Nutraceutical Start-up Power Gummies goes global with its first expansion to Dubai
National: With the mission of providing good health to everyone, nutraceutical start-up Power Gummies has announced its first global expansion, with the products now available across Dubai. The Company will be investing more than INR50 million in its UAE project. The Dubai expansion is in line with the strategy of increasing its global footprint and making Power Gummies an international brand.
Busy lifestyles and rising health consciousness have increased the demand for nutraceutical products as dietary supplements are preferred in addressing nutritional deficiencies. Consumers’ shift in preference has opened the doors for Gummies to make a mark as a tasty option to maintain health and also match their hyperactive lifestyles. Considering the overwhelming response in India, the Company decided to expand to Dubai, the world’s makeup hub, after receiving requests from global consumers.
Whereas the products will presently be exported to Dubai, Power Gummies plans to set up its warehouse in the city to ensure speedy delivery across the UAE. The Company is also planning to expand its market presence through top premium modern retail stores in the coming few months.
In line with its brand mantra “Health Powered by Happiness and Backed by Science”, Power Gummies is revolutionizing the nutraceutical sector worldwide by bringing in chewable vitamin gummies to promote nutrition. Founded in 2018, the nutraceutical start-up has already served 200,000-plus consumers and sold more than 3 million Gummies. The start-up recently raised a round led by 9Unicorns. A dynamic and popular brand, Power Gummies held its first round of seed funding in 2019, led by venture capital firm Alfa Ventures. By early 2020, the brand had extended a pre-Series A round from DSG Consumer Partners. By mid-2020, they raised an undisclosed amount from Venture Catalysts in an extension of its pre-Series A round of funding. Additionally, Power Gummies has roped in millennial icon Shraddha Kapoor as the brand ambassador and the face of its Hair & Nails Vitamin Gummies.
According to industry reports, the UAE dietary supplements market is expected to reach US$155.85 million by 2026, growing with a CAGR of more than 6% during the forecast period. Rising awareness of dietary supplements among consumers is the major driver for the UAE dietary supplements markets.
Talking about the expansion, Divij Bajaj, CEO & Founder – Power Gummies, said, “We are thrilled to take Power Gummies international. Beginning our global outreach with Dubai is a natural expansion, given the market similarities between India and Dubai. The need for nutraceutical products is growing globally as consumers turn more health-conscious. Consequently, consumers are seeking something with long-term benefits that fit easily into their busy schedules. We are extremely optimistic about catering to consumer expectations while satisfying desires and safeguarding their health and well-being. Soon, we will be available in all cities across the UAE. Meanwhile, the next milestone is to build our presence in South Asia.”
Functioning on a D2C business model, Power Gummies intends to launch 40-plus variants over the coming years by fostering awareness and building the right consumer base. Power Gummies started with the mission to give Global Podium First Indian Nutraceutical Brand.