Multinational firms dominate vitamins market in India

Euromonitor, too, predicted a compounded annual growth rate of 3.6% between 2017 and 2021

India’s share in the global nutraceuticals market is set to rise, but the vitamins and dietary supplements segment is dominated by multinational companies (MNCs) with limited representation from domestic firms. The top five players in this Rs 10,000-crore market are all MNCs.  

Data from Euromonitor show that the US-headquartered Amway has maintained its leadership position in the segment in the Indian market for the past five years. Its share, however, has dipped from a 43.2 per cent in 2013 to 33.8 per cent in 2016.

It is followed by Pfizer, known for its Becosules brand, with a share of 16.8 per