged as a preferred choice for individuals looking to bridge nutritional gaps or manage specific health conditions without relying solely on medications.

Key Categories of Nutraceuticals

1. Dietary Supplements:
A dietary supplement is a product intended for ingestion that contains a “dietary ingredient” intended to add further nutritional value to the diet. Examples include Vitamins, Minerals, Amino Acids, protein supplements, and herbal supplements.
- Examples: Multivitamins, omega-3 capsules, or calcium supplements.
- Purpose: To address nutrient deficiencies, support immunity, enhance cognitive function, and maintain general health.

2. Functional Foods:
Functional foods are conventional food items enriched with additional nutrients or bioactive components that provide specific health benefits.
- Examples: Fortified cereals with added iron, probiotic yogurt for gut health, plant-based milk fortified with calcium and Vitamin D.
- Purpose: To enhance nutrition and promote health, while seamlessly integrating into daily diets.

3. Medical Foods:
Medical foods are specially formulated products consumed under medical supervision to manage diseases or specific health conditions.
- Examples: Low-protein foods for patients with chronic kidney disease, high-calorie nutritional drinks for individuals undergoing chemotherapy.
- Purpose: To cater to individuals with unique dietary needs due to specific medical conditions.

Key Drivers of Growth in the Nutraceutical Market
1. Rising Awareness of Preventive Healthcare
2. Increasing Prevalence of Lifestyle Diseases
3. Advancements in Research and Innovation

Benefits of Nutraceuticals:
1. Convenience
2. Preventive Care
3. Natural Solutions
4. Support for Specific Health Conditions
5. Complement Modern Medicines

Challenges in the Nutraceutical Landscape:
1. Regulatory Variability
2. Consumer Skepticism
3. Cost Factors
4. Acceptance by Medical Fraternity

Global Nutraceutical Market Overview:
- Valued at USD 400 billion in 2024; projected to reach USD 650 billion by 2030 at CAGR of 8%.
- Leading regions: North America, Asia-Pacific, and Europe.

Nutraceutical Market in India:
- Market grew from INR 260 billion (USD 3.2 billion) in 2017 to INR 650 billion (USD 8 billion) in 2022.
- Forecast to exceed USD 18 billion by 2025.

Composition:
- Vitamins and Minerals: 30%+ share.
- Herbal and Ayurvedic Products: Rising due to tradition.
- Probiotics and Omega-3s: Popular for gut and heart health.

Spotlight on Methylcobalamin (Vitamin B12):
- Key physiological roles: RBC production, nervous system, DNA synthesis, metabolism.
- Market: Global Vitamin B12 valued at USD 194.3 million in 2023, projected to reach USD 346.6 million by 2032 (CAGR 6.8%).
- Indian Market: B-complex vitamins market worth USD 281 million (2020).

Opportunities and Future Trends:
1. Personalised Nutrition
2. Plant-Based Products
3. E-commerce Growth
4. Biotechnology Innovations

Conclusion:
The nutraceutical market stands at the crossroads of innovation and necessity. With rising demand for products like methylcobalamin, the industry is poised for further growth. By addressing challenges and leveraging opportunities, the nutraceutical market will continue to thrive, contributing to the collective well-being of society.

References:
1. India's Nutraceutical Market Growth - Food Processing Industry in India.
2. Vitamin B12 Market Size - Fortune Business Insights.
3. Nutraceutical Market in India - Statista.
4. Global Nutraceutical Trends - Nuffoods Spectrum.
5. Methylcobalamin: The Essential Vitamin B12.

(The author is the Scientific Advisor at ALKOMEX GBN PHARMA GROUP U.S.A.)

[Disclaimer: The information provided in the article, including treatment suggestions shared by doctors, is intended for general informational purposes only. It is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified healthcare provider with any questions you may have regarding a medical condition.]