Business

Amway India eyes ₹100 cr. revenue from nutrition category

Amway India said its traditional herb nutrition category would clock sales of ₹100 crore this year due to rising demand of nutraceutical products in the country.

To accommodate the growing demand for such products, the company has decided to strengthen its local sourcing of herbal extracts in India.

“There is a rising inclination towards holistic nutrition and wellness solution, leading us back to our traditional beliefs,” said Anshu Budhraja, CEO, Amway India, said,

“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, we ventured into the traditional herb nutrition space with Nutrilite Traditional Herbs Range in 2018, which received a tremendous response. Presently, comprising just six products made from native ingredients such as tulsi, ashwagandha, mulethi, and more, the range is expected to reach its ₹100 crore sales mark this year,” he said.

He said going by the market scenario, the company expects the traditional herbs range contribution to the overall nutrition category to double from 10% currently to 20% by 2024.

As part of strengthening its hold in the herbal nutrition category, the company is building a strong partner network, in line with its vision of making a tangible difference in the lives of its stakeholders.

Currently, it works with 12 Nutricert Certified partners to procure ingredients such as boswellia, cinnamon, garcinia, ginger, gymnema, holy basil, bacopa, marigold, pomegranate and turmeric.

To cater to the demand for herbal extracts, the company is evaluating to expand its organic farm base in India. It is looking to add more organic-certified herb farms to encourage local produce in the country in the coming two years, it said in a statement.

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Printable version | Jan 20, 2021 10:16:16 AM | https://www.thehindu.com/business/amway-india-eyes-100-cr-revenue-from-nutrition-category/article33233508.ece

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