Amway India eyes INR 100 crores from its traditional herb nutrition category in 2020

New Delhi: As the demand for herbal nutrition category records a drastic rise with consumers shifting towards healthier living, Amway India, one of the country’s leading FMCG direct selling companies, foresees its traditional herb nutrition category to clock sales of INR 100 crores this year. To accommodate the growing demand for herbal products, Amway is also gearing up to strengthen its local sourcing of herbal extracts in India. 
 
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.”

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.”