Most of the supplement consumers in today’s time are younger buyers.
The ever-growing health and wellness industry has severely impacted the Indian business market, resulting in new opportunities in the segments that were once a niche sector. Indians are now more conscious towards a healthy lifestyle than ever that has opened the gate for wellness franchisors and entrepreneurs that are willing to cater to such audiences.
One such sector is the Indian dietary and supplements industry that is now evolving drastically from its initial phase. This rapid transformation is due to the rising demand for healthy and nutritious products that the country is witnessing from the last couple of years.
In fact, the changing lifestyle of people is expected to cause a severe transformation within the supplement industry, growing it by 20 percent to USD 6.1 billion by the end of 2020.
Supplement Business: A Consumer-Driven Segment
People are more often opting for supplement products that could keep them healthy in the modern time. The rapid growth of this segment is experiencing is a sheer example of that. Once being considered as a niche segment is now being referred to as a customer-driven segment.
Investors have gradually realized the potential hidden in this segment and are coming up with new products and offerings, tapping the untapped supplement market. It is believed that this trend is here to stay and establishing a supplement business could attain one success as a successful business owner.
Most of the supplement consumers in today’s time are younger buyers. Youngsters are all enthusiastic towards attaining a healthy lifestyle, even if they have to spend some extra bucks for that. Moreover, since technology and the Internet are among their favorite tools, it’s easy for them to acquire information about different products that could meet their requirement.
Thus, targeting youngsters for growing a supplement business could be the best possible strategy, since youths are also influenced by celebrity looks and physique.
In order to grow a supplement business in India, targeting the athlete's section can certainly accelerate things for a business owner. In fact, the sports-related protein and dietary products are gaining immense popularity and growth in recent time.
The regimentation of fitness is resulting in hardcore training and fitness sessions, eventually introducing them to supplement products for additional benefits in terms of health and physique. Therefore, supplement business owners could target the sports industry for expanding their business.
People belonging to the tier III areas are usually more impacted by the lifestyle of celebrities. They often end up following the celebrities’ lifestyle religiously, eventually looking up to them for inspiration. The celebrities are eventually driving the demand for supplements products in such areas which open the gate of opportunity to supplement business owners.
As most of the supplement brands target Tier I and Tier II consumers, competition in tier III are relatively less. Therefore, due to low competition and high demand, targeting tier III consumers will be profitable.