Parag Milk Foods unveils Go Milkshake eyeing about 15% of market share
Parag Milk Foods, the makers of India’s favourite dairy products like Gowardhan, Go, Pride of Cows and Avvatar, unveiled the expansion of their product portfolio with the launch of a range of milkshakes – Go Milkshake. It is made from 100% cow’s milk and is available in 180 ml Tetra Packs in strawberry, vanilla, chocolate and coffee flavours. It will have a long shelf life at ambient temperature. The thick and delicious milkshake is priced at Rs 30 and is available across all the distribution channels.
The new range of milkshakes is tastier and thicker than existing range of milkshakes in the market. It is the perfect drink for both for children and young adults to quench their thirst with a healthier option. According to a new report by EMR titled, ‘India Flavoured Milk Market Report and Forecast 2021-2026’, the market is expected to witness healthy growth in the forecast period, growing at a CAGR of 24% between 2021 and 2026. This unlocks a huge potential for the company to tap into the growing market. Maharashtra with a consumption share of 18.6% represented the biggest market in India in 2017. Maharashtra was followed by Tamil Nadu (15.5%), Uttar Pradesh (12.4%), Delhi (8.9%) and Gujarat (7.5%).
Commenting on the launch, Devendra Shah, chairman, Parag Milk Foods, said, “Parents are always looking for healthy food and beverage options for their children that are nutritious and at the same time delicious. The Go Milkshake range is developed keeping in mind the requirements of a modern family who can have a thick and tasty drink on the go, without the hassle of making a milkshake. The drink has optimum calorie content that appeals to children and adults alike. With this launch, we are aiming to capture 10-15% market share. With our unmatched quality of milk, we are confident of providing a unique taste experience to milkshake drinkers.”
PMFL has been the pioneer of various product formats with its core positioning around ‘cow’s milk’ and has already established a strong dominance in Cheese (with a near 35% market share), and Ghee. If a brand can crack shelf space against large coops at one end and multinationals on the other, it makes for an extremely interesting proposition. With a strong product portfolio catering to the ‘consumer of tomorrow’ (whey protein, branded paneer, curd), a robust supply chain, PMFL is perfectly positioned to become the most preferred private dairy player in the country.