Why this Yorkshire weight loss products firm is aiming for the Indian market

India has a population of 1.3 billion people with cardiovascular disease accounting for up to 27 per cent of all deaths, according to the World Health Organization (WHO) and obesity prevalence is at 40.3 per cent.

York-based OptiBiotix said the formation of OHI will allow significant opportunities for additional revenue growth through sales of the group's products in India.

Stephen O'Hara, CEO of OptiBiotix, said: "We are pleased to announce the setting up of a subsidiary in India, a country we have identified as of strategic importance for its high growth potential and access to Asian markets.

"This is all part of our plans to grow sales, margins, and product ranges with new and existing partners in key strategic markets.

"Establishing a physical presence allows us to maximise the potential opportunity in this market and and if successful make a significant contribution to future sales growth."

The middle-class population in India is expected to reach 475 million by 2030. Currently most middle-class consumers live in the European Union (EU) and the United States, but over the next decade, the majority will shift heavily toward India, with one in four global middle-class consumers expected to reside in India by 2035, a study showed.

The nutraceuticals market in India is expected to grow from $4bn in 2017 to $18bn in 2025 against the backdrop of rising demand for dietary supplements from the upper and middle classes.

In March 2021, OptiBiotix announced the appointment of Dr Taru Jain to focus on business development and growing sales in the strategically important Indian and Asian markets. The formation of OHI builds on that presence.

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