Fitspire Enters into $17 bn Vegan Skincare Market

With a major focus on omega, collagen, and biotin, Fitspre  to redefine the vegan skincare industry

Natural, Vegan, Cruelty-free, and eco-conscious skincare products

New Delhi, November, 23, 2023: Fitspire, a leading vegan and plant-based personal wellness brand,is set to disrupt the $17 billion global skincare market by launching plant-based Biotin, Collagen,and Omega products.

The entry into the category caters to the burgeoning demand for cruelty-free skin-care products in India. Besides, Fitspire aims to enhance its position as a one-stop solution for Indian consumers seeking a complete range of vegan, natural, clean, and cruelty-free products to support their fit and healthy lifestyle.

Founded by IIM Lucknow alumni Vipen Jain in 2020, Fitspire offers over 80 vegan products to promote a fit and healthy lifestyle.

Speaking on the new category launch, Vipen Jain, Founder & CEO at Fitspire, said, “The demand for cruelty-free and eco-conscious choices is gaining momentum, and the rise of vegan beauty products has become a phenomenon. Consumers are now embracing products that are manufactured ethically. The global market is expected to touch $21.4 billion by 2027, and we expect to be a significant player globally by then.”

Industry reports suggest that the Indian Vegan Cosmetic market is expected to grow above 7.17% CAGR from 2023 to 2028.The skincare range (biotin, collagen, and omega) is experiencing a remarkable shift towards vegan and plant-based products.

“Keeping in mind the massive growth potential, Fitspire expects to penetrate 5 percent of the market that will help boost our overall revenue by 10 percent by 2025,” Vipen added. The products will be retailed across offline stores and online marketplaces.

Fitspire was already leading the way in Health and Wellness with Impressive H1 Growth, with an extraordinary 10x growth this year. With an ambitious revenue target of Rs300 crore over the next three years with its diverse array of vegan offerings.

Fitspire's dedication to reaching every part of the country is evident in its current footprint across over 15,000 pin codes.

This expansive coverage guarantees accessibility to all Fitspire products, from urban to rural areas, resonating effectively with its robust customer base of one million individuals.