ITC Foods plans to expand its dairy business through exports in the next few months, Sanjay Singal, COO – Dairy and Beverages, told Moneycontrol in an interview.
The company will begin by exporting its packaged badam milkshakes to Dubai and Saudi Arabia and gradually enter other global markets.
Speaking about market share, Singhal said the company aims to capture 5-10 percent of the packaged milkshake market in the first year of launching its dairy business pan-India. The size of the packaged milkshake segment is Rs 1,000 crore
ITC Dairy and Beverages was set up four years ago and currently has 9-10 percent market share in the beverages sector that is roughly worth Rs 2,000 crore.
Singal also spoke about plans to scale up the dairy business in India, where they have made an entry in Kolkata and Bihar selling milk and curd. The company is eyeing more geographies to grow further, he said.
Indicating a strong presence in the online space, Singhal said e-commerce is 2 percent of ITC Foods overall business and is growing at 100 percent.
