Post-Covid, the health narrative has led to an increase in demand for nutraceuticals and dietary supplements in India. With an expected CAGR of 5% from 2024 to 2032, the market is shifting towards vegetarian and plant-based supplements, attracting consumer and investor interest.

Traditionally dominated by brands such as Amway, Cipla, Herbalife and Himalaya Wellness, the market has recently seen a rise in startups such as Osiva, MuscleBlaze, Queveda, Wellbeing Nutrition and What's Up Wellness. These startups have collectively raised $70 Mn+.

Cosmics Wellness is another startup capitalizing on the growing plant-based supplement market. Founded in 2019 by Surya Jagadish and Vibha Harish (husband and wife), this early-stage D2C wellness brand offers plant-based protein supplements to the 25-45 age group.

Cosmix's unique selling point in a crowded market is its herbal blends and globally sourced superfoods.

“We use high grade plant proteins and real natural ingredients. All formulations are expertly researched and manufactured at our Bengaluru unit to ensure complete control over quality and packaging,” says Harish.

Both started selling through their website in December 2019. In 2020, they expanded into offline retail by joining hands with cafes and gyms. Later they also ventured into online marketplaces like Amazon and Flipkart. The startup currently serves more than 2 lakh customers.

In February 2024, Cosmix appeared on Shark Tank and received an offer of Rs 1 crore from Namita Thapar for 1% equity. Despite the offer, the deal fell through and the brand's popularity grew due to the competition, although it did not gain much traction.

The beginning of Cosmic Wellness

An industrial engineer by profession, Harish struggled with PCOS and was looking for ways to improve her health before founding Cosmix. She realized there was a lot of misinformation around this and a lack of reliable sources for effective solutions in the industry.

“Initially, my goal was to improve my own health, but along with my own health, I also saw an opportunity to help others. I wanted to create a platform where people could easily access reliable information and find real solutions. "My priorities were safety, trust and scientific accuracy," says the cofounder.

To accomplish this mission, they studied herbalism for five years and discovered adaptogens that helped them manage their health long-term. In June 2019, they assembled a team of experts, including herbalists and doctors, who collaborated for nearly eight months to develop and test each product. Together with her husband Jagadish, she founded Cosmix in December 2019 and launched the first batch of products through their website.

Before starting Cosmix, Jagadish was an engineer and served in the Indian Navy for four years. His aim was always to make a difference in the country and Cosmics was his way to achieve it.

The brand launched with six SKUs including supplements for sleep, gut health, hair, immunity and stress. Today, with a total of 15 SKUs, the brand's protein supplements account for 50% of sales. Bengaluru, Mumbai, Delhi, Chennai, Hyderabad and Ahmedabad see the highest traffic on the startup website.

The co-founders claimed that the bootstrapped startup generated revenue of Rs 30 crore in FY24, with repeat customers accounting for 45% of its top line. In FY23, the startup generated revenue of Rs 5.3 crore and posted a net profit of Rs 30 lakh.

How Cosmics Wellness Overcame the Manufacturing Challenge

Having no background in manufacturing, facilitating this was a huge task for the co-founders. The co-founders invested around Rs 60 lakh and launched the unit using all their savings and borrowed funds. Understanding the complex production process was a major challenge, as was navigating the supply chain and securing the right sources.

To understand the entire manufacturing process, the co-founders traveled extensively across the country, consulting doctors, Ayurvedic practitioners and industry experts. They visited several facilities and networked extensively to procure the right machinery and resources. They studied various factors including harvesting conditions, climate and local price fluctuations.

“It took us about eight months to a year to complete the process and set up our unit in Bengaluru. Even after nearly four years of setting up the unit, there are day-to-day challenges of sourcing, treating and processing each herb,” says Jagadish.

According to Jagadish, this helped set Cosmics apart in three key areas. The brand now prioritizes protein quality, investing in high-grade plant proteins such as pea proteins for premium product quality. Cosmix avoids artificial flavors and sweeteners and opts for natural ingredients like vanilla bean, cocoa powder and monk fruit.

Additionally, utilizing their herbalism expertise, they address digestive issues associated with protein consumption by incorporating a proprietary herbal blend to enhance digestive health.

"Stevia, an artificial sweetener, causes intestinal problems with prolonged use. We replaced it with monk fruit in our protein blend. Many other brands followed suit. However, our manufacturing process is what sets us apart," he added.

The journey ahead for Cosmics Wellness

The D2C Wellness brand is committed to educating and empowering consumers. Looking towards FY25, the startup plans to develop new products, focus on R&D and build a strong team to support growth initiatives.

“An important milestone for FY25 is establishing a global presence, which includes launching a new section on our website dedicated to education. Titled Learn, this section will showcase informative content like mythbusters, a glossary section and more,” added Jagadish.

The startup aims to reach a revenue target of Rs 75 crore in FY25. To achieve this, they plan to emphasize their key selling points through targeted marketing campaigns, highlighting the advantages of their products compared to others in the market.

Going forward, the Indian plant protein market is expected to reach $1.21 billion by 2029 from the current $900 million, according to a growth report by Cosmics Wellness and Moder Intelligence.