Supplements sell ₹991.3 crore a year on Amazon India. Buyers have priced these brands at 0.5× to 13× revenue

The measure

Sales on Amazon India: the "bought in past month" figure at its lower bound, times the product-page price, times twelve. Read 4 to 5 November 2026, in the week of Diwali, so a whole year is likely lower. The floor also leaves out every listing with no badge. Protein is its own shelf and is not in this total. Multiples are our arithmetic.

What buyers have paid

Three strategic buyers came in nine months, while revenue was close to doubling. USV agreed about ₹1,583 crore for 79% of Wellbeing Nutrition; we found no closing notice, and FY25 is ₹118.5 crore in filings against about ₹170 crore in the company's statement. Hindustan Unilever paid ₹824 crore for the remaining 49% of OZiva on a pre-agreed framework. Marico paid ₹1,012.03 crore for 24.09% of Plix's parent; no valuation is stated, so that value is the price over the stake.

HealthyHey is the counter-example: GlobalBees took 60% to 79.6% for ₹8.9 crore, with revenue up about four times to ₹89.74 crore and net worth of ₹2.48 crore. A majority holder raising its stake is not a market price, and it still shows how far apart two brands on one shelf can sit.

Who sells supplements on Amazon

The shelf sells at least ₹991.3 crore a year, 1,377,000 units a month, across 435 brands. The top three take 26.3%. Indian D2C takes 41.1%, at most 50.0% if every unconfirmed brand is D2C, and acquired D2C brands 9.0%. Legacy Ayurveda houses hold 9.5%, multinationals 7.7%.

The largest brand has no funding round that we can find. Carbamide Forte, Novus Life Sciences of Mumbai, sells ₹117.1 crore across 155 listings and leads 7 of the 22 ingredients above ₹10 crore. Tracxn places the company at ₹100-500 crore for FY25 and lists it as unfunded. Kapiva, second, goes the other way: 65 listings, juices and resin more than capsules, and 15.9% of its Amazon money on one listing.

The mid-size band

16 brands at ₹10-50 crore take 30.5% and 85 at ₹1-10 crore take 30.9%, about as much as the four leaders. Tracxn figures are its free bands for the year to March 2025, not audited accounts; Wellcore's is its packer, Wellversed Health, which also sells other brands.

9 independent Indian brands sell ₹5 crore or more here with no round in our funding file or our searches: Carbamide Forte, Miduty, Naturaltein, Himalayan Organics, Rasayanam, Neuherbs, Krishna’s Herbal & Ayurveda, Nutrova, Inlife. That means none found, not none taken. Miduty and Naturaltein each read ₹50-100 crore on Tracxn with no rounds listed.

Which ingredients are open

Ingredient is Amazon's own category, which a seller chooses. The largest ingredients are the open ones: omega and fish oil, multivitamin, magnesium, collagen and biotin have no leader above 25% and under half the money in the top three.

Magnesium is the clearest opening. ₹86.3 crore, 20 brands at ₹1 crore, no leader above 15%, search up 1.27 times, and own-store launches up from 17 in 2024 to 49 so far this year. Creatine is filling fast: launches from 27 to 88, and two brands already hold 59% of the money. Shilajit is taken and cooling: Kapiva holds 71%, and search is 0.81 times last year's.

What buyers argue about

On Reddit, magnesium threads are about label chemistry. The most-read one, 505 comments, compares five brands by form and elemental magnesium per serving. Buyers argue that pure glycinate is about 14% elemental magnesium, so a label promising much more implies a buffered blend. That is their claim and we tested nothing. Trexgenics, at ₹3.5 crore on Amazon, draws 19 posts, more than HK Vitals' 15 at ₹31.0 crore. Naturaltein leads at 88 posts; Kapiva, second on Amazon, has 6.

On Amazon, buyers talk about whether it worked, and then about their stomach. Across 71 of the largest listings, Amazon's own summaries raise effectiveness on 69, value for money on 55, side effects on 43 and authenticity on only 5.

ChatGPT names different brands from Amazon's. Across 50 answers, HK Vitals is named in 60%, Carbamide Forte in 36% and Kapiva in 12%. OZiva, Little Joys and Baidyanath, all in Amazon's top twelve, are named in none.

The shelf beyond Amazon

Products shown for eight searches, none of them creatine. These are counts, never added to Amazon. HealthKart's own brands are 38% of what it shows and 62% of its first ten places. Each Blinkit dark store carries 249 supplements or more, and 37 brands are in all six.

What share of each company's sales this is

These compare a sale-week floor at consumer price with a company's revenue, so they check the method; they are not market shares. Plix's parent sells mostly in other categories, and Decode Age's year ended 19 months before this read. Carbamide Forte's floor of ₹117.1 crore sits inside Tracxn's ₹100-500 crore band for FY25. For Neuherbs and Krishna's Herbal & Ayurveda we found no usable figure in Entrackr, Inc42, Tracxn or general search on 5 November 2026.

What we predicted

We wrote down our predictions before we read the shelf. 6 of 12 held. The wrong ones share a cause: we expected the Ayurveda story and the gummy story. The money is in minerals and fish oil, in capsules and tablets.

Method

Amazon India: 70 searches, three pages each, 7,485 distinct listings, every product page showing a sales figure opened (3,135), 2,426 admitted by Amazon's own category. 17 searches name a brand; without the listings only those reached, the floor is ₹867.2 crore. Beside the shelf, never added: protein ₹210.3 crore, hair serums and shampoos ₹159.7 crore, and magnesium lotions and other topicals ₹8.2 crore. Every owner is researched by hand. Company revenue comes from business media and Tracxn's free profile.

The full report, with every table and chart: supplements on Amazon India, for investors (PDF). If you are investing in Indian consumer brands, book a discovery call.