Boston, MA -- (ReleaseWire) -- 06/16/2014 -- Vitamins and dietary supplements witnessed strong growth in 2013 at 13% in terms of current value. Growth was attributable to the growing awareness of health and wellness among Indian consumers. This was most obvious among urban consumers, who went through a paradigm shift and actively sought to improve their health. Until five years ago, the consumption of vitamins and dietary supplements was not considered important as the Indian diet consists of all the important food groups. However, a lack of time and proper nourishment, along with the increased need to look and be healthy, helped vitamins and dietary supplements to grow strongly.
Amway India Enterprises Pvt Ltd maintained its leading position with a 24% market share in 2013. The company with its brands, such as Nutrilite, Nutrilite Kids Chewable and Nutrilite Siberian Ginseng and Gingko Biloba amongst others, maintained its leading position due to its longstanding presence in the country and the trust developed over the years among consumers. Amway India was followed by Dabur India Ltd and Ranbaxy Laboratories Ltd with their brands Dabur and Revital respectively. Both the brands relied on celebrity endorsements - Dabur was advertised by Amitabh Bacchchan and Revital by Salman Khan. Both were well marketed and promoted via television commercials, print media and in-store promotions. All three leading companies witnessed an actual sales growth of 15-20% over 2012 in 2013. This was attributable to the rising awareness among consumers of consuming vitamins and dietary supplements on a daily basis.
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Vitamins and dietary supplements is expected to witness a value CAGR at constant 2013 prices of 9% during the forecast period of 2013-2018. Growth is expected to be driven by herbal/traditional supplements such as chyawanprash and ginseng amongst others.
Discover the latest market trends and uncover sources of future market growth for the Vitamins and Dietary Supplements industry in India with research from Euromonitor's team of in-country analysts.
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If you're in the Vitamins and Dietary Supplements industry in India, our research will save you time and money while empowering you to make informed, profitable decisions.
The Vitamins and Dietary Supplements in India market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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