After a stint in the sauces and mayonnaise market, FMCG brand Veeba has now forayed in kid nutrition segment with the launch of V-Nourish, the company said in a statement. Pegging the child nutrition beverage market at Rs 7,000 crore, the company also said that the growth trend for the premium nutrition market is witnessed to increase 12% on a year-on-year basis. Veeba has a target market of 5-year-old and above kids. Currently, Abbott Nutrition’s Pediasure, Zydus Wellness’ Complan, SmithKline Beecham’s Horlicks, and Cadbury’s Bournvita are the leading players in the category.
Veeba has roped in Bollywood Star Shahrukh Khan as the face of the product campaign. “When I met Viraj for the association, the fact that he has designed the product for his own children struck an immediate chord with the parent in me,” Shahrukh Khan said on V-Nourish. Veeba has launched the product in four flavours — Choco-Cookie, Strawberry, Badam and Kesar Pista, Veeba said in a statement. Speaking about the product, it also said that the product is free of artificial flavours, synthetic colours and added preservatives. The company has started the production in Keshwana, Rajasthan facility and has launched the product in top 100 cities across India.
Also Read: Amway expands into kids nutrition, eyes Rs 401 crore market
Recently, Amway’s India subsidiary had also announced its foray in kids nutrition portfolio with the launch of Nutrilite DHA Yummies. The company had said the industry is in its nascent stage with the expected market in India to be around Rs 401 crore. “The market is promising as it has shown healthy growth potential with a CAGR of 12% in the last 5 years,” Amway’s Chief Marketing Officer Sundip Shah had earlier said.
The maker of sauces, mayonnaise and dips — Veeba — currently rival Dr Oaetker, Cremica, American Garden and Fun Foods. It sells products in both B2B and B2C markets.