Direct selling FMCG firm Amway India today expanded its nutrition and wellness portfolio with Nutrilite traditional herbs range and expects it to significantly add to the Nutrilite brand, which contributes to about 50 per cent of the company's turnover.
At present, Nutrilite has a 12 per cent marketshare in the wellness category, the company said in a statement here.
"The range is specifically developed using Indian traditional herbs keeping in mind the nutritional requirement of our Indian consumers," Amway India chief executive officer Anshu Budhraja said.
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The vitamins and dietary supplements market size is Rs 8,400 crore and is poised to grow at 10 per cent in the next five years. Of the total market, the herbal and traditional category is estimated to be 28 per cent at Rs 2,400 crore.
"Nutrilite from Amway has maintained the leadership position for past five years with 12 per cent market share in 2017. We are confident that the new range will help accelerate Nutrilite's growth further in India," he said.
The Nutrilite traditional herbs range comprises of four products - Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha, Nutrilite Amalaki, Vibhitaki, and Haritaki - and is priced at Rs 649 for a bottle of 60 tablets.
"Currently, Nutrilite contributes over 50 per cent to the total turnover, and we expect that the new range will significantly increase the contribution of the brand to the overall turnover of the company," Amway India Nutrition and Wellness Category Head Ajay Khanna said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)