Growth agenda: India’s nutraceutical market opportunities ‘far bigger’ than the pharma sector
Growth opportunities in India’s nutraceutical industry are far greater than the pharmaceutical sector, according to industry experts, who also describe its trajectory as ‘a phenomenon’.
Ajit Singh, chairman and founder of ACG Worldwide told NutraIngredients-Asia the above during Food Ingredients India (FI-India), a tradeshow held in Mumbai between August 17 and 19.
He pointed out that India’s nutraceutical sector had experienced phenomenon growth in the past five to 10 years. In fact, he believes that growth opportunities in the nutraceutical sector are greater than that of the pharmaceutical sector, considering how nutraceuticals could be consumed as an everyday product while pharmaceuticals are only taken when one falls sick.
New product launch: China’s health foods manufacturers preferring Lingzhi to coenzyme Q10, fish oil
Health foods manufacturers in China are preferring Lingzhi cracked spores powder to coenzyme Q10 and fish oil when it comes to bringing new products into the market.
Data from China’s State Administration of Market Regulation (SAMR) showed that last year, 392 health foods filings were received for products containing Lingzhi cracked spores powder as a single raw material, more than that of coenzyme Q10 and fish oil.
Lingzhi cracked spores powder, together with coenzyme Q10, fish oil, spirulina, and melatonin, were five raw materials most recently added to the Health Foods Raw Materials Directory in March 2021. This means health foods containing these raw materials could seek China authority’s approval via the filing route.
Decline in use of supplements and oriental medicine in managing psoriasis – South Korea data
The percentage of individuals who are using health supplements or oriental medicines in managing psoriasis has declined over the decade, according to new data from South Korea.
This is despite the fact that more are using complementary and alternative medicines (CAM) in managing the condition, with diet, bath therapy and topical products the more popular options.
The use of health supplement, however, had dropped from 59.57 per cent to 54.29 per cent and that of oriental medicine down from 71.01 per cent to 67.14 per cent over the decade.
Japan’s functional food insights: Sleep, stress and skin health claims on the rise – exclusive data
Japan’s Foods with Function Claims (FFC) system had seen the entry of more products claiming sleep, stress and skin benefits in FY22, while concerns relating to the ageing population, such as muscle health, are expected to rise in the near future, exclusive new data reveals.
According to data from Japan-based nutraceutical consultancy firm Smooth Link Inc., 1,429 FFC notifications were submitted in FY2022. This is slightly less than that of FY2021, which saw 1,445 submissions.
Health claims pertaining to sleep, stress, and skin health have seen a significant increase over the past two years, based on the data.
Critical mass hit: Krill oil supplementation for anti-ageing on the rise in China – Aker BioMarine CEO
More Chinese consumers have been taking krill oil supplementation in the past two to three years, with anti-ageing as one of the most common reasons, says CEO of krill oil supplier firm Aker BioMarine.
According to CEO Matts Johansen, the Norwegian firm’s sales revenue in China has been growing by 80 per cent each year over the past two years.
This extent of growth did not come overnight for the firm, as it has been on the ground in China since 2011 and Johansen believes that a better understanding of krill oil and the entry of more brand owners into the krill oil category has expanded the market.
