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Dr Sanjay Agrawal has been working as Scientific Advisor at ALKOMEX GBN PHARMA GROUP U.S.A.
Nutraceutical industry has emerged to be a light of health and wellness in recent times. This is a vibrant industry that has its roots in preventive healthcare as it brings the best of nutrition and pharmaceutical together with products that enhance their overall health, prevent chronic conditions and enhance quality of life. The market has experienced massive growth all around the world as well as in India due to growing awareness among the consumers, growth in the disposable incomes of the people and the growth of science and technology.
This paper delves into the global and Indian perspective of nutraceutical industry and also attempts to illuminate the place of methylcobalamin (which is a major ingredient of nutraceutical) in clinical practice.It also gives a glimpse of its market size, consumption trend, and growth potential.
What are Nutraceuticals? An In-depth Look at Nutraceuticals
Nutraceuticals is a combination of the words nutrition and pharmaceutical, which implies a great breakthrough in the sector of health and wellness. They are natural food products, which have more benefits to the body than just to meet the basic nutritional needs. The main objective of nutraceuticals is to enhance the well-being, disease prevention, and supplement the modern medical treatment.
According to Health Canada: Nutraceutical can be defined as: product isolated or purified out of foods, and usually sold in a non-food, medicinal form and has been shown to have a physiological effect or to be protective against chronic disease. Nutraceuticals can be consumed to enhance health, slow the aging, prevent chronic diseases, extend life expectancy or to support the structure or functions of the body. Nutraceuticals are nutritional supplements, but whose use transcends nutrition.
Increasing awareness of health-conscious lifestyles and preventive medicine has led to an increasing popularity of the use of nutraceuticals as an option of choice by persons who want to fill in the nutritional gaps or address a particular health condition without wholly depending on pharmaceutical interventions.
Important types of Nutraceuticals
Nutraceuticals is a broad term used to refer to many products that are aimed at meeting the various health requirements. The main ones are listed below:
1. Dietary Supplements:
A dietary supplement is a product (intended to be ingested) that possesses a “dietary ingredient” that is intended to add additional nutritional value (supplement) to the diet, which might otherwise not be obtained in adequate amounts. Examples of such dietary supplements include Vitamins, Minerals, Amino Acids, protein supplements and herbal supplements.
They come in different forms, be it tablets, capsules, powders of liquids.
Examples include multivitamins, omega-3 capsules or calcium supplements.1
Purpose: To fill nutrient deficiencies, particularly to boost immune system, cognitive performance and overall health.
2. Functional Foods:
Functional foods are typical food products that are supplemented with other nutrients/ bioactive components to offer certain health advantages.
When taken in efficacious amounts, as part of a normal diet, they have health benefits beyond the delivery of essential nutrients. Such foods have some extra physiological effects, and they may minimize the risk of chronic, frequently met diseases or otherwise make a healthful balance.
According to Institute of Medicine, USA functional foods are any food or food ingredients which could be beneficial to human health other than the traditional nutrient that such food has.
● Examples:
Vitamin- or iron-enriched cereals.
Probiotic yogurt has live cultures to the gut.
Fortified calcium and Vitamin D plant-based milk.
Purpose: To improve nutrition and health and fit perfectly into everyday diets.
3. Medical Foods:
Medical foods are special products that a person eats under medical supervision to treat diseases or a particular health condition.
● Examples:
Low-protein Patients with chronic kidney disease.
High-calorie nutritional drinks used by patients who have cancer and who are under chemotherapy.
Purpose: To serve the people who have special dietary requirements because of certain medical conditions.
The Important Growth Factors in the Nutraceutical Industry
Many reasons underlie the fast growth of the nutraceutical business. The growing industry supports the industry with the changing consumer behavior, increasing technological changes, and the rising focus on preventive healthcare.
1. Increasing Knowledge of Prevention Healthcare
Prevention is better than cure as it is said. The modern consumers are more informed and active regarding their health, and they know that it is necessary to fill any nutritional gaps to avoid chronic diseases.
Impact: There is an emerging trend of people relying on nutraceuticals to boost their immunity, reduce stress and enhance well-being.
2. Growing Cases of Lifestyle Diseases
Other diseases associated with lifestyle such as diabetes, obesity, hypertension, and cardiovascular problems have soared due to the unhealthy lifestyles, poor diets, and pressures.
● Why Nutraceuticals are important: The products provide non-invasive and natural means of managing or reducing such conditions. An example is that omega 3 supplements are common heart health supplements, and plants-based proteins aid in weight control and met brush health.
3. Innovation and Research.
The development of nutraceuticals has been transformed by scientific innovations and technological change.
Examples of innovation:
Bioactive compounds of natural origin such as turmeric (curcumin) and green tea (catechins).
Delivery mechanisms such as nanoencapsulation to enhance absorption of nutrients.
Customized-to-genetic nutraceuticals.
● Effect: The developments have improved the efficacy of the products, consumer confidence, and product growth in the market.
Nutraceutical advantages:
Nutraceuticals have a variety of advantages that qualify them as an attractive option among customers:
- Easy to use: Nutraceuticals can be in the shape of pills, powders, or beverages and are convenient to be included in daily routines.
- Preventive Care: They will lower the likelihood of chronic illnesses such as diabetes, arthritis and osteoporosis.
- Natural Solutions: a large portion of nutraceuticals contain plant and/or natural ingredients, which is of interest to consumers concerned with whole health solutions.
- Nutraceuticals also support specific health conditions: there are digestive (probiotics), mental (adaptogens such as ashwagandha) and many others.
- Interact with modern medicines: Nutraceuticals when used in combination with other medicines as a medical prescription aid in the better management of the disease.
Roadblocks in the Nutraceutical Scenario:
Although the trend of nutraceuticals is positive when it comes to growth, the industry is associated with some challenges:
- Regulatory Variability: Global markets are blocked by different regulations of various countries on the approval of products or their labeling.
- Consumer Skepticism: There is a growing number of consumers who become skeptical of the effectiveness of some products either because of misinformation or the lack of clinical data.
- Cost Factors: Nutraceuticals of high quality may be costly, hence less affordable to price-elastic groups of the population.
- Medical fraternity acceptance: A good number of doctors do not feel comfortable advising their patients to take nutraceuticals.
Overview of Global Nutraceutical Market:
Nutraceuticals market in the world was estimated at roughly USD 400 billion currently in 2024 and is forecasted to grow to more than USD 650 billion by 2030 at a compound annual growth rate (CAGR) of 8%. This has been due to various trends including the following:
- Aging Population: The rising population of aging adult adults is now turning to natural products as a means of treatment of chronic diseases, and age-related health concerns.
Lifestyle Changes: Increase in levels of obesity, diabetes and cardiovascular diseases has motivated consumers to shift their diets to healthier lifestyles.
- Consumer Awareness: Information on the payoffs of functional foods and supplements is driving active health care management.
Prominent among the world markets of nutraceutical are:
- North America: It is an advanced market that is highly preoccupied with dietary supplements.
Asia-Pacific: Quite rapidly developing, with the new growth of such economies as China and India.
- Europe:There is great demand on functional foods and beverages.
India nutraceutical market:
Size and Growth in the Market
The nutraceutical market of India has increased massively, an estimated INR 650 billion (USD 8 billion) in 2022 compared to INR 260 billion (USD 3.2 billion) in 2017. It is estimated that the market will go above USD 18 billion by 2025 owing to:
- Health Awareness: Consumers have placed a lot of emphasis on immunity-boosters and preventative care after COVID-19.
- Vegetarian Diets: Vegetarian diets are quite popular among the population and this is the reason why supplements such as Vitamin B12 are involved.
- Government Support: The sector has supported the growth of 100 percent FDI.
Market Composition
The nutraceutical industry in India is split into:
Vitamins and Minerals: The market share of vitamins and minerals comprises more than 30 percent.
- Herbal and Ayurvedic products: Became less popular because of such a long history of conventional medicine.
- Probiotics and Omega-3 Fatty Acids: These products are more popular to help with digestive and cardiovascular health.
The focus on Methylcobalamin (Vitamin B12)
An active form of Vitamin B12, methylcobalamin intervenes in a variety of physiological functions, and includes:
Production of red cells.
- Functioning of the nervous system.
Synthesis of DNA
Aids in metabolism
Because of the fact that methylcobalamin:
Statistically significant bioavailability.
Energy synthesis and cognitive wellness Role.
- Effectiveness in the treatment of neurological disorders, and anemia.
Market Dynamics
Global Market:
The global Vitamin B12 is estimated to reach USD 346.6 million in 2032 growing at a CAGR of 6.8% with an initial value of USD 194.3 million in the year 2023.
A surge in the proportion of people with B12 deficiency because of diet is the driving force in the demand as a result of dietary habits, especially in vegetarians and vegans.
Indian Market:
The B-complex vitamins (incorporating Vitamin-B12) market in India was worth nearly USD 281 million in 2020, thus underlining its importance in solving the high prevalence of deficiencies.
The vegetarian diets in India have been found to lack in B12 and hence supplements of the type like the methylcobalamin are inevitable.
Ventures and Future Trends in Nutraceutical Business.
Nutraceutical has been an industry where innovation and technical growth have been moving at a high pace as well as the consumer behavior. The major opportunities and trends affecting the industry are described below.
1. Personalized Nutrition.
There is an increased pace of health individualization. Therefore, it has given rise to the manufacture of nutraceuticals that are specific to genetic makeup, lifestyle and anonymized medical status. The individually tailored nutrients allows the consumers to make informed decisions on their individual needs and make the products more effective and satisfying.
2. Plant-Based Products.
Due to the explosion in veganism and environmental concerns, there has been a dire need in the demand of vegetable products like nutraceuticals. Use of components like plant proteins, algae-derived omega-3s and botanical extracts is gaining increasing popularity as people are becoming less concerned with ethical and environmental concerns.
3. E-commerce Growth.
The proliferation of the online platforms has altered the whole scenario of the marketing and sales of nutraceuticals. Internet shopping brings things closer and therefore customers have a broader range and are able to shop at their convenience. Direct-to-consumer brands and subscription-based models are also leading to the growth in this area.
Biotechnology Innovations
A lot of opportunities in the nutraceutical sector are being provided by leading research in biotechnology to an unlimited extent. The superior processes, are assisting in the identification and the production of novel bioactive agents, such as probiotics, peptides and antioxidants to deliver specific health advantages. More so, the innovations are intensifying the research into the nutraceuticals portfolio.
Conclusion
The near future will have abundant innovative nutraceuticals available to provide the prevention and cure of various diseases. Close interaction between the academia, the industry and the regulatory agencies is quite significant in producing the safe and effective nutraceuticals of next generation.
Nutraceutical marketplace is placed on the borderline between creativity and need. The industry has proved to be a major stakeholder in the area of promoting health and prevention of disease both in India and across the world. The increasing number of requests in products such as methylcobalamin is indicative of the fact that the industry will continue to grow. Nutraceutical market will serve society better due to the resolution of challenges and use of opportunities thus benefiting the general well-being of humanity.
References
1. Growth of Nutraceutical Market in India – Food processing Industry in India.
2. Market size of Vitamin B12 – Fortune Business Insights.
3. Statista.
4. The World Trends In Nutraceuticals – Nuffoods Spectrum.
5. The Vital Vitamin B12 that is Methylcobalamin.
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