The nutraceutical sector has always been present in the market and has been running for a long time. Having its roots deep within Ayurveda and science, nutraceuticals have been a choice for the consumers for a healthy lifestyle. Initially this sector and the products were taken as a curative cure and was seen specifically for those who are indulging in heavy workout sessions and diets. But as time has changed and we are facing many critical health issues, this perception towards the sector has completely changed.
Once considered a curative cure, the sector and its products are now being consumed as a way of preventive cure. This change started last year when the pandemic hit the world, taking everybody through a rush of worry. This worry has now become a big concern which led people in search of ways to boost their immunity to fight against the virus. This wave of awareness among people and the arising need to stay fit has brought tremendous growth to the sector of nutraceuticals. Since the pandemic, people are consuming more supplements to make sure they are taking all the necessary nutrients that their body needs to keep it healthy.
Parents who often struggle to make their small kids eat all the green leafy vegetables are now opting for the chewable nutritious supplements which are available in different shapes and flavors to appeal the young little consumers. Given these changes in the lifestyle requirements, the Nutraceutical sector is expected to see exponential growth till the end of 2025 as it has been growing at a steady pace of 17%. In the sector, almost 65% market is of dietary supplements that are being consumed a lot especially in the time of pandemic to stay healthy due to the renewed attention on the preventive healthcare measures.
Due to the awareness among people, related to boosting their immunity and eating healthy, consumer behavior and the buying pattern has seen a major shift. Many people are now buying various healthcare products available as vitamin capsules, gummies, and chewable tablets or strips. The supplements dominating the demands are Vitamin C and Zinc supplements as these are prescribed by the doctors for those who have been caught by the virus. So, to avoid the effect of the virus, people are consuming these beforehand to strengthen their system.
The sector is showing great potential in turning into a necessity from just a choice in the economy. Given this, even though the effect of the pandemic has cooled down to a certain bit, these supplements will become an integral part of people’s everyday life as they will continue to consume them, not wanting to show any leniency towards their health given the situation and risks involved with it.
So, given all the facts and information, we can say that the nutraceutical sector is being driven due to the following factors:
1. The change in consumer preferences: For better health, people are now relying more on the available nutrition supplements and other forms available.
2. Now, as per the trend, the nutraceutical is seen crossing the bar of age groups as it is being considered for all age groups. From children to old-aged people, everybody is consuming nutraceuticals in various forms suitable for their age based on the ease of consumption
To conclude, we can say that the sector of nutraceuticals is ready to see a big and significant growth in the upcoming days. It will grow rapidly as per the estimates and it is said that itwon’t be surprising if it surpasses the old and strongly established industry of pharmaceuticals in the coming days due to its growing demand in the market.
Nihaal Mariwala, Founder & CEO, Setu India
(DISCLAIMER: The views expressed are solely of the author and ETHealthworld.com does not necessarily subscribe to it. ETHealthworld.com shall not be responsible for any damage caused to any person/organisation directly or indirectly.)