Power Gummies, with its portfolio of vitamins and nutritional supplements in gummy format, has introduced a new fun way for consumers to keep up with their nutritional requirements, tells Divij Bajaj, Founder, Power Gummies to Tarannum Rana
You have recently received a Pre-Series A funding by DSG Consumer Partners. How do you plan to utilise these funds?
With recent funding from DSG, we would be proactively focusing on consumer awareness triggering the importance of right nutrition. We plan to tie up with major influencers to communicate that message across because we’ve seen a robust response through influencer marketing, a new age media technique that we have deployed and the same has driven results for us. Our focus would also be around team building, improvising packaging, supply chain management and doing scientific research for future variants in the health and nutrition supplement market. The brand also plans to expand further in the OTC category, making Power Gummies a household name in the near future as far as the segment of adult nutrition is concerned.
Apart from providing funds, will DSG Consumer Partners be involved with Power Gummies’s development in any other way?
Yes, DSG has been more than just an institutional fund for us. They closely monitor and work along to improve management systems ranging from financing, accounting to legal support. They have been helping us through their network to get through the right industry experts. With them coming on board, a lot of opportunities have opened for Power Gummies in terms of market places, industry insights and distribution network. We have been able to better manage our team and think of growth prospects, research, development as well as improve existing team structure and product line.
Tell us about your growth story so far.
The response has been phenomenal in the domestic and international market. Assessing the scepticism that consumers have of long term allopathic medication, we decided to work our way around the anxiety of consuming pills/syrups with alternative sources of nutrition. The company’s main focus from the behest was to bring nutrient supplements in a well researched and scientifically backed product which lead to the production of Power Gummies.
Before we launched the final product, a lot of research on possible barriers and challenges was done by us – we wanted to make sure that Power Gummies as a niche product is visually appealing, good to taste and something consumers do not need to be reminded of as compared to consuming pills or medicines in any form that might not be good to taste. A number of times, we have seen scenarios where people stop taking the prescribed medication due to lack of motivation, due to psychological fear of side-effects Our USP, we’d say, is overcoming these challenges where people are self-motivated to consume our products regularly. Also, since it’s an over the counter product, consumers do not need prescriptions to purchase the same, making it accessible for all. We are currently selling products worth above 8 million INR every month. We have a loyal brand following which can be seen through our social media pages where people of all demographics – male, females, millennials, the 30-40 age group from Tier 1, 2, 3 cities – have been actively engaging with Power Gummies.
After Biotin Power Gummies, what all other products are in the pipeline?
Talking about the big picture, we plan to launch one more variant soon – the Fat Loss Gummy variant which would bring in a tasty way to reduce fat. Currently, it is under the final stage of clinical trials as we want to make sure that we bring to the market a product that is scientifically backed and contains best-in-class ingredients to deliver the required results. We are creating a new standard for the adult nutrition market for any new players/ products/ competition to follow suit when it comes to the science and precision required before any go-to market strategy.
Your brand’s marketing seems to be focussed specifically on women. Do you have any products coming up specifically for men as well?
Our product is gender-neutral, thus being fit for consumption for both men and women. Women comparatively face more hair loss and brittle nail issues as compared to men since estrogen production in the body goes down in middle age women. Not to mention that in today’s age of millennial diets, stress and pollution it becomes more challenging for women to maintain and replenish their nutrition requirements. Even for men, body image issues, mental stress and peer pressure make them conscious about thinning hairline, hair loss and we have seen a surge in men ordering our products.
You claim that your products are plant-based, and do not contain gelatin or other animal-derived elements. What is the composition of Power Gummies?
Power Gummies have a base of Pectin which is 100 per cent vegetarian and are an amalgamation of Biotin, Zinc, Folic acid and 10 essential vitamins – a panacea for many hair and nail problems. Power Gummies supplements are 100 per cent vegetarian and completely gelatin-free, gluten and cruelty-free.
Recently, a similar US product, SugarBearHair supplements have come under the scanner for containing a biotin dose much higher (over 160 per cent) than what is recommended. What are the permissible levels of Biotin recommended in India? What is the dosage composition of your product?
Power gummies are FSSAI approved and FDA compliant, the percentage composition mentioned on our products is in sync to the guidelines provided by the government of India and does not exceed the recommended dosage in any way. We follow all guidelines and rules set by ICMR, and all our batches go through a series of clinical trials before getting to the market. We comply with all the rules and regulations governing the adult nutrition market and understand the sensitivity, trust and responsibility bestowed upon by the healthcare sector by government bodies and consumers alike.
How is India’s nutraceutical supplements sector growing? What kind of potential do you see in it?
According to a 2018 Assocham Knowledge report, the Indian nutraceuticals market is expected to grow from $4 billion to $18 billion by 2025. We see high demand as people are getting aware of the importance that vitamins and proper nutrition have in their lives. As people now prefer quality products and don’t mind paying for it, health supplement and nutraceutical space is expected to grow about 6 times overall in the next five years or so.