Over the years the nutraceutical industry has witnessed immense growth and a steady shift towards evolution. The Indian nutraceutical industry which currently spurs sales of approximately $3 billion is expected to reach upto a massive $20 billion in the upcoming 5 years. Let’s dig in a bit deeper to understand how this growth is co-related with the purchase of your favourite immunity booster.
Just over a year ago, nobody thought that a horrendous disease was waiting for us right around the beginning of the year 2020. It was on 21st, March that our respected P.M announced a 21 day lockdown which left us with that nostalgic question, how long is this going to last?
Well, for some (introvert nerds) it was the best time to enjoy the work from home allowance. As it gave them everything they desired, a bed, laptop and the solace that they always needed. But for most of the people, the novel coronavirus was a reminder to shed a light on their nutritious intake along with an initiative to build a stronger immune system, as a wise man once said “prevention is better than cure”.
As it may seem surprising, coronavirus is just one of the reasons that ignited this fire to increase focus towards your nutritious intake. It also has a very neurological relation with the way we are perceived on social media, yes you heard me right. Over the years social media platforms which are more photo and video centric have evolved with a notion to give you a digital identity and in return you just need to look good, dance or just mimic a few lines from a famous song and yes you are a digital earner, an influencer. All this with the rising household incomes have motivated the youth with the notion to look good and be more health conscious.
Pandemics are not common and the last pandemic that killed more than 50 million people occurred more than a century ago, it was called the ‘Spanish flu’. The WHO with the help of other scientific advisories has tried to warn us on multiple occasions to start preparing for a deadly pandemic on a global level. However, world politics is a notorious business to contemplate and the fatality rate of this horrific disease might be the apt answer. All these actions lead us to a certain analogy that the Indian nutraceutical industry which results in just 1 per cent of the global exports shares a true potential to reach to an exponential level in the upcoming years.
Now, it is time to come back to the initial question, why is it the best time to create a supplement brand? Well, the answer lies within the increasing demand in the nutraceutical industry along with more people trying to pre nurture their immunity along with the notion to look better and feel healthy. Nobody wants to pay a hefty sum to source their mass gainer or immunity booster from a country which not only sells the product at high prices but also requires a custom clearance fee. It's always better to find products that are manufactured domestically to save a lot of money and simultaneously support the vocal for local initiative.
Well, creating a brand is not an easy task but it can be made easy if you outsource the manufacturing of your supplement if you can connect and find some good mass gainer manufacturers in India or even third parties who are already processing and creating protein supplements. You just need 30-40 lakhs depending upon the order quantity that you are aiming for and a lab that can check and test the sample given by the manufacturer. You will need a lot of research future of the sports nutrition industry in India to understand the demand, supply and the basic requirement of the Indian audience.
However, you will still need to spend a good amount on the marketing part as people cannot know if there is a sale going on if they don’t know where the actual action is going on. Just focus on the quality of the product, create a brand, keep the prices competitive, get your product tested and finally save a lot of money for the marketing part, thus, you have a successful supplement brand up and running. Keep up this pace and solve the on-going issues of supply chain and customer support, and you might break even before any of your competitors.
Nutriwell was formed with the vision to partner with companies & manufacture high quality health & wellness products using superior technology and continuous innovations to provide maximum value to our customers.
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