French nutrition and dairy major Danone plans to double its business in India by 2020 for which it will bring in more global brands here and has lined up ten new launches for this year.
According to a PTI report: The company, which launched its global flagship infant nutrition brand ‘Aptamil’ In India on Monday, is also looking to leverage on its Indian manufacturing operations to export to neighbouring countries such as Nepal, Bangladesh and Sri Lanka.
The company is currently present in nutrition and dairy segments in India. It started the nutrition business in 2012 with the acquisition of nutrition portfolio from Wockhardt Group.
“At present, out nutrition business is about 80 per cent of our overall business in India and the rest from the dairy segment. Going forward this proportion will continue. We plan to double our nutrition business between now and 2020 and so should our dairy business,” Managing Director, Danone India, Rodrigo Lima was quoted by PTI as saying.
While he did not share the financial details of its business in India, Lima said the focus for the company would be to enhance market share in existing categories and enter new segments.
“We are looking at launching 10 products this year, which would include two products that we will be imported from our global portfolio,” he said.
Neocate, which is prescribed for nutritional management of infants with cow’s milk allergy and other indications where an elemental diet is recommended, is among the global brand that will be launched by the middle of this year.
The other items that will hit the Indian market this year from Danone stable will include a malt-based drink and a range of products for children with in-born errors of metabolism (IEM).
Bullish on the Indian market, he was quoted by PTI as saying: “We are very optimistic about Indian market, We have been present here since 2010…We have been growing at approximately 20 per cent CAGR over this period. We forecast to grow at this rate or even faster.”
Globally, out of Danone’s 22.4 million euro turnover 50 per cent comes from emerging markets.
He said India and China are the fastest growing markets for Danone in Asia.
When asked about investments planned for India to meets its future target, he said it would be only for annually requirement on plant and machineries without sharing a figure.