Analysing Indian Nutraceuticals Market

advertisement
Mr Rajesh Kumar G
Global Scenario – Market Research
The global nutraceutical market was valued at around :$250 billion in 2014
• The market is expected to reach around $385 billion by 2020
at a compound annual growth rate of 7.5% from 2014 to 2020.
• The nutraceutical market constitutes the functional foods and
beverages market and dietary supplements market.
• Nutraceuticals Ingredients Market Will Reach USD 29.5 Billion
• Nutraceuticals Products Market Will Reach USD 204.8 Billion
in 2017
Courtesy:- Frost & Sullivan, Transparency Market Research, US
Indian Stand
Nutraceutical Market in India
90,000
80,000
70,000
In INR Crores
60,000
54750
50,000
38,600
40,000
30,000
20,000
11,500
10,000
0
2010-2011
2017-2018
Nutraceutical Market in India
2019-2020
Linear (Nutraceutical Market in India)
Courtesy:- IKON Marketing Consultants
Drivers
Preventive Approach is the Priority
 Rise in Ageing Population
 Safe to use as a daily food for a long term consumption
 Booming Economy- Increase in disposable income of population
 Increase incidence of diet & its related health issues
 Growing awareness on the importance of the nutrition & diet for long
term good health.
 Expanding Sales Channels
 Increased physician acceptance of the medical benefits of nutritional
Products


Ideal manufacturing Destination
Drivers
Copyright © 2015 Sami Direct |All rights reserved
Drivers
Earlier the food what we ate was as good as
But, Today the food what we eat is as good as
Copyright © 2015 Sami Direct |All rights reserved
The Macro - Economic Impact
Cost of NCDs in India between 2012 & 2030
Cardiovascular diseases
2.17
Mental Health conditions
1.03
Chronic Respiratory disease
0.98
Cancer
0.25
0
0.5
1
1.5
2
$ trillion Cost of NCDs
Data:- World Economic Forum / Harward School of Public Health
2.5
Challenges- Pin point Issues
 Lack
of Awareness in all the sectors to adopt
nutraceutical on daily basis
 Lack
of Analysis in Regulatory frameworks to have a
benchmark category (Reason for Yes or No)
 Lack
of Standardisation
 Affordable
price
 Lack
of Skill Set in functional areas
 Lack
of Acceptance by the Health Professionals
Current Trends
Fortified
Foods Easy to consume with the nutritious feel
Ayurvedic Nutraceuticals Ancient tradition of Rasayana concept
booms
Initiatives
modes
to Educate Consumers Trainings through various
Cosmeceuticals
& Nanoceuticals Observing the benefits both
internally & externally with similar ingredients
Foreign
Tie ups To Leverage growth in the International Markets
Facilitators - The Back bone
• Harmonize regulations Internationally:- Regulatory par with or better
International guidelines that syncs with Industry & Indian Consumer .
• R & D Centres with Innovation & technology
• State of the art Manufacturing Facilities with the world standard
infrastructure
• Educate Health Professionals to be more receptive and use more
nutraceuticals in prevention & management rather than most likely choosing
the drugs.
• Convince the Governments, Public Health initiators that Nutrition is an
inexpensive & safe means to tackle important unmet health needs
Sustainable
Thinking
Probable Solutions
• Consumer engagement model - Direct to consumer approach
• Focus on Traditional Brand Identity allowing consumers to connect with the
brand Eg:- Curcumin C3 Power from Turmeric
• Specific Product Formats- Understanding the Age/Gender/Genotype/Cultural
requirements
• Innovative Formulations-With Stability & Viability
• Focusing on Specific Health Benefits as daily food – can act on Lifestyle
• Educate on Health Needs –Shape the consumer attitudes to recognize that
nutraceuticals are the way to prevent, protect & may also manage the unmet
health needs.
The New Era
The New Approach On Preventive Health Care
Direct Channel approach
• 2010 was SAMI’s Breakthrough in Indian Market :- After Pioneering in
ingredient industry over 2 decades SAMI entered the illustrious Wellness
sector.
• How ? With the clinically relevant Finished Formulations consisting the
Herbal & Herbo-mineral based nutrition meant for Preventive Healthcare.
• Result:-Successfully introduced 23 SKUs of Nutraceuticals & 38 SKUs of
Cosmaceuticals.
• Step Up:-Recently Launched Malaysia- Jan 2015
• In Pipeline 2015-16 :-Bangladesh, Srilanka, Indonesia, Philippines, UAE
• Planning :-To launch Japan, Korea & US Market by 2020.
Paradigm Shift
• Consumer Engagement Model
• How does it work?
• Purely Consumer Segmented approach on preventive
health care
• A trust & relationship building process through the
engagement model
• A web based holistic programme rather than just
selling products
• Promote the awareness of the model to consumers
• Involve them through the e-registration
• Scheduled Focused & Optimized follow up plan
• Helping the consumers to achieve health objective
with the holistic programme
Conclusion:• Future will be – The more you engage more contented the
Consumers are So future is the
Consumer Engagement Model.
• Relationship based - Inbound two way Marketing
Model
• Time to create consumer awareness & need based
delivery.
• One has to continue the efforts for active long term
sustained desirable goal
Who are we?
Over 26+ years of world class research based natural
ingredients extract company protected by
100+patents across the world.
Dr Muhammed Majeed
Nutraceutical
Pioneers
• Over 2 decades of World Class Research
• Pioneers in the field of extracts
• World –wide presence to Support customers
• Closely associated across the globe with leading Research centre, scholars,
academicians
• Esteemed Clients around the world for our consistent quality
• Strong Research pipeline for Ingredients & Formulations
• And Now five successive years of Direct Marketing of reputed Formulations.
Take home message
Future is………..
◦Think health
Think
Nutraceuticals
Download