News featured in NuFFooDS Spectrum India
NuFFooDS Spectrum India, a leading B2B media platform in nutrition, nutraceuticals and dietary supplements, functional foods and beverages, ingredients space since 2013 has launched its first ranking special edition in February 2021. The survey looked at only the nutraceutical industry with companies specializing in vitamins/ minerals/nutrients (VMN). The companies (both MNCs and domestic players) were highlighted based on their achievements over the previous financial years.
With over 1000 companies actively involved in the business of manufacturing and selling nutraceutical products comprising VMN, the Indian nutrients market has registered a growth of 10.5 percent in 2019-20 to garner Rs. 23,893 crore against the previous year’s sales revenue of Rs. 21,616 crore. Indian companies contribute 66 percent of the total Nutra (vitamin/ minerals/ nutrients) industry while the remaining 34 percent comes from the MNCs. The Western region is dominating the nutraceutical industry as 71 percent of the companies are based in this region, followed by the Southern region, home to 21 percent of the nutraceutical companies.