- April 12, 2018 / 3 min readITC has around 7 per cent share in the juices and fruit beverages market which is estimated to be around Rs 2 500 crore
FMCG major ITC is expecting 10 to 12 per cent market share in the packed juices and fruit beverages segment by next year as the company bets on its not from concentrate' range of juices, said a top company official.
ITC would continue to add more flavours in B Natural's portfolio and plans to add 4-5 new variants in next few months. Besides, the Kolkata-headquartered company is also looking to tap the export market.
"We believe that we should get a double-digit market share of the juices by next year," said Hemant Malik, ITC Divisional Chief Executive, Foods Division.
ITC has around 7 per cent share in the juices and fruit beverages market, which is estimated to be around Rs 2,500 crore. The market is growing 13 to 14 per cent annually and is dominated by players like Pepsico's Tropicana and Dabur's Real, the company said.
"This will lead to sourcing of over 2.5 lakh tonnes of fresh fruits directly from Indian farmers annually instead of importing concentrates," said Malik.
He further added, “Globally, the trend is moving towards not-from-concentrate based juices, and in markets as the US, it is sold at 30 per cent premium. We have 13 products and now our entire range would be made not from concentrate and fruits sourced from the domestic market.”
It is also strengthening the distribution network of B Natural and would focus on small tier III markets, which have also started consuming packed juices, besides tier I & II places.
"We are using our distribution strength to expand availability across both rural and urban markets," he said.
Besides ITC has also started exporting B Natural to Middle East targeting the Indian diaspora and is looking at markets as US, Canada, Australia and New Zealand.
The company has also come on the heel for branding and promotions of their business.
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