Trends that are going to transform both the Nutraceutical and Health and Wellness Industry in 2019

• India constitutes 17% of the world's population and currently, 2% of the global nutraceutical market revenue comes from India. This gives us a fair idea of the untapped market available to explore. The Indian consumer is increasingly growing aware of the importance of nutrition in disease prevention and management. The awareness and demand of nutraceutical as a strong emerging market in India is on a rise too.

Increased digital penetration is also helping, as it raises awareness and allows us to market our products to consumers directly, using e-commerce platforms. As awareness increases, consumers are now paying attention to health and wellness industries as well. Healthcare is no more a domain of just hospitals, pharmaceuticals, and medical equipment. Nutraceuticals, alternate healing, and sciences are gaining prominence as well in the health-focused ecosystem.

Consumer Clarity

The current generation is looking for preventive measures rather than remedial. They want to be a step ahead of the diseases. Conventional, alternate, holistic - the Indian consumer is keen on every option available to better health and lifestyle. The awareness and demand of nutraceutical as a strong emerging market in India is on a rise too. Increased digital penetration is also helping, as it raises awareness and allows us to market our products to consumers directly, using e-commerce platforms. As awareness increases, consumers are now paying attention to health and wellness industries as well.

Shift In Spends

Up until recent past, nutraceutical products like supplements and functional foods were primarily purchased by body-building aficionados or people higher socio-economic groups. We see a shift in this trend as a direct effect of consumer’s rising disposable income and higher purchasing power. With technology and globalization, there has also been an increase in levels of awareness among consumers about the impact of lifestyle and diet on health. The consumer’s growing knowledge on nutraceuticals has instilled faith in nutrition as a preventive measure in dealing with ailments. The new-age customers don’t play miser when it is about spending on preventive healthcare and nutraceuticals.

This article is contributed by Sushil Khaitan, CEO & Director, Purenutrition.me