Nutrition and pharmaceuticals are integral part of health management of human beings. Nutrition promotes well-being and pharmaceuticals restores health.
Nutrition + Pharmaceuticals = Nutraceuticals
Nutraceuticals and pharmaceuticals constitute two verticals of Healthcare –
Nutraceuticals spell positive health.
Pharmaceuticals cater to illness management.
Home to 17.5% of earth’s population, India accounts for 20% of the global burden of disease. There are over 10,000 diseases and disorders the human has been documented to suffer but cures are available for merely 500 of these! This is indeed alarming and Nutraceuticals offer a viable option for healthier living. Be it the joints, heart, liver, brain, eyes, skin, hair, or any other aging-prone body part or organ, nutraceutical ingredients offer a wellness support to ensure positive health.
According to Nutraceuticals Institute (NI) of Saint Joseph University (Philadelphia, USA): “Nutraceuticals are natural, bioactive chemical compounds that have health promoting, disease preventing or medicinal properties.” The ingredients are isolated and extracted from natural sources and resources and formulated as a health providing tablet, capsule, liquid, powders, granules, candies and similar other forms.
There are over 5,000 known and available nutraceutical ingredients that can support multifarious health concerns. Frequency of nutraceuticals use is 50%-70% in developed countries’ population and this number is increasing by the age.
Prevention Is Better Than Cure
It is much easier to maintain health than to try to regain it after it has been lost. Remember, it is expensive to maintain health but illness is costlier!
COSMECEUTICALS
Cosmetics signify beauty but nutraceuticals provide a cutting edge to the otherwise sheer make-up industry.
Cosmetics + Nutraceuticals = Cosmeceuticals
The size of Indian Cosmetics industry is US $13.2 billion, that is, INR 99k crores. In 2021, India is 20% large as compared to the top 2 most dominant markets, namely US and China. Since the cosmetic market is growing at over 15% year-on-year, India is all set to become one of the top 5 cosmetic players in the world!
MARKET SCOPE
The most captured in cosmetic market are skincare (US $6 bn) and haircare (US $5 bn) segments.
For centuries the cosmetic industry has been synonymous with Skin and Hair make ups. But this is superfluous and there is increasing acceptance is both skin as well as hair caring needs to be more penetrative to spell more lasting cosmetic appeal.
Cleansing of skin is a function of soap but a soap blended with suitable nutraceutical ingredients can additionally provide added functionality in terms of lightening dark patches, contributing to skin glow and many other varied benefits as per the consumer need and preferences.
Welcome to the new world of COSMECEUTICALS!
India
Nutra: US$ 9 bn
Cosmetic: US$ 13 bn
Global
Nutra: US$ 9 bn
Cosmetic: US$ 13 bn
Indian share for nutraceuticals as well as cosmetics is approximately 2% of the respective world markets for these two verticals.
