More than half of dietary supplements in Indian market are fake

Around 60-70% of dietary supplements in the Indian market are fake, counterfeit, unregistered and unapproved, besides they are extremely difficult to be identified, as per reports by a recent joint venture of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and another business consulting firm. In this joint venture study titled, ‘Indian nutraceuticals, herbals and functional foods industry: Emerging on the global map' it is reported that the Indian market of dietary supplements currently estimates to be of nearly two billion USD and is likely to double to 4 billion USD by the year 2020.

This suggests it will grow by a compounded annual growth rate (CAGR) of roughly 16 percent during the next 5 years. The results of a survey by the ASSOCHAM Social Development Foundation which was conducted across top Indian cities in 2012 revealed that nearly 78% of adolescents in…