Diversified conglomerate ITC Ltd is looking to expand its portfolio in dairy segment and plans to launch paneer and milk beverages in the next couple of months, an official said here on Tuesday.
The company on Tuesday launched its pouch milk under the brand ‘Aashirvaad Svasti’ and curd under ‘Aashirvaad Svasti Dahi’ in the city.
“We have launched ghee, milk and getting into curd. We will be launching paneer as well. We are also entering into the markets of milk beverages in the next couple of months,” company’s Divisional Chief Executive (Foods) Hemant Malik said here.
He said the company will be launching paneer in Kolkata, while the launches of value-added dairy beverages will be pan-India.
He said the diversified conglomerate is also looking to start procuring milk from West Bengal.
“Our team is already on the ground and looking at how we will be procuring milk from the state (West Bengal). The challenge that we are facing is quality of sourcing. In a month’s time, we will start sourcing milk from the districts (of West Bengal),” Malik said, adding that it is currently procuring milk in and around Bihar’s Munger.
Notably, the FMCG major forayed into the pouch milk category earlier this year in Bihar.
“In a couple of years time, maybe we are looking at Rs 400-500 crore in terms of consumer spends (from the dairy business),” he said.
He said the market for pouch milk for organised players is estimated at Rs 72,000 crore in India and it is growing at 15 per cent annually.
According to him, the company’s focus for now will be on markets Bihar and Bengal for pouch milk segment.
The curd market is estimated about Rs 4,500 crore and growing at 30 percent annually, Malik added.