DISCOVER INDIA
The Emerging Hub for Functional Supplements
The Indian functional foods supplements market size was valued at USD 12 billion in 2020 and is expected to reach USD 16.5 billion by 2028, growing at a CAGR of 5.5%
There is a growing awareness among Indian consumers about the benefits of functional foods, such as their ability to improve health and well-being, boost immunity, and prevent diseases.
The largest segment in the functional foods market in India is dairy products, with a market share of 38% in 2022. This is followed by the bakery and cereals segment, with a market share of 26%.
Key Growth Drivers Fuelling Market
Indians are becoming increasingly aware of the importance of eating healthy and living a balanced lifestyle. This is being driven by factors such as the increasing prevalence of chronic diseases, such as diabetes and heart disease, and the growing popularity of fitness and wellness programs.
Indians are increasingly looking for healthier food options that are low in calories, fat, and sugar. This is leading to a growing demand for products such as functional foods, organic foods, and gluten-free foods.
The rising disposable income of Indians is making them more willing to spend on health and wellness products. This is particularly true among the urban population, which is more exposed to western lifestyles and values.
The growing penetration of e-commerce is making it easier for consumers to access health and wellness products. This is leading to the growth of online sales of these products.
NAVIGATING THE REGULATORY LANDSCAPE
Step-by-Step Registration Process
Obtain Essential Codes and Appoint a Representative
Foreign companies looking to register herbal supplements in India must first obtain an Importer Exporter Code (IEC) from the Directorate General of Foreign Trade (DGFT). Additionally, they need to appoint an authorized Indian representative to handle local procedures and compliance.
Ensure Compliance with Relevant Authorities
Depending on the nature of the herbal supplement, compliance with specific authorities is essential. If the supplement falls under Ayurvedic, Siddha, or Unani medicines, alignment with AYUSH guidelines is required. For products considered food items, product approval from the Food Safety and Standards Authority of India (FSSAI) is mandatory.
Prepare and Submit Documentation
The registration process requires the submission of various documents, including details about the product's composition, ingredients, manufacturing process, safety assessments, labeling information, and certifications from the country of origin.
Testing and Licensing
Herbal supplements must undergo lab testing to confirm that they meet Indian standards and regulations. After successful testing, companies must apply for an FSSAI License through the FoSCoS system, providing all the necessary information and documents. The License/Registration is granted after thorough scrutiny of the submitted materials.
Ensure Labeling Compliance and Post-Market Surveillance
The final step involves making sure that the product's labeling complies with Indian regulations, including any necessary local language details. Post-market surveillance and regular compliance reviews are also required to remain aligned with Indian regulations for the duration of the product's presence in the market.
Empowering your Success in the Indian Market
Taevas is at the forefront of this expansion, supporting businesses as they navigate and conquer new markets. Our comprehensive range of services for the life sciences include
Market access solutions
Unleash your business potential with seamless market entry and expansion solutions to captivate Indian market, and maximize business impact.
Propel your brand to new heights with dynamic strategies and captivating digital journeys, outpacing your competition in India.
Ignite your brand’s growth and multiply revenue with cohesive expert sales and distribution strategies strategies across Indian market.
DECODING THE PATHWAYS
Launchpad to the Indian Pharmaceutical Market
Partnering with a Distributor
Collaborate with an Indian Authorized Representative
Establish Your Own Entity
Embarking on Success with Taevas
Taevas stands ready to serve as your custom-fit partner in India, catering to your unique business requirements.
As Your Market Entry Partner
- As your Indian Authorized Representative (IAR), we ensure your regulatory compliance
- We identify potential distributors for your products and facilitate initial connections
- You will lead the further development of these distributor relationships
As Your Commercial Partner
- Along with being your IAR, we also act as your centralized distributor in India
- We identify and appoint local distributors in different regions of India, creating a wide and efficient distribution network
- You can focus on your core business, while we handle the complexities of distribution
As Your Operational Partner
- Along with being your IAR, we also initiate the building of your local presence in India
- We put together a dedicated team who takes charge of sales partnerships and manages the nuances of business operations
- We ‘Build’ the infrastructure and set up processes; we ‘Operate’ the business, and when you feel ready, we ‘Transfer’ the control to you
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