The nutraceuticals market in India is expected to grow from an estimated $4 billion to $18 billion by the end of 2025.
The dietary supplement segment makes up more than 65 percent of the nutraceutical market and is growing at a rate of 17 percent and is likely to grow at 22 percent per year, especially as preventive health has become the focus for everyone in the current pandemic, said a 2020 report from the International Trade Administration.
Founded in 2019 by Avnish Chhabria, based in Mumbai is a research-based whole food nutrition startup using plant-based ingredients to provide organic, non-GMO vitamins and minerals that are not chemically synthesized.
Although it’s only been three years since the startup was founded, Avnish has been hard at work since 2016 when he started researching at the Johns Hopkins Universitya private research university in Baltimore, USA, to innovate products in the nutrition space.
A lifelong athlete, Avnish has participated in six Ironman Triathlons globally. In 2016 he realized that all the nutrition he was consuming was imported.
“I couldn’t recognize a single Indian nutrition brand that gave me clean, organic, plant-based nutrition. This made me realize that there was a lack of technology transfer and innovation in the Indian ecosystem,” says Avnish, founder of Wellbeing Nutrition. Your history.
“What started as research at Johns Hopkins University made me wonder, ‘Can I rediscover the way nutrition is sold in India?’” he recalls.
The team and the product
The team works with more than 20 researchers, including Dr. Rainer Duchmann, a gastroenterologist from Germany; Dr. Anne Marie Fine, US-based researcher; and Dr. Paula Simpson, a biochemist and scientific evaluator for Health Canada.
Wellbeing Nutrition’s main product lines include daily wellness (Daily Greens, Matcha Tea, Vitamin C, Grandma’s Kadha), functional nutrition (hair, sleep, B12, D3), and organic nutrition for children (multivitamins, probiotics, omega-3, immunity, vitamins).
“Our goal was not to look at nutrition as medicine because consumers don’t want to feel like they’re taking whatever the doctor prescribes. They want to feel great and included, but they also want it to fit their lifestyle and taste great,” says Avnish.
“We look at lifestyle issues facing GenZ and millennialsand solve them through interesting formats while being 100 percent plant-based.”
Vitamins and supplements as a product category contribute 69 percent of revenue timed by Wellbeing Nutrition. These include Melts, made for both adults and children.
“Patients who had trouble swallowing pills were given strips to keep on their tongue. The technology was available in Germany, but no one has innovated in technology, what are we doing. We take really old pharmaceutical technology and innovate and make it more interesting for everyday nutrition,” he explains..
All products are manufactured in a FDA (Food and Drug Administration) approved facility following good manufacturing practices. the ingredients come from 19 countries and more than 200 organic farms and companies that have certified, patented and clinically studied data for each of the nutrients.
“This is challenging for the supply chain, but we have spent the last four years refining the entire value chain and supply chain operations because we source from so many different countries,” says Avnish.
Milestones and growth
The business follows an omnichannel retail distribution model. The startup has a presence in more than 1,200 multi-brand retail stores, along with major pharmacy chains in India, including WH Smith, Relay, Natures Basket, Spencer’s, Apollo Pharmacy 24×7, Health & Glow and Lakme Salons. Wellbeing Nutrition also sells on online platforms like Amazon, Flipkart, Healthkart, Nykaa, along with the company’s website.
The brand has also started operations in the UAE, UK, Singapore, and the US, and is available in over 200 international stores.
The startup has a 37 percent repeat rate on their website, with approximately 6,500 orders through the website each month. The brand also receives more than 7,000 orders through Amazon each month. Since it began operations in 2020, the startup claims that it has seen 700 percent growth year over year.
On March 23, 2022, Wellbeing Nutrition launched the range of organic products for children (oral thin strips) based on USDA certified plants. in association with Disney and after 2.5 years of research.
“The goal was to find a nutritional solution that had higher bioavailability, used only bioactive ingredients, and was also palatable to children,” says Avnish.
In 2021, Wellbeing Nutrition raised $2.2 million in a Series A round led by Fireside Ventures and ACG Worldwide. Previously, in September 2020, the startup had raised an angel round of $400,000.
Looking to the future
In the coming year, the brand plans to launch new product lines and categories, including collagen, protein, digestive fiber and women’s wellness products.
Wellbeing Nutrition is also looking to expand into three key international markets: the UAE, the US and the UK, with the goal of reach more than 4,000 households by 2023Avnish says.
Wellbeing Nutrition has many direct and indirect competitors, including the one in Mumbai.based in Jaipurbased in Mumbai The Green Snack Co, based in Delhibased in Lucknowand based in Noida and among others.
.
