9th Nutraceuticals Summit and Awards

The global nutraceuticals market size was USD 291.33 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. The primary factors driving the market growth are preventive healthcare, increasing instances of lifestyle-related disorders, and rising consumer focus on health-promoting diet. India’s nutraceutical market is prepped to be a global leader at USD 4-5 billion. It is expected to grow approximately USD 18 billion by 2025. (Source: Grand View Research).

However, the Nutraceuticals Industry have issues related to regulations, implication of biodiversity act, lack of mechanism to explain the small, micro industry on compliance requirements, complex policies for commercialising nutra products, efficacy and safety, labelling issues that hinders the growth of the nutra segment despite increasing awareness.

There are key regulatory developments, judicial decisions and market updates relating to the food, nutrition, and wellness sector for the period between January 2023 to June 2023 underlining the importance of the industry. The regulators have a highly responsible job to create an eco-system under the “One Health” approach which provides an integrated platform to collectively look at health of climate, human, animal, and plant. The underlying motto of the ongoing G20 India Presidency, One Health forms a key priority for the Health Working Group.

With above background, ASSOCHAM is organising ASSOCHAM is organising “9th Nutraceuticals Summit & Awards” on 29th February in New Delhi