India’s nutraceutical industry is expected to hold at least 3.5 percent of the global market share by 2023. Though the sector is still evolving in India, globally it has an attractive market size of over $70 billion. As most of the technologies used in the pharma industry are also utilized in nutraceutical manufacturing. The pharmaceutical industry exports about 56% of its products to the global market. A similar trend can be predicted in the food nutrition industry.
The dietary supplements segment constitutes over 65 percent of the Indian market and is growing at a rate of 17 percent and is likely to be at 22 percent per year, especially when preventive health has become the focus for all in the current pandemic. The food nutrition market in India is expected to grow from an estimated $4 billion in 2017 to $18 billion by the end of 2025, as per the insights from the International trade administration(ITA).
Amidst this hour of confusion, there’s one industry that can be considered a silver lining i.e food nutrition. There are a few advantages to running nutraceutical companies in India. It has a rich heritage of herbal and ayurvedic medicines. The desire for these products has been steadily increasing. A report from Statista shows that the export value of ayurvedic and herbal products amounted to $466 million from Indian in FY2019.
“Ancient Ayurvedic practices have been the cornerstone of wellness in India and the industry has a unique opportunity to propel the global acceptance of Ayurveda.” – Lakshmipriya Nair, author at express pharma. Moreover, India has abundant availability of ingredients along with manufacturing expertise that sets it apart from other countries. Therefore, it is beneficial to buy food nutrition products from India in comparison to the rest of the world.
Animal nutrition focuses on the dietary nutrients needs of animals, primarily those in agriculture and food production, but also in zoos, aquariums, and wildlife management. This industry is well regulated in developed markets of the U.S, Europe, and Australia. Whereas in India, dairy cattle or poultry rearing are treated as secondary activities.
There is no organization to regulate the activities of the Animal Nutrition sector. In the interim, FSSAI has proposed to bring regulations for animal feed to control the seepage of the contaminants. It’s been made mandatory for feed companies to comply with the relevant Bureau of Indian Standards (BIS).
Every sector of the livestock industry, the associated services, and the wellbeing of both animals and humans are influenced by animal feeding. Animals are being fed formulated feed which increases the possibility of toxins in the tissue of tolerant organisms. The toxication increases as we move to higher levels of the food chain. Humans being at the top of the food chain are more prone to cancer, kidney problems, respiratory disorders, and more.
Recently, noticeable efforts have been made to reduce the exposure to chemicals provided to animals as their feed. This would lower the risk of contamination seepage. India has several milestones to cross before it can be considered as a significant exporter in animal nutritional products. Only reliable studies and relevant laboratory practices can open doors to a revolution in the food and animal nutrition sector.
As for animal nutrition products, India exports a small number of feed ingredients to the US.
At present, the volume of exports in this sector is low. But areas similar to organic and feed ingredients like nutritional supplements, probiotics, etc will boost the exports if dealt in. In 2019, India exported 123830 MT of various kinds of animal feed to the world, valued at 228 million USD, representing 1.5% of world export.
The commercial feed industry in India is estimated to be close to 28 million metric tons and caters largely to:
- Poultry Feed (70-75%)
- Aquaculture feed (10-12%)
- Dairy feed (10-15%)
There is a link between nutritional status and the economic status of a country. People with adequate nutrition are more productive and can create opportunities to gradually break the cycles of poverty and hunger. As one of the major positive side effects of the epidemic is the increase in awareness about health and fitness; This has given a significant boost to the nutrition sector.
The demand for nutraceutical products is not dependent on the pandemic. While it undoubtedly increased consumer spending on healthcare and nutrition, the industry will continue to flourish post-pandemic. As backed up by research the consumption will skyrocket once the global recession ends.
The animal nutrition sector in India has previously been neglected. One way to overcome the consequences of this neglectful attitude is to invest in good laboratory practices and quality assurance procedures. India also needs to follow proper regulatory standards and comply with all the safety requirements to secure its exports.
Adoption of a science-based approach in addressing the food safety issues in animal feed will lead to the overall growth of the sector as well as contributing to the welfare of animals.