With increasing awareness for health & wellness, Amway India eyes to double nutrition biz by 2025
Amway India is eyeing to double its nutrition business by 2025. The expansion plans come with increasing awareness for health and wellness.
Nutrition business accounts for over 50% of the company’s revenues in the country. For Amway, Nutrition and wellness is the largest business category globally and in India
The company has a 12% market share in the vitamins dietary supplements market that is estimated to be Rs 9,400 crore.
Ajay Khanna, Category Head Wellness, Amway India, said, "Over the last 20 years of successful operations in India, Amway India have been clocking a CAGR of 20 per cent. As for the nutrition category, we have been witnessing a steady growth with a CAGR of 46 per cent over the last 18 years, and are bullish about the opportunities presented by the nutraceutical market in India. On the back of successful growth trajectory and category potential, we aim to double the size of the nutrition category by 2025."
"For calcium, we are targeting over Rs 72 crore in the first year, which is 11 per cent share of calcium supplement market that is pegged at Rs 632 crore. With the continued focus to drive innovation, Amway India plans to invest Rs 100 crore in boosting R&D, manufacturing and digital initiatives in India over the next 2-3 years. This includes Rs 70 crore investment in R&D, Rs 10 crore in manufacturing and Rs 20-30 crore in digital initiatives," he added.