New Delhi, Apr 10 (PTI) Diversified ITC is expanding its juice portfolio with an aim to garner around 20 per cent market share in five years in the packaged fruit juice segment, currently estimated to be around Rs 2,500-crore.
Apart from adding new flavours and focusing on local fruits, the company is expanding its sales network to meet the target.
It has also roped in Bollywood actress Shilpa Shetty as brand ambassador for B Natural juices and beverages.
The Kolkata-based firm also plans to expand retail points of its luxury chocolate brand Fabelle and take it outside its hotel premises, where it is only available currently.
"We are going to add 2 to 3 per cent market share every year and in next five years. It should be around 18 to 20 per cent in the next five years," ITC Foods Division Divisional Chief Executive Hemant Malik told PTI.
ITC ventured into the juice segment two years back and has presently around 7 per cent market share.
Market research firm Nielsen has estimated the packed juice segment market to be around Rs 2,500 crore and is growing rapidly, he added.
In order to expand its juice product portfolio, he said ITC is focusing on local flavours and sell them under the same local name such as 'Kinnow' and 'Jamun Joy' under the B Natural brand.
"Today we have added pomegranate," Malik said.
Commenting on network expansion, he said as the category is very less penetrated the focus is to make it available to a wider range of consumers.
ITC is a late entrant in the packaged juice segment, which is largely dominated by PepsiCo's Tropicana and Real from homegrown FMCG major Dabur.
ITC had forayed into the premium packaged fruit drinks market in 2015 with the acquisition of the B Natural brand.
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI