In Conversation With Sushil Khaitan, Founder and Managing Director - Pure Nutrition.
1. The demand for nutraceuticals has been rising for a couple of years now. How has the pandemic fueled demand?
The demand for nutraceuticals has been consistently rising, even pre-pandemic. Analysts had projected the growth of the Indian nutraceutical market to amount to USD 18 billion by 2025, and hold 3.5% of the global market share by 2023. With the pandemic, the focus on 'Prevention before Cure' has increased significantly, in turn fueling the demand for nutraceuticals. Whether it is to boost immunity and hold disease at bay, or even just opt for an overall healthier lifestyle in terms of nutrition, work-life balance and stress management, we have seen a rise in demand across all categories.
People around the world are more conscious of their choices and of what they put in their bodies. They are naturally gravitating towards nutritious alternatives, brands that they can trust as well as supplements and vitamins that aid their essential nutrient intake. We have also observed an increase in the number of queries regarding ingredients and their sources as well as organic and vegan alternatives.
Finally, nutraceuticals as a whole are also becoming increasingly tailored and solution driven and the infrastructure of the industry has also made leaps and bounds in the last decade. The flexibility in storage options, the demand for combined formulations with multiple benefits, increased consumer education levels, informed consumers, and the rise in health concerns among connected consumers are expected to fuel the demand for the market during the forecast period.
2. What are some of the key trends observed in nutraceuticals today? What are Pure Nutrition's customers looking for?
The pandemic has definitely caused a shift in consumer behaviour and consumption patterns, that are fuelling demand and giving rise to ancillary categories, interactive formats and product innovation. Some of the key trends we have observed include:
Immunity Boosters : One of the major drivers of nutraceutical consumption today is to boost immunity and overall well-being. Coupled with lifestyle and habitual changes, nutraceuticals allow us to nourish our bodies with that extra dose of nutrients that are unfortunately diminishing from our food today. In terms of highly sought-after products, we have seen an increase in the demand for functional nutrients and vitamins such as Vitamin C with Natural Amla and Orange Peel Extract, Curcumin with Black Pepper and Zinc ZMA Plus, that have immunity boosting properties
Fun and Innovative formats : There is an increased demand for nutraceuticals in innovative formats like strips, chewables and gummies that make them feel less like a traditional 'medicine'. These formats are delicious, on-the-go and also work wonders in the children nutraceutical category. Pure Nutrition Kids has Calcium and Multivitamin gummies for children that are vegetarian, gelatin-free, gluten and lactose free and come in lemon and strawberry variants.
Tailored Lifestyle Solutions : The demand for nutraceuticals across various targeted lifestyle categories has also increased tremendously. The focus on nutraceuticals to aid with beauty goals, fitness goals, sexual health goals as well as weight management goals has been brought to light with increasing awareness and education on the consumer's side. Nutraceuticals allow people to address their desired lifestyle goal without compromising on health and nutrition.
3. The Indian Nutraceutical Industry has also witnessed explosive growth and recognition on the world stage- please shed some light on the same.
The Indian Nutraceutical market is estimated to reach USD 18 billion by 2025, whereas the global market is estimated to reach USD 227.5 billion. Across the world, the COVID-19 outbreak has accelerated this growth and we are witnessing an unprecedented demand for nutraceuticals today. The Indian Nutraceutical
industry in particular, is becoming increasingly recognized and established on the world stage as well. Today's consumer is more conscious about what they put into their bodies and as a result, a high level of research is involved in the buying process. Ancient
Indian medications, formulations, herbal solutions and Ayurveda are gaining prominence across the globe, giving the Indian players a chance to strengthen their positioning as repositories of specialised knowledge. Further, being a predominantly agricultural economy, India has a high availability of ingredients for plant based formulations and natural extracts. A large population of the country is also vegetarian, and as a result Indian Nutraceutical players tailor formulations that support this lifestyle. These vegan and plant-based, natural solutions are gaining traction as the hunt for 'organic' and 'vegan' alternatives strengthens in the West. Finally, India is a global powerhouse in the pharma sector, with its ability to produce high-quality and low-cost drugs.
The Nutraceutical brands in the country also harness the same manufacturing capabilities, giving them a competitive advantage to their foreign counterparts and solidifying their presence and differentiated and high quality offering on the world stage.
4. Pure Nutrition will be completing five years in the industry, please elaborate on your journey thus far. What would you consider the brand's USP?
The last five years have been nothing short of a spectacularly gratifying journey. Pure Nutrition was conceptualised and born out of the strong belief in Nature's goodness, with targeted solutions that help you achieve your purest well-being. Our scientific formulations use the highest quality, clinically-researched ingredients with the best bioavailability for the Indian subcontinent. All products are made at GMP-certified facilities under stringent quality control procedures that guarantee supplements, at par with best in the world. Our highly potent plant-based extracts, clean and unadulterated manufacturing, our R&D practices backed by science and our in-house doctors and experts as well as highly tailored and effective targeted solutions give us our unique identity and USP in the market.
The reception in the market has also been tremendous. Within the last year, Pure Nutrition has witnessed a year on year growth of 70% CAGR and has further strengthened its stronghold in the Tier 1 markets in the country. We have a Pan-India brick and mortar presence in pharmacies and specialty stores and a robust online presence through our own retail channel, purenutrition.in
5. What are your future plans for Pure Nutrition? (In terms of product offering, category expansion, geographical footprint etc.)
Pure Nutrition was born out of the firm belief and driving mantra that "Good
Health and Optimal Wellness is Everyone's Right". After years of research and working closely with industry experts and nutritionists and by combining innovation, premium and quality ingredients and consistent customer service, we aim to be the bridge to a healthy and active life and to allow our consumers to choose prevention instead of cure.
Now that we have established a stronghold in Tier 1 markets in India, we are now looking to expand our market penetration into Tier 2 & 3 markets as well as look at international expansion into the United Kingdom and the United States of America and bring the Indian nutraceutical industry to the world stage.
In terms of product expansion, we are also looking at further innovation and R&D to produce more targeted solutions that support a plethora of lifestyle goals. We are also focusing more on Ayurveda, and crafting nutraceutical solutions that leverage the best of Indian medicine. And finally, we will also be concentrating on expanding our product range for children, that support their daily care needs with a focus on chewables and candies.
