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 RNCOS  TechSci Research

While the healthcare sector of India is on a rise, there is another segment of pharmaceuticals that is not left very far behind. This is the sector of Functional foods, dietary supplements, herbal products or health foods, known worldwide as NUTRACUETICALS. The NUTRACUETICALS segment has been growing at a fast pace in India because of the growing health awareness, and the higher disposable income at hand especially amongst the urban population. The nutraceutical market vis–a–vis consumer perception and preference of buying is mainly driven by influencers such as Media, Doctors, Peers etc. Despite a 1.2 billion population, India accounted for less than 2 percent of the global nutraceuticals demand in 2013. This suggests the amount of potential India has for growth in Nutraceutical segment. According to a report by Frost & Sullivan, India's Nutraceuticals market is likely to touch $6.1 billion by 2020 from the current level of $2.8 billion, growing at compounded annual growth rate (CAGR) of 17%. Functional foods & beverages constitute 60% of the Indian Nutraceuticals market while rest 40% is dietary supplements. Currently, Vitamins and minerals hold 36% of the total Indian Nutraceuticals market, followed by probiotics and omega-3 fatty acids with 9% and 5% shares respectively while rest 50% is constituted by probiotics, amino acids, peptides, fibers, antioxidants, plant extracts among several others. Sports nutrition is also a rising segment of the supplement market in India, although not strictly for sports-related ventures.
In spite of the high growth rates of Nutraceuticals in India (both existing as well as expected); the growth of Nutraceuticals in India is restrained by lack of a solid regulatory framework is crucial for medical credibility as it ensures high-quality products that can be relied on to do what they say they do. Lack of data is another issue, along with the fact that the market is more based on perception as opposed to research and facts. Also, in India, Ayurveda and Herbal segment poses a threat to the growth of Nutraceuticals industry instead of synergizing of commonalities. Herbals promises huge potential to Nutraceuticals product manufacturers, through customization of their products to include natural and herbal ingredients.
With this background, ASSOCHAM is organizing 2nd National Symposium-cum-Awards on “Nutraceuticals, Herbals, & Functional Foods” to understand the issues promoting as well as plaguing the growth of this sector while the Awards aims to recognize the individual best practices in each of these verticals.

Registration Fees: 

  • Delegate Fee: 2,000/- per delegate (10% discount for three or more persons from the same organization.)