NUTRACEUTICALS and PHARMACEUTICALS

The global nutraceutical’s market is growing at a robust pace and is projected to exceed $243 billion by 2015. The growth would be driven by the adoption of a healthy lifestyle by consumers and increasing scientific evidence that supports the use of nutraceutical products for the same. Further, the growing beauty fixation coupled with the introduction of nutraceutical supplements claiming to enhance beauty is also expected to stimulate growth in the market. The United States, Europe and Japan dominate the global market, accounting for a combined market share of more than 85%. These three regional markets are expected to remain at the forefront of the nutraceutical market, both as producers and consumers. The emerging markets including Asia-Pacific, Middle East and Latin America, although small, are expected to grow at a faster pace as compared to developed markets

Omega-3 is increasingly used as a nutritional supplement due to its claimed ability to prevent heart disease, cancer, and ability to boost the overall immune system. According to Euromonitor, Omega-3 consumption grew by 10% during 2008-2009 to reach 13,218 tons (raw volume) in 2009. During the 2004-2009 period, consumption of raw Omega-3 increased 50-folds. The consumption is expected to grow at a CAGR of 24% going forward to reach 16,332 tons in 2014.