The dairy market has witnessed a growth of 20-23 percent annually and is expected to grow three times by 2020. Prabhat Dairy has ventured into the beverages segment to tap the high potential of the market. The company will start off by selling tetra packs of lassi, chaas, and milkshakes. The company plans to expand the beverages market in two phases. In Phase 1, it will launch these beverages in Maharashtra. In the second phase, it will distribute these products in other metros and smart cities. Prabhat Dairy is an integrated milk and dairy products company, catering to retail and institutional customers.
It manufactures dairy products and also sells co-manufactured products to a slew of institutional and multinational companies. “We keep on researching and churning out new products which help us in growing our presence in the marketplace,” Vivek Nirmal, Joint Managing Director & Chief Executive Officer said at an event in Mumbai to announce the launch of beverages. The dairy market has witnessed a growth of 20-23 percent annually and is expected to grow three times by 2020, according to Nirmal. He further said due to the high demand for healthy drinks, milk beverages have become popular among customers, witnessing a growth of almost 54 percent on year.
New chain of outlets
The company also launched Goodness Zone, a franchise based chain of retail outlets in Maharashtra. Prabhat Dairy aims to open 500 such outlets by the fiscal year 2022. It has already piloted the Goodness Zone in Ahmednagar district. “Our retail chains would be catering as a counter sale and local distribution point for Prabhat’s milk and milk-based products. It would provide us access to newer markets.” Nirmal said. The Goodness Zone will sell milk-based products such as packaged and toned milk, ghee, cheese, chaas, lassi, dahi, shrikhand, paneer, milkshakes, etc. under its umbrella brand ‘Prabhat’. The company is currently focusing on expanding its product portfolio in the consumer segment and is aiming to expand its presence across major cities in India. Recently, Prabhat Dairy announced its quarterly results. The company’s consolidated net profit rose 84.6 percent on year to Rs 17.59 crore in the quarter ended March driven by cheese, milk, curd, and paneer.
Source : moneycontrol
Published on: May 23, 2018