The nutraceutical supplements and excipients market in India is witnessing significant growth, driven by a number of factors, including rising awareness of health and wellness, increasing disposable incomes, and a growing aging population. A leading global provider of premium excipients for (bio)pharmaceutical and nutraceutical industries approached Netscribes to gain insights into India’s nutraceutical excipients market. Read how we provided the client with actionable insights that helped them formulate growth-oriented strategies and strengthen their market position.
Objective and challenges
The company approached Netscribes with a dual objective: gaining insights into India’s nutraceutical excipients market and understanding prevailing trends in the broader supplements industry. They requested:
- An in-depth analysis of India’s supplements and excipients landscape, including key drivers, trends, and a value chain assessment
- Market size estimations for both nutraceutical supplements and excipients, in terms of volume and revenue
- Evaluation of major competitors, their market share, and product/pricing strategies
- An assessment of recent developments, particularly the impact of COVID-19 on these markets
Solution and approach
To meet the firm’s market research requirements, we conducted a primary survey using the following methodology:
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- Telephonic interviews were conducted based on close-ended questions
- A total of 16 interviews were conducted across the country which included 2 expert interviews and 5 stakeholder interviews for the supplements market, and 2 expert interviews and 7
- stakeholder interviews for the excipients market. The length of the interview was 30-45 minutes
- The pool of respondents comprised of the following:
- Supplements: Industry experts – Senior sales and marketing people from leading supplement manufacturing companies, head of departments in the procurement or manufacturing wings
- Excipients: Head of research and development divisions, innovation teams, manufacturing and operations heads, procurement leads for major excipient and supplement manufacturing companies
Results delivered
By conducting comprehensive, we provided the client with in-depth insights on:
- Market size in volume
- Market size in revenue
- Key market drivers and trends
- Regulatory landscape in India
- Supplements and excipients landscape in India
- Major supplement categories and their excipients usage
- Key information on supply chain stakeholders (export vs. import)
Client benefits
Our detailed market research report provided actionable insights into the nutraceutical supplements and excipients space. It also equipped the firm in formulating growth-oriented strategies aimed at expanding their partnerships with key stakeholders, including supplement manufacturers, international suppliers, and contract manufacturers, thus strengthening their market position.
