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Executive Summary

Economy Performance
India is the fastest-growing trillion-dollar economy in the world and the fifth-largest economy by nominal GDP of USD 2.94 trillion. 
Due to the coronavirus outbreak in the country, the GDP of India contracted by a record low to 23.9% in June 2020.

Government Initiatives
With many unlock and other liquidity measures induced in the economy, the worst seems to be over as high-frequency indicators like Index of Industrial Production (IIP), Purchasing Managers Index (PMI), power generation, production of steel and cement, railway freight, traffic at major ports, air cargo and passenger traffic, have shown improvement.

The Indian government has been laying emphasis on healthcare infrastructure by increasing its healthcare expenditure year after year but still the expenditure is very low if compared with other developing ecnomies.1.28% of the GDP was invested in the healthcare sector in the year 2017-2018. There may be a significant rise in the coming years on account of the expenditure spent on healthcare due to the Covid- 19 pandemic.

Market Performance
The nutraceuticals market in India is segmented by Functional Foods, Functional Beverages, and Dietary Supplements. The Indian nutraceutical market revenue continued to grow at double digit growth rate as according to a previous forecast conducted pre-pandemic, the future growth was expected to be 8.2% CAGR however after the virus outbreak consumption of dietary supplements rose exponentially which led to revise the forecast leading to 20.35% CAGR from 2020- 2025.

As the virus hit the country there was a sharp rise in demand for Vitamin C supplement which is known as an immunity booster. The popular ‘Limcee 500 mg which was initially available at INR 1.10 paisa for a tablet witnessed demand supply gap. However, some of the other brands increased the cost to five times of actual. In terms of consumption, it increased 10 folds resulting shortage of multivitamins in the market mainly Vitamin C and Zinc. 

After Vitamin C, soon demand for Vitamin D is expected to witness a rise as lockdown led to make people work from home which restricted them to have Sun heat that produces Vitamin D; which is why doctors are expecting people may have Vitamin deficiency in the coming time leading to rising in the supplement demand. 

Objective of the Study

• To evaluate the present market scenario of India Nutraceuticals market covering dietary supplements, functional food and functional beverages.
• To assess the future expected performance of the market.
• In-depth analysis of Market current scenario and future market prospects considering the COVID-19 impact.
• To assess the impact of internal and external factors by discussing micro and macro factors such as Income, GDP, Expenditure, healthcare, population by age and gender and more.
• To comprehend the key regulatory moves which can influence the market performance.
• Report also discusses industry driving forces present as opportunity and challenges.