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India's ITC is Planning to Launch Milk-Based Beverages

ITC is set to launch ready-to-drink milk-based beverages to take on popular rivals Coca-Cola, Amul and Britannia in the Indian Market

India: Kolkata-based multi-business corporation, ITC is all set to launch its new ready-to-drink milk-based beverages to beat the popular rivals Coca-Cola, Amul and Britannia. The new product range will be called Sunfeast Wonderz and will be initially launched in the southern states of Karnataka, Telangana, Andhra Pradesh and Tamil Nadu before going national.

This innovation will be controlled by the organization's institutional capacities including Agri-sourcing, distribution, framework, among others. The ready to drink milk beverages market has seen high development in the recent past with a change in perspective to more healthier drinks and the company said that they believe in innovative offerings in this segment could have incredible potential for future.

ITC’s plan to enlarge in dairy products is part of its strategy to expand its foot prints in packaged foods by 2030 from non-cigarette packaged goods. This dairy product range will be manufactured in ITC's new aseptic pet facility in Kapurthala, Punjab.

The Kapurthala unit is one of ITC’s 20 integrated factories for consumer-packaged goods with logistics facilities. The company has lined up an investment of Rs25,000 crore in 65 projects. According to the company, the Kapurthala factory will straight employ around 2,000 people once fully operational.

Moreover, the Kapurthala factory has a logistical advantage of Punjab’s dairy supply chain, Swiss packaged food company Nestle India Ltd, one of the top contenders in the dairy market, also has a milk plant in the state.

According to TechSci Research, the launch of Milk-Based Beverages by ITC is with a purpose that aims of making expanding its product range and take on popular rivals Coca-Cola, Amul and Britannia. The expansion will help the company to diversify its product offering as well as have a positive impact on the dairy products Market in India. India is the largest producer of milk and dairy products in the world. The country has experienced tremendous improvement in per capita availability of milk over the last five years. Organized dairy products market in the country is witnessing growth, because of rising demand for functional dairy products, due to their low fat and cholesterol content. However, unorganized sector, which comprises small farmers, accounts for a majority share in the country’s dairy products market. Domestic players are also increasing their focus on offering products for health-conscious consumers and introducing packaging innovations to strengthen their market position. The expansion is likely to have a positive impact on India Dairy Testing Market and India Organic Food & Beverages Market as well.

According to the recently published report by TechSci Research, “India Dairy Products Market By Type (Drinking Milk, Ghee, Butter, Ice Cream, Milk Powder, Cheese, Yogurts, Probiotic Drinks and Others), 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

According to the recently published report by TechSci Research, India Dairy Testing Market, By Type (Safety and Quality), By Technology (Traditional Technology and Rapid Technology), By Product (Milk & Milk Powder, Cheese, Butter & Spreads, etc.), By Company, Competition Forecast & Opportunities, 2013 – 2023”, India Dairy Testing Market is projected to grow at a strong CAGR over the next five years. The major factors contributing in the growth of the market are growing technological advancements in testing industry, upsurge in outbreaks of foodborne diseases and growing demand for healthy products. Based on technology, the market is segmented into traditional and rapid technology. In 2017, the rapid technology segment dominated the Dairy Testing market and is expected to maintain its dominance over the next five years as well due to higher accuracy, low turnaround time and ability to test a wide range of pollutants as compare to traditional technology.

According to the recently published report by TechSci Research, India Dairy Enzymes Market, By Type (Lactase, Chymosin, Microbial Rennet, Lipase and Others), By Application (Milk, Cheese, Ice-Cream & Desserts, Yogurt, Whey, Infant Formula and Others), By Source (Plant and Animal & Microorganisms), By Company and By Geography, Forecast & Opportunities, 2023”, India Dairy Enzymes Market is expected to grow at a high CAGR by 2023, owing to the rising usage of enzymes in dairy products to improve the taste and texture. Moreover, the increasing utilization of microbial rennet over animal rennet to produce cheese and growing popularity of processed dairy products like cheese and yogurt is expected to drive the growth of market in the forecast period. Based on type of enzyme, the microbial rennet segment is expected to hold the largest market share in the forecast period as the enzyme produced by the microorganisms is considered vegetarian and is cheaper than animal rennet. Based on the application, the cheese segment is estimated to dominate the market by 2023 due to wide use of dairy enzymes like chymosin, catalase, lactase for cheese production.

According to the recently published report by TechSci Research, India Organic Food Market By Product Type (Organic Beverages, Organic Cereal & Food Grains, Organic Meat, Poultry & Dairy, Organic Spices & Pulses, Organic Processed Food & Others), Competition Forecast & Opportunities, 2013 – 2023,” India organic food market is projected to grow at a CAGR of over 23% by 2023, on account of favorable government policies supporting organic farming coupled with rising land area under organic cultivation. Online availability of organic food products and shifting consumer preference towards organic food are among the major factors expected to boost demand for organic food products in India during the forecast period. Expanding marketing and distribution channels coupled with increasing number of health-conscious people is also anticipated to fuel organic food consumption in India until 2022