We are aiming to achieve 500-700cr revenue in the next 2 years in the Indian market.
From nutrition to the personal care category to now kids’ nutrition. How has been the response so far?
As mentioned earlier, OZiva Clean Beauty has been on a positive growth trajectory since growth. For eg: Few best-sellers like Youth Elixir Anti-Ageing Face Serum have been consistently growing 5X times month-on-month.
Consumers are looking for solutions that can provide holistic beauty that is truly inside and out. With our nutrition + beauty range, they are able to create a routine that helps achieve the same.
OZiva Kids was launched about a month back. While it is too early to comment on growth, the initial response to the range itself has been great. Kids love the taste while parents approve of them consuming it. These superfood gummies are tasty making it easier for kids, especially fussy eaters to get the required amount of nutrition for holistic growth and development.
What are your thoughts on the nutraceutical market and what is the impact of Covid-19 on this segment today?
The World Health Organization (WHO) estimates the global plant-based & herbal products market to reach $13 trillion by 2025, the fact remains that over 80 per cent of the world population principally relies on the traditional plant-based paradigms of medicine, to comply with their primary healthcare needs. Since the COVID-19 pandemic, people are focusing on their diet, nutrition intake, and how they can possibly boost their immunity & overall health. Also noticeable, is the rising trend towards adopting 100% plant-based and clean nutritional products that are proven to help people with better absorption of nutrients, easy digestion and a host of other benefits. More and more consumers are becoming vigilant about their diet, now more than ever, which is one of the major reasons for this market segment growing at a very fast pace.
Covid-19 has changed the psyche around healthy eating and nutrition. What are some of the noticeable trends you have seen in India?
Health and wellness trends come and go. One month we are drinking celery juice, following a certain diet and the next it’s activated charcoal water to another diet. Even something as heavily critiqued as the low-carb Atkins diet has made a pseudo comeback under the guise of a new name and form, the Keto diet. If anything, our willingness to try new foods, diets, and herbal remedies to better our health, signals a desire for change. People are now becoming increasingly conscious about being holistically healthy with a stronger immune system. A study done by Ipsos (during lockdown) states that Gen Z were consciously choosing foods that can strengthen their immunity (fruits, healthy diets) and avoiding oily food.
An interesting trend we have seen is the rise in adoption of plant-based protein, vitamins and minerals. These 100% clean and plant-based nutritional products are proven to help people become stronger and healthier while providing a host of health benefits.
Describe the core proposition of your brand, OZiva? Which products are the exclusive and most selling products?
We have always been driven by one question- how we enable people to be healthier & better. We believe that perfection is a myth. We all are trying to be a better version of ourselves every single day. And we want to ensure that on this journey of being better, you have clean, plant-based products. This core thought has guided all the work that we have done so far. We believe holistic health is about achieving a balance of mind, body, soul! Right from what we eat to what we apply – really impacts our health & wellbeing.
We have products spanning different categories – Women’s Health, Men’s Health, Skin, Hair, immunity, kids health etc. We see growing consumer love for products like OZiva Protein & Herbs (better metabolism, strength, energy and stamina), Plant-Based Collagen Builder (for radiant skin and anti-ageing) and Plant-Based Biotin (for stronger hair). Though a more recent addition to the portfolio, we are seeing a lot of demand for OZiva Clean Beauty products (skin and hair care)- products made with phytonutrients and clinically proven actives, backed by botanical science.
You have received two rounds of funding back-to-back, how do you plan to use it
The funds are being deployed in 5 key areas that will drive our growth in the next 3 years – scaling the team, investing in R&D for category expansion, building the brand, expanding our offline presence and scaling our technology platform to provide more value-added services.
What made you explore the personal care space and kids segment, especially personal care which already is hugely cluttered.
Our focus is on providing holistic wellness by adopting a clean lifestyle. Personal care market might be cluttered however there is still a gap when it comes to skin and hair health which includes clean nutrition and clean beauty products. With the launch of OZiva Clean Beauty, we are able to provide holistic solutions to consumers for healthier skin and hair.
There is also increased awareness about clean beauty labels and the impact it has on the body and environment. We will continue to provide 100% beauty products that have been tested and cleared for harmful chemicals/ingredients. Just like in the nutrition category, we have raised the benchmark of purity by being the first nutrition brand (in India) to be certified clean by US-based CLP.
We hope to build an ecosystem of clean and holistic wellness solutions for consumers.
OZiva Kids, the new sub-brand aims to bridge this gap in kids’ nutrition. Due to the changing lifestyles and increased consumption of unhealthy foods, kids are lacking essential nutrients like vitamins, minerals, protein and more. Most kids are also fussy eaters, which in turn leads to them facing nutrition deficiencies, and is cause of major concern amongst parents.
What will be the market space (in terms of growth, size and opportunity) for a clean plant-based nutrition/nutraceutical industry in the next 5 years?
The conversations around nutrition have been constantly evolving, be it in India or globally. The Indian Dietary Supplement Market is predicted to grow at CAGR of 17.28% until FY2026, to reach USD 10,198.57 Million by FY2026 from the valuation of USD 3924.44 Million in FY2020. The various segments within the supplement market include Vitamins & minerals, herbal supplements, protein etc. Herbal segment contributes to almost 30% of the overall market and is expected to grow rapidly in the coming years. Herbal supplements are supplements derived from plant extracts. This also includes plant-based vitamins, minerals and plant protein. Clean labels on the other hand are still niche in India but more and more consumers are increasingly getting conscious about the foods they consume. They are adopting clean and holistic diets and this trend is here to stay. In the coming years we can expect the clean, plant based nutrition and wellness market to become more mainstream and higher adoption amongst consumers. This trend has already begun with FMCG giants also launching their line of plant-based products in India.
What are your future plans with the brand? Any new launches planned ahead?
Our focus in the upcoming months will be growing both OZiva Clean Beauty and OZiva Kids. We also have a few products in the pipeline aimed at men’s and women’s health. We are also working at increasing our offline footprint across the country.
Source: Business World