- The author of this article is Yoni Glickman, Principal Advisor to Nutrify India – Business and Investments
The Indian nutraceutical market has all of the correct ingredients to build strong business in the Unites States. These include a long heritage of use of natural ingredients in maintenance of our daily health, access to a huge array of raw materials, good industrial facilities and most importantly a community of well educated, aspirational entrepreneurs.
Currently the challenge for start-ups is to successfully deploy these ingredients in a successful manner with a solid busines case and execution plan. As is true for any start-up anywhere in the world, the company must be able to answer a real market need and pain point. This inherently requires a solid understanding of the mechanisms and needs of the eco-system. COVID times have driven USA consumers to double down on the usage of dietary supplements in key, growing indications such as immunity, sleep and stress.
Smart companies will make efforts to develop products and solutions that will become critical in the next stages of the global pandemic, during which consumers will become more concerned and more motivated to act around the co-morbidities that have been so lethal during COVID . These include obesity, all the expressions of metabolic syndrome and of course “side effects” of our new socially distanced reality. These indications will be the real pain points that consumers will be looking for non-pharma interventions that deliver results and a great consumer experience.
To ensure long term success these products and solutions must be efficacious, clinically researched, and regulatory compliant. Start-ups must consider these factors in their planning and fund raising so as to ensure that they possess suitable human and capital resources to effectively execute on these critical factors. Additional opportunities will be at the nexus of wearable devices, Artificial Intelligence and functional food. Products and solutions that deliver an excellent taste experience, ongoing demonstratable health benefits and at the same time have a strong element of incremental digital consumer engagement will win the future of the market.
This intersection will be critical in delivering preventive solutions in forms that consumers desire whilst driving ongoing compliance and engagement.
In summary, the combination of a strong agro-heritage, clinical science and IT capabilities, all verticals that are present in India, together with an intimate knowledge of market needs will be the key to success for Indian start-ups in the USA and in rest of the Western World.