Amway India aims to tap 'nascent' kids dietary supplement mkt

Direct selling major Amway India on Tuesday launched two new kids dietary supplement products, aiming to boost revenues from the segment and tap this "nascent" market.

According to Euromonitor estimates of about Rs 401 crore, the kids' vitamin and dietary supplement market is still at a "nascent stage and promises strong growth potential", Amway India Chief Marketing Officer Sundip Shah said.

The segment contributes about 10 per cent to the overall nutraceutical sales.

Amway India, part of the USD 8.8 billion global group, launched 'Nutrilite DHA Yummies', developed to support the nutritional gap of omega-3 fatty acids and vitamin D in children of age five years and above.

"Nutrilite DHA Yummies is an addition to our existing range of supplements for kids," Shah said in a statement.

As of 2018, the overall omega 3 supplement market was growing at a CAGR of 12 per cent, officials said.

The new product will initially be imported from its global sourcing hubs.

Amway Global Chief Operating Officer Michael J Cazer recently told PTI that the company was giving major impetus to building a strong product portfolio going forward.

This would be part of its journey to make India a USD 1 billion market in a decade, he had said.