During the earnings call commentary for the first quarter of FY2026-27 (Q1FY27), Hindustan Unilever’s (HUL) CFO & Executive Director Niranjan Gupta said, “During the quarter, Boost crossed the Rs 1,000 crore annual turnover milestone, making it the 21st brand in our portfolio to be in the Rs 1,000-crore plus club.”
The fact that Boost has joined the coveted club assumes greater significance when one considers that the 50-year-old brand has continued to grow in an otherwise slowing health food drink or HFD category. Zydus Wellness, which owns rival brand Complan mentioned in its Q1FY27 investor presentation that as of June 2026, India’s HFD market stands at Rs 6,350 crore and has declined 7.7% year-on-year (YoY) compared to the same quarter last year. The category has grown at a compound annual growth rate (CAGR) of just 0.7% during the full year of FY26 (taking March 2021 as the base year), Zydus Wellness’ annual report states.
HFD category sees sluggish growth
Sachin Bobde, head of research, Monarch Networth Capital, says the HFD category has been growing at a snail’s pace over the last 10 years, and there are good reasons for that. Children and parents, the primary target for brands like Horlicks, 3052340 and Complan, are moving away from this category due to the high sugar and chocolate content in available products.
Consumer trust began to seriously erode since the Covid pandemic after a 2023 video by influencer Revant Himatsingka highlighted high sugar content in Bournvita, which attracted major criticism. The following year the government directed e-commerce platforms to stop classifying brands such as Horlicks and Boost as “health drinks”. Both the brands dropped the word “health” from their labels following the controversy and repositioned their brands as “functional and nutritional drinks.”
But the episode proved to be a huge blow for the entire category.
However, Boost managed to hold its own, and according to HUL, the brand has seen steady double-digit growth in the last few quarters.
Long-lasting energy
From the very beginning, when Boost introduced its tagline, “Boost is the secret of my energy”, featuring cricketer Kapil Dev in its television commercial, the brand steered away from selling generic nutrition benefits. “It sold stamina and sporting energy, a sharper territory less vulnerable to the ‘milk is enough’ argument,” says Rohit Ohri, founder, Ohriginal. Its pack-price architecture also nudged consumers to move from sachets to large packs, improving volumes.
Ohri believes Boost has managed to keep its brand relevant through its long term association with cricket. “From Kapil Dev to Sachin, Dhoni, Kohli and now women cricketers, ‘Boost is the secret of my energy’ has been passed down like a baton for four decades. Stars were signed on early in their arcs, so each generation of 8-14-year-olds has had their icon saying the line,” Ohri adds. But nostalgia is not the only reason that has kept the brand relevant.
During FY25, HUL expanded Boost into the East and West regions of India and launched Boost milkshake in the ready-to-drink format to boost on-the-go consumption. The Boost brand also entered the adult protein drink segment with Boost Protein to widen its consumer base from children to adult men and women.
Boost taps new consumption occasions
“The recent expansion into the ready-to-drink segment marks the latest chapter in the brand’s evolution, bringing the familiar Boost experience into a convenient, chilled, on-the-go format and unlocking new consumption moments for consumers,” says Rajneet Kohli, executive director, foods & refreshment, HUL. “The launch has also helped the brand engage a new generation of consumers, Gen Z, through social conversations and content.”
Ravi Kapoor, retail & consumer sector leader, PwC, says the recent moves by HUL to lift the category has shown some positive results. “These interventions by HUL and the whole buzz around moving towards better and healthier products seemed to have worked in the Boost brand’s favour,” he says.
While Brandwagon doesn’t have access to exact figures, HUL’s leadership said on earnings calls that after seeing a slight decline in FY25, Boost started to see mid-single-digit growth at the start of FY26 and for the last three quarters, it has been growing at double-digit growth.
The journey ahead will continue to be challenging. The first issue is the shrinkage of the overall HFD segment. Ankur Bisen, senior partner, The Knowledge Company, points out that competition from science-backed protein drinks and supplements and the crackdown by the Food Safety and Standards Authority of India (FSSAI) on food and drinks brands will force brands to step out of their comfort zone in search of new consumer segments.