Danone To Double Size Of India Business By 2020
Dairy giant Danone is seeking to double the size of its India unit through the introduction of more of its brands by 2020, with ten product launches scheduled for 2017, DeccanChronicle.com has reported.
India and China are the company’s quickest-growing Asian markets, and the firm now accumulates 50% of its turnover from its emerging markets.
Among the global brands set to become available in India are Neocate, a nutritional product for infants with cow-milk allergies. This will be complemented by the introduction of SKUs for children with metabolic problems, and a malt-based drink SKU
Danone India’s managing director, Rodrigo Lima, told the Press Trust of India, "At present, out nutrition business is about 80% 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."
“We are very optimistic about Indian market,” Lima added. “We have been present here since 2010. [...] We have been growing at approximately 20% CAGR over this period. We forecast to grow at this rate or even faster."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.