Dr Amit Deshpande, Founder of Activist and Agnivesh Health Care Pvt Ltd
The market for Vitamins and Dietary supplements in India has experienced significant growth in recent years. In 2022, the Vitamin & Supplement Manufacturing industry recorded a robust revenue of $39.4 billion, highlighting the increasing demand for such products among consumers. People have become more health-conscious and are seeking ways to boost their immunity and overall well-being. A wide array of brands have emerged in a short span of time in this segment, Aurangabad-based Activist Health Care, a subsidiary of Agnivesh Health Care is one of them. Dr Amit Deshpande, Founder of Activist and Agnivesh Health Care Pvt Ltd interacted with nuFFooDS Spectrum and spoke at length about the company’s recent advancements and future plans. Edited excerpts:
How are you exploring the Vitamins and Dietary supplements market in India?
With the rising awareness of the importance of a balanced diet and nutritional supplementation, the market for nutraceutical products has witnessed a surge. As a company operating in this dynamic industry, Activist has been actively exploring and tapping into the potential of the Indian market. We have developed a wide range of high-quality vitamins and dietary supplements to meet the diverse needs of consumers. By conducting in-depth market research and staying updated with the latest health trends, we aim to provide innovative and effective products that cater to the evolving demands of our customers.
How did the company fare in FY 2022 and what’s the projection for FY 2023?
In the fiscal year 2022, our company achieved a commendable Indian revenue of Rs 5.5 crore. This success has been the result of our commitment to producing premium-grade supplements that align with the health needs of our target audience. Looking ahead to FY 2023, we have ambitious plans for expansion and product diversification, which we expect to contribute to a substantial increase in revenue. With our strategic approach to marketing, distribution, and product development, we are optimistic about reaching a revenue milestone of Rs 10 crore in FY 2023.
What are the challenges in the Indian Vitamins and Dietary supplement market?
The market in India, although lucrative, does come with its share of challenges. One of the key hurdles we face is gaining the trust of our customers. With a plethora of supplement options available in the market, consumers are becoming increasingly cautious about the authenticity and effectiveness of the products they choose. As a responsible and customer-centric company, we are dedicated to maintaining the highest standards of quality in our supplements and providing transparent information about our ingredients and manufacturing processes. By educating consumers about the benefits and science behind our products, we aim to build a strong and reliable reputation in the market.
What are the recent developments in the company and how technology contributes to the innovations in Ayurveda and nutraceuticals?
In line with our commitment to innovation, we have recently introduced a range of ayurvedic supplements. These supplements incorporate time-tested herbal ingredients and formulations to enhance their effectiveness and health benefits. Additionally, we are on the verge of launching external application products, such as creams and face wash, which harness the power of natural ingredients to promote skin and hair health.
Technology has played a pivotal role in our efforts to innovate in the Ayurveda and nutraceutical segments. Through extensive research and development, we have leveraged technological advancements to create unique formulations, such as liquid-filled capsules like a capsule in a capsule and tablet in a capsule. These novel delivery systems have improved the absorption and bioavailability of our supplements, maximising their potential to benefit the health of our consumers.
What are the key challenges in managing the supply chain of herbal ingredients?
Managing the supply chain of herbal ingredients is a critical aspect of our operations. The sourcing of authentic and high-quality herbal ingredients is of utmost importance to ensure the potency and efficacy of our supplements. However, it is not always easy to procure these herbal ingredients, as their availability can be limited. Moreover, the identification and verification of herbal ingredients require specialised lab facilities, which are not always readily accessible. Despite these challenges, we have established strong partnerships with trusted suppliers and herbal experts, allowing us to source the finest herbal ingredients and rigorously test their authenticity and quality.
Which category of supplements is the most promising and valuable to the revenue stream?
Our company takes pride in catering to a wide range of health conditions through our diverse portfolio of supplements. From general health and well-being to specific dietary needs and lifestyle requirements, our products address various health concerns. Among the category of supplements we offer, Protein supplements have emerged as the most promising in terms of demand and contribution to revenue. These supplements, which constitute 60 per cent of our total sales, cater to fitness enthusiasts, athletes, and health-conscious individuals seeking to meet their protein intake requirements for muscle building, recovery, and overall health support. The remaining 40 per cent of our revenue comes from a variety of other supplement categories, including vitamins, minerals, and specialised formulations.
What are the future plans of the company in terms of new product development, manufacturing facilities and business expansion?
Looking ahead to the future, our company has an exciting roadmap that includes new product development, expanding manufacturing facilities, and business expansion into related sectors. As mentioned earlier, our recent introduction of ayurvedic supplements and upcoming external application products mark just the beginning of our commitment to diversify and strengthen our product portfolio.
In terms of new product development, we are constantly exploring emerging health trends, consumer needs, and scientific research to identify gaps in the market that our supplements can address. To support our growth and ensure the highest quality standards, we are also planning to expand our manufacturing facilities. This expansion will enable us to scale up our production capacity and meet the increasing demand for our supplements, both domestically and internationally. We are committed to maintaining the utmost quality in our manufacturing processes, adhering to global standards, and obtaining necessary certifications to reassure our consumers of our dedication to excellence.
Additionally, we see tremendous potential in the cosmetic line, which aligns with our focus on wellness and holistic health. By leveraging our expertise in herbal formulations and natural ingredients, we plan to venture into the cosmetic industry with products that promote healthy skin and hair. Our vision is to offer consumers a comprehensive range of wellness solutions, encompassing both internal and external health needs.
In conclusion, as a leading player in the Vitamins and Dietary supplement market in India, we are committed to delivering high-quality products that enhance the health and well-being of our customers. By addressing the challenges of gaining consumer trust and leveraging technology-driven innovations, we continue to solidify our position in the market. With a strong emphasis on research and development, we remain at the forefront of the industry, introducing groundbreaking products that cater to diverse health conditions. Looking ahead, our future plans include expanding our product range, manufacturing facilities, and business reach, reinforcing our commitment to enriching lives through optimal health and wellness solutions.
Mansi Jamsudkar
mansi.jamsudkar@mmactiv.com