Almost two decades back people in India were not at all bothered about health, but now things have changed drastically. The popular health culture of the West, the obsession to look good and intense competition has created a general awareness regarding health and nutrition.
This has led to a spur in the demand for health and nutrition-based supplements in India. According to market reports, “The dietary supplements market in India is expected to grow at a CAGR of 20% from 2015 to 2023. Vitamins and minerals occupy a larger share of the pie in the Indian dietary supplements market – 40% – followed by the herbal segment contributing 30%, proteins segment contributing 25% and other segments contributing around 5% of the total market.”
Despite the enormous growth, the health & nutrition supplement industry is facing the issue of fake and spurious products. The number of fake supplements is increasing. The idea of building iron physique by consuming cheap protein and vitamin supplements has ruined the health of many consumers. There are numerous media reports on the growing industry of fake supplements. As per a joint report by ASSOCHAM & RNCOS around 60-70 % of health supplements sold in India are fake.
ASSOCHAM predicts that the market for dietary supplements will increase to $4 billion by 2020. With this massive growth in perspective, counterfeiters will speed up their illicit activities of manufacturing and selling fake supplements in the market.
The problem of fake supplements is not just limited to India but is also affecting countries in the West. Recently, the global retail giant Amazon issued warning notices to its consumers regarding the fake supplements which they had bought online.
Health supplement manufacturers can play a pivotal role in curbing the menace of fake health supplements. They can use different kinds of anti-counterfeiting products and solutions which help in product authentication and tracking & tracing the product supply chain. Effective and timely use of anti-counterfeiting solutions can prevent the likelihood of counterfeiting, tampering and diversion. The diligent move benefits both the manufacturers and consumers in the long run.
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