Food major Danone expects growth in its business in India
The market dynamics has changed during the Covid-19 pandemic but French food major Danone is all set to grow in the Indian market
Amid economic slowdown triggered by the COVID-19 pandemic, French food major,Danone has claimed that its business will grow in India in 2020.
The maker of Protinex and Dexolac is on the path to bring its business back to growth and in September it registered higher growth than it did last year, Danone India’s managing director, Himanshu Bakshi said
As per Business Standard, the company exited from the dairy space in 2018 and according to Bakshi, the company’s decision to exit from the dairy market had been backed by a renewed push for its nutrition portfolio.
The firm is now exporting Protinex to Thailand.
Danone had acquired a bunch of brands, including Protinex, Dexolac, and Farex, from Wockhardt in 2012 for Rs 2,600 crore.
In India, Danone competes directly with food and nutrition major Nestlé with some of its flagship brands like Actimel, Alpro, and Nutricia.
Danone is setting its healthy living messaging at the forefront of its product communications capitalizing on the growing health concerns among consumers due to the pandemic.
The recent disruptions, however, have altered the dynamics of the market.
According to Bakshi, the company's field personnel have managed to streamline distribution but the recovery in modern trade is some time away.