"Take care of your body. It’s the only place you have to live." This saying by Jim Rohn was to motivate individuals who were less cautious about their health until springtime fades up. But people have grown in health consciousness over time, though the number is still lesser. This scenario adjoining the Fit India Movement started in 2019, resulted in a mass number of people inclining towards yoga and gym, and India saw a murmuring towards a balanced diet and an increase in the uses of supplements. Citing the potential reason for using supplements, Shreyans Jain, co-founder of Nutrabay said that a study shows, that India is one of the most protein-deficient countries in the world, which leads to huge demand for supplements.
A survey in 2022 by EY India reveals that Indian consumers are prioritising health and wellness after covid, with many willing to spend more on fitness classes, natural foods, health supplements, and specialised diets. Indian protein-based product market size has reached Rs 33,028.5 crore in 2023 as per International Market Analysis Research and Consulting Group’s study. Around 94 per cent of Indians are concerned about their family's health, compared to 82 per cent globally, as per the EY report.
This post-covid trend is not limited to India only as per an article by Douglas Broom for the World Economic Forum, an Ipsos report suggests people are more ready to embrace change in their lifestyles and 62 per cent of Americans believe their health is more important to them than before the pandemic.
Price Ties Hand With Demand
As the demand for supplements increased so as the prices, which saw more than 50 per cent hike post covid. Whey protein registered a maximum price rise. The fluctuation in supplement pricing, particularly whey protein, is a broader industry issue driven by several factors. Jain said that Most whey protein raw materials in India were imported, especially from the US pre covid. But due to geopolitical issues sources shifted from the US to Europe. This shift combined with rising global demand created a supply shortage. Additionally, the covid 19 pandemic created a supply chain disruption, further tightening markets and increasing raw material prices. Jain added, “It ultimately led to the price hike at a consumer-facing level. And it has been constantly on the rise, since the post-covid time.”
Women Are Choosing Plant Protein Over Whey
Jain said that the growing popularity of plant proteins over whey proteins is notably driven by women's preferences apart from vegans, as data indicates a stronger affinity among female consumers for plant-based options. He cited an interesting potential reason of women choosing plant protein. He said that historically, whey protein has been associated with bodybuilding, which was only associated with males. Which is not the case with plant protein. However, this stigma is gradually fading. As awareness of protein deficiency increases, more women are recognising the importance of meeting their protein needs and contributing to the growth of the plant protein segment in the market. He added, “That is one of the reasons why a lot of family audiences and female audiences tend to go more.”
Consumer Feedback Matters
India has witnessed several examples where ignorance of consumer feedback, and non-addressing of grievances have led to the loss of the company. Ola Electric was in the news for the same. Jain said that consumer listening is something that they do at a regular level and act. He discussed an example. In a survey about packaging preferences for a new protein product, 67-68 per cent of consumers favoured jar packaging over pouches, citing reasons like reusability for storage. Despite the higher cost of jars impacting pricing, they decided to use jar packaging for premium products, while continuing to use pouches for more price-sensitive items.
Whey Protein: Self Reliance For Raw Material
Whey protein manufacturing in India is tough, Jain said, due to the relatively immature industry, technological barriers and the quality of milk available. He stated that Indian whey protein manufacturing currently lacks the high-grade quality seen in Europe. While European facilities can produce whey proteins exceeding 80 to 90 per cent grade, Indian counterparts typically reach a maximum of 60 to 70 per cent. This disparity in quality limits the competitiveness of locally manufactured whey protein.
As a recent study conducted by researchers from Rajagiri Hospital in Kerala and a US tech entrepreneur, has uncovered serious issues with popular protein supplements in India, revealing that 70 per cent of the products tested do not match their labels, and 14 per cent contain harmful toxins. The study highlighted that many Indian-made herbal protein supplements are of poor quality and may include liver-toxic ingredients and calls for stricter regulations in the herbal and dietary supplement industry.
However, the evolving landscape of health and wellness in India, driven by consumer awareness, is a welcome sign. But as the industry navigates the challenging dynamics, consumer feedback should play an essential role in shaping product offerings and ensuring sustained growth for a healthy India and the world.
