The Global Trends For The Indian Scenario,"
----DR. AMITA B. KARNIK, DIRECTOR, OPTIMAL NUTRIENTS INDIA.
The growth of the top performing products in the estimated $50-60 billion U.S. dietary supplement market is rising at double-digit rates thanks to increased consumer focus on health, better industry regulation, and trends geared toward greater globalization
In the Indian scenario, the A-to-Z nutrients, like multivitamins, will stay as usual in the big box stores as low-growth-rate commodities. Some botanicals that are being sold with nutraceutical labels rather than our Indian traditional Ayurvedic are showing a slow growth if not negative. But there is tremendous consumer interest in probiotics, certified organic cosmetics, life style products, home care and pet care; some of these are easily showing double-digit growth, and some are growing in the 20% to 40% range. Sales in the global nutraceuticals industry is projected to reach $187 billion by 2010, buoyed by rising sales in traditional markets like the U.S. and the European Union (EU), and by rising sales in emerging markets like China and India, according to Global Industry Analysts, Last year, the U.S. represented 32%—or about $21 billion—of total sales in the global market, the analysts indicated. Together, the U.S., the EU and Japan represented about 86% of the global market in 2007. Consumer focus on the use of supplements for healthcare is growing stronger in a host of segments, globally , as also in India. According to NMI’s 2007 Health & Wellness Trends Survey, the top health categories for supplements are weight loss, heart problems, digestion, arthritis or joint pain, seasonal allergies, diabetes, vision and eye health, memory enhancers, skin and hair care , Consumers in India are showing more reinforcement of their interest in dietary supplements. but this has not been supported by the medical faternity whereas in the US and Canada...