Direct selling company Amway India has decided to foray into the Chyawanprash category under the brand Nutrilite. This comes at a time when consumers are increasingly turning to traditional herbs and immunity-boosting propositions and the category witnessed massive growth.
Anshu Budhraja, CEO, Amway India, said in the first year the company aims to capture 20 per cent of the premium Chyawanprash category which is pegged at over Rs 100 crore.
“Amway’s formidable presence in the vitamin and dietary supplements market with sharp focus in the traditional herbal category made it natural for us to extend into the Chyawanprash segment. Leveraging the expertise of our Nutrilite range, Chyawanprash by Nutrilite is the age-old Ayurvedic herbal blend offering benefits of 16 organic certified ingredients,” he added.
nutrition category
The company forayed into the traditional herb nutrition space in India in 2018 with Nutrilite Traditional Herbs Range (NTHR).
NTHR range now contributes about 10 per cent to the overall brand Nutrilite business in India clocking revenues of ₹100 crore in 2020. The company added that Chyawanprash by Nutrilite is the new addition to the traditional herbs range and expected to contribute 10 per cent to NTHR sales by 2024. It has launched the new product at an introductory price of ₹499 per 500 gm and will be sold exclusively by its direct sellers.
Talking about the nutrition category growth plans, Budhraja added, “With evolving consumer trends, the nutrition category has registered immense growth with Nutrilite contributing over 61 per cent to the company’s business revenue. The category is poised for tremendous growth with an increase in contribution to over 65 per cent (CAGR of 10 per cent) by 2024, which includes a significant contribution from the Nutrilite Traditional Herbal segment,” Budhraja stated.
The Nutrilite business registered a growth of 13 per cent in 2020 and contributed 61 per cent to the company’s overall revenues.