Direct selling industry logs over 5% growth in FY22, tops Rs19,000 cr in sales
1 min read 31 Mar 2023, 12:19 PM ISTThe number of active direct sellers in the country stood at around 84 lakhs in fiscal 2022, registering a growth of 6%
PremiumNew Delhi: India’s direct selling industry reported a 5.3% growth in annual sales, crossing ₹19,000 crore in the financial year 2022, as per data released by the Indian Direct Selling Association on Thursday.
Wellness and nutraceutical products dominated the sales registered by the direct selling industry in the country, according to the report.
“The Indian Direct Selling industry registered a compounded annual growth rate (CAGR) of 13%, growing from ₹11,650 crores in 2017-18 to ₹19,020 crores in 2021-22. The share of IDSA members in the total sales of the Direct Selling industry stood at 55% in 2021-22. Of this the wellness and nutraceutical category contributed 59% of direct selling sales in India, followed by 22% revenue contribution by the cosmetics and personal category," IDSA said in its annual report released Thursday.
The number of active direct sellers in the country stood at around 84 lakhs in fiscal 2022, registering a growth of 6% from 79 lakhs in the previous fiscal. The industry comprises 56% of male direct sellers and 44% female active direct sellers. In fiscal 2022, this ratio has changed in favor of male direct sellers—as their participation jumped from to 56% from 53% in the year-ago period.
The Indian Direct Selling Association (IDSA) is an autonomous, self-regulatory body for the direct selling industry in India.
“India has been seen as a market that holds tremendous potential for direct selling, reflected in the consistent and sustainable growth over the past half a decade with a CAGR of 13%. I am pleased to note that the contribution of IDSA member companies remains strong a healthy 55% of gross industry revenues. We remain grateful to the government—particularly the Department of Consumer Affairs—for providing policy clarity for this industry," Rajat Banerji, chairman, India Direct Selling Association, said.
