Rise in health awareness to take Indian nutraceuticals market to USD8.5 bn by 2022
19-Apr-17, Business Standard
Indian nutraceuticals market is expected to reach USD8.5 bn by 2022 from USD2.8 bn in 2015, according to a study jointly undertaken by Assocham and RNCOS.
%20Business%20Standard_Shutter%20Stock.jpg "Rise in health awareness to take Indian nutraceuticals market to USD8 5 bn by 2022 (c) Business Standard Shutter Stock")
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While dietary supplements segment accounted for 65 percent of Indian nutraceuticals market in 2015, the remaining 35 percent was occupied by functional food & beverages. Functional food & beverages are expected to grow with a higher growth rate due to the increasing visibility of such products in modern retail formats and promotional activities through TV advertisements.
Rising knowledge about wellness and health along with inclining expenditure on food has increased the number of consumers accepting functional foods & beverages.