The launch of women horlicks would augment the companys leadership which already has about 75% market share of health drink market with brands such as Horlicks, Boost, Viva and Maltova. Horlicks is the top most brand with sales of Rs 1,300 crore annually in the country and owns over 50% market share.
With the launch, the company aims to extend the health drink into a complete family health drink brand with variants suiting every member of the family such as parents and kids, a company source told FE. The company had earlier launched Horlicks Lite variant aimed at adults. It was specifically introduced keeping in mind the problems that are largely prevalent among grown ups and claims to have zero cholesterol, zero added sugar.
Sedentary and stressful lifestyle, changing food habits is pushing the demand for wellness and nutrition products. Also rising costs of medication have engineered the shifting of lifestyle gears from the cure to prevention mode, associate director financial advisory services pharma and life sciences with PricewaterhouseCoopers Pvt Ltd Sujay Shetty said.
Drugs for acute diseases presently dominate the Indian pharmaceutical market, however, the increasing penetration of lifestyle-related diseases is expected to fuel the growth of drugs targeting chronic diseases, Shetty added.
Programme manager, chemicals, materials and food practice at Frost and Sullivan, Jayanta Roy said the health and wellness segment would continue to grow at healthy double digit with consumers increasingly getting dissatisfied with drug costs and are moving towards preventive therapies.