Investors making bigger bets on India’s health supplements sector

As more Indians prioritise preventive wellness, investors are increasingly taking note of the opportunity in India nutraceuticals and supplements sector. Despite the modest increase in the absolute value, the number of deals have gone down from 30 to 11 rounds in the same period.

Speaking to businessline, analysts and investors suggest that the wider shift in India towards prevention and everyday wellness has sustained investor interest in the sector while better scale and profitability metrics have also led to an uptick in ticket sizes. Mohit Chopra, Deals Leader.

What Happened

In the earlier phase rapid revenue growth, digital traction and customer acquisition were important proof points. He added that they are also increasingly prioritising an additional layer around the strength of the evidence supporting the product positioning and regulatory compliance.

• According to data from market intelligence firm Traxcn, equity funding for nutraceuticals/supplements companies stood at $72 million for 2026 (YTD), on a steady incline from the $59 million in 2020.

• Multiple supplement start-ups, like OZiva, Cosmix, ZeroHarm Sciences and Earthful have secured investments in 2026 both from both private equity firms and strategic investors like FMCG giants Marico and HUL.

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Key Details

Khaitan mentions that the business model has evolved from simply selling supplements to programme based approaches, which is helping brands differentiate themselves. As for how companies in the space are assessed, he said that a strong product alongside favourable unit economics remains.

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Why It Matters

Despite the slew of domestic players, foreign brands as well as the import dependency for some active ingredients like vitamins are expected to be a challenge for the industry going forward. Chopra believes that the strongest defence for Indian companies will be.

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What Reports Say

Coverage of the story so far points to:

• Continued reporting by BusinessLine as more details emerge