Vitamins & Supplements marketplace

Part
01
of four
Part
01

Vitamins & Supplements: Trends - India

Trends in the Indian vitamins and supplements industry include preference of capsule dosages of supplements, liquid encapsulation, millennial driven supplements market, the emergence of exclusive outlets as channels of distribution, growth of dietary supplements market driven by protein and herbal supplements market and vitamins as most on-demand supplements in India.

PREFERENCE OF CAPSULE DOSAGES

  • The Dietary Supplements Market in India report for 2013-2018 indicated that consumers of dietary supplements in India now prefer dosages in the form of capsules since they are easier to swallow and offer more formulation flexibility.
  • Consumers had developed a preference for capsule dosages, as reported by the Dietary Supplements (Vitamin, Herbal, Probiotic, Omega-3, Protein Supplements) Market in India 2018-2023, which lists it as a trend.

LIQUID ENCAPSULATION

  • As recent as 2018, liquid encapsulation of dietary supplements became one of the emerging technologies being used in India.
  • The technology protects the ingredients through moisture protection found within the capsule.
  • This is an emerging trend since most manufacturers are employing the relatively new liquid encapsulation technology, and Dietary Supplements (Vitamin, Herbal, Probiotic, Omega-3, Protein Supplements) Market in India 2018-2023 report deems it an emerging trend.

MILLENIALS DRIVING SUPPLEMENTS MARKET

  • As India grows in economy and education, more knowledge and awareness of health benefits comes alongside it, especially among millennials.
  • Based on projections for 2019, tech-savvy millennials in India that now have easy access to information on health and nutrition, are being motivated to seek healthy alternatives to their usual diets, thereby increasing their supplement intake.
  • This is an emerging trend because millennials are increasingly consuming supplements, and according to NutraIngredients-Asia, industry experts are looking at it as an emerging trend.

EMERGENCE OF EXCLUSIVE OUTLETS AS CHANNELS OF DISTRIBUTION

  • Aside from the already established over-the-counter (OTC) chemist shops distribution channel for supplements, other channel options such as exclusive outlets are emerging, and they provide more credibility to consumers because they also build relationships with the buyers.
  • Several gymnasiums and nutritionists also stock and promote functional foods, beverages, vitamin, and mineral supplements.
  • Moreover, exclusive outlets are increasingly becoming constant distributors of supplements, and according to Food and Beverage News, dietary supplement expert lists it as an emerging trend.

PROTEIN AND HERBAL SUPPLEMENTS MARKET DRIVING GROWTH OF DIETARY SUPPLEMENTS MARKET

  • India's dietary supplements market is the fastest growing market in the Asia-Pacific region.
  • Out of the 60% contributed by dietary supplement segment in the nutraceuticals industry, protein, and herbal supplement market contributes to more than 40% of it.
  • It is forecasted that the protein and herbal supplement market will cross the 10,000 crore mark up in the period between 2018 to 2023.
  • This is an emerging trend since the 2018 report found that "the average urban and semi-urban Indian is becoming more conscious about health & fitness" and is providing a massive growth opportunity for the increasingly growing Dietary Supplement Market in India, of which the protein and herbal supplements segment was and is the major contributor.

VITAMINS ARE MOST ON-DEMAND SUPPLEMENTS

Research Strategy

To establish trends in the Indian vitamins and supplements industry, we carried direct searches on various reliable platforms. We searched market research websites such as Research and Markets, Global Information, Inc., and Research on Global Markets. We also looked into press releases on platforms such as Business Wire and PR Newswire, e-newspapers such as FNB News and health food news platforms such as NutraIngredients-Asia. Based on information found in these sources, we were able to identify six trends. We established that they were trends based on how widely consumers in India were taking them up and on their classification by industry experts as trends.
Part
02
of four
Part
02

Vitamins & Supplements: Products list - India

After an extensive search through credible sources, we were not able to provide the top vitamins or supplements products in the Indian vitamins and supplements industry. However, the research team pulled together other relevant findings and presented them below, together with the details of the team's research strategies to find the required information.

Shelcal

  • Shelcal is a vitamin D and calcium supplement taken for Osteoporosis treatment balance.
  • In 2018, Shelcal has $50,937,603 revenue in India.

Becosules

  • Becosules is a multivitamin supplement to nourish vitamin-deficiencies and is awarded as one of the top 15 most trusted drug brands.
  • Becosules brand has 16.8% of market share in the vitamins and supplements industry.
  • In 2018, Becosules has $44,763,114 revenue in India.

Nutrilite Daily (Source #4)

  • Nutrilite Daily is an Amway product which is taken for daily nutritional balance.
  • In 2017-18, Nutrilite Daily has $14,349,002 revenue in India.

A to Z NS (Source #5)

  • A to Z NS is a vitamin supplement to nourish vitamin deficiencies.
  • It has been claimed to be in the 4th market position in Vitamin Supplements category by the Alkem Laboratories but details on India sales are not quoted by the company.

Gemcal

  • Gemcal is a vitamin D and calcium supplement taken for Osteoporosis treatment.
  • It has been claimed to be in the 2nd market position in Pain Management by the Alkem Laboratories but details on India Sales are not quoted by the company.
  • A to Z NS and Gemcal are top-selling products of Alkem with respect to vitamins and supplements category and they both contribute 4.3% of market share.

Revital H

  • In 2016, Revital H contributed 48% of the market revenue of vitamin and dietary health supplements.
  • As of now, Sun Pharma still claims Revital H as the largest selling vitamins and minerals supplement used as a health supplement but details on India Sales are not quoted by the company.

Nurokind

  • Nurokind is a multivitamin supplement to nourish vitamin deficiencies produced by Mankind Pharma.
  • Mankind Pharma has a market share of 6.14% in the Indian vitamins and supplements industry.
  • Mankind states that Nurokind net worth is $16,117,376 million but did not quote the annual sales.

Ensure

  • Ensure is a nutritional supplement to meet daily nutritional needs.
  • Ensure is the top nutritional supplements product of Abbott which improved the global sales of the company but details on its market share or India sales are not quoted by the company.
  • Abbott Pharma has a market share of 5.17% in the Indian vitamins and supplements industry.

RESEARCH STRATEGY:

The information on top selling vitamins or supplements products in the Indian vitamins and supplements industry is not available as there are no details on sales of these products with respect to India in the public domain. As there is very limited information of India sales or market share of such and has limited information specific to 2018-19, it is not possible to triangulate further and give rankings. To find this data, we initially searched for the information in various vitamin supplement and dietary supplement reports, industry articles, government reports such as CDSCO, NIN, Business Standard, Reuters, Livemint, and Business World among others. Most of the information is on top companies of Indian vitamins and supplements industry, top vitamin products based on pricing and reviews but nothing specific to top "selling" vitamins or supplements products in India.

We later searched for top brands and their revenues or volume sales of Indian vitamins and supplements industry in their company websites and annual reports such as Alkem Laboratories, Glaxo Smith Kline, Raptakos Brett, Pfizer, Abbott, Sun Pharma, Torrent, Mankind, Herbalife, and Amway among others but most of the companies either mentioned their global revenue or net worth. Other brands are only mentioned as top brands without any further information and nothing specific to sales in India, volume sold, or market share.

Further, we expanded the scope of search across the globe and beyond the 24-month timeline in various global vitamin reports, vitamin disease association, and research journal articles. But most of the reports focused on key players in general rather than top-selling vitamins or supplements products. We also searched in India drug databases such as CIMS, Drugbank, and Drugs.com but we only found details on pricing and nothing was specific to India sales or market share. After doing the above strategies, we found few products which are stated as top-selling and these are considered relevant findings as was presented above.

Part
03
of four
Part
03

Vitamins & Supplements: Loser list - India

The five companies that have experienced the biggest decline in revenue and market share in the vitamins and supplements industry in India include Patanjali Ayurved, Dabur India, Zydus Cadila, Dr. Reddy's Laboratories, and Sun Pharmaceutical Industries.

Patanjali Ayurved Ltd

  • Website: here
  • Reason for including: Patanjali Ayurved Ltd. experienced a 10% decrease in its revenues, reaching Rs 8,135 crore in the first quarter of 2018.

Dabur India Ltd

  • Website: here
  • Reason for including: Dabur India Ltd reported a fall of 6.46% in consolidated net profits, reaching Rs 371.49 crore in the fourth quarter that ended on March 2019.

Zydus Cadila

  • Website: here
  • Reason for including: Cadila Healthcare (Zydus Cadila) experience a standalone net profit of Rs 243 crore for the quarter that ended on March 2018. This represent a decrease of 48% compared to the Rs 471 crore registered in the previous year.

Dr. Reddy's Laboratories

  • Website: here
  • Reason for including: Dr. Reddy's Laboratories’ net profit fell 3.3% to Rs 302 crore in the fourth quarter of 2018.

Sun Pharmaceutical Industries Ltd

  • Website: here
  • Reason for including: Sun Pharma experienced a 75% decline in its Q3 net profit, with a reported a net profit of Rs 3.65 billion in the quarter.

Research Strategy:

We began our research by looking for any pre-compiled information through news reports and media articles specific to the vitamins and supplements market in India. We focused our research on sources such as Indiatimes, Rediff, Dainik Bhaska, The Indian Express, and The Hindu. Unfortunately, most information we found pertained to the overall status of the leading companies' revenue and was not specific to the category of vitamins and supplements.
Next we turned to industry reports such as Businesswire, Business Insider Market, Kenresearch, and Grandviewresearch. We were hoping to find any available information on some of the struggling companies in terms of revenue, market share or public perception. However, the only information we were able to gather listed the top companies in the vitamins and supplements market in India. We found information on trends, growth drivers, and challenges in the vitamins and supplements market in India.

As a last resort, we tried to triangulate the answer by using the list of top players in the vitamins and supplements market in India. We then searched each key player's annual reports in order to find any information on reported losses in revenue, market share, or public perception in 2018-2019 in the vitamins and supplements market. However, this yielded no specific information to the specific market in India. The only information we were able to find pertained to the overall revenue decline of some of the bigger companies in the Indian vitamins and supplements market. Nevertheless, we have chosen five companies that have experienced the biggest decline in revenue and market share.
Part
04
of four
Part
04

Vitamins & Supplements: Leader list - India

The top 10 companies in the Indian vitamins and supplements industry are Mankind Pharmaceuticals, Abbott India, Alkem Laboratories, Torrent Pharmaceuticals, Merck, Pfizer, Abbott Healthcare, Meyer Organics, Raptakos Brett & Co, and GlaxoSmithKline Pharmaceuticals.

Top 10 Companies In The Indian Vitamins and Supplements Industry:

MANKIND PHARMACEUTICALS

  • As of May 2018, Mankind Pharmaceuticals had a 6.14% market share of the Indian vitamins and supplements industry.
  • Here's a link to their website.

Abbott India

  • As of May 2018, Abbott Healthcare had a 5.17% market share of the Indian vitamins and supplements industry.
  • Here's a link to their website.

Alkem Laboratories

  • As of May 2018, Alkem Laboratories had a 4.37% market share of the Indian vitamins and supplements industry.
  • Here's a link to their website.

Torrent Pharmaceuticals

  • As of May 2018, Torrent Pharmaceuticals had a 4.23% market share of the Indian vitamins and supplements industry.
  • Here's a link to their website.

Merck

  • As of May 2018, Merck had a 3.54% market share of the Indian vitamins and supplements industry.
  • Here's a link to the company's website.

Pfizer

  • As of May 2018, Pfizer had a 2.83% market share of the Indian vitamins and supplements industry.
  • Here's a link to the company's website.

Abbott Healthcare

  • As of May 2018, Abbott Healthcare had a 2.83% market share of the Indian vitamins and supplements industry.
  • Here's a link to the company's website.

Meyer Organics

  • As of May 2018, Meyer Organics had a 2.77% market share of the Indian vitamins and supplements industry.
  • Here's a link to their website.

Raptakos Brett & Co

  • As of May 2018, Raptakos Brett & Co had a 2.53% market share of the Indian vitamins and supplements industry.
  • Here's a link to the company's website.

GlaxoSmithKline Pharmaceuticals

  • As of May 2018, GlaxoSmithKline Pharmaceuticals had a 2.52% market share of the Indian vitamins and supplements industry.
  • Here's a link to the company's website.

Research Strategy

Your research team began by looking for pre-compiled information for the top companies in the Indian vitamins and supplements industry. The team found this list on Business-Standard with the ranking criteria as the percentage market share of the vitamins and supplements industry in India. Further, a report by BusinessWire also highlighted some of these companies in a pre-compiled list to ascertain that they are notable. The team also found a paywalled report by Euromonitor, for the Indian vitamins and supplements industry, which might provide further information. The list earlier identified on Business-Standard provided the names, market share, and CAGR of the top 10 companies in the India vitamins and supplements industry as of May 2018. Using their names, the team located the official Indian websites of each company and provided their links in the key findings section.
Sources
Sources

From Part 02
Quotes
  • "It is followed by Pfizer, known for its Becosules brand, with a share of 16.8 per cent. The third, fourth and fifth spots are taken by Merck, Bayer and Abbott, respectively. Home-grown firm Wockhardt had the seventh spot."
  • "Data from Euromonitor show that the US-headquartered Amway has maintained its leadership position in the segment in the Indian market for the past five years. Its share, however, has dipped from a 43.2 per cent in 2013 to 33.8 per cent in 2016."
Quotes
  • "Pfizer’s major consumer healthcare brands in India include Becosules (MAT of Rs 3.12 billion in November 2018),"
Quotes
  • "In 2017-18, Amway India had sales of Rs 1,800 crore and expects to touch Rs 2,000 crore in FY 2018-19. Buoyed by the success of recently launched Nutrilite traditional herbs range, which is expected to cross Rs. 100 crore-sales mark by end of the year, the company is celebrating the success of its top-selling products that are in the Rs. 100 crore club in India including Nutrilite All Plant Protein Powder, Nutrilite Daily, Amway Queen cookware and Glister toothpaste."
Quotes
  • "A Torrent spokesperson said Shelcal is the leading brand in this therapy segment for them, with approximate sales of Rs 3.55 billion."
  • " Alkem Laboratories, which enjoys a 4.3 per cent share of this market, has two brands among the top 10, A to Z NS and Gemcal. "
Quotes
  • "The vitamin and dietary health supplement market in India is estimated to be ₹ 8,828 crore and growing at 12% with top 10 brands (of which Revital H is a part) in the category contributing almost 48% of the market revenues, according to a statement released by the company."
Quotes
  • "Worldwide sales performance was led by strong growth of Ensure®, Abbott's market-leading complete and balanced nutrition brand"
Quotes
  • "Revital H, our flagship brand in the OTC segment, is India’s largest selling Vitamins & Minerals Supplement (source: Indian Pharma Market). It has several extensions-- a specially designed Vitamins & Minerals Supplement product for women: Revital H Women. This is also India’s #1 women’s daily health supplement (source: Indian Pharma Market)."
  • " Revital H has, over the last 25 years, created and grown in the category of health supplements in India, which it leads today. The core Revital H brand is endorsed by M. S. Dhoni, the leading star of Cricket."
Quotes
  • " Two of our key brands Corex (Cough Formulation) and Becosules (Multivitamin) have also been awarded the Most Trusted Brand Award and continue to rank among the Top 15 pharmaceutical drug brands."
From Part 03
Quotes
  • "Patanjali Ayurved Ltd witnessed a 10 per cent dip in its revenues at Rs 8,135 crore for the period ended March 2018."
Quotes
  • "Cadila Healthcare (Zydus Cadila) has registered a standalone net profit of Rs 243 crore for the quarter ended March 2018, down by 48 per cent, against Rs 471 crore registered in the corresponding quarter a year ago."
Quotes
  • "Dr Reddy's Labs has posted a profit of Rs 302.2 crore for the fourth quarter ended March 31, 2018 against a profit of Rs 312.5 crore in the corresponding quarter last fiscal."