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Posted on Dec 08, 01:02PM | UNI
Ice cream and frozen processed foods major, Vadilal Industries Limited has entered the Rs 400 crore Indian flavoured milk market with its new 'Power Sip' under the Vadilal Quick Treat umbrella brand.
Addressing a news conference here, Rajesh Gandhi, MD, Vadilal Industries, said the new initiative is part of the company's long term strategy to offer a wider range of frozen food products to consumers and its first major product launch in the beverages market.
The potential for growth in the Indian flavoured milk is very good with an estimated annual growth rate of 15-20 per cent.
Vadilal will utilise its strong ice cream retail distribution network to make this new product a popular brand across India over the next few years.
He said the market size of flavoured milk in Gujarat is Rs 40 crore and the company targets to capture at least 5 per cent of market share in first three years time. 'Our target is to capture 5-7pc market share over the next three years and make Power Sip a Rs 30 crore plus brand.
"This is our first major launch in the non-ice cream dairy sector and we plan to introduce more products in this space in future,' he said.