Food products with health additives see uptick in demand as second COVID-19 wave surges
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Synopsis
Since April 2020, the sector has seen a surge in demand for products including those related to digestive health, sleep and stress, said industry executives.
With Covid cases surging across the country, nutraceuticals or food products containing health-giving additives are witnessing a sharp uptick in demand and some companies are expecting up to fourfold growth in this financial year.
“Overall demand for nutraceutical, supplement, and preventive wellness products from the top four metros has seen remarkable growth,” said Sanjaya Mariwala, president of the Association of Herbal and Nutraceuticals Manufacturers of India.
Marigold And Its Healthonomics
Globally, there is a visible shift towards holistic health and wellbeing. Here’s how Marigolds protect us from heart diseases, cancer, along with promoting eye health and blood flow
Marigold, a bright colored commonly used flower in the Indian subcontinent is in fact a native of the Western Hemisphere. Of many different species (~50), only 2 species of marigold are edible – Calendula and Tagetes. The flower is highly valued as a healing herb and has various health benefits, that are enumerated below:
Lutein, a type of Carotenoid, found in the flower is an important Vitamin for maintaining eye health. It is an essential antioxidant for the eyes. Lutein, also has anti-inflammatory properties, which aids in protecting the eye tissues from sunlight. It is also known to improve or even prevent age-related macular disease which is the leading cause of vision impairment.
Synopsis
The nutraceutical industry, which is at its nascent stage, offers significant socio-economic benefits with promising double-digit growth opportunities. At the end of 2019, the global nutraceutical industry was valued at $382 billion, and India at $5 billion.
Kolkata: The Biodiversity Act 2002, which attracts access and benefit sharing and imposes multiple taxes is limiting the growth of the nutraceuticals sector and farmers, feels the industry executives.
“The Act discourages the end consumers of these ingredients such as nutraceutical companies to opt for backward integration. There is no incentive to even enter the contract farming that can support and uplift the farmers. This effort by the industry requires a commitment to investing in building agriculture capability, but BDA taxes all such effort disincentivizing the industry in investing here,” said Sanjaya Mariwala, executive chairman and managing director, OmniActive Health Technologies, and founder-president