One of the many changes brought by the COVID-19 pandemic is the rise of healthier lifestyles.
And riding this demand are direct-to-consumer (D2C) brands with dedicated product lines to immunity boosters and vitamin supplements. In fact, a report by Deloitte claims that the Indian nutraceuticals market is expected to grow at a CAGR (compound annual growth rate) of 21 percent in 2022.
“What was earlier a ‘fitness enthusiast’ market is now a proactive health aware market. More consumers are taking care of their body and have actively increased consumption in this category,” Rahul Chowdhri, Partner at Stellaris, tells YourStory.
The emergence of nutraceuticals startups is further signified by investor interest in the market. According to data by Tracxn, out of the top 50 Indian startups in the segment, 20 have raised funding in 2020 and 2021.
This demand is also rising in terms of diversification, as more and more startups are focusing on health foods and beauty products as well.
“Look better and eat better are both super core needs, and brands want to diversify the problems they tackle,” says Cathy Guo, Manager, Investments and Portfolio at Antler.
The Interview
There has never been a better time to run a D2C beauty or personal care brand in India. To understand the factors driving the growth of the sector, hear from industry pioneers on the third episode of ‘Scale to Succeed’ by HSBC, in association with YourStory.
Editor’s Pick: App Friday
With many of us now working from home, emails have become integral to our functioning and communicating at work. However, traditional inboxes don’t tend to be conversational.
Enter Spike, which makes email flow conversational, turning back and forth emails into a text message-type layout, making it easier to keep track of the conversation. Read more.
Startup Spotlight
Social networking platform for entrepreneurs
When Neeraj Joshi wanted to bounce his startup ideas off to entrepreneurs, he realised most wouldn’t respond. Even entrepreneur-focused communities didn’t help.
So, he decided to create his own community of entrepreneurs and founded PushStart, a social networking platform that enables conversations, discussions, problem-solving, and having an entrepreneurs’ “tribe”. Read more.
- Polygon launched Polygon ID, an identity solution that offers users additional privacy and control. The blockchain network intends to use zero-knowledge (ZK) proofs to generate a digital identity that does not divulge users’ personal information.
Before you go, stay inspired with…
“We need to constantly keep walking on a strenuous path and expand our business. If the business becomes huge, lakhs of people will get a source of income and they will devote their life to provide service to mankind.”
— Uday Kotak, Kotak Mahindra Bank
Now get the Daily Capsule in your inbox. Subscribe to our newsletter today!
