Nutraceuticals in preventive healthcare: Regulatory advancements and market growth highlighted at ASSOCHAM Summit
Experts at the 10th Nutraceutical Summit emphasise regulatory frameworks, market expansion, and the integration of Ayurveda in preventive healthcare
At ASSOCHAM’s 10th Nutraceutical Summit, themed “Shaping the Future of Preventive Healthcare”, Dr Srinivas Rao Chinta, Joint Advisor at the Ministry of Ayush, Government of India, underscored the significance of nutraceuticals and the role of regulatory bodies in overseeing products for daily consumption. He highlighted the relevance of Ayurveda Dincharya (routine) and its integration into modern nutraceuticals, citing the Ayush Aahar category, launched by FSSAI in collaboration with the Ministry of Ayush, to ensure compliance with traditional Ayurvedic practices. He also called for advancing regulatory frameworks to enhance efficiency and safety, stressing the importance of streamlined licensing in this growing sector.
Dr Pirthi Pal Singh, Vice President and Head of R&D at Tirupati Group, discussed industry fundamentals and trends, noting the global nutraceutical market’s 7 per cent CAGR growth and India’s 19 per cent growth rate.
Dr Narendra Deo Tripathi, Vice President of Operations and Regulatory Affairs at H & H Healthcare and Cosmetics, addressed market challenges, including counterfeit products, standardisation, and the need for stronger quality control.
Dr Vivek Srivastav, Senior Vice President at Zeon Lifesciences, emphasised nutraceuticals’ role in promoting health and advocated for personalised fitness approaches.
Concluding the session, Sandeep Verma, Co-Chairperson of ASSOCHAM National Wellness Council and Country Head at Bayer Consumer Health India, Bangladesh & Sri Lanka, projected significant industry growth, driven by personalised nutrition and AI-driven supplement innovations.