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There are small narratives and there are grand narratives. And somewhere in the middle, teams, organisations, and industries connect the dots, defining their reasons for existence with stories of their own.

Today, we will explore one such space—between a black swan event that has rocked the world and the ever-present human instinct to survive. And a sector that is crafting a powerful story for itself by connecting those dots in the middle. If you haven’t guessed it already, the event that has rocked the world is the pandemic, and the sector is nutraceuticals.

And that shouldn’t be surprising, really. Its key product is small, affordable, and designed to make the consumer feel strong. Just what one needs when there’s a pandemic doing the rounds. Or at least, that’s the pitch.

And Indian nutraceuticals have been in the news recently.

Last month, the Food Safety and Standards Authority of India (FSSAI) operationalised new nutraceutical regulations whose objective is to “remove ambiguity and bring more clarity”. Ahmedabad-based nutraceutical maker Sankalp Life Care announced a tie-up with NSE-listed Vaishali Pharma, with the latter taking over the international marketing for Sankalp’s nutraceutical portfolio. Nutrify Today Academy, a capacity building platform for the nutraceutical sector, launched an online certification programme to get professionals “industry-ready”. And then went on to announce a Global Nutraceutical Summit in India, with the aim of putting the country on the global nutraceutical map.

All these, small and big alike, are part of an optimistic growth story that estimates that Indian nutraceuticals will reach US$100 billion in value by 2030.

Indian nutraceutical makers spin a formulaic growth story

Every story character needs some strengths. Something that differentiates them from the rest of the crowd and has the potential to turn them into a hero.

In the case of a young Indian nutraceutical sector that wants to go global, one of those strengths seems to be India’s history and connection with Ayurveda, which the industry believes will help it gain global acceptance. Another strength is geographical—companies in India have access to botanical raw materials and expertise.