.Akshali Shah, Exec Supervisor, Parag Milk FoodsNew Delhi: Parag Dairy Foods has expanded its own whey protein product line under the Avvatar brand name, with a concentrate on personalization of the products for the customers as part of its own brand new marketing tactic, Akshali Shah, executive director at Parag Dairy Foods claimed in a talk with ETRetail.With this growth and expectations of the category increasing at a 30-35 per-cent CAGR, it intends to achieve a 20-25 percent market share in this type through 2027-28. The company has actually presently established its own whey healthy protein production facility in Pune, Maharashtra which gives it an one-upmanship and enhances its market opening, Shah shared.The provider has invested about Rs 300 crore in putting together as well as growing its own whey protein manufacturing capability.The whey protein classification, which currently contributes 7 per-cent to Parag's general profits, is actually assumed to contribute 15 percent in the next 3-4 years. Presently, concerning one-third of the company's whey protein purchases stem from shopping platforms, providing it an all over the country reach.To satisfy the young people as well as gym-goers and also more take advantage of the developing demand, Parag Dairy Foods plans to distribute its products with modern trade outlets, specialized whey healthy protein stores, and online channels, ensuring omnichannel availability.This assertive growth target is also supported due to the firm's influencer-driven advertising and marketing initiatives as well as its own strong distribution network, which includes over 35 depots and also a powerful existence in both traditional and also electronic retail.As every the business's Q1 FY25 regulative update, the firm has a network of ~ 6200 distributors and 682 tremendously stockists. It also possesses an existence in 4.6 lakh retail contact aspects as well as targets to connect with 13-15 lakh touch points through 2027E.
Released On Sep 30, 2024 at 09:52 AM IST.
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