Jayajit Dash / Kolkata/ Bhubaneswar Apr 08, 2010, 00:04 IST
Direct selling FMCG company Amway India Enterprises is betting big on the growing health and wellness market in the country.
Amway is the biggest player in the Indian direct selling market with revenue of Rs 1407 crore in 2009 and the nutrition and wellness segment contributed to around 50 per cent of its overall turnover.
The market for health and wellness foods in the country which currently stands at Rs 10,150 crore is set to post a CAGR (compounded annual growth rate) of 30-35 per cent for the next five years and expected to touch Rs 55000 crore by 2015, according to the latest report of the Tata Strategic Management Group. The surging growth in this segment will be fuelled by rise in disposable income, increasing wellness quotient among the consumers, consumerism, favourable market demographics and a strong desire to maintain a healthy lifestyle.
According to a report released by Ernst & Young in the last quarter of 2009-10, the nutrition and wellness segment accounts for 32 per cent of the total revenue of the direct selling companies. Amway which is the largest player in the direct selling industry has a major presence in nutrition and wellness segment with a bouquet of 29 products in this category.
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