We see a great future in nutraceutical business
Besides being a completely export oriented company Mission Vivacare is also on the verge of becoming one of the major nutraceutical suppliers. Sachin Jagdale reveals more
From a small outfit in 1992 to a company with turnover of Rs 110 crores, it has been a splendid journey for Mission Vivacare. Every organisation has a mission that it is supposed to fulfill and Mission Vivacare’s mission is to promote wellness. Today Mission Vivacare is a dynamic young organisation with manpower of 450, dedicated to develop innovative healthcare products for consumers around the world.
Mission Vivacare has manufacturing facilities in Sarigam, Gujarat and a new state-of-the-art development facility at Indore’s Special Economic Zone (SEZ). From being just a pharmaceutical company Mission Vivacare is evolving into a health products company with a strong focus on nutraceuticals. “The worldwide nutraceutical market is estimated to be approximately $ 250 billion and is growing at approximately 20 percent per annum. Nutraceuticals belong to the wellness industry and it is being forecasted that this industry will exceed $ one trillion in a few years time. An ever-increasing number of consumers are concerned with maintaining quality of life by using the best effective natural products,” says Akkshay Mehta, MD, Mission Vivacare. He adds, “We see a great future in nutraceutical business and we have developed innovative, differentiated and value added nutraceutical products to meet expectations from consumers. We have received an overwhelming response from consumers and trade around the world to our products and we expect to have great success with these brands.”
Mission Vivacare’s nutraceutical products are under the umbrella brand “VIVAPRIME”. All the products are combination of vitamins, minerals, enzymes, herbs and other natural sources. “Our nutraceutical products will be manufactured as per US Good Manufacturing Practices (GMP) guidelines. In the US the Food and Drug Authority (FDA) regulates label claims, usage of ingredients and toxicity of nutraceutical products. Hence the regulation is not very tedious or time consuming,” says Mehta.
The company has been export-oriented from the start. Explaining the rationale behind this policy, Mehta informs, “We continue to find better value for our products in the overseas markets and have therefore evolved a strong exports focus.” However, considering the evolution in the Indian market Mehta believes that they should be able to launch their products in India in the next one to two years.
For a 100 percent export-oriented company like Mission Vivacare, global networking with international companies and distributors is very necessary. Mission Vivacare has strong tie-ups with certain international companies and distributors that have helped it expand its global business. “We have a tie-up with Medrel GmbH, Germany since the last 13 years to market some of our products. We also have strong tie-ups with our distributors in most of our exporting countries wherein they have exclusive tie-ups with us as their principals. Such exclusive tie-ups have helped us grow together. We are now looking for tie-ups with big healthcare companies to develop and market some of our new products,” says Mehta
Mission Vivacare is moving ahead with a strong focus on nutraceutical products and it plans to introduce them in all major markets around the world with a strong promotion to consumers and health professionals alike. Mehta rightly sums up his intentions, he says, “We hope to develop these products into mega global brands.”