by Medical nutrition products in India such as dietary supplements, sports nutrition, protein supplements and infant formula play a crucial role in various health conditions and diseases. These products provide additional nutrition to complement the normal diet in cases of deficiencies, medical conditions and specific nutritional requirements. The rising prevalence of lifestyle diseases such as diabetes, obesity and cardiovascular diseases due to sedentary lifestyle and changing dietary patterns have increased the need for medical nutrition products in India. These products help in managing the diseases and improving the health outcomes.
The global India Medical Nutrition Market is estimated to be valued at US$ 476.59 Mn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the India medical nutrition market is the growing demand for clean label and organic products. The consumers in India are getting more health conscious and prefer products with natural and organic ingredients over synthetic or artificial ones. This has driven companies to focus on clean label and organic formulations with functional ingredients obtained from plant and herbal extracts. New product launches tailored to address the consumer demand for natural products is expected to boost the market growth. Additionally, increasing awareness about prevention and wellness has also augmented the demand for customized nutrition formulas in the sports & clinical nutrition segments. This has propelled product innovation and personalized nutrition offerings in the market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the medical nutrition market in India requires high capital investment and certification from Indian FDA for new products.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many local players providing substitutes at lower prices in India.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as major brands have to rely on a limited number of suppliers for raw materials.
Threat of new substitutes: The threat of new substitutes is moderate as there are many substitutes available in the open market and customers are sensitive to prices.
Competitive rivalry: Competition in the market is high among existing players.
Key Takeaways
The Global India Medical Nutrition Market Growth is expected to witness high during the forecast period. The market is estimated to grow at a CAGR of 24% during 2023-2030.
Regional analysis: The Western region dominates the India medical nutrition market owing to increasing health awareness. The Southern region is expected to grow at the fastest pace during the forecast period due to rising healthcare spending in the region.
Key players: Key players operating in the India medical nutrition market are Keith Prowse, RTR Sports M, Nutricia, and Dabur. Keith Prowse is the market leader in the country owing to its wide distribution network across India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
