Current Business Affairs Global Nutraceutical Market 2018

Global Nutraceutical Market Trends, Analysis, and Forecast To 2025
An edible product containing the basic nutritional value of food and an added medicinal benefit is referred as
Nutraceutical. Nutraceuticals is also referred as a specially treated food, vitamin, mineral, and herb that can be consume
(eat or drink) for improving the health. The word was coined by Stephen De Felice, founder and chairman of the
Foundation for Innovation in Medicine, Cranford, New Jersey and is a blend of the words “nutrition” and
“pharmaceuticals”.
Urbanization and advent of technology has brought about a steep rise in lifestyle related diseases in the last three
decades. This has made consumers strive for a diet that enhances energy in a holistic way. Thus, increased demand of
healthy diet options with the rise in lifestyle-related diseases has spur the Nutraceuticals market demand. Furthermore,
supply of natural food with added medicinal/health related benefits are expected to meet the demand. Since, three
quarters of the world population is still dependent on the natural products for medicinal purposes, according to a report
published by WHO, a combination of food and medicine--Nutraceuticals have become the ultimate health promoting
diet. Nutraceuticals have become an umbrella term that encompasses functional food, dietary supplements, sports
drinks, functional ingredients and medically formulated foods etc.
Nutraceuticals comprise of two main categories of products-
• Functional food/beverages- These types of foods/non-alcoholic drinks yield physiological benefits, possibly lessening
chronic, commonly encountered disease risks or are otherwise beneficial to health. Examples of such functional
foods/beverages are omega-3 enriched eggs, ready to drink tea, Yakut probiotic drink etc.
• Dietary Supplements- These products are meant to add a “dietary ingredient” to supplement the diet, which may
otherwise not be consumed in sufficient quantities. Examples of such dietary supplements are Vitamins, Amino Acids,
herbs, Minerals etc.
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Another factor enhancing the Nutraceuticals market is conscious consumers believing in curbing possibilities of illness at
an early stage and thus resort to healthier diet options. Increased costs of healthcare, less number of people covered by
health insurance, increase in chronic conditions like diabetes and heart diseases, obesity or under nourishment has
brought about a preference of natural products over artificially manufactured products as a preventive measure.
The major stakeholders in the growth include the fitness instructors, dieticians and general practitioners. Since diet
holds a very important role in building physiological stamina and also recovery from chronic illnesses, the professionals
play a key role in inspiring fitness enthusiast and patients to use the products.
In theOfficial Gazette 2016 on 23rd December 2016, the FSSAI notified the Food Safety and Standards (Health
Supplements, Food for Special Dietary Use, Nutraceuticals, Food for Special Medical Purpose and Functional & Novel
Food) Regulations. A broad category of foods will be covered by these regulations which will entail detailed
requirements about composition, claims, labels of the product.
Following are the above mentioned foods: