Dietary Supplements - Lets understand the growth ahead!

Dietary Supplements - Meaning, Demand and need in future

Increase demand for Dietary Supplements and Nutraceuticals

India might be a late entrant in the health supplement game, but COVID-19 has brought a renewed focus on healthy lifestyle habits and diet, which is expected to further boost the adoption of preventive healthcare solutions.

The growing social media penetration and vernacular content platforms have also broadened the healthcare horizon for Indians. In the end, a win-win for all - For companies, this segment provides a great combination of growth, profitability, IPR-driven competitive moats, and long-term consumer franchise. Consumers benefit from better health and living, and society in general from a reduced healthcare burden.

Dietary supplements

Dietary supplements are products taken in addition to a healthy diet to provide additional health benefits, such as additional nutrients. A dietary supplement is a product designed to complement the diet and contains one or more of the following nutritious elements, (DSHEA) according to the Dietary Supplement Health.

Supplements consist of herb, mineral, vitamin,s or other botanical, amino acids, as well as their concentrations, components, extracts, or metabolites. Dietary processing includes intake, digestion, absorption, distribution, and excretion of food and beverages.

Nutraceuticals

A nutraceutical is a substance that is regarded as a food or a portion of a food that, in addition to its regular nutritional content, provides health advantages such as disease prevention or promotion is any non-toxic dietary component that has been proven to be beneficial to one's health in a scientific study. It includes disease treatment or prevention. The functional component of the food must be standardized and manufactured in the nutraceutical product.

Key Drivers for the growth 

Vitamins and Dietary Supplements cover 26% of the nutraceuticals market worldwide. They are used as a diet aid for specific needs, from disease-related to sports needs.

The market demand for Vitamins and Dietary Supplements is driven by

• Increasing attention to health and prevention by the consumers

• Greater customization of needs for different segments of the population

• Increased health care costs and search for alternatives to cure specific problems

• The growth in demand for supplements is mainly driven by probiotic supplements, Fatty Acids (i.e. fish oils), and protein supplements

• Herbal/Botanical Supplements usage has emerged as a popular complementary and alternative medicine or supplement to modern medicine

• Rising consumer awareness regarding the severity of digestive disorders, stimulates the growth of the Enzymes segment

Use of Dietary supplements

Multivitamins were the most used supplement from 2010 to 2021, with 60% of men and women reporting that they use one every day. Between 2003 and 2021, 61% of women over 60 took calcium supplements, up from 28 percent in the previous survey.

Calcium is required for bone health and the prevention of osteoporosis, a brittle bone disease. The use of folic acid supplements remained steady between the two polls. Folic acid is thought to protect women of reproductive age against neural tube birth defects. Folate is found in a variety of foods, including green leafy vegetables, beans, and legumes (a natural form of folic acid). Many breads, cereals, flours, maize meals, pasta, rice, and other foods now include folic acid.

Rising Trend for Dietary Supplements

Trends in consumer preferences

• Growing awareness among consumers of the importance of well-being and prevention

• Increased nutrition needs related to sports and athletic activities, for the improvement of performance

• Sophistication of consumer needs in terms of specific health needs

Factors in the development of the demand

• Progressive aging of the world population and consequent growth of specific health needs 

• Habits and lifestyles that are harmful to health lead to an increase in the need to supplement one's diet 

• Increase in healthcare costs and search for alternative methods of treatment.

The Indian Dietary Supplement Market is controlled by several major players, like

Abbott India Limited, 

Laurus labs,

Herbalife International India Pvt. Ltd., 

Amway India Enterprises Pvt. Ltd., 

Dabur India Limited, 

Danone Nutricia International Pvt. Ltd., 

Himalaya Drug Company, 

GlaxoSmithKline Consumer Healthcare Ltd., 

Sun Pharmaceutical Industries Ltd., 

Kraft Heinz India Pvt. Ltd.,

Patanjali Ayurved Limited, and others.

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