Amway India aims to double size of nutrition category by 2025; will invest Rs 100 crore to boost R&D, digital initiatives

Mumbai: With increasing awareness for health and wellness, direct selling major Amway India aims to double its nutrition business, that accounts for more than 50 percent of its revenues by 2025, a company official has said. Nutrition and wellness is the largest business category for Amway globally and in India and the nutrition category accounts for more than Rs 1,000 crore. Amway has 12 percent market share in the vitamins dietary supplements market that is estimated to be Rs 9,400 crore. [caption id=“attachment_1549581” align=“alignleft” width=“380”] Image used for representational purpose only. Reuters[/caption] “Over the last 20 years of successful operations in India, Amway India have been clocking a CAGR of 20 percent. As for the nutrition category, we have been witnessing a steady growth with a CAGR of 46 percent over the last 18 years, and are bullish about the opportunities presented by the nutraceutical market in India,” Amway India category head wellness Ajay Khanna told PTI. “On the back of successful growth trajectory and category potential, we aim to double the size of the nutrition category by 2025,” he said. It has 40 products in its nutrition business and recently launched Nutrilite Cal Mag D Plus a calcium supplement. “For calcium, we are targeting over Rs 72 crore in the first year, which is 11 percent share of calcium supplement market that is pegged at Rs 632 crore,” he said. He added that the company has identified kids’ nutrition, herbals, sports, foundation and specialised needs and has introduced products in these segments. “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 said. “While the R&D investments will be focused on building research capabilities to enhance product innovation pipeline across categories, the manufacturing investments will be channelised towards digitisation, automation and power optimisation in the manufacturing facility,” he added. The online platform which is through the company-owned website contributes approximately 35 percent to Amway India’s revenues. For offline, it has close to 130 stores of which 62 are express pick-and-pay stores at premium locations in high footfall locations across the country.