ayurveda

India’s nutraceutical market: catching up very fast

India is a vast territory located in the south of Asia. It is the second most populated country in the world with a population estimated 1.2 billion inhabitants. It is a federal republic and consists of 29 states and 7 union territories. The economy is growing quite fast making India the sixth largest economy in the world.

According to The World Bank, real GDP growth slowed to 7.1 % in FY16/17 from 8 % in FY15/16. Despite the increase in public and private consumption due to the revival of rural demand after a normal monsoon and the implementation of the 7th central pay commission recommendations, overall demand slowed as investments remained weak.

Poverty has declined since 2004/05. Economic activity is expected to stabilize, maintaining annual GDP growth at 7.0% in FY18. Growth is projected to increase to 7.4% by FY20

The income level increase and the awareness of healthy habits are making nutraceutical industry grow at a very fast pace. Mainly Pharmaceutical companies dominate the market. The urban population is the main consumers of an industry where herbal remedies have a big share of the market. This is due to the influence of Ayurveda.

Ayurvedic medicine

The origin is India more than 3,000 years ago. It is one of the world’s oldest systems of medicine. Its understanding of health and disease promotes the use of herbal remedies, special diets, and other health practices. That’s why natural remedies are quite common among the Indian population.

Mediterranean approach

In spite of India is one of the biggest suppliers of herbal extracts to the world, Monteloeder’s natural branded ingredients are getting more and more demand in this country. Indeed, very soon we will be able to see in the market some products containing our branded ingredients. Our positioning focused on the Mediterranean origin, plus our strong science backing our ingredients are the key facts for this success.

Monteloeder has a regional office in Malaysia to be closer to the customers of this area, like India. We believe that being close to the customers we can understand better their needs and therefore serve them better.

Ignacio Cartagena

Vice President and Sales