The nutraceutical industry is currently experiencing significant growth and market demand. Nutraceuticals are defined as products that provide health and medicinal benefits, including dietary supplements, functional foods, and beverages. The global nutraceutical market is projected to reach $722.49 billion by 2027, growing at a CAGR of 8.3% during the forecast period. India's nutraceutical market is prepped to be a global leader at USD 4-5 billion which is expected to grow approximately USD 18 billion by early 2030.

One major market trend driving this growth is the increasing awareness of the importance of preventive healthcare and the need for natural, non-synthetic alternatives to traditional medicines. Consumers are becoming more concerned about their diet and overall health and are seeking products that are safe, effective, and backed by scientific research. Nutraceuticals biotech companies are responding by developing innovative products that address specific health concerns, such as digestive health, cognitive function, and immune support.

Another factor contributing to the growth of the nutraceutical industry is the aging population and the rise in chronic diseases. As the population ages, there is a greater need for products that help support healthy aging and prevent chronic diseases such as diabetes, heart disease, and cancer. Nutraceuticals offer a more natural way to manage these health issues while providing a range of other benefits, such as weight management and improved mental health.

Furthermore, the COVID-19 pandemic has also accelerated the demand for nutraceuticals as consumers look for ways to boost their immune system and protect themselves from illness. Vitamins, minerals, and other supplements have seen a surge in demand during the pandemic, with many consumers opting for immune-boosting nutraceuticals to support their health.

In conclusion, the nutraceutical industry is poised for continued growth and expansion as consumers seek natural and effective alternatives to traditional medicines. Biotech companies that focus on scientific research and innovation will be able to capitalize on this trend and provide the market with the products it needs. As the market continues to evolve, it will be important for companies to stay up-to-date with the latest trends and developments to remain competitive in the industry.

Moiz Palgharwala is Chief Operating Officer (COO) at Influx Healthtech Ltd. and has more than a decade of experience in field of nutraceutical manufacturing.