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The global nutraceuticals industry is experiencing unprecedented growth, driven by increasing consumer awareness of health and wellness, a shift towards preventive healthcare, and an aging population keen on maintaining vitality. Nutraceuticals are products derived from food sources. They come with additional health benefits and span dietary supplements, functional foods, and beverages.

A booming global market

According to Vision Research Reports, the global nutraceuticals market, valued at USD 712.98 billion in 2023, is projected to reach approximately USD 1,601.67 billion by 2033, expanding at a compound annual growth rate (CAGR) of 8.43%. The industry’s surge is fuelled by rising disposable incomes, technological advancements, and consumer demand for natural health solutions.

Asia-Pacific leads the market, accounting for over 37% of global revenue in 2023. The region is expected to grow at a CAGR of 9.83% until 2033, driven by heightened health consciousness and increased spending power. North America, with a 40% market share, remains a dominant force, while Europe is seeing strong traction, particularly in organic and functional products.

India: An emerging powerhouse

India’s nutraceutical market, estimated at USD 30.37 billion in 2024, is set to expand at an impressive CAGR of 13.6% through 2030, according to Grand View Research. Growth factors include a rising preference for preventive healthcare, increasing lifestyle-related disorders, and government initiatives aimed at reducing healthcare costs.

Key market trends and challenges

The sector is evolving with personalised nutrition, advances in genomics and microbiome research, and a surge in plant-based and organic products. Meanwhile, e-commerce expansion is helping brands reach new customers with tailored recommendations.

However, regulatory hurdles, quality assurance concerns, and consumer scepticism remain challenges. In India, discussions are ongoing to bring nutraceuticals under the Central Drugs Standards Control Organisation (CDSCO) for improved standardisation.

Outlook

Despite these challenges, the industry’s future looks promising. Companies that focus on innovation, quality, and compliance are set to capitalise on increasing health awareness, cementing nutraceuticals as a crucial component of modern healthcare solutions. “This sector requires significant attention from the government because it can provide value addition to growers," Subrata Gupta, Secretary, Union Ministry of Food Processing Industries, told an industry event in Mumbai recently.

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