As more Indians prioritise preventive wellness, investors are increasingly taking note of the opportunity in India nutraceuticals and supplements sector.
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.
Despite the modest increase in the absolute value, the number of deals have gone down from 30 to 11 rounds in the same period, indicating that companies are now able to secure larger checks as they demonstrate scalability.
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.
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, PwC India suggests that, in recent years, there has been an evolution in the way the D2C supplement space is assessed.
“In the earlier phase rapid revenue growth, digital traction and customer acquisition were important proof points. As the category matured, investors are now looking more closely at sustainable profitability,” he said.
He added that they are also increasingly prioritising an additional layer around the strength of the evidence supporting the product positioning and regulatory compliance.
Ankur Khaitan – Principal, Fireside Ventures, the Bengaluru-based venture capital firm that has invested in around 14 health and wellness start-ups – suggests that beyond just new players, the industry is now also seeing a range of categories emerging, like gut health, sleep, menopause, healthy ageing and weight management.
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 key.
“Retention is particularly important in consumer health because if consumers keep coming back, it is often the first indication that the product is actually working for them,” he added.
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 to build consumer insight such that they can develop products suited to Indian consumer needs and price points.
He also mentioned a key to competing with global brands would be to build credible and responsible claims, as well as to maintain consistent quality and testing standards. “Over time, companies that combine locally relevant brands and innovation with globally comparable standards of product quality and science should be better placed to compete with international players,” he said.
Published on August 19, 2026
