Tufts University's 2019 Global Dietary Database observes that Indonesia is making slow progress toward meeting the recommended daily intake of key nutrients, including vitamins, for adults aged 20 years and older. Against the daily recommended level of 500 grams, Indonesia’s consumption of primary sources of vitamins, such as vegetables and fruits, is low, averaging only 227 grams of fruits and vegetables per day.
Local awareness of the benefits of consuming critical nutrients to boost one's immune system reached a tipping point following the outbreak of the COVID-19 pandemic, resulting in a surge in the demand for dietary supplements. Multivitamins are a popular product. YOUVIT, an Indonesian gummy supplement brand, was one of several brands gaining traction during the early pandemic stage with YOUVIT's sales tripling between February and April 2020, and the company is on track to continue growing.
Launched in 2017, YOUVIT offers a variety of gummy supplements to young adult consumers in Indonesia. According to Wouter van der Kolk, CEO of YOUVIT, the business' primary motivation is the fact that the Indonesian population continues to suffer from nutrient deficiencies, in addition to the cofounders' passion for a healthy lifestyle.
Market drivers, combined with the industry's rapid growth, aided YOUVIT in gaining early traction and rapidly expanding its business. With the assistance of an experienced FMCG investor, we raised over $6 million in seed capital. Our product line now includes six products that are sold in over 20,000 locations, up from 120 outlets when we launched in 2017. Our team has grown from seven to 120. Additionally, our annual sales have increased 14 times since 2017, Wouter explains.
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