Domestic and multinational companies are vying for position in the US$500m Indian nutraceuticals market, which is growing at 40% annually.
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Companies like Amway India and Herbalife are utilising direct multi-level marketing, to reach new consumers with about their products delivered by someone known and trusted.
Other domestic players such as Reliance Wellness, Dabur, Avesthagen Himalaya, Ranbaxy Laboratories, Dr Reddy’s Laboratories, Wockhardt and GNC India and Guardian Lifecare have focused on growing large portfolios Nutraceutical products.
“Two of the recently opened GNC stores broke even within their first two months [of operation], showing India’s demand for quality healthcare products,” Asuthosh Garg, the chairman and managing director of GNC India and Guardian Lifecare, told just-food.
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By GlobalData
