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Industry Insight - Nutraceuticals
CYGNUS Business Consulting & Research, Aug 2010, Pages: 135
Along with the growing healthcare industry in India there is an emerging trend in growing consumerism for ‘Fast Moving Healthcare Goods (FMHG)’; worldwide known as Nutraceuticals, which are by definition, ingredients with human health benefits beyond basic nutrition. In this report, Cygnus has considered nutraceuticals along with functional foods to estimate the total market of nutraceuticals, both for global and Indian market. According to Cygnus estimates, nutraceuticals market in 2009 was Rs44 billion and expected to grow at 20.24% CAGR to achieve a market size of Rs90 billion in 2013. Global nutraceuticals market is estimated at US$177 billion in 2009 growing at 7% (CAGR) over the period 2006-2009. The US has been the major market for nutraceuticals with India and China becoming fastest growing markets. Nutraceuticals are gaining acceptance globally for their ability to address several diseases. Vitamins, Minerals and Nutrients constitute about 85% of the global market while antioxidants and anti-agents account for 10% other segments such as herbal extracts occupy 5% of the market.
Large global food companies, which are always on the lookout for ways to diversify their product line and still turn a profit, have set up functional food or nutraceutical divisions. Pharmaceutical companies are now adopting the nutraceuticals and the recent trend is convergence of food manufacturing companies with pharmaceuticals to implement the collaborative research necessary for drug discovery; the move into the less expensive and time-consuming nutraceuticals research process. It is thus becoming a logical progression for many food companies to enter into nutraceuticals market.
In the view of above backdrop Cygnus has attempted to publish this report on Indian Nutraceuticals market. The report aims at recent trend in the industry, global market and its trend, estimates of the future market, growth drivers, critical success factors, issues and challenges, regulatory environment, profiles of major players and their products offering. The report has total 132 pages with eight chapters and 12 figures and 7 tables showing major industry data. The report will be useful for industry research analysts, Pharma and other food manufacturing companies, financial institutes, and research institutes interested in broad overview of the industry, market its trend and future trend.
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