Reflecting what has been seen in America and other parts of the world, the market for nutritional ingredients formulated in supplements, foods and beverages is experiencing a decent 12- to 15-percent growth in India. The uptick appears to be due to factors cited by other regions, including increased awareness of preventive health benefits, an aging population, rising medical costs, higher spending power and prevalence of malnutrition-based diseases—diabetes, cholesterol, heart ailments and arthritis.
Vitamins, antioxidants, minerals, herbals/ botanicals, proteins and fiber lead the growth spurt, and functional products appear to be a big area of potential in India. Companies leading the way in this Indian market include Sami Labs, British Biologicals, Parrys India, Elder Pharma, Ranbaxy, Raptakos, Paras, Ce Chem and Tablets India, although several global pharmaceutical companies are dabbling also in India’s nutraceutical market. Companies competing in this market are finding a competitive edge in the areas of branding, pricing, promotional activities and channel partners.
