Indian Energy Supplements Market: Introduction
A recent report published by Transparency Market Research on the Indian Energy Supplements Market includes industry analysis and assessment of opportunities for 2021-2031. The overall revenue generated by the Indian energy supplements market is estimated to be over US $ 660 million in 2021 and is expected to reach US $ 1.5 billion by the end of the forecast period.
Growing Consumption of Dietary Supplements Boosts India’s Energy Supplement Market
The nutraceutical industry is booming, due to an increase in demand for nutritional supplements and a fundamental shift in consumer preferences over pharmaceuticals among the upper and middle classes. The main drivers of the Indian energy supplement market are expanding GDP and growing elderly population. More product launches, increased investment in the APAC health industry, and consumer health knowledge are just some of the factors that are expected to increase demand for this product.
The rapid digitization and increased use of social media has boosted public awareness and access to important information on nutrition, holistic health and wellness. Additionally, as people care more about nutrition and health, nutraceuticals have become increasingly popular as essential supplements for achieving and maintaining excellent health around the world. Modern marketing strategies, which allow businesses to display a wide range of products to a highly targeted audience through online advertising platforms, have been a crucial factor in the growth of the industry.
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Changing consumer lifestyles to accelerate India’s energy supplement market
India is one of the world’s largest economies with high purchasing power parity. The per capita income of individuals has increased over the past decade, paving the way for new lifestyles. The incidence of lifestyle-related diseases has increased due to changes in eating habits, lack of physical exercise and the increase in the number of people working in sedentary jobs.
Due to the increase in healthcare expenditure and the burden of lifestyle-related illnesses, the dietary supplement market is being driven by a paradigm shift towards preventive health management techniques. In addition, the future growth of energy supplements is expected to be boosted by digitalization in the retail sector. Likewise, the growing popularity of herbal supplements is expected to lead to increased sales.
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Growth of e-commerce to influence sales of energy supplements in India
India is a young country with a demographic profile that supports the expansion of e-commerce in general. Rising disposable income, along with a demographics slanted towards tech-savvy young people, indicate bright possibilities for e-commerce growth. Millennials are the most active Internet customers, although older generations with more purchasing power are increasingly prevalent. The increased availability of the internet, rapidly falling costs of using data and the spread of smartphones are all contributing to the expansion of sales of energy supplements through online channels. Almost three quarters of online purchases in India are made on cell phones.
As consumers have become more health conscious and the COVID-19 pandemic has reinforced this trend, efforts to manage the disease have created a difficult and uncertain economic situation. As a result, the growth rates of supplements that are not considered to be vital and have high prices, such as protein supplements and non-herbal supplements, have been severely affected.
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This version was posted on openPR.