AT ASSOCHAM'S 4th NATIONAL SYMPOSIUM ON NUTRACEUTICALS, MRSS India Releases Its Knowledge Report
With a stark objective to provide a common platform for the Nutraceutical, Pharmaceutical and Food industry, on July 25 at New Delhi, ASSOCHAM organized 4th National Symposium titled ‘Nutraceuticals: Functional Foods, Dietary Supplements and Natural Medicines’.The conference aimed to promote the overall development of the nutrition and health products sector. At this symposium, first & the only listed Market Research Company, MRSS India, released its knowledge report titled “Indian Nutraceuticals Market-Current Scenario & Future Trends”.
Commenting on Symposium, Raj Sharma, Chairman, MRSS India says “Western countries like America have repackaged, rebranded and renamed our Ayurveda as nutraceuticals that have instituted a significant positioning in the global market. The lack of awareness-specially in terms of media is the reason behind lacking Indian involvement. The time is now to grow up and change. We are not talking numbers. We are talking attitude, discipline and change of behaviour to make this industry body a global player”.
The report enables Nutraceuticals, Pharmaceuticals & others ( bothexperienced & newcomers) intending at inviting investments from Indian and multinational organizations with strategic intent to understand the emerging business opportunities and the entire ecosystem of the Nutraceuticals.Itwas released by the speakers & panelistsnamely,Ashwini Kumar Choubey(Minister of State, MoH&FW), AshishBahuguna(Chairperson, FSSAI),RanjitaSood, (Director, Global Government Affair-South Asia, Abbott Healthcare), Raj Sharma(Chairman, MRSS India),Ajit Singh( Chairman, ACG Worldwide), Dr. MuhammedMajeed(Founder&Chairman, Sami-Sabinsa group), Dr. GirishSahni (Director General, CSIR) & Dr. ChindiVasudevappa (V C, NIFTEM).
The global nutraceutical market is expected to reach $578.23 billion by 2025 at CAGR of 8.8percentand the compound annual growth rate of the dietary supplement sector is expected to exceed 9.7% from 2017 to 2025. Coming to the Indian nutraceuticals market, its expected to witness an upsurge from $4 billion in 2017 to $18 billion in 2025 impartinga whopping 21percent increase every year.This will likely be fueled by a significant 25percentannual growth in functional food & beverages market accompanied by similar potential growth from the other segments.
The largest full-service market research firm in Asia and the only company in MR space to be listed on the BSE SME Exchange, MRSS India is part of the Majestic Market Research Support Services which was founded in 1992. The company offers a wide range of Qualitative and Quantitative Research Services within the country and in the international spaces. The research team of MRSS India has presence in Mumbai, Delhi * Bangalore, and is a member of MRSI and DIN (Digital Insight Network - Global).
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