London Dairy targeting INR 1 Billion revenue from India by 2020
India: Rising
mercury levels is hardly a welcome change for anyone, except for ice cream
manufacturers in the country. The Premium ice cream brand London Dairy which is
a subsidiary of IFFCO a United Arab Emirates based business house, which
manufactures and markets a well-integrated range of food products all over the
globe has planned to ramp up its distribution network in India as well and is
targeting a revenue of INR1 billion in the Indian dairy market. The brand was
introduced in India three years ago and is planning to grow roughly 36 per cent
year on year and double its revenues from about INR 40 crore in the next three
years.
The London Dairy
products are manufactured under licence from the London Dairy Company, based
out of The United Kingdom and imported into India from UAE-based International
Foodstuffs Company. The brand currently boasts 2,000 outlets across the
country
and plans to open 5,000 retail outlets
by 2020 in India.
According to TechSci Research, organized dairy
products market in the country is witnessing growth, on account of rising
demand for value added dairy products, due to their low fat and low cholesterol
content. India is witnessing entry of large number of international players,
offering a variety of non-conventional dairy products such as Ice Creams,
yogurts and probiotic drinks.
According
to “India Dairy Products Market By Type, Competition Forecast and Opportunities, 2011
– 2021”, the market for dairy products in India is projected
to grow at a CAGR of over 7% during 2016 - 2021. In 2015, North India dominated
the country’s dairy products market, on account of increasing per capita
expenditure, rising youth population, introduction of value added dairy
products, changing consumption patterns, and growing penetration of
international players. India dairy products market is witnessing a shift
towards healthier products such as probiotic drinks, yogurts, etc. Few of the
leading players operating in India dairy products market include Gujarat
Cooperative Milk Marketing Federation Ltd., National Dairy Development Board,
Karnataka Cooperative Milk Producers Federation Ltd., and Tamil Nadu
Co-operative Milk Producers' Federation Limited, among others.