Increasing prevalence of various chronic diseases and rising awareness towards health to drive India immunity boosting packaged foods market
According to TechSci Research report, “India Immunity Boosting Packaged Foods Market By Product Category (Food, Beverages & Supplements), By Distribution Channel (Offline (Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores, Others), Online), By Region, Forecast & Opportunities, 2025”, the market is anticipated to witness robust growth during the forecast period owing to rising awareness among consumers towards benefits of healthy eating. The outbreak of COVID-19 is also acting as a major growth factor for this market as there is a growing need for immunity boosting food products. Furthermore, changing lifestyle has resulted in lack of nutrition and fitness among people, which is creating huge demand for immunity boosting packaged food products in the Indian market. Also, rise in geriatric population, having comparatively weak immunity system is another factor expected to drive the market growth in the coming years.
Additionally, increasing per capita disposable income and rapid growth of the e-commerce market are augmenting the growth of immunity boosting packaged foods market in India. Manufacturers are also coming up with new products with higher therapeutic benefits, which is creating a wider consumer base for immunity boosting packaged foods in the country. Moreover, with increasing prevalence of chronic diseases such as diabetes and cancer, the market is poised to undergo a substantial growth in the next five years.
However, India immunity boosting packaged foods market is also facing some restrains. High cost of raw materials and lack of awareness among people about the benefits of these products might cause hindrance to the market growth. Also, lack of clear regulatory framework is posing as a challenge for the manufacturers.
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India immunity boosting packaged foods market is segmented based on product category, distribution channel and region. Based on product category, the market is categorized into food, beverages and supplements. The food segment is further segmented into seeds, dry fruits, instant food and others. The beverages segment is divided into juice, tea, coffee, probiotic shots and others. Similarly, the supplements segment is categorized into powder and capsules. Among them, the beverages segment accounted for largest market share in 2019 and is further expected to undergo rapid growth during the forecast period. The reasons can be attributed to the easy availability and accessibility of beverages such as tea and coffee in the Indian market. However, the supplements segment is also expected to witness high growth rate during the forecast period due to new focus on preventive healthcare in the country.
Based on distribution channel, India immunity boosting packaged foods market is segmented into offline and online channels. The offline segment is further split into supermarkets & hypermarkets, specialty stores, convenience stores and others. The offline segment dominated the Indian market in 2019 and is expected to grow substantially during the forecast period owing to the high availability of immunity boosting foods in convenience stores and supermarkets/hypermarkets. However, the online segment is poised to witness fastest CAGR during the forecast period due to the increasing availability of immunity boosting packaged foods on e-commerce sites and growing preference of people to shop online as it gives them less time-consuming shopping experience.
Major players operating in the India immunity boosting packaged foods market include The Himalaya Drug Company, GlaxoSmithKline Pharmaceuticals Ltd, Abbott India Limited, Dabur India Ltd., Nestle India Ltd, Danone Nutricia India Private Limited, Patanjali Ayurved Limited, Organic India Private Limited, Bright Life Care Private Limited, GSK Consumer Healthcare Private Limited, Amway India Enterprise Private Limited and Herbalife India Private Limited. The companies are investing on new product launches and strong distribution network to increase their market share in the Indian market. Other growth strategies being undertaken are mergers & acquisitions and partnerships.
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“The youth population of India is increasingly getting inclined towards health & fitness and is spending money on organic and natural food items. The rise in middle class population has led to considerable surge in demand for immunity boosting packaged food products. Moreover, growth of the Indian fitness industry is supporting the growth of immunity boosting packaged foods in the country. Moreover, increasing cases of coronavirus are also making consumers to spend more on preventive healthcare goods including immunity boosting packaged foods,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Immunity Boosting Packaged Foods Market By Product Type (Herbs & Spices, Nuts & Seeds, Fruits & Vegetables, Dairy-Based Products, Probiotics & Prebiotics, Others), By Distribution Channel (Offline (Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores, Others), Online), By Region, Forecast & Opportunities, 2025”has evaluated the future growth potential of India immunity boosting packaged foods market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India immunity boosting packaged foods market.