With almost $800 million revenue, India overtakes US to become largest market for Herbalife

Further he said India sales rose to $203.5 million for the three months ending March 2024, up $24.9 million or 13.9 percent over the corresponding period last year and he is expecting to close the full year with around 14 percent topline growth.

Against this, the firm’s global sales stood at $5.06 billion for the year to December 2023, he said, adding Asia Pacific continues to be the company’s strongest region, with $1.72 billion of sales and is predominantly led by India as a region driving that growth.

“Our product portfolio expansion, brand promotion, and a wide network of distributors who are over 1 million here have driven sales growth. Weight management and the energy & fitness category continue to perform well here. The product portfolio comprises 48 products across fitness & performance, daily nutrition and overall health,” he added.

“In 2022, India overtook China to become the number two market for Herbalife in the world. But it’s growing faster than China, faster than Mexico, faster than the US and so I think India is currently set up to become our largest market globally,” the company’s global chief executive John Agwunobi had predicted in March 2022.

Herbalife India, which has been here for over 20 years, is not however looking to take the ayurveda range to global markets.

The domestic beauty products market is evolving at a rapid rate, with ayurveda seeing a significant growth. A recent Verified Market Research study valued the ayurveda beauty market at $8-9 billion.