Paraj Milk Foods Ltd, well-known for its Gowardhan and Go brands of dairy products, has diversified into fruit juice drink segment with the launch of mango-based beverage under the brand Slurp. With the launch of Slurp, made from alphonso mango & milk, the company is aiming to expand its footprint in the beverage category. Initially, Slurp will be available across markets in Mumbai, Delhi, Kanpur and Chennai in 200 ml tetra pack at Rs 20.
“We are very excited to introduce our new brand Slurp in the fruit juice drink segment. This offering from Parag Milk Foods is based on the company’s mission of providing health and nutrition to the Indian consumers,” said Devendra Shah, chairman, Parag Milk Foods Ltd.
According to a Euromonitor report, the 100-percent juice drink market is growing at a CAGR of 25 percent in volume and 31 percent in value in the last five years. The report also stated that mango juice drink market comprises of 85 percent of this juice drink market.
Consumers are looking for alternatives to aerated drinks as they are increasingly becoming health conscious and are largely moving towards fruit based drinks.
“Fruit juices are fast growing category and mango flavour contributes the largest share. The launch of this new brand is a strategic push for expanding our portfolio of value-added products. Within our value added products portfolio, we have identified beverage category as a key growth driver,” informed Shah.
Mahesh Israni, chief marketing officer, Parag Milk Foods Ltd, said, “The Indian drink market is largely dominated by soft drink players without dairy industry involvement. With Slurp, we plan to enter the fruit juice drink market that is currently exponentially growing.”
Source : Business Standard
Published on: May 16, 2017