Yoga Bar expands portfolio with new brand Yoga Baby; forays in baby care segment
Health foods maker Yoga Bar is foraying in the rapidly growing baby care category, with the launch of a new brand — Yoga Baby.
Suhasini Sampath, co-founder and chief executive officer of Yoga Bar, said the product range, which includes millet-based foods such as porridge mixes, is aimed at providing nourishment needs to young children.
The range will be available on the direct-to-consumer company’s online and e-commerce platforms, as well as retail outlets, she said.
In January this year, diversified group ITC announced it was acquiring Yoga Bar from its parent company, Sproutlife Foods, over a period of three to four years, to step up its presence in the health foods space.
A report by Avendus Capital forecasted the health foods and beverages category in India to grow to $30 billion by calendar year 2026.
The report added that Indian consumers could double spends on health foods and beverages over five years, and noted that India is the fastest-growing health food market, growing at a 20 per cent CAGR.
Research and analytics company Statista estimated that India had more than 600 direct-to-consumer (or D2C) brands last year, at a market size of close to $55 billion, fuelled by rapid expansion of e-commerce, aspirational demand from tier-2 and 3 markets, and innovation.
India's baby care market is expected to grow from US $ 1.67 billion in 2023, to US $2.91 billion by 2028.
