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Nutraceuticals market to reach USD 10 bn by 2022

Thursday, October 12, 2017

(L-R) Satnam Singh, Basketball Player, NBA, Noorie Gada, Professional Sports Nutritionist, Shadab Khan, CEO, GNC India, Sheru Aangrish at GNC India panel discussion #BuildingBlocksofNutrition.

Country's nutraceuticals market is expected to grow at 21% to reach USD 10 billion by 2022 from USD 4 billion now. "The Indian nutraceuticals market is expected to grow at a compounded annual growth rate of 21% and reach USD 10 billion by 2022 from USD 4 billion now. While the concept of nutraceuticals is at a nascent stage in India, it is heartening to see a significantly heightened intent to include them in daily diet to fulfil nutrition intake," GNC India CEO Shadab Khan said in a statement.

GNC (General Nutrition Centre), headquartered in Pittsburgh, US, and a leading global speciality health, wellness, and nutraceuticals retailer, is strengthening its presence in India through its association with Guardian Healthcare, the official importer and seller of GNC products in India. Globally, GNC is a multi-billion brand and has around 9,000 locations and franchise operations in approximately 50 countries.

GNC offers a premium assortment of health, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens and wellness supplements.

In India, Guardian Healthcare Services has tied up with GNC as a sole franchisee with exclusive distribution and marketing rights. Founded by Ashutosh Taparia, Guardian has a vision of establishing thought leadership position in Indian nutraceuticals market.

GNC products are now available online on the e-commerce portals as well as at the retail outlets of Guardian Healthcare and other pharmacy chains. Guardian aims to make GNC range available at 4000 stores across all metros and Tier 1 towns by 2020, the release said.

"Indians today face serious issues due to lack of complete nutrition. We have launched GNC products to India that are proven globally to have delivered desired results. We hope that through the comprehensive range, GNC would be able to guide consumers towards better way of living," Guardian Healthcare executive chairman Ashutosh Taparia said.

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