Health Consciousness in India Boosts Dietary Supplements Market

BillionFit: Technology Redesigning Healthcare a joint study by Kalaari Capital and accounting and advisory firm Grant Thornton says that with India’s consumers now invested in healthier lifestyles, the fitness technology segment will double to $250 million by 2023. Wearable fitness devices such as fitness trackers, and smart technology such as smart shoes, stride sensors, and clothes integrated with  wearable technology will account for 90% of this projected growth.

Additionally, this awareness for good health will boost India’s dietary supplements market which is projected to expand at an estimated compound annual growth rate of 12% over the next four to five years. Online retailers such as Healthkart, Amazon, Medisys and Neulife are increasing their stocks of ‘super’ foods and supplements.

Wellness

Nutraingredients-asia quotes Vrinda Mathur partner at Grant Thornton who says, “The global realm of healthcare has radically shifted from ‘detect and manage’ to ‘predict and prevent.’ This change in mindset, combined with the rapid technological and socio-political impetus on improving health, is resulting in a fitness and health boom across the world.”

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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