With The Aim To Grow Almost Twice Their Network Nutrify Today Is Spearheading The Growth Of The Global Nutraceutical Industry
Nutrify Today is a marketplace platform that enables nutrition businesses within India and globally. It was founded to get India onto the global map of the Nutraceuticals Industry.
India is a nation that is synonymous with herbs, ancient medicines, and medicinal herbs. The principles of nutrition and the science of medicinal herbs existed in India before other countries. Even today, people from all over the world come to India to look for solutions in wellness. But by and large, we cannot be considered health-conscious individuals.
The good news is that more and more brands today are selling nutraceutical products in India than ever before. They’re selling products targeted at different diseases and health concerns. India has also seen an increase in companies producing nutraceutical products. One such company making a difference by making these products available is Nutrify Today.
Nutrify Today is a marketplace platform that enables nutrition businesses within India and globally. It’s an assistive technology that also creates a marketplace. It was founded on 5th February 2020 after seeing the need for creating a common platform for tech and Nutraceuticals professionals within the industry. It was founded to get India onto the global map of the Nutraceuticals Industry.
Nutrify Today And Its 3 Principles
Nutrify Today operates on 3 principles - Network, Business, and Upskill.
1. Network: There are over 18000 industry members from all over the world members of Nutrify Today’s web platform Nutrifytoday.com. This network alone has generated over USD 22 million for different businesses. As a natural extension of online networking activity, there is an annual international C suite summit meeting held in the field of nutraceuticals. Industry leaders meet to talk about investments and business deals.
This networking activity is represented on nutrifycsuitesummit.com, and for the year 2022, the event is taking place at the Taj Mahal Palace on 17th June. An ASINDOUS (Asia-Indo-US) highway will be inaugurated at this event. This will enable harmonised market access to member countries, boosting the small to mid-sized nutraceuticals industry.
2. Business: With its web technology tools that leverage data of over 1700 ingredients, 1300 global trollers, and 82 supply chain companies, Nutrify today connects and engages with companies in the commercialisation process. It helps companies design products distinct from others in the market and help commercialise them at a reduced time; 40% lesser.
Going one step forward, the platform also enables sellers of ingredients, contract manufacturing, and services to network with companies seeking these services. This means time and money saved for all concerned.
There are large players like Euro Alliance- Switzerland, Jubilant pharma- India, Cell Chem- Canada, Bharat Serum – India, Keto gains- Mexico and more leveraging the platform's power. It has helped start-ups like Esperer Nutrition, Myhealth, and Nanoveda to build a robust business.
3. Upskill- With a dedicated academy to assist people in mid-management positions in nutraceutical companies and industry aspirants, Nutrify Today has an academy called Nutrifytoday academy. This is an e-learning EdTech platform where topics like Business Development, marketing, technical knowledge, and regulations from top-grade universities are taught by industry experts. So far, it has certified over 2000 students, and it is going strong towards achieving its goal of 5000 students by year-end 2022.
The Growth Of Nutrify Today
Nutrify Today has helped international players like Qualitas Health, AAK, Euroalliance, MyHealth, and many more access the Indian market. Likewise, it also has given leverage to Indian innovators to access the international market. The company is focused on Foodtech and nutraceutical companies alongside working with government organisations worldwide to shape policies that encourage growth for responsible nutrition and harmonised market access.
According to the brand, Indians are mostly calorific sufficient but malnourished. This is the major cause of its high lifestyle disease rate. After the pandemic hit, Indians have learned the wellness the hard way, and studies show a marked increase in the consumption of nutraceutical products. The industry has grown from a USD 9 billion industry in India with 10% growth per annum before the pandemic to 22% growth, before settling at 18%. This is exponential growth for a small player like India in the world’s Nutraceutical Industry.
The one industry that is slated to boom in India is the Nutraceuticals Industry. The global demand for Indian nutraceutical ingredients has gone up too, and the government has taken major initiatives through Ayush and the Nutra task force. The Vision is to take the Indian nutraceuticals market to USD 100 Billion. India is more than capable of meeting this challenge head-on with over 52 agro-climatic zones, making it one of the few countries with a vast diversity of medicinal plants.
India is at an exciting place in the Nutraceuticals industry as it is all set to be a major success. India alone has over 1700 documented medicinal plants waiting to be commercialised globally and there are so many traditional use herbal medicines that are undocumented. Nutrify Today also initiated the creation of the Nutraceutical Taskforce in India under the chairmanship of the principal scientific advisor to the Government of India.
Nutrify Today is democratising the supply chain of the Nutraceuticals industry. It has made it possible for small to mid-sized industry players to access international markets through its platform. It uses its lead generation tools to connect companies and help them commercialise their innovation. And by bridging the gap between training and education in the nutraceuticals industry, it is readying a workforce that will propel India into a 100 billion market.
What Does Nutrify Today Aim To Achieve In The Future?
Until now, Nutrify Today has been well received in the industry without major challenges. But bigger challenges await, like in the case of exponential growth; they need to balance funding work.
The company has raised half a million from Dr Anand Swaroop in the USA. Dr Anand is a successful entrepreneur in the USA in Nutraceuticals. Along with the investment, he also provides strategic inputs for scaling Nutrify Today’s business in the USA. They consider all networking events, matchmaking events, CROs, and Edtech platforms as their competitors.
The target is to grow its industry network to 450000 by 2024 from its current 18000 industry members. They wish to emerge as the Amazon of the Nutraceutical B2B industry worldwide, creating networks from commercialising innovations to supply chain aggregation to supporting industry capacity building through training and certifications.
Meet The Founding Team
Amit Srivastava has 27 years of experience in Nutraceuticals Business Development in the USA, China, and India. He has worked at places like Fresenius Kabi, Dr Reddy’s labs, and Rapid Nutrition, an Australian company in China. His last assignment was setting up the largest nutraceutical incubation hub: Bio valley incubation hub for the government of India. Amit is a pharmacist by education with an Honorary fellowship in international marketing.
Priyanka Srivastava is a seed investor and an expert in HR and finance. She has extensive experience in Human Resource Management. This has helped her to attract the finest professionals in the industry. She has also successfully stickiness policies to ensure Nutrify Today team has a long stay at the company. In the last 2 years, there has been zero attrition.