The global nutraceuticals market is experiencing a significant surge, driven by increasing consumer awareness of health and wellness. Nutraceuticals, a blend of “nutrition” and “pharmaceutical,” refer to products derived from food sources that offer additional health benefits beyond basic nutritional value. These include dietary supplements, functional foods, and beverages designed to improve health, delay the aging process, prevent chronic diseases, and support the structure or function of the body.

Market Overview

As of 2023, the global nutraceuticals market was valued at approximately USD 419.93 billion and is projected to reach USD 976.74 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.95% during the forecast period. This robust growth can be attributed to several factors:

• Aging Population: The increasing geriatric population worldwide is seeking products that support healthy aging, including supplements targeting joint health, cognitive function, and cardiovascular wellness.

• Chronic Diseases: Rising incidences of chronic diseases such as obesity, diabetes, and cardiovascular disorders have prompted consumers to adopt preventive healthcare measures, including the use of nutraceuticals.

• Health Consciousness: There is a growing trend of health and wellness awareness, with consumers actively seeking products that offer health benefits beyond basic nutrition.

Regional Insights

• North America: In 2023, North America accounted for approximately 38.3% of the nutraceutical market share. The region’s growth is driven by high disposable income, increased health awareness, and a strong focus on preventive healthcare. The United States, in particular, is a significant contributor, with a well-established market for dietary supplements and functional foods.

• Asia Pacific: This region is poised for the fastest growth, with a projected CAGR of about 9.0% from 2025 to 2030. Factors contributing to this growth include rapid economic development, increasing disposable incomes, and a shift towards healthier lifestyles. Countries like China and India are leading this surge, with a high demand for functional foods and dietary supplements.

Pharmexcil’s Support to Nutraceutical Exporters

The Pharmaceuticals Export Promotion Council of India (Pharmexcil) plays a pivotal role in promoting the export of Indian nutraceutical products. Established by the Ministry of Commerce and Industry, Pharmexcil offers a range of services to support nutraceutical exporters:

• Market Research: Pharmexcil provides valuable insights into global market trends, helping exporters identify potential markets and understand consumer preferences. This information is crucial for strategizing market entry and expansion.

• Regulatory Guidance: Navigating the complex regulatory landscapes of different countries can be challenging. Pharmexcil assists exporters in understanding and complying with international regulatory requirements, ensuring that products meet the necessary standards and certifications.

• International Trade Fairs: Participation in global trade fairs and exhibitions is facilitated by Pharmexcil, providing exporters with platforms to showcase their products, network with potential buyers, and explore new business opportunities. For instance, Pharmexcil has organized events like the Indian Pharma Expo in Vietnam, enabling Indian companies to tap into new markets.

Altus Exports: Facilitating Global Expansion for Indian Manufacturers

Altus Exports is dedicated to assisting Indian nutraceutical manufacturers in reaching international markets. Recognizing the challenges associated with exporting, Altus Exports offers comprehensive solutions to streamline the process:

• Buyer Identification: Leveraging an extensive network and access to comprehensive databases, Altus Exports identifies and connects manufacturers with potential buyers across various international markets.

• Marketing Expertise: A skilled marketing team employs a blend of traditional and digital strategies to promote products effectively, enhancing visibility and appeal in the global marketplace.

• Regulatory Support: Understanding international regulations is crucial for successful exportation. Altus Exports provides guidance to ensure that products comply with the regulatory standards of target markets, facilitating smooth entry and sustained presence.

Partnering with Altus Exports

Indian nutraceutical manufacturers seeking to expand globally can benefit from a partnership with Altus Exports. The collaboration process involves:

1. Assessment: Evaluating the manufacturer’s products to ensure they meet international quality standards and are suitable for export.

2. Documentation: Assisting in obtaining necessary certifications and documentation required for international trade.

3. Market Strategy: Developing a tailored market entry strategy, including pricing, positioning, and promotional tactics.

4. Logistics Support: Coordinating the logistics of exporting, including shipping, customs clearance, and distribution in the target market.

By partnering with Altus Exports, manufacturers can navigate the complexities of international trade with ease and confidence. For more information on how to collaborate, visit their Manufacturer Partnership page.

Conclusion

The global nutraceuticals market presents a lucrative opportunity for Indian manufacturers. With the support of organizations like Pharmexcil and strategic partnerships with entities like Altus Exports, Indian nutraceutical products can achieve a strong presence in the international arena, contributing to global health and wellness.

Success Stories: Indian Pharma Exporters Thriving with Pharmexcil’s Support

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Capacity Building: Training Programs and Workshops for Export Excellence

Policy Advocacy: Representing Exporters’ Interests on the Global Stage

Facilitating Global Networking: Trade Delegations and Buyer-Seller Meets

Navigating Regulatory Landscapes: Pharmexcil’s Role in Compliance and Certifications

Market Research and Intelligence: Empowering Exporters with Data-Driven Insights