India Pharmaceutical Market: Driving Forces and Disruptive Trends [2028]

Posted by Kumar on July 11th, 2024

Industry Overview

According to the TechSci Research report, "India Dietary Supplements Market - By Region, Competition, Forecast and Opportunities, 2029," the Indian dietary supplements market is anticipated to grow at an impressive rate in the forecast period. The rising demand for nutraceuticals with medical benefits such as managing health issues like obesity, cardiovascular disease, cancer, cholesterol, arthritis, and diabetes, along with a growing preference for personalized nutrition among people facing gut-related issues, will drive the market's expansion across the region. Additionally, rapid advances in science and technology, increasing healthcare costs, changes in food laws affecting label and product claims, a burgeoning aging population, and rising interest in attaining wellness through diet will further escalate the growth of India's dietary supplements market in the coming years. Besides, the emergence of new plant-based proteins such as soy, spirulina, pea, and hemp will also support market growth.

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However, the regulation of dietary supplements in India is complex, with strict regulations on health claims that can be made, potentially slowing down market growth. Additionally, misinformation about dietary supplements can lead to consumer confusion, further hampering growth during the forecast period. Dietary supplements often require long-term treatment, and non-adherence can lead to poor health outcomes. Patients may stop taking medications due to side effects, cost, or other reasons. While many dietary supplements are safe when taken as directed, there are risks associated with their use, such as interactions with other medications, which can further restrict market growth.

Industry Key Highlights

• Rapid advances in science and technology.
• Increasing healthcare costs.
• Changes in food laws affecting label and product claims.
• A burgeoning aging population.
• Rising interest in attaining wellness through diet.
• Emergence of new plant-based proteins.

Emerging Trends and Drivers

Rising Health Awareness and Nutritional Deficiencies

The growth of the nutritional supplement market in India is driven by increasing health awareness and the lack of a nutritional diet. The Indian population is witnessing a decline in nutrients from daily diets, adversely impacting health. The lack of nutrition is contributing to the rise of diseases such as anemia and obesity in the country. For instance, according to the National Family Health Survey (NFHS-5) 2019-21, 57.0% of women and 25.0% of men aged between 15 and 49 were anemic in India. These rising health conditions due to nutritional deficiencies are expected to drive market growth.

Increasing Income Levels

The increasing income levels in the country are contributing to a better quality of life, leading to higher spending on personal health and, consequently, dietary supplements. According to the Ministry of Statistics & Programme Implementation, the per capita Net National Income (NNI) reached USD 2,071 in 2022-23 from USD 1,043 in 2014-15. These rising income levels are increasing the affordability of nutritional supplements, thereby contributing to market growth.

Market Segmentation

The Indian dietary supplements market can be segmented by product type, form, distribution channel, application, end user, and region.

By Application

Based on application, the market can be segmented into immunity, general health, energy & weight management, bone & joint health, and others. The energy & weight management segment dominated the market in 2022 and is expected to continue its dominance throughout the forecast period. This can be ascribed to the increasing demand for dietary supplements containing proteins and vitamins, widely influenced by sports enthusiasts in the form of nutrition bars, sports nutrition supplements, and energy drinks.

By Distribution Channel

Based on distribution channel, the market can be segmented into pharmacies and drug stores, online, supermarkets and hypermarkets, and others. The supermarkets and hypermarkets segment is expected to dominate during the forecast period due to the rising awareness of dietary supplements and their substantial role in distribution. These large-format retail stores provide a wide range of products, including dietary supplements, under one roof, making it convenient for consumers to purchase them along with regular groceries.

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Top 10 Companies in the Indian Dietary Supplements Market

1. Amway India Enterprises Pvt. Ltd.
2. Herbalife International India Pvt. Ltd.
3. Himalaya Drug Company
4. Dabur India Ltd.
5. Abbott India Ltd.
6. Patanjali Ayurved Ltd.
7. GlaxoSmithKline Consumer Healthcare Ltd.
8. Sun Pharmaceutical Industries Ltd.
9. Piramal Enterprises Ltd.
10. Danone India

Recent Developments

• Dr. Reddy's Laboratories Ltd. acquired MenoLabs, a women's health & dietary supplement portfolio, from Amyris, Inc., to accelerate growth in the women's health and wellness market.
• Oriflame Cosmetics AG launched two health supplements in India: Calcium fortified with vitamin D and magnesium, and Iron Complex to tackle iron deficiency in women.
• Genetic Nutrition, a UK sports supplement brand, launched its high-quality health and wellness segment in India.
• Amway India Enterprises Pvt. Ltd. introduced nutrition supplements in mouth-dissolving jelly strips and favorable gummies under the Nutrilite brand for on-the-go nutrition.
• Nutritional Research Company (NRC) unveiled its Absorbable supplement range aimed at bolstering the immune system.
• IFF launched Verdigel SC, a vegan soft gel capsule technology devoid of carrageenan.
• Imaglow debuted a new product line formulated in therapeutic doses to enhance skin, nail, and hair health.

Competitive Analysis

The Indian dietary supplements market is highly competitive, with several key players striving to increase their market share through new product launches, acquisitions, and expansions. Companies are focusing on innovative product formulations, expanding their distribution networks, and increasing consumer awareness to gain a competitive edge.

Major Competitors

• Amway India Enterprises Pvt. Ltd.: Known for its extensive range of nutraceutical products, Amway has a significant presence in the Indian market, emphasizing quality and research-driven products.
• Herbalife International India Pvt. Ltd.: Herbalife focuses on weight management, sports nutrition, and targeted nutrition products, leveraging a robust network of independent distributors.
• Himalaya Drug Company: With a strong heritage in herbal healthcare, Himalaya offers a range of dietary supplements rooted in Ayurveda.
• Dabur India Ltd.: Dabur, a leader in Ayurveda, has expanded its product portfolio to include various health supplements, capitalizing on its strong brand presence.
• Abbott India Ltd.: Abbott's acquisition strategies and focus on personalized nutrition have strengthened its market position.
• Patanjali Ayurved Ltd.: Patanjali, with its focus on natural and Ayurvedic products, has rapidly gained popularity in the dietary supplements segment.
• GlaxoSmithKline Consumer Healthcare Ltd.: GSK leverages its global expertise to offer scientifically-backed nutritional supplements.
• Sun Pharmaceutical Industries Ltd.: Sun Pharma's diverse product portfolio and strong distribution network enhance its market competitiveness.
• Piramal Enterprises Ltd.: Piramal's focus on innovation and quality drives its growth in the dietary supplements market.
• Danone India: Danone's emphasis on health-focused products and consumer education supports its market expansion.

Future Outlook

The future of the Indian dietary supplements market looks promising, with several factors expected to drive growth:

• Increasing Health Consciousness: As consumers become more health-conscious, the demand for dietary supplements is expected to rise.
• Technological Advancements: Innovations in product formulations and delivery methods will enhance consumer acceptance and market growth.
• Regulatory Support: Simplification of regulatory frameworks could facilitate market expansion.
• Growing Aging Population: The increasing aging population will drive demand for supplements targeting age-related health issues.
• Rising Disposable Incomes: Higher disposable incomes will increase the affordability and consumption of dietary supplements.
• Awareness Campaigns: Increased awareness campaigns about the benefits of dietary supplements will boost market growth.
• Expansion of Distribution Channels: The growth of online and offline distribution channels will make dietary supplements more accessible.
• Focus on Preventive Healthcare: A shift towards preventive healthcare will drive the consumption of dietary supplements.
• Personalized Nutrition: Advances in personalized nutrition will cater to individual health needs, driving market growth.
• Sustainability Trends: The rise of plant-based and sustainable supplements will attract environmentally conscious consumers.

10 Benefits of the Research Report

1. Comprehensive Market Insights: Provides detailed insights into market dynamics, trends, and drivers.
2. Competitive Landscape Analysis: Offers an in-depth analysis of key market players and their strategies.
3. Market Segmentation: Detailed segmentation by product type, form, distribution channel, application, end user, and region.
4. Emerging Trends: Highlights the latest trends and innovations in the dietary supplements market.
5. Future Market Projections: Provides forecasts and opportunities for market growth up to 2029.
6. Regulatory Insights: Discusses regulatory frameworks and their impact on market growth.
7. Consumer Behavior Analysis: Analyzes consumer preferences and purchasing behaviors.
8. Strategic Recommendations: Offers actionable recommendations for stakeholders to capitalize on market opportunities.
9. Investment Opportunities: Identifies potential investment opportunities in the market.
10. Comprehensive Data Analysis: Utilizes extensive data to provide accurate market analysis and projections.

The Indian dietary supplements market is poised for significant growth, driven by rising health awareness, increasing income levels, and advancements in science and technology. Despite regulatory challenges and consumer misinformation, the market's future looks bright with numerous opportunities for growth and innovation. Key players in the market are actively engaging in product innovation, strategic acquisitions, and expansion of distribution networks to stay competitive. The future of the market will be shaped by emerging trends in personalized nutrition, preventive healthcare, and sustainable product development.

“The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, which will contribute to the increasing demand for dietary supplements in India, during the forecast period. Besides, increasing concern about healthy lifestyles and increasing expenditure on health and wellness is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Dietary Supplements Market, By Product Type (Vitamin, Combination Dietary Supplements, Protein, Herbal Supplements, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules, Tablets, Powder, Soft Gels, and Liquid), By Distribution Channel (Pharmacies and Drug Stores, Online, Supermarkets and Hypermarkets, and Others), By Application (Immunity, General Health, Energy & Weight Management, Bone & Joint Health, and Others), By End User (Adults, Geriatric, Pregnant Females, Children, and Infants), By Region, Competition, Forecast and Opportunities, 2029”, has evaluated the future growth potential of India dietary supplements market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India dietary supplements market.

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