New Delhi: As increasing number of consumers become health conscious, sales of vitamins and dietary supplements in India are expected to grow by 33% in the next five years to over Rs3,400 crore by 2013.
According to a report by global market research firm Euromonitor International, the Indian vitamins and dietary supplements market, which was valued just over Rs2,556 crore last year, is increasingly witnessing tough competition between direct sales player Amway and FMCG player Dabur.
“Growth will be driven mainly by urban consumers, who are becoming increasingly aware of health needs. More stressful lifestyle, pollution and digestive complains will further contribute to growth,” the report said.
As per the latest data by the market research firm, in value terms Amway has 16.9% market share, while Dabur has 11.8%, followed in the third spot by Heinz India. Ranbaxy Laboratories and Pfizer were in fourth position with 4.6% each.
Among the supplement brands, the study rated Amway’s protein powder Nutrilite, which had a sales of Rs330 crore last year, as the most popular brand followed by Dabur Chyawanprash from Dabur India valued at Rs230 crore.
In combination dietary supplements, Himalaya Drug’s Liv 52 has been rated as a top brand with sales of Rs64.9 crore.
The report pointed out that the chyawanprash segment would witness a robust growth during 2008-2013 period due to aggressive marketing and promotional activities by Dabur and Emami.