Functional water beverages are set to drive the future of nutraceuticals market, according to Deepthi Anand, founder and CEO, Valencia Nutrition.
“The Indian market brims with immense growth opportunities because it is the emergence of a young population on the move. However functional water-based wellness is at a nascent stage but fast-emerging as a healthy substitute. It is amply evident that in India acceptance of any functional water-based wellness beverage is only when the consumer carries out thorough evaluation,” stated Anand.
India does not have low calorie beverage alternative and there is only easy access to either carbonated beverages or the fruit flavoured drinks that are sugar-rich and high on caffeine. An average Indian consumer in the age-group of 18 to 50 years is seen to be sub-optimally consuming water or a nourishing beverage. “They are constantly scouting for micronutrients and fibre intake options in liquid form. Although the market brims with green tea, antioxidant, prebiotics and electrolyte offerings, it is difficult to access a healthy substitute that provides taste, flavour, satiety and nutrition,” Anand told FnB News.
A big challenge is the distribution footprint, which is critical. “The stiff and competitive existing brands, which are high on sugar, are seen to fight for shelf space with functional water-based wellness beverages. With consumers looking at health, taste and satiety, the way forward would be to opt for water-based nutritional brands,” she said.
Frost & Sullivan and Global Nutraceuticals market studies indicate that the nutraceuticals market in India is valued at $3 billion, while functional water-based wellness beverages are estimated to be $200 million. The options in India include Beltek Canadian Water Limited, which has a vitamin-enriched ‘Wild Water’ in three flavours targeting to boost immunity and energy, Valencia’s VitaMe and Hector Beverages’ Paper Boat brand teas.
VitaMe is not clinically validated, yet these are tried and tested to be a refreshing difference with no empty calories but those that are packed with nutrition with proven ingredients to ensure adequate hydration, de-stress and better sleep. “It is customised for our population because it is based on well-established Indian and international medical-scientific guidelines including FDA, DCGI, FSSAI and ICMR standards and recommendations. Each variant is developed to meet a specific urban Indian consumer need and all variants are first-in-India. Being low in sugar, a 300 ml of VitaMe is less than 60 Kcal and a 500ml is 90 Kcal,” noted the Valencia chief.
