India Plant Based Nutraceuticals Market to Grow at a CAGR of 15% in the Forecast Period of 2024-2032, Aided by Increasing Demand from Healthy Foods and the Medical Benefits

People have embraced a healthy and plant-based diet as a result of the pandemic's devastating effects, which includes consuming fresh green vegetables, seasonal fruits, whole grains, nuts, and other superfoods, to achieve their daily nutritional requirement. There is also an increase in the consumption of immunity-boosting foods, which is boosting the growth of plant-based nutraceuticals in India. The consumer base is increasingly turning to nutraceuticals for losing weight, or to make their hair grow better, or to get glowing skin. Toddlers are generally hesitant to eat nutritious food, which often leads to deficiency disorders. Thus, parents are resorting to easily chewable nutraceutical products available in different shapes and flavours, such as gummies, to meet their child’s health needs, thus augmenting the growth of plant-based nutraceuticals. The rising obesity, cardiovascular disease, and obesity disease are expected to lead the nutraceutical industry in the forecast period. The growing preference for personalised nutrition is one of the key nutraceuticals market trends, which may further stimulate market growth. The trend of personalised nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective. High adoption rates for herbal medicines across the globe on account of the rising concerns regarding hazardous effects of conventional pharma drugs are expected to expand the market size over the forecast period.

From manufacturers to retailers, companies across the food value chain are already investing in these prospects. Some corporations are hedging against or planning for the drop in demand for animal products by investing in alternative producers. Danone (EPA:BN) announced the commercial release of its Vega One plant-based protein products in China in May 2020, with the Vega One Sport specifically developed for athletes. Pumpkin seeds, alfalfa, sunflower seeds, and peas are among the protein sources in this dish.

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Market Analysis by Type, Dietary Supplements Type, Forms, and Age Group:

• Based on type, the market is categorised into functional food and beverage and dietary supplements.
• The types of dietary supplements are vitamin supplements, proteins supplements, calcium and minerals supplements, enzymes and fatty acids supplements, and organ detox supplements, among others.
• The major forms of the product include capsule, tablet, liquid, among others.
• Based on age group, the market is divided into adults and kids.

Key Findings of the Report:

• Growing awareness about health and fitness among people is augmenting the growth of plant-based nutraceuticals market in India.
• Dietary fibres and minerals are likely to have a high demand owing to the increasing awareness regarding their health benefits.
• Rapid urbanisation and increasing western influence are further boosting the growth of the market.
• The growing middle-class population and inflating income levels of consumers are expected to boost the demand for plant-based nutraceuticals in India.

Key Offerings of the Report:

• The EMR report gives an overview of the India plant-based nutraceuticals market industry for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for type, dietary supplements type, forms, and age group of plant-based nutraceuticals.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indian plant-based nutraceuticals industry include Zywie Ventures Private Limited. (Oziva), Organic India, Satiya Nutraceuticals (Plix), and Arbro Pharmaceuticals Private Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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