In order to remain fit people typically resort to all mechanisms including maintaining a balanced diet with the necessary nutrition, engaging in regular physical activity, and ensuring sufficient sleep. This has also led to the rise of the health supplement market. Brands offer a plethora of supplements designed to cater to individual needs. These include multivitamin capsules, protein powders, endurance drinks, stamina builders, and weight loss tablets. Some brands even offer a 90-day weight loss guarantee through their pills. “In the last three to four years, many direct-to-customer (D2C) brands have emerged offering supplements for weight loss, height increase, muscle mass, and protein powders, among others. The health supplement market is not highly regulated, allowing brands to make numerous claims without having to substantiate or pass through strict regulations. This is one of the downsides of digital-first brands, as many people can quickly launch a brand with little to no clinical-level substantiation,” Shiv Sethuraman, founder, The New Business and board of advisors, xQ, told BrandWagon Online.
45% of Indian consumers mostly take health supplements to prevent health issues, stated Mintel a global market research firm, in its report. According to the market research firm Statista, the vitamins and minerals market in India is projected to reach $14.50 million in revenue by 2024, with an expected annual growth rate of 9.08% from 2024 to 2029, resulting in a market volume of $22.39 million by 2029. The number of users is expected to reach 92 million by 2029, with user penetration increasing from 4.2% in 2024 to 6.2% by 2029. The average revenue per user (ARPU) is anticipated to be $0.25.
Queries sent to FSSAI, Oziva, Centrum, Kapiva, and Plix remained unanswered at the time of publishing this story.
Brands play!
Experts assert that the multivitamin and nutraceutical market operates under the rules of the Over-the-counter category thereby, these are sold under relatively lax regulations and oversight, allowing consumers easy access to these products without prescriptions or supervision. These items are widely available, often driven by Internet trends and the desire for rapid solutions. Moreover, social media frequently showcases individuals including celebrities endorsing a variety of health products, including multivitamins, gym supplements, and cosmetic medicines. “I firmly believe that transparency is paramount for players in the health supplement market, especially those offering products related to weight loss, height increase, muscle gain, weight gain, and similar areas such as whey and protein supplements. It is essential for these players to openly discuss the scientific basis of their products, avoiding the concealment of information behind proprietary formulas. Clear communication about ingredients, compositions, percentages, and other relevant details is crucial in establishing trust and transparency within the industry,” Harish Bijoor, business and brand strategy specialist and founder, Harish Bijoor Consults Inc, said.
Usually, health supplements fall into two categories- those prescribed by doctors to address specific individual concerns, and those readily available for purchase without a prescription or supervision. Brands such as Plix, Oziva, HK Vitals, Muscleblaze, Bold Care, and POD Nutrition offer a range of supplements including protein powders, weight loss drinks, multivitamin capsules or tablets, sexual wellness supplements, and protein bars, among others. For instance, Plix offers a range of supplements, from consumables to skin care, including weight loss tablets with a 90-day effectiveness guarantee to ‘skin perfecting serums’. These products are marketed through popular celebrities and influencers, showcasing testimonials for their effectiveness. Similarly, Oziva sells supplement powders for hair growth, skin glow, and anti-ageing.
Oziva’s revenue from operations declined 18.9% to Rs 100.075 crore in FY23 from Rs 123.45 crore in FY22, as per regulatory filings accessed by Tofler. It posted a profit of Rs 58.96 crore in FY23 from a net loss of Rs 62.74 crore in FY22. Plix’s revenue from operations increased 2.5 times to Rs 99.6 crore in FY23 from Rs 39.90 crore in FY22. The company’s net loss narrowed by 12% to Rs 9.6 crore in FY23 from Rs 10.91 crore in FY22. Similarly, Bright Lifecare Private Limited, which has brands such as HK Vitals, HealthKart, and Muscleblaze under its umbrella, reported its revenue from operations rose 69.5% to Rs 832.48 crore in FY23 from Rs 490.899 crore in FY22. Its net loss narrowed 50.1% to Rs 164.712 crore in FY23 from Rs 330.132 in FY22,
The brand-supplement cohesion!
It is believed that consumers were rather uncomfortable when it comes to consuming supplements on their own without a doctor’s prescription, but now, with D2C brands entering into the picture, people are getting influenced by Internet trends, influencers, celebrities and brand promotions. “Our marketing strategy combines a balanced mix of digital marketing, traditional advertising, and strategic sponsorships. In the digital realm, we leverage various platforms such as social media, search engine optimisation (SEO), and email marketing to engage with our target audience and drive brand awareness. Performance marketing on platforms such as Meta and Google is our go-to strategy in these initial days, ensuring efficient use of resources and precise targeting,” Ayush Gupta, co-founder, POD Nutrition, said.
According to industry experts, consumers today are a lot more aware of the ingredients used, and what additives are bad for their health. Hence all purchases are made consciously. Recently, a social media influencer, Revant Himatsingka aka Foodpharmer, launched a campaign titled ‘Label Padhega India’ in order to spread awareness about the need to read ingredients on labels before purchasing any item. “We make sure that we do not make any unrealistic claims, false promises or transformations that end up disheartening the user. Honest solutions are a fundamental objective for us at Bold Care, and that’s what we hold as our fundamental marketing approach – with verified claims, regular testing and constant safety checks,” Rajat Jadhav, co-founder and CEO, BoldCare, a sexual wellness brand, said.
Bold Care claims to focus solely on the Indian male audience, customising products to meet their needs. As per the company, its target age range is between 35-45, considering that Indian men may experience sexual health issues earlier. Therefore, the main audience is between 25 to 40. It claims that its notable portion of sales is from metropolitan areas and tier-1 cities. According to Gupta, the company’s current cost of acquisition is approximately Rs. 750. It further claims to on expanding within one market or city at a time, primarily targeting big metros while eyeing potential in tier-2 and tier-3 cities. “We’re expanding offline marketing, especially in tier-1 metros, with on-ground activities like tasting sessions to gather feedback and build trust. These interactions inform our marketing strategies for our vegan protein supplements,” he added.
Industry experts emphasise that both regulatory authorities and consumers must exercise caution to ensure that brand claims are substantiated. Young individuals, in particular, are urged to be vigilant due to their heightened susceptibility to unsubstantiated claims, particularly when pursuing specific physical attributes or a flawless appearance. The role of influencers and celebrities in endorsing such products is noted as crucial, prompting individuals to carefully consider whom they choose to follow and trust. It is pointed out that some influencers endorse products without personal use, while others conduct thorough research before recommending products.