India's Nutraceutical industry set to double to USD 60 billion by 2030: Steadfast Nutrition Report

New Delhi [India], October 11 (ANI): India's nutraceutical industry is expected to witness robust growth over the next five years, with its valuation projected to double from USD 30.37 billion in 2024 to USD 60 billion by 2030, according to a report by Steadfast Nutrition.

The report highlighted that the industry is anticipated to grow at a compound annual growth rate (CAGR) of 13.6 per cent between 2025 and 2030.

This strong growth outlook is driven by rising consumer demand, increasing focus on preventive healthcare, favourable government policies, and product innovation across the sector.

Steadfast Nutrition noted that India's growing health-conscious population is becoming more inclined towards dietary supplements and wellness products. As awareness around nutrition, immunity, and fitness continues to rise, the industry is poised for significant expansion.

The report added that the government's supportive stance on healthcare and wellness, combined with innovation in product formulations, will further boost market potential.

However, the report pointed out that the sector continues to face several challenges. One major concern is the lack of a defined industry classification for nutraceuticals, which limits the scope of targeted government support.

Additionally, investment in research and development remains low due to the high costs involved and the absence of dedicated grants.

Ensuring stringent quality control and maintaining consistent product standards also remain key challenges, as these factors directly impact consumer trust and the credibility of the industry.

Speaking to ANI, Aman Puri, founder of Steadfast Nutrition, said, "Quality control is one of the biggest product-related challenges the nutraceutical industry faces, undermining its credibility. Steadfast Nutrition is recognised for its non-negotiable emphasis on quality and safety. We're committed to improving the health and fitness levels of Indians with organ-friendly, effective, and safe supplements. Our formulations have supported the performance of India's top athletes in international and national-level championships, including the Olympics and Commonwealth Games, while also enabling numerous individuals to achieve optimal health."

Puri further mentioned that competition from international players and limited consumer awareness about the benefits of nutraceuticals, coupled with persistent myths surrounding supplements, pose hurdles for domestic brands.

To address these challenges, he suggested sector-specific government support and greater budgetary allocation for R&D. He emphasised the need for transparency, clean labelling, and rigorous third-party testing to build consumer confidence.

Additionally, he called for educational initiatives to raise awareness about the value of supplementation and recommended more funding and support for startups in the sector to help them compete with foreign brands.

The nutraceutical industry produces products derived from food sources that provide health benefits beyond basic nutrition, combining the terms "nutrition" and "pharmaceutical".

Steadfast Nutrition, a sports and wellness nutrition brand associated with over 100 athletes, was founded by Aman Puri, a former athlete and nutrition expert. The company stated that it has a vision to bridge the gap in the market for high-quality and reliable nutrition products. (ANI)

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