SOUTH AFRICA – Feelgood Health, a consumer healthcare company based in Cape Town specializing in natural health products, has secured ZAR4 million (US$ 280 thousand) investment from Enygma Ventures to scale its business and reach a wider market.
Feelgood Health has been in operation for over 20 years and has experienced steady growth that has positioned them as a leader in the natural health supplies space.
The company also has a rapidly growing wholesale division called Natural Wholesalers, focused on wholesale distribution of hundreds of health and lifestyle products to health shops, pharmacies, gift shops, vet shops and deli’s across the country with the aim of growing the natural health market and supporting business growth in South Africa.
Feelgood Health offers remedies, supplements and vitamins for adults, children, babies, and even pets.
A report by Fortune Business Insights says the Vitamins and Supplements Market was US$ 129.60 billion in 2021 and is projected to reach US$ 196.56 billion by 2028, exhibiting a CAGR of 6.13% during the forecast period. The market stood at US$ 119.66 billion in 2020.
The COVID-19 pandemic has been a huge driver of natural health products as more people are keen on a diet that delivers just more hat nutritional benefits. The masses are opting for natural remedies and preventive measures for infections.
The U.S. National Health and Nutrition Examination Survey, for instance, mentioned that more than 50% of the U.S. population consumed vitamins and supplements amid the pandemic.
Researchers have also found that function-specific antioxidants, especially for boosting one’s immunity, are set to create new growth opportunities.
Feealgood Health recently graduated from the Startup Circles investor readiness program where they were handpicked by Enygma Ventures for this seed investment which will see them grow their product offering and expand their reach.
“Of the many things that the Covid-19 pandemic has highlighted, the need to have steady and reliable access to health supplies has been at the top of the list” said Lelemba Phiri, Principal and Operating Partner for Enygma Ventures.
“The Feelgood Health team brings decades of experience products. We are excited to see them scale at a time when natural health products and services are needed most.”
Would you like to get regular updates of such news articles? Subscribe to our HealthCare Africa News, email newsletters, which provide the latest news insights from Africa and the World’s health, pharma and biotech industry. SUBSCRIBE HERE