Late to the party: Nestle enters Rs 1,600 core yogurt market with Grekyo
Nestle announced the launch of a new brand of yogurt called 'Nestle a+ Grekyo' which will be available in Delhi NCR for Rs 30 for 100g pack.
Nestle India on Thursday announced the launch of a new brand of yogurt called 'Nestle a+ Grekyo'.
Arvind Bhandari, General Manager - Dairy, Nestle India said, "Globally the Greek Yogurt category came into prominence less than a decade back and in certain countries it has already captured a fair share of the entire yogurt market. In India, this category is still at a nascent stage but we are confident that Nestle will lead the global trend for the Indian consumers soon."
The company is targeting the Rs 1,600 crore yogurt market in India. This market is growing at 17% compound annual growth rate (CAGR), according to 'Indian Packaged Yogurt Market Outlook, 2018' report.
The report expects this market to grow at over 20% CAGR in the next three years.
Nestle a+ Grekyo will be available in several variants such as strawberry, mango, pineapple and orange, which will be tailored for Indian consumers, said the company in a BSE filing.
Nestle a+ Grekyo has been launched in Delhi NCR region at the price of Rs 30 for 100g and will be available in other major cities soon.
Nestle also has another yogurt brand called 'Nestle Real Fruit Yoghurts'.
Some of the competitors in this segment include Amul, Mother Dairy, Danone and Gowardhan.