Business Today

ITC to enter dairy beverages market in India, eyes 5-10% market share in 1st year of operations

ITC's food division is already present in India selling fruits-based beverages for the past four-five years.

twitter-logo BusinessToday.In        Last Updated: May 4, 2019  | 08:28 IST
ITC to enter dairy beverages market in India, eyes 5-10% market share in 1st year of operations
ITC Ltd is mulling to broaden its reach in the Indian market by expanding its dairy beverages portfolio to the rest of the country by next summer.

ITC Ltd is mulling to broaden its reach in the Indian market by expanding its dairy beverages portfolio to the rest of the country by next summer. The company is also looking to grab a 5-10% market share in the first year of its operations.

With the launch of its three fruit beverages under its B Natural brand in PET bottles, ITC is on the expansion spree. The company presently offers nine flavours of fruit juices in tetra packs and has a market share of 9-10% in the Rs 2,000-crore fruit beverages component.

The Tobaccos-to-hotels major's food division is already present in India selling fruits-based beverages for the past four-five years. ITC also offers dairy-based beverages which it soft-launched in the South in December 2018.

Also Read:ITC, Patanjali under lens for not passing on GST rate cuts to consumers

With the launch of Sunfeast Wonderz Milk last December, the company entered the ready-to-drink dairy beverages market. The milkshake market in India is around 1,000 crore.

"We would be extending our dairy beverage business and will be launching across the country by the next summer. We expect to clock 5-10% of the Rs 1,000-crore market in the first year of operations," Sanjay Singal, Chief operating officer for dairy and beverages unit at ITC told PTI.

Also Read:ITC to launch milk-based beverages to take on Coca-Cola, Britannia

ITC is also planning to export its dry fruits-based dairy beverages badam milkshake to Dubai and Saudi Arabia. It had also unveiled its Aashirvaad brand in Kolkata and Bihar. The company offers packaged milk and curds under this brand.

Meanwhile, Singal told the news agency that ITC would focus concentrate only in the Eastern markets for its packaged milk business in the foreseeable future as there is less competition in these markets.

He also said that the company will launch vegetable juices within a month and is also assessing possibilities in the water segment.

Also Read:ITC beats estimates, posts net profit of Rs 3,209.07 crore for Q3

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close