Zydus Wellness, based in Ahmedabad, is an Indian consumer goods firm with a diverse portfolio that includes nutrition and skincare products.
Arora mentioned that rising awareness about excessive sugar consumption is boosting demand for alternatives beyond traditional beverages like tea and coffee. “Consumers are changing their behavior to make healthier daily choices,” he noted.
He stated that the sugar substitutes market is currently valued at approximately ₹400 crore, where Zydus Wellness maintains a significant share. “We have a 96% market share,” he said, referencing data from Nielsen and IQVIA. He highlighted that the company is expanding its offerings in sugar-free foods, including chocolates and cookies, with an eye on international markets.
Additionally, the company provides blended sugar products that lower sugar intake while preserving taste, focusing on everyday usage rather than solely medical purposes.
Regarding protein, Arora pointed out that the segment is still developing and not fully represented in syndicated data. He estimates the market potential to be between ₹1,000 and ₹2,000 crore, driven by innovative formats like bars, cookies, chips, and ready-to-drink options.
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Zydus Wellness is enhancing its emphasis on protein through brands such as Complan and its acquisition of the RiteBite Max Protein business. “We are beginning to identify ourselves as a protein player,” Arora remarked, expressing expectations for the segment’s continued growth as nutrition awareness increases.
Addressing competitive pressures from new formats, established brands, and global trends, Arora asserted that innovation is central to the company’s strategy. He pointed out product format changes, targeting strategies, and usage occasions across brands such as Glucon-D, Complan, and Max Protein.
He explained that innovation occurs through both major launches and gradual enhancements. In recent years, Glucon-D has experienced increased penetration, while new formats like wafer bars and ready-to-drink protein products have been introduced. “Innovation comes from significant shifts and smaller, ongoing improvements,” Arora said.
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He noted that several new products aimed at energy, hydration, and protein needs are in the pipeline for the upcoming quarters, aligning with daily consumption habits.
When asked about emerging weight-loss drugs and substitutes, Arora conveyed that the company views wellness in a broader context than merely weight reduction. Zydus Wellness is concentrating on everyday health, sugar reduction, and balanced nutrition across various consumption points, rather than directly competing with pharmaceutical alternatives.
The company currently has a market capitalization of ₹14,520.86 crore and has witnessed a share price increase of over 13% over the past year.
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