Monday, July 22

Chew on this: Wellness gummies gain popularity among millennials

It could be the year of the gummy. Cute, colourful and easy on the palate, the rise of nutraceutical players is because of a number of factors, especially a surge in interest for wellness products.

An Accenture survey across 16 countries found that consumers are considering health and fitness an “essential”. About 80% said they intend to maintain or increase their spend on areas related to health. There have also been investments by MNCs in a bid to enter the space: Marico’s recent acquisitions of sizable stake in True Elements and Unilever’s investment in Oziva are cases in point. “It is growing at a CAGR of 21%,” says Ananya Agarwal, founder of Nyumi.

“The pandemic has led to a demand for immune-boosting products, which has fuelled growth in this market,” says Saurabh Kapoor, co-founder, Wellbeing Nutrition.

Keep reading at The Economic Times