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India's nutraceutical industry is experiencing extraordinary growth, with a current market size of USD 4 billion, according to Kamala Vardhana Rao, CEO of the Food Safety and Standards Authority of India (FSSAI). Speaking at an event organized by Assocham, Rao highlighted how the sector is expanding rapidly beyond initial expectations, driven by rising demand for nutrition and food security. The FSSAI’s focus on ensuring safety and efficacy is becoming increasingly important as new innovations emerge.
Rao noted that the nutraceutical industry is not just growing but flourishing, thanks to heightened consumer interest in health and wellness products. As India continues to prioritize nutritional and food security, the demand for nutraceutical products is on the rise. The FSSAI chief emphasized the need for regulatory oversight in a rapidly evolving market where genetic modifications of food grains like wheat and rice are becoming more common.
Speaking alongside Rao, Manoj Nesari, an advisor at the Ministry of Ayush, acknowledged the close relationship between the nutraceutical and Ayurveda sectors. Both industries are experiencing significant growth, with innovation and regulatory measures playing key roles in driving their success. Nesari also highlighted the implementation of Harmonized System (HS) Codes for the export of these products, further boosting their market reach.
At the event, prominent industry leaders shared their perspectives on the future of the nutraceutical market. Blossom Kochhar, Co-Chair of the Assocham National Wellness Council, Suresh Garg, Chairman of Zeon Lifesciences Ltd, and Lal Hingorani, Chairman of SHEFEXIL, all expressed optimism about the sector’s potential. They pointed to innovative breakthroughs and the growing importance of regulatory compliance as crucial factors in sustaining this momentum.Alwin Samuel, Vice President of TechSci Research, echoed these sentiments, stating that the nutraceutical sector's growth is not only driven by domestic demand but also by increasing export opportunities.
India's nutraceutical industry is experiencing unprecedented growth, reflecting the country's rising focus on health, nutrition, and food security. With the sector surpassing expectations, regulatory oversight by bodies like the FSSAI and the Ministry of Ayush will be crucial in maintaining product safety and efficacy. The close relationship between the nutraceutical and Ayurveda industries offers additional growth opportunities as both sectors continue to innovate and expand.
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