Nutrition Supplement Category In India In India, nutrition has historically been considered a key factor when it concern

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Nutrition Supplement Category In India
In India, nutrition has historically been considered a key
factor when it concerns family health. A home-cooked meal is
considered the holy grail of adequate nutrition. Nevertheless, with
changes in lifestyle and adulteration of food, families have
adopted nutritional supplements. Driven by children and,
eventually, used by the entire family, the powder form produced by
popular brands such as Horlicks, Bournvita and Pediasure is
extremely popular. Most 45+ Indian adults consume vitamin
supplements on an everyday basis as healthy ageing behaviour. This
is aimed towards preventing deficiency diseases in old age.
But when it comes to millennials and Gen Z, both these forms
have not been able to generate enough appeal, since one has a
childish association and the other reminds of medicine and old
age.
The Indian audience exhibits the most common food trends, as
given below:
1. Healthy, clean label, natural
food
Previous generations might have defined ‘healthy’ as low-fat or
high-fibre, but millennials may define it from a more wholesome
perspective. They want products that are natural, organic and
sustainable.
2. Environmentally conscious products, sustainable
sourcing
Millennials are interested in how their food was sourced or grown,
and sustainability is a priority when buying food.
3. Ethnic food
Millennials are described as open-minded and curious. They like
trying new flavours and love cuisines that display a fusion of
ethnicities.
4. Influenced by their peers rather than traditional
influencers
Millennials rely heavily on websites, bloggers and social media
fitness professionals for health information. According to research
by the Center for Generational Kinetics, millennials will try a
snack based solely on an online rating, review or social media
post.
5. Love for snacks
Millennials graze instead of eating large meals. They are defined
as a generation that skips meals in favour of snacks and is more
likely than any other generation to snack upwards of four times a
day.
Millennials and Gen Z are reshaping the food and nutrition
category globally. They have picked up meaningful snacking in a big
way with no compromise on taste. This generation is willing to skip
meals and replace them with meaningful snacking. At the same time,
they are aware that their daily nutrition intake is getting
compromised. Hence, they look for potential solutions with clear
benefits.
Nutrition in a gummy form is one such unique form. This form is
gaining massive traction in the western countries, with promising
traction from early adopters.
Gummies
The gummy form comes with a couple of preconceived
notions.
First, it must have high quantities of sugar and, hence, not good
for health.
Second, it does not contain enough nutrition to supplement
individuals’ daily nutrition intake.
Let's move on to the next segment to understand the market and
the competition
Understanding Competition
Nutrition gummies is a nascent category but is growing
exponentially across the globe. Let’s take a look at some Indian
and global competitors for inspiration.
Power Gummies
Power Gummies is a supertasty vegan, unisex, chewable vitamin
dietary health supplement. It is prepared with high-quality
ingredients, and contains no gluten or gelatin. It is cruelty-free,
that means no animals were harmed in its production, and explodes
in delectable berry fruit and other citrus flavours.
The product is formulated with 10 essential vitamins (A to E),
biotin, folic acid and zinc, which are crucial for maintaining
healthy hair, nails and skin. It is positioned predominantly for
the urban Gen Z and millenials with an innovator mindset to try out
new products.
Olly
Olly Nutrition is a premium US-based well-being business in the
vitamins, minerals and supplements (VMS) category. Olly is known
for its gummy vitamins and supplements and also sells protein
powders and snack bars.
It was recently acquired by Unilever with the intention to
complement its existing massive Beauty & Personal Care and
Foods & Refreshment businesses with a strong, innovative brand
in the fast-growing health and well-being space.
Olly is positioned for urban individuals, with a clear benefit
story of energy, stress, sleep and beauty.
Influencing Consumer Behaviour Through Diffusion of
Innovation
Analyse diffusion of innovation in the marketplace
Q4 (a) Identify the consumer profiles for
the current product across the different stages of innovators,
early adopters, early majority, late majority and
laggards. (6 marks)
A few tips: It is important to understand where
your source of business sits in the innovation cycle. Only when you
have understood this can you determine where you would convert your
users from.
Q 4 (b) Recommend a strategy to Nutri-Gummies
for recruiting new users on the basis of diffusion of innovation
cycle. (8 marks)
A few tips: For a nascent category, it would
always be difficult to convert the early majority and late
majority. Hence, you should be clear in your approach for
Nutri-Gummies. You should not forget to consider adjacent
categories, such as hair and skin products, taking into account the
benefits offered by Nutri-Gummies.