Online Gym & Fitness Supplement Market in India Growing at a CAGR of 9.25%

India's online health supplement industry is about to boom, with a growth in number of health-conscious individuals, rapid adoption of technology and the rising levels of disposable income. Other factors such as large millennial population which are tech friendly and growing preference for home delivery of products are also fuelling demand for online supplement market. The Feasibility Study To Start A E-Commerce Company can actually help in successful venture.

While Gyms and fitness centre businesses are proliferating in India, there are also tremendous opportunity in other ancillary businesses such as digital health supplement retail. India has seen advent of new online portals offering online delivery of health and supplements. Yet it is still the tip of the iceberg in a country with a population of around ~ 1400 million

Learn how to prepare the Feasibility to start a Gym and Fitness Centre Business in India

The gym supplement business encompasses protein supplements, multivitamins, pre-workouts, vitamin & minerals supplements, ayurvedic & herbals, weight loss supplements, Creatinine, etc. Preparing Feasibility Study For Gym And Fitness Business In India can lead to success.

As per the research by The India Watch, top 25 supplement portal has clocked a revenue of USD 277.75 million collectively in 2023. At a CAGR of 9.25%, these brands are expected to hit USD 396.7 million by 2027. The overall market is much vast (numbers withheld), give there are many unorganized players as well. The number illustrates how mature and vast it can grow hence attracting both local and international investors.

As a lucrative and high potential business segment, it is intriguing the interest of investors in large chunk. As per Market Research In Health And Fitness Industry, there has been increased private equity investments between 2019 and 2023. In particular, key investors like Temasek, Kae capital and Morgan Stanley have bet big on promising brands and startups such as HealthKart, Fast&Up and many others. The D2C brand Kapiva raised nearly USD 23.8 million from OrbiMed, Vertex Ventures and 3one4 Capital in India .PE investments of USD 118.8 million was recorded in year 2022, underscoring the inherent potential in the segment.

Typically, the online gym supplement & nutrition works on couple of major models.

1. Vertical Integration Model: This model is focused on building their own products and incorporating D2C sales. Products are sold directly through company’s websites without need of intermediaries. The strategy of vertical integration cuts down costs as well as improves margins of profit by controlling several stages of a value chain. However, some key challenges may include such as the need for significant upfront costs in acquiring and/ or building necessary assets. HealthKart is a D2C vertically focussed platform for nutrition that aims at bridging the nutritional gaps in an ever-growing health-conscious India.

2. Horizontal Integration Model: This model involves aggregating multiple brands on one platform (marketplace approach). It encourages price competition alongside providing larger customer base for partner brands. FitBasket is an example of horizontal business models where it brings together range of products from different brands under one platform.

3. Hybrid Integration Model: A hybrid integration model blends key elements of both horizontal and vertical integration approaches. In doing so, companies can benefit from the strengths held by these two models while minimizing their drawbacks. Musclebalze is a successful example of hybrid model as the brand operates its own e-commerce platform as well as leverages popular e-commerce platforms like Amazon and Flipkart to reach a wider customer base.

Each model had their advantages and disadvantages that can be better understood through Market Research In Health And Fitness Industry. While Healthkart is one of the leading brands in market and Muscleblaze has made up in the top three, earning USD 44.8 million and USD 33.5 million respectively during CY 2023.

It is worth noting that Kapiva sold Ayurvedic as well as natural health products realizing a turnover of $14.5 million in 2023. Max Protein, a sports nutrition brand focuses on protein supplements and protein bars and generated a revenue of USD 12.9 million in 2023.

Meanwhile, Yoga Bar goes for healthier snacks targeting wide range of health-conscious consumers with an annual turnover of about USD 11 million dollars.

Alpino Peanut Butter stands out from the crowd through its variety of purely natural high-protein peanut butters that are popular among many Indians today. The brand had a revenue of USD 2.4 million in 2023. Fast&Up emerged as a prominent player bagged PE investment of USD 22 million in 2021.

5 key growth drivers of the segment:

1. E-commerce platforms have made it easy to access a variety of supplements through online shopping. Online purchases are supported by an increased infiltration of smartphones and deeper penetration of internet even in tier II and tier III cities.

2. Demand for gym supplements such as whey protein, mass gainers, creatine and pre-workouts is fueled by the growing fitness and gym culture in the country. As per Market Research On Health Supplement In 2023, India’s whey protein market reached USD 92.3 million in size. Other sources like pea & soy protein, casein protein and egg-based protein is also gaining popularity among consumers.

3. In India, there is high prevalence of vitamin and mineral deficiencies especially among women and children which has led to higher demand for fortified supplements like iron, folic acid and vitamin D. Also, this nutritional supplement demand is backed with growing elderly population that tends to trust on herbal and ayurvedic sources. For instance, USD 47.94 million was the value of Ashwagandha Extract Market in 2022.

4. Social media is a powerful driver of growth in the Indian online supplement market due to its vast reach among consumers in the country. Supplements are being endorsed by influencers as well as celebrities who have a large following. This is shaping consumer perception as well as dictating buying trends which has not only improved product awareness but also built confidence and honesty spurring its expansion. Get the best from India Watch Market Research On Protein Supplement In India.

5. With strong emphasis on physical appearance and athletic performance, young consumers are increasingly seeking supplements to enhance their workout routines and achieve their fitness goals. The better definition in muscles and increased stamina while working out is carried through supplements like creatine. Hence, the niche is gaining popularity among youth and the need for Market Research On Protein Supplement In India is important.

How can The India Watch help you enter and grow your business in the Online Gym Supplement Segment

- Market Comprehension and Opportunity Detection: Understanding the target audience, their purchasing habits& tastes, Pointing out market loopholes, strengths & weakness of competitors; Identifying emerging trends in nutrition, fitness as well as consumer behaviour; Evaluating various supplement categories in terms of potentials and profitability can be easily done through Market Research On Health Supplement.

- Product Development and Positioning: Aiding in introducing new products that match market requirements. This is done through tailormade consumer surveys, market research, and feasibility studies

- India Market Entry and Expansion: Facilitate geographical expansion and new product introductions in the India market through comprehensive research-based market entry studies.

- Feasibility Studies: Prepared detailed business and market feasibility studies to assess the viability of new products and business ideas in online fitness. The scope of Feasibility Study To Start A E-Commerce Company include market insights, sizing, potential assessment, distribution structure analysis, value chain analysis, competitive information, consumer behaviour study, and financial studies.

- Primary Research & Surveys: Conducting consumers surveys, qualitative surveys, B2B surveys, etc.

For any further information on Feasibility Study For Gym And Fitness Business In India drop us a mail at info@theindiawatch.com.

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