Nutraceutical Product Market in India | Marketing Management Case Studies

Details

Case Code : CLMM022
Publication date : 2005
Subject : Marketing Management
Industry : Pharmaceuticals
Length : 03 Pages
Price : Rs. 100

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Key words:

Quality of Life, Lifestyle Disorders, Dietary Supplement, Nutraceuticals, Nutritional Deficiencies, Nutraceutical Market, Medical Costs, Export Market, Health & Glow, Pharma Companies, Dupont, Bunge, Solae, Sami Formulations

Note

1: This caselet is intended for use only in class discussions.
2: More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US $16) per copy.

Abstract:

In India, the nutraceutical market pegged at Rs 16 billion, is still evolving. With increasing awareness about health and the risk of lifestyle disorders, consumers are looking at nutraceuticals as effective products. The caselet analyzes the reasons behind slow growth of this market. It examines the efforts being made by Indian nutraceutical product companies to increase the pace of the growth by launching products that appeal to Indian customers and exploring more distribution channels.

Issues:

   » Consumer beliefs and attitudes
   » Brand building and brand awareness in nutraceutical market
   » New product development and product management in nutraceutical market
   » Quality initiatives in nutraceutical market

Introduction

Over the past few years, the growth in the economy has improved the quality of life of Indian consumers. However, they are also exposed to lifestyle disorders.

Doctors point out that lifestyle disorders like hypertension, obesity, acidity and fatigue are due to change in food habits, stress at the workplace, and changes in lifestyle.

This has created a niche in the Indian consumer market in the form of nutraceuticals. There is no clear-cut definition for the term, but it is commonly used for any food or dietary supplement that provides a health benefit...

Questions for Discussion:

1. Which market segments should a nutraceuticals company concentrate on and why?

2. Analysts point out that companies are not doing enough to expand the market. What can nutraceutical marketers do to expand the market?

3. How different is healthcare advertising from FMCG advertising?