Adding nutraceuticals to beauty

Over the last few years, the beauty industry has seen an influx of beauty products. Besides cosmetics the space has expanded to include other dermatology led products for skin care. Dermatology led products, or nutraceutical supplements which help address skin, nail and hair concerns have also found a space. Realising there was a lack of trustworthy and clean wellness supplements in the market, Anousha Chauhan launched Beautywise, an edible beauty brand. “We found that the main issues in the market were inaccurate dosage, low bio-availability and green washing. To address this we came up with innovative solutions using a dual-action capsule technology that combines oil soluble and water soluble ingredients in one capsule and enhanced absorption,” says Anousha Chauhan, founder, Beautywise.

Last November, Beautywise won the ELC-NIV and Nykaa’s Beauty and You award in the Community category, winning $10,000 which has given the company a boost. “We were bootstrapped until February 2024,” says Chauhan. “We have just closed our first round of seed funding of Rs6.5 crore with angle funds and VC funds,” she adds. Associated Capsule Group, a leading provider of integrated solutions for pharmaceutical and nutraceutical industries and also the manufacturer of Beautywise capsules, is also a strategic investor in the brand.

Founded by Anousha Chauhan and her brother Shreyansh in 2021, Beautywise specialises in dermatology-led supplements, specifically designed to address targeted skin and hair concerns. The company’s product portfolio has changed over the years starting with gummies to capsules to its recently launched protein mixes.

According to Chauhan, one of the things that has helped the company being taken seriously by consumers is the fact that they have integrated dermatologists and specialists at every stage of their research and development. “This comprehensive approach ensures our supplements effectively address specific concerns like pigmentation, premature aging, sun damage, and skin sagginess. Our commitment to developing clinically backed products with top-grade ingredients has garnered trust across the industry,” she says. According to her, the company holds exclusive partnerships with some of India's largest aesthetic skin clinics and well-established pharmacies pan India. The company also sells through partnerships with over 150 skin clinics and more that 500 pharmacies pan India, along with a strong online presence.

India’s share of the global nutraceutical industry is less than 4 per cent, with USA, Japan and Europe holding 90 per cent of the total global nutraceutical market. According to data from the Ministry of Food Processing Industries, the Indian nutraceuticals industry is expected to grow at 24 per cent CAGR, from $4 billion to $18 billion by end of 2025. With the urban Indian population becoming health and fitness conscious is providing a massive growth opportunity for the nutraceuticals industry in India. Due to this, the market is expected to witness significant growth. Today while 28 per cent of users are taking vitamins, minerals and supplements (VMS) to improve their appearance, 50 per cent of Indian consumers address hair related issues by taking VMS.

So how has the Indian consumer taken to neutraceuticals? Well, it varies state to state as different states have different mind sets and climatic conditions. “For instance, consumers in sunny states require more protection against sun damage so skin brilliance is a best seller. In metros with heavy environmental pollution skin resilience, which protects the outer skin barrier becomes an exceptional supplement. Fish has high acceptability in East India where we see disproportionate sales of marine collagen, while in Northern states vegan collagen builder sells more,” says Chauhan.

The company’s product development strategy is pivoted on consumer research as well as on the recommendations of beauty professionals. “With that in mind we are focusing on expanding our portfolio with clinically researched products to address new markets. We are in the process of developing three highly efficacious products which we will be launching in April 2024. They include solutions utilising probiotics for skin health, newly isolated strains for targeted gut micro biome and coenzymes, plant extracts and antioxidants for anti-ageing,” says Chauhan.

The NIV/Nykaa partnership has also opened the company to a network of fellow entrepreneurs, industry leaders and specialists. “The traction we have gained with the Beauty and You award has also been immense. For a start-up, the award has also helped us become more visible with the coverage provided,” says Chauhan.

For now, the company is actively looking to expand and solidify its presence in skin clinics and pharmacies, and establish stronger distribution networks and implement promotional activities to reach a wider audience. “We foresee India replicating what we did in pharmaceuticals in nutraceuticals as well. Given the multiple environmental stressors as well as an increased interest in beauty overall in the consumer mindset, we believe that the nutraceutical industry has high growth potential,” says Chauhan.