The government of India is keen to provide the necessary help to the country’s nutraceuticals sector, which is faced with multiple challenges in the exports and procurement, to achieve its full potential said Subrata Gupta, Secretary, Union Ministry of Food Processing Industries on Wednesday.
“The global nutrition market, valued at approximately $520 billion, is witnessing a growing emphasis on traditional and preventive healthcare. India’s share, estimated at around $8 billion, highlights the sector’s vast potential for growth particularly in Ayurveda-based nutraceuticals,” Mr Gupta said while speaking at Vitafoods India, organized by Informa Markets in India
“The industry plays a pivotal role in bridging the gap between traditional knowledge and modern healthcare by ensuring accessibility, traceability, and quality of herbal and plant-based products,” he said.
“With increasing global demand, standardisation, research-backed validation, and sustainable cultivation practices are critical to strengthening India’s position as a leader in the natural wellness sector,” he added.
Addressing challenges such as access to quality planting materials, processing gaps, and export compliance can significantly enhance the sector’s contribution to farmers, employment, and foreign exchange earnings, he said.
“This sector requires significant attention from the government because it can provide value addition to growers. The industry and government must work together to set the standards high and achieving the full potential,” he said.
Manoj Nesari, Advisor, Ayurveda, Ministry of AYUSH, government of India, said, “The Ayurveda and nutraceutical sector is experiencing unprecedented growth, with the market expanding from $3 billion in 2014 to $18.2 billion by 2020 and currently valued at around $24 billion.”
“With a projected target of $200 billion over the next decade, this growth is driven by increasing global acceptance, research advancements, and policy support. The industry is evolving beyond conventional supplements to embrace Ayurvedic Aahar, recognizing the immense potential of flavonoids and alkaloids found in medicinal plants and everyday foods,” he said.
Sanjaya Mariwala, Executive Chairman & Managing Director, OmniActive Health Technologies, said “India’s rich agricultural potential, coupled with its pharmaceutical expertise, provides a strong foundation for innovation in nutrition, health, and wellness industries.”
“With the right synergy between government policies and industry initiatives, the sector can unlock immense growth opportunities, much like India’s success in the software industry. Given the country’s manufacturing capabilities and scientific talent, achieving a $100 billion market in nutraceuticals is a realistic goal,” he said.
“A focused and collaborative approach can propel India to the forefront of the global nutraceutical landscape, driving industry expansion and enhancing its contribution to global health and wellness,” he added.
Yogesh Mudras, Managing Director, Informa Markets in India, said, “Nutraceuticals now dominate the pharma -supplement market, with evolving regulations like those from FSSAI set to attract investments and foster growth. Vitafoods India continues to play a pivotal role in driving innovation and shaping the future of this thriving industry.”
Published - February 05, 2025 11:42 pm IST
