Better known for biscuits, bread and cakes, the Rs 3,142-crore-sales Britannia Industries is stepping into a larger health and wellness role, aiming for a 20 per cent growth. In this, its eyes are on the dairy segment where Nestle has been by far the leader. Its former partner, Groupe Danone of France, is also a player in the segment.
Britannia is mapping a strategy to grab a significant pie of the flavored and the value-added dairy category. The company test-marketed Actimind, its functional flavoured milk product, in Tamil Nadu and is satisfied with the results. It is also looking at launching new products and may consider acquiring companies in the segment.
“Actimind will soon be rolled out in other Southern states,” said Vinod Menon, Head - Dairy Business, Britannia. “This is a niche segment but expected to grow quickly. We will continue to invest in and grow the equity of the food and nutrition in the dairy segment.”
Menon refused to put a value to the investment planned.
According to industry estimates, the size of the flavoured and value-added dairy market is around Rs 250 crore.
Besides established players, a number of start-ups are also launching products in this category.
{{/usCountry}}Besides established players, a number of start-ups are also launching products in this category.
{{/usCountry}}A recent Tata Strategic Management Group estimates claim the market for health and wellness foods in India, which currently stands at Rs 10,050 crore, is set to post a compounded annual growth rate (CAGR) of 30-35 per cent for the next five years, to touch Rs 55,000 crore by 2015.