Parag Milk Foods expands with new product range
With this, the company has entered into the $1bn Indian sweets category.
The company has a history of innovation, especially in its cheese category, which has enabled it to strengthen its value added products (VAP) category that made up two-thirds of its overall revenue in FY18.
Parag Milk Foods said the entry into the ready-to-eat Indian desserts category signals plans to further strengthen its VAP category.
Devendra Shah, chairman, Parag Milk Foods Ltd. said, “The market for the Indian sweets category is extremely large. In this category, Gulab Jamun and Rasgulla are the two most popular Indian desserts, with nearly every store in the country serving some version of them.
“We have introduced these two products on a small scale, which we will gradually scale up across India. Although, we have started by introducing the regular range in Indian sweets that consists of Gulab Jamun and Rasgulla, we plan to introduce Mysore Pak, Shahi Gulab Jamun, etc in the future.”
Gowardhan Gulab Jamun and Gowardhan Rasgulla are currently available in 1kg pack sizes for Rs.190 ($2,71).
Recent launches
The product has been launched across India, with the main markets for Gulab Jamun being West, North and South India, while Rasgulla is more popular in North and East India.
Parag Milk Foods, established in 1992, is the largest private dairy FMCG company with a pan-India presence with manufacturing facilities in Manchar in Maharashtra, Palamaner in Andhra Pradesh and Sonipat in Haryana.
Through the Gowardhan brand the company sells traditional products including ghee, dahi and paneer, with products such cheese, UHT milk, buttermilk, lassi and yoghurt sold under the Go brand.
The company also forayed into dairy-based beverages with the launch of Topp Up and Slurp - a mango drink with a dash of milk.
Recently the company also entered the B2C segment for whey protein with the brand Avvatar.
