Rise and Rise of the Indian Nutra Market

The Indian Nutra market contributes 0.9% of the $117 billion global Nutra market. Estimated at $1 billion and growing with a CAGR of 18%, it makes the Indian Nutra Market one of the fastest growing markets globally. Since a while now regulations pertaining to Nutraceuticals were quite unclear in most of the countries barring a few like US, EU and Japan who have had a clear regulatory framework for nutritional supplements. The Indian industry has now followed suit. The Food Safety and Standards Authority of India (FSSAI) which has been established under Food Safety and Standards Act, 2006 which consolidates various acts & orders that have hitherto handled food related issues in various Ministries and Departments. FSSAI has been created for laying down science based standards for articles of food and to regulate their manufacture, storage, distribution, sale and import to ensure availability of safe and wholesome food for human consumption. "The Food Safety and Standards Regulations, 2011” has been notified in the Gazette of India dated 5th May 2011. With the implementation of these guidelines supplement manufacturers would now have to comply with the Indian regulatory requirements right from Product evaluation, to licenses, manufacturing & claims.