Stressful lifestyles, hectic schedules and lack of time to cook meals at home among an increasing number of working-class males and females is resulting demand for external dietary supplements.
Reports show that "Transformation in food habits, less physical work, more desk jobs have made Indians more vulnerable to lifestyle ailments. The average urban & semi-urban Indian is becoming more conscious about health & fitness. This is providing a massive growth opportunity for Dietary Supplement Market in India"
Growth Factor of the Business
According to the report "India Protein and Herbal Supplement Market Overview, 2018-2023", India Nutraceuticals Market is projected to reach up to CAGR of more than 18% from 2017-18 to 2022-23.
One of the popular Indian companies which have successfully carved its niche in the nutrition supplement segment is AS-IT-IS Nutrition. The company is exploring to enter into the fast-growing food and groceries category by launching AS-IT-IS FOODS soon. Currently, it is working on appointing distributors in neighboring countries as they are getting huge demand through Social media from Nepal, Bangladesh, Pakistan, the Middle East, and Srilanka.
Himmath Jain and Arvind Jain Co-Founder and Director, AS-IT-IS Nutrition state, “Across India, there is an explosion of information, experiences, and data made possible by the internet and large numbers of Indians traveling overseas and domestically. The wellness space encapsulates many aspects including physical fitness, grooming, personal space, nutritional space, and others. It is a big industry and I predict it will continue to grow phenomenally.
Tug of War Between Brands Result in Confusion
A study reveals that the population that falls under the age group of 19-40 is consuming the nutritional supplements more than other age groups, which is why all the international and domestic brands are entangled in the tug of war to prove they are the best. This has created a lot of confusion, especially in the tier-III & IV cities.
Himmath says, “We’ve been in the nutrition vertical for over 10 years during which we’ve been manufacturing, marketing, and selling nutrition supplements. We did considerable research before launching AS-IT-IS Nutrition.
Our research revealed 1,500 protein supplement brands sell on Amazon. Each brand of protein has different ingredients and composition. Such differences between protein supplement brands create confusion in the minds of consumers. Consumers are unsure of which supplement to buy and become more confused as new brands are launched every day.
To address this confusion, we created a simple and elegant product that was easy to understand.”
Opportunities in the market
Arvind says, “Those living in small towns are exposed to social media including Facebook and Instagram which makes them want to look as good as others online. People living in small towns, cities, and villages also watch movies online and want to be thin and fit like their star idols.
Hence there is a dramatic change at the bottom of the pyramid in India and demand for fitness related services and nutrition is growing rapidly in this segment. Very soon the market for fitness services and nutrition in the hinterland will eclipse that in the largest cities. This is because India is primarily a bottom of the pyramid market; so naturally, huge opportunities exist in this market.”
