Danone India aims to introduce about 10 products in 2017 as part of a plan to double revenue by 2020.
Indo-French Business Relations | | Livemint.com
New Delhi: Danone India Pvt. Ltd, the local unit of the world’s largest yogurt maker, has introduced its brand of Greek yogurt, its third product launch in as many months, as it seeks to expand its range of products and market share in India.
The French firm, which had kept its products offering limited since it entered India in 2010, launched infant formula brand Aptamil in January and malt-based health drink Protinex Grow in February.
The firm aims to introduce about 10 products in 2017 as part of a plan to double revenue by 2020. “We will leverage our global expertise in yogurts to build the category in India and establish the relevance for the category through the right product innovation. The dairy division is poised for a healthy growth with new product offerings,” Rodrigo Lima, managing director of Danone India, said.
Danone’s Greek yogurt, priced at Rs35 for an 80-gram cup, will be available in India in blueberry and mango flavours, it said.
Greek yogurt is a new category in India and there are limited products available. Last April, Nestle India Ltd, the local unit of the Swiss packaged food firm, launched a range of Greek yogurt called Nestle a+ Grekyo priced at Rs30 for 100 grams.
The yogurt market in India was estimated at $931 million in 2014, expanding at a compound annual growth of 34.5% a year during 2009-14.
Dairy, however, will not be the key focus for Danone in India. Lima, in an interview on 16 January, said the company will be concentrating on its nutrition business.
Besides expanding offering in existing infant foods business, the maker of Farex baby food and Protinex supplements will tap the medical nutrition business by June and is looking at launching packaged drinking water from its global portfolio in India.
For France-based Danone SA, water is the third largest business and accounted for €4.7 billion in revenue in 2015. Dairy is the largest business for Danone globally, delivering €11 billion revenue in 2015; it accounted for just about 20% of its India revenue.
In India, Danone sells its products across 200,000 retail outlets in 20 cities, but its flagship yogurt is available only in six cities. Danone India’s dairy portfolio consists largely of flavoured yogurt, lassi and mishti doi—which the company claims to have developed in India.