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Several global nutraceutical companies including Myhealth in Belgium, Kamedis from Israel, Kreivo Health of Singapore and Baker Dillon Group in the US are keen to partner and invest into promising Indian companies having a wellness and dietary supplement portfolio.
This comes after the Union government approving 100 per cent foreign direct investment (FDI) in nutraceutical manufacturing sector via the automatic route. It allows entities to market through wholesale, retail, or e-commerce platform. Further, the pandemic phase has found considerable relevance to immunity boosters and naturally derived foods. In addition, India holds promise for exploring delivery of nutraceutical formulations in varied forms of liquids, capsules, tablets, or chewable gummies etc.
“International companies want to access the Indian market swiftly. Hence responsible evidence-based nutrition is at the center of all these conversations. This sector also has opened up significantly to attract foreign investments,” said Amit Srivastava, founder, Nutrify India.
Leading international nutraceutical companies are making a beeline for India, as the country shows its potential as a big market, as also a source of innovation and ingredients, he added.
A key factor to partner and fund Indian nutraceutical companies is to be able to offer wide product offering. Also being part of an Indian entity allows easier regulatory clearances.
International Trade Administration, Department of Commerce, United States report estimates Indian nutraceutical market to grow from the current $4 billion to $18 billion 2025. Currently, the India imports US$ 2.7 billion worth of nutraceuticals.
Research is also underway on isolated nutrients, dietary supplements, and specific diets to genetically engineered designer foods, according to researchers from National Institute of Nutrition.
Nutrify India too, which is a nutraceutical B2B platform, has signed up with well-known international companies like Kreivo Health Kamedis, Baker Dillon Group and Myhealth. These companies are looking at India for innovation and technology expansion strategies. For instance MyHealth of Belgium, and Kamedis, Israel are attempting to find a base in India to drive innovation from botanical ingredients, he said.
“Our patented botanical extracts for dermatological conditions have been subjected to stringent clinical trials and are a success story in Israel, and now entering US markets. Engaging Nutrify will enable us to find a strong foothold in the Indian dermatology market,” said Roni Kramer, founder & CEO, Kamedis.
“We have charted an aggressive growth strategy and intend to double up our portfolio in Europe and Africa. We also plan to tap into about US$ 5 million worth of nutraceutical innovation portfolio from India,” pointed out Jurgen Broeck, founder, and CEO, Kreivo Health.
Raf Dybajlo, CEO, My Health said that their portfolio of products undergoes clinical trials in the standards of pharma to ensure desired health outcomes. The company witnessed success in Europe and now it is well primed to enter key markets like India. Complying with responsible nutrition standards these products are eligible for clearances from the Indian regulator.
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