· The category is expected to grow at a CAGR of 32% from 2020 to 2024
· Traditional Herbs Range contribution to the nutrition category to double by 2024
· Foresees sourcing requirement to rise significantly for traditional herb extracts
Reinforcing its commitment to the Government of India's ‘Make in India’ agenda, Amway continues to locally source ingredients for manufacturing its high-quality nutrition products. A leader in the nutrition space, Amway is renowned globally for its nutrition category brand – Nutrilite. In India, too, Nutrilite holds significant brand equity. Going by the trend of prioritizing holistic nutrition and wellness, the company foresees the nutrition category to grow faster with the current contribution of over 50% to 65% by 2024, which includes a significant contribution from the herbal nutrition segment.
Commenting on the category, Mr Anshu Budhraja, CEO, Amway India, said, “There is a rising inclination towards holistic nutrition and wellness solution leading us back to our traditional beliefs. The trend of going ‘back to local’ has accelerated the consumption of ingredients such as Tulsi, Ginger, Turmeric, Amla and more such herbs. With the growing consumer preference for herbal, Amway ventured into the traditional herb nutrition space with Nutrilite Traditional Herbs Range in 2018, which received a tremendous response. Presently, comprising of just six products made from native ingredients such as Tulsi, Ashwagandha, Mulethi, and more, the range is expected to reach its INR 100 crore sales mark this year. Further, a recent report suggested that in the last few months, more than 51% of the households in India[1] have made these traditional ingredients a part of their diet, which indicates huge potential for this category in the years to come. Going by the market scenario, we expect the traditional herbs range contribution to the overall nutrition category to double from 10% today, to 20% by 2024.”
The Nutrilite Traditional Herb Range from Amway offers an assured level of Purity, Safety and Potency of herbs as it passes through a stringent seed to supplement process ensuring a world-class quality product. The herbs used in the product are DNA fingerprinted to ensure the right species and quality of herbs with active form and free from any contamination. To guarantee the potency of the product, these herbal supplements are prepared from certified non-GMO sources to prevent any unknown health hazards and ensuring safety. Further, these supplements are developed at Amway’s manufacturing facility that follows Good Manufacturing Practices to maintain the safety, proper identification, and highest quality of the product.
Talking about the traditional herbs range nutrition category growth, Mr Ajay Khanna, Chief Marketing Officer, Amway India, said, “In India, consumers are increasingly growing health-conscious, and this megatrend of the holistic approach to wellness will drive the next phase of growth for Amway. In line with the emerging trends, we have observed a spike in the sale of immunity supporting nutrition products, including the herbal nutrition range. The consumers today are showing a strong resonance for the herbal products, and especially amongst the youth, there is a growing preference for traditional herbal ingredients. Keeping these trends in mind, we foresee the category to grow by three times at a CAGR of 32% from 2020 to 2024. To further build momentum, we will continue bolstering the category with product innovations, from time to time, to have a strong pipeline of launches in line with the market requirement, alongside new and innovative ways of communication targeting the youth.”
Further, speaking about the sourcing, Mr Budhraja added, “At Amway, we remain committed to the Atma Nirbhar Bharat vision and are well on course to support a self-reliant India by sourcing the raw materials from the NutriCert certified organic farms in India. This aspect also helps us maintain the quality of our products.”
As part of strengthening its hold in the herbal nutrition category, Amway India is building a strong partner network, in line with the company’s vision of making a tangible difference in the lives of its stakeholders. Currently, Amway India works with 12 Nutricert Certified partners to procure ingredients such as Boswellia, Cinnamon, Garcinia, Ginger, Gymnema, Holy Basil, Bacopa, Marigold, Pomegranate, Turmeric, and so on. Lately, with the growing sales of herbal nutrition products, Amway India has witnessed a sharp rise in demand for herbal extracts. To cater to the rising demand, Amway is evaluating to expand its organic farm base, in India. The organization is looking to add more organic certified herb farms to encourage local produce in the country in the coming two years. Amway’s investment in organic farming solutions is further supporting the transformation of the local economy and the overall lives of the medium and small-scale farmers.
Amway is one of the world's largest owners and operators of organic farms adding to its renowned traceability program.
About Nutrilite Traditional Herbs Range
The Nutrilite Traditional Herbs range comprises six products - Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha, Nutrilite Amalaki, Vibhitaki, and Haritaki, Nutrilite Madhunashini, Shunti and Twak and Nutrilite Vasaka, Mulethi and Surasa. The Nutrilite Traditional Herbs Range from Amway offers benefits of Organic Certified Herbs and DNA Fingerprinted herbs which is unique and one of its kind currently available in the market. The range is compliant to the new Nutraceuticals Regulations i.e. The Food Safety and Standards (Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Functional Food and Novel Food) Regulations, 2016 (‘Regulations’), issued by Food Safety Standard Authority of India (FSSAI).
About Amway India
Amway India is a wholly owned subsidiary of Amway with headquarters located in Ada, Michigan, USA. Amway is the world's #1[1] direct selling company with presence in over 100 countries & territories.
Globally, Amway is 60 years old, US$ 8.4 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 750 patents granted and another 220 patents pending. Amway has more than 500 scientists, engineers, and technical professionals who extend our innovation and science capabilities through 11 locations to deliver global, regional, and local product research and development.
Amway India sells more than 140 daily use products across categories like Nutrition, Beauty, Personal Care, Home Care and Consumer durables through Amway Direct Retails and Direst Sellers who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use[2].
Amway products are popular not just in India but across the world. Nutrilite is the world's No. 1 selling vitamins and dietary supplements brand[3]. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Artistry is India’s No. 1 premium skin care brand[4]. Amway India also offers ‘Attitude’, an entry level premium skincare and cosmetics brand targeted at India youth. The product range has been developed taking the needs of Indian consumers into consideration.
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