Post-Covid, the health narrative has led to a surge in demand for nutraceuticals and dietary supplements in India. With an expected CAGR of 5% from 2024 to 2032, the market is shifting towards vegan 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 the rise of startups such as Osiva, MuscleBlaze, Queveda, Wellbeing Nutrition, and What's Up Wellness. Together, these start-ups have raised $70 Mn +.

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

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

We use high-grade plant proteins and real natural ingredients. All formulations are researched by experts and manufactured at our Bengaluru unit itself to ensure complete control over quality and packaging, "says Harish

The two 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. At present, the company has 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 failed, and although it did not generate significant traction, the brand's popularity increased due to its participation in Parupa.

The Beginning of Cosmic Wellness

An industrial engineer by profession, Harish struggled with PCOS and looked for ways to improve her health before setting up Cosmix. She realized that there was a lot of misinformation around this and that there were no 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 can easily access reliable information and find real solutions. My priorities were safety, trust and scientific accuracy, "the cofounder said.

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

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

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

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

How Cosmix Wellness overcame the manufacturing challenge

Facilitating this was a huge task for the co-founders as they had no background in construction. The co-founders invested around Rs 60 lakh and launched the unit with all their savings and borrowed funds. Understanding the complex manufacturing 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 travelled 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 a variety of factors, including harvest 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 almost four years of setting up the unit, there are daily challenges of sourcing, treating and culturing each plant, says Jagadeesh

According to Jagdish, this has helped Cosmix stand out in three key areas. The brand now prioritizes protein quality and invests in high-grade plant proteins such as pea proteins for premium product quality. Cosmix avoids artificial flavours and sweeteners and opts for natural ingredients like vanilla bean, cocoa powder and monk fruit.

In addition, taking advantage of their herbalism expertise, they address digestive issues related to protein consumption by combining a proprietary plant blend to enhance digestive health.

"An artificial sweetener called stevia can cause intestinal problems with prolonged use. In our protein mixture, we replaced it with monk fruit. Many other brands have followed suit. However, it is our manufacturing process that sets us apart, "he added.

The journey ahead for Cosmic Wellness

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

A key milestone of FY25 is establishing a global presence, which includes the launch of a new section on our website dedicated to education. Titled Learn, the section will showcase informative content like Mythbusters, a glossary section, and more, "Jagdish added.

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 benefits of their products compared to others in the market.

Going forward, the growth of Cosmix Wellness in the Indian plant protein market is expected to reach $1.21 billion by 2029 from the current $900 million, as per a report by Modar Intelligence.