Exploring the booming nutraceuticals market in India and the government's proposed regulatory changes. Discussing popular products, industry challenges, and government plans for sector growth. Join Ditto's team as an Insurance advisor without prior experience.
The Indian nutraceutical market is rapidly growing and projected to reach $18 billion by 2025, driven by factors like sedentary lifestyles, decreased nutrient quality in food, and increased health awareness.
Government regulators are considering stricter controls for nutraceuticals through the drug regulator, CDSCO, to address concerns of unsupervised intake, misleading claims, unsafe products, and substandard labels.
Deep dives
Growing Nutraceuticals Market in India
The Indian Nutraceutical market witnessed rapid growth, reaching a value of $4 billion in 2020 and projected to become an $18 billion industry by 2025. Nutraceuticals, such as melatonin gummies and biotin pills, cater to wellness needs with bioactive agents from plants or herbs. Factors driving the Indian Nutraceutical trend include sedentary lifestyles causing nutritional deficiencies, decreased nutrient quality in food due to farming practices, and increased health awareness spurred by the pandemic.
Regulation Challenges and Oversight Concerns
Despite the surge in Nutraceutical consumption, concerns arise regarding unsupervised intake leading to excess nutrients and potential health risks like cirrhosis or toxic calcium buildup. Government regulators aim to address these issues by considering stricter controls through the country's drug regulator, CDSCO, signaling a potential shift from the current classification of Nutraceuticals as food under FSSAI. Quality concerns were highlighted with surveys revealing misleading claims, unsafe products, and substandard labels, prompting the need for enhanced oversight and regulation in the booming Nutraceutical industry.
In today’s episode for 28th February 2024, we discuss the nutraceuticals market boom in India and why the government wants to change how it’s regulated.
If you're a person who is great at communicating and are enthusiastic to join our team, Ditto is looking to recruit new Insurance advisors. You don't even have to know about Insurance, we'll train you from scratch and you can enjoy working remotely with a great team. If you're interested in this or know someone who is please click this link. https://bit.ly/48WX5za
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode