Rising awareness about preventive health, increasing disposable income, growing product availability and increasing incidence of diseases such as COVID-19 to drive India immunity boosting packaged products market
According to TechSci Research report, “India Immunity Boosting Packaged Products Market By Product Category, By Distribution Channel, By Region, Competition, Forecast & Opportunities, FY2026”, India immunity boosting packaged products market is anticipated to witness robust growth during the forecast period and reach $ 347 million by FY 2026 owing to the rising awareness among consumers towards immunity boosting products, expanding middle class population and increasing disposable income. 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 packaged products. Furthermore, increasingly busy lifestyle is resulting in a lack of nutrition and fitness among people, which is creating a huge demand for immunity boosting packaged products in the Indian market. Also, the rising geriatric population, who have comparatively weaker immune system, is another factor expected to drive the market growth in the coming years.
Additionally, rapid growth of the e-commerce market is augmenting the growth of immunity boosting packaged products 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 products in the country. However, India immunity boosting packaged products market is also facing some restrains. The high cost of raw materials is causing a hindrance to the market growth. Also, the lack of a clear regulatory framework is posing as a challenge for the manufacturers and increasing presence of the generic products with false claims leads to distraction among consumers.
India immunity boosting packaged products market is segmented based on product category, distribution channel and region. Based on the product category, the market is categorized into food, beverages, supplements, and others. Among them, the supplements segment accounted for the largest market share in FY2020 and the segment is further expected to undergo rapid growth during the forecast period. The food segment is also expected to witness growth during the forecast period due to rising focus on preventive healthcare in the country and wider product varieties being introduced by the manufactures.
Based on the distribution channel, India immunity boosting packaged products market is segmented into convenience stores, specialty stores, supermarkets & hypermarkets, medical stores and online. The convenience stores segment dominated the Indian market in FY 2020 and the segment is expected to grow substantially during the forecast period owing to ease of buying for customers. However, the online segment is poised to witness fastest CAGR during the forecast period due to the increasing availability of immunity boosting packaged products on e-commerce sites and growing preference of people to shop online, especially during the spread of COVID-19.
Based on the region the market is segmented in West, South, North, and East regions. Among them, West India accounted for the largest market share in FY 2020. Over the next five years, North region is expected to witness fastest growth and emerge as the largest regional market for immunity boosting products in India by FY 20226. Major players operating in India immunity boosting packaged products market are Dabur India Ltd., The Himalaya Drug Company, Patanjali Ayurved, Amway India Enterprise Private Limited, Baidyanath Ayurved Bhawan Pvt. Ltd, Organic India Private Limited, Herbalife India Private Limited, Kerala Ayurveda, Aeronutrix Sports Products Private Limited, TBOF foods Ltd, Del Monte India including others. Leading companies are investing in new product launches, expanding distribution networks and entering into collaborations to increase their market share. Few of the developments that took place over the last few years include ITC and Amway together introducing exclusive immunity boosting juice range named “B Natural+”; Del Monte announcing the launch of Del Monte’s ACE that help in boosting immunity; AMUL rolling out ‘Haldi Doodh’ beverage to boost the immune system; New additions in Dabur’s portfolio such as ready-to-use immunity boosting products like Tulsi Drops, Giloy Neem with Tulsi Juice, Amla Juice and the Immunity Kit; and Bonn Group of Industries unveiling immunity booster herb & seeds bread under its Nu Health product range.
“Millennials in India are increasingly inclining towards health & fitness and are spending money on improving their health. The rise in the middle-class population and increasing urban population has led to considerable demand for immunity boosting packaged products in India over the last few years. Moreover, the growth of the Indian fitness industry is supporting the growth of immunity boosting packaged products in the country. Also, latest launches by the leading companies will attract consumers in the long run towards immunity boosting products. Rising cases of coronavirus are s also making consumers spend more on preventive healthcare goods including immunity boosting packaged products,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.
“India Immunity Boosting Packaged Products Market By Product Category, By Distribution Channel, By Region, Competition, Forecast & Opportunities, FY2026” has evaluated the future growth potential of 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.
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