India’s nutraceutical market likely to nearly double to $55–57 billion by 2030

New Delhi, June 26 (IANS) India’s nutraceutical market, valued at around $29–30 billion in 2024, is projected to reach $37–38 billion by 2026 and $55–57 billion by 2030, at a CAGR of approximately 10.5 per cent, a report said on Friday.

The growth is being driven by rising health consciousness, higher disposable incomes, increasing lifestyle-related disorders, and demand for natural, science-backed nutrition, the report from CareEdge Ratings said.

The Indian healthcare landscape has shifted from diagnosing and treating illness, to prevention, wellness, and long-term health management. At the heart of this transition lies the rapidly expanding field of nutraceutical products that bridge the gap between nutrition and pharmaceuticals.

The nutraceutical industry in India is witnessing rapid growth, supported by rising health awareness among consumers, increasing concerns around lifestyle diseases and lack of adequate nutrition.

The growth is fuelled by the expansion of digital platforms and e-commerce, along with supportive government policies and initiatives. India’s strong bio-agricultural base, with its diverse crops, provides a natural advantage for raw material sourcing.

The pandemic marked a structural turning point, shifting nutraceuticals from niche wellness products to everyday dietary support and prompting larger FMCG players to acquire mid‑sized brands, the report noted.

Government support is playing a crucial role in enabling the growth of the nutraceutical sector through improved regulatory frameworks, standardisation, and quality control measures.

Food Safety and Standards Authority of India (FSSAI) and the Ministry of Food Processing Industries (MoFPI) have undertaken several initiatives to strengthen compliance, promote food safety, and encourage innovation in functional foods and dietary supplements.

“The Indian nutraceutical industry is set for sustained long-term growth, driven by rising health awareness, persistent malnutrition, supportive government policies, increasing adoption of preventive healthcare, and evolving lifestyle trends”, said Uday Kumar, lead analyst at CareEdge Ratings.

Despite strong growth, the nutraceutical industry continues to face challenges related to evolving regulatory frameworks, consumer awareness gaps, misleading product claims, and limited scientific validation for certain products, the report noted.

–IANS

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