Parag Milk Foods has expanded its whey protein range under the Avvatar brand, focusing on consumer product personalisation as part of its new marketing strategy, according to Akshali Shah, executive director of Parag Milk Foods.
Ambitious͏͏ Market͏͏ Share͏͏ Goals:
With͏͏ this͏͏ expansion͏͏ and͏͏ expectations͏͏ of͏͏ the͏͏ category͏͏ growing͏͏ at͏͏ a͏͏ CAGR͏͏ of͏͏ 30-35%,͏͏ the͏͏ company͏͏ aims͏͏ to͏͏ secure͏͏ a͏͏ 20-25%͏͏ market͏͏ share͏͏ by͏͏ 2027-28.͏͏ It͏͏ has͏͏ already͏͏ established͏͏ a͏͏ whey͏͏ protein͏͏ manufacturing͏͏ facility͏͏ in͏͏ Pune,͏͏ Maharashtra,͏͏ which͏͏ provides͏͏ a͏͏ competitive͏͏ edge͏͏ and͏͏ bolsters͏͏ its͏͏ market͏͏ position,͏͏ Shah͏͏ noted.
Continue͏͏ Exploring:͏͏ Parag Milk Foods’͏͏ Q1͏͏ FY25͏͏ net͏͏ profit͏͏ surges͏͏ 27%͏͏ to͏͏ INR͏͏ 27͏͏ Cr
Investment͏͏ in͏͏ Manufacturing͏͏ Capabilities:
The͏͏ company͏͏ has͏͏ invested͏͏ around͏͏ INR͏͏ 300͏͏ crore͏͏ to͏͏ establish͏͏ and͏͏ enhance͏͏ its͏͏ whey͏͏ protein͏͏ manufacturing͏͏ capabilities.
The͏͏ whey͏͏ protein͏͏ category͏͏ currently͏͏ accounts͏͏ for͏͏ 7%͏͏ of͏͏ Parag’s͏͏ overall͏͏ revenue͏͏ and͏͏ is͏͏ projected͏͏ to͏͏ rise͏͏ to͏͏ 15%͏͏ over͏͏ the͏͏ next͏͏ 3-4͏͏ years.͏͏ At͏͏ present,͏͏ approximately͏͏ one-third͏͏ of͏͏ the͏͏ company’s͏͏ whey͏͏ protein͏͏ sales͏͏ are͏͏ generated͏͏ through͏͏ e-commerce͏͏ platforms,͏͏ providing͏͏ nationwide͏͏ reach.
To͏͏ target͏͏ the͏͏ youth͏͏ and͏͏ gym-goers͏͏ while͏͏ capitalising͏͏ on͏͏ the͏͏ increasing͏͏ demand,͏͏ Parag͏͏ Milk͏͏ Foods͏͏ plans͏͏ to͏͏ distribute͏͏ its͏͏ products͏͏ through͏͏ modern͏͏ trade͏͏ outlets,͏͏ specialised͏͏ whey͏͏ protein͏͏ stores,͏͏ and͏͏ online͏͏ channels,͏͏ ensuring͏͏ omnichannel͏͏ accessibility.
This͏͏ ambitious͏͏ growth͏͏ target͏͏ is͏͏ supported͏͏ by͏͏ the͏͏ company’s͏͏ influencer-driven͏͏ marketing͏͏ campaigns͏͏ and͏͏ its͏͏ extensive͏͏ distribution͏͏ network,͏͏ featuring͏͏ over͏͏ 35͏͏ depots͏͏ and͏͏ a͏͏ solid͏͏ presence͏͏ in͏͏ both͏͏ traditional͏͏ and͏͏ digital͏͏ retail͏͏ channels.
According͏͏ to͏͏ the͏͏ company’s͏͏ Q1͏͏ FY25͏͏ regulatory͏͏ update,͏͏ Parag͏͏ Milk͏͏ Foods͏͏ has͏͏ a͏͏ network͏͏ of͏͏ approximately͏͏ 6,200͏͏ distributors͏͏ and͏͏ 682͏͏ super͏͏ stockists.͏͏ With͏͏ a͏͏ current͏͏ presence͏͏ in͏͏ 4.6͏͏ lakh͏͏ retail͏͏ touchpoints,͏͏ the͏͏ firm͏͏ aims͏͏ to͏͏ expand͏͏ its͏͏ reach͏͏ to͏͏ 13-15͏͏ lakh͏͏ touchpoints͏͏ by͏͏ 2027E.
