India's Nutraceuticals Sector Poised For Growth With Government Support

(MENAFN- KNN India) New Delhi, Feb 6 (KNN) The Indian government is keen to bolster the country's nutraceuticals sector, recognising its vast potential and the challenges it faces in exports and procurement.

Subrata Gupta, Secretary, Union Ministry of Food Processing Industries, emphasised this commitment while addressing industry leaders at Vitafoods India, an event organised by Informa Markets in India on Wednesday.

“The global nutrition market, currently valued at USD 520 billion, is shifting towards traditional and preventive healthcare. India's share, estimated at USD 8 billion, highlights a significant opportunity for expansion, particularly in Ayurveda-based nutraceuticals,” Gupta said.

He stressed the sector's role in bridging traditional knowledge with modern healthcare through accessibility, traceability, and quality of herbal and plant-based products.

“With rising global demand, standardisation, research-backed validation, and sustainable cultivation are crucial for India to strengthen its position in the natural wellness market,” he added.

Addressing key challenges such as access to quality raw materials, processing inefficiencies, and export compliance will be essential in enhancing the sector's contribution to farmers, employment, and foreign exchange earnings, Gupta noted.

Manoj Nesari, Advisor, Ayurveda, Ministry of AYUSH, highlighted the exponential growth of the Ayurveda and nutraceutical sector, which expanded from USD 3 billion in 2014 to USD 24 billion today.“With a projected target of USD 200 billion in the next decade, global acceptance, research, and policy support are driving this growth,” he said.

Sanjaya Mariwala, Executive Chairman & Managing Director, OmniActive Health Technologies, underscored India's potential.

“With our agricultural resources and pharmaceutical expertise, the nutraceuticals sector can replicate the success of the IT industry and realistically reach a USD 100 billion valuation,” he said.

Yogesh Mudras, Managing Director, Informa Markets in India, noted that evolving regulations from FSSAI will attract investments and shape the industry's future.

As the sector moves forward, collaboration between the government and industry players will be key to unlocking its full potential.

(KNN Bureau)

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