ABSTRACT
The nutraceutical and allied products industry is at an ever-growing phase. The dynamics of the industry are constantly changing especially in the developing markets like India, China, Mexico, and Brazil. In countries like India, nutraceuticals are already at the forefront of preventative and proactive healthcare and disease management. The global nutraceutical market accounted for $171.8 billion in 2014 and is expected to reach $295 billion by 2022. Globally, the market is estimated to be growing at a compound annual growth rate (CAGR) of 7% in the period 2014-2022. India’s nutraceutical market is expected to cross $6.1 billion by 2020 from its current $2.8 billion. According to a study conducted by ASSOCHAM and RNCOS in 2014-2015, the Indian nutraceutical market was growing at CAGR of about 17% and had become one of the fastest emerging markets in the health and wellness sector. People making healthier choices are only going to further aid in the nutraceutical industry’s growth.
