Nitta Gelatin India Ltd to foray in southern states
-- CollagenPep is a natural safe Gelatin derivative and is used as a functional food supplement for improving joint health and the condition of the cartilage.
According to Mr. G. Suseelan, Managing Director, "CollagenPep, has received positive response from consumers in Kerala, and we had to scale up production to meet the actual demand. The sale of the product exceeded the initial estimates by more than 30%."
Out of about 75 lakh osteo-arthritis patients in India, he said the company has targeted a market share of 10 per cent to be using the producton a regular basis. The market is expected to grow by five per cent on year on year basis. Based on the positive feedback from consumers, the company is expecting to achieve a turnover close to Rs 3 crore from the Kerala market alone in the current fiscal. We are confident that we will
get the similar if not better response from the other Southern States.
NGIL would soon introduce more products in the functional foods category for improving the bone strength mainly addressing women above 40. The product development process is in the final stages and clinical trials will commence by October 2010. The new product is expected to be launched in April 2011.
NGIL is targeting a revenue of Rs. 20 crore from CollagenPep from the southern market and Rs. 50 crore from all India operations by 2012. The company has strengthened its marketing activity and set a sales target of Rs 500 crore by 2014-15. It would set aside Rs 185 crores to meet this target, mainly through diversifying the product portfolio and capacity expansion.
The company is also working on a number of products including for wound care and nutritional supplements for sports persons, dancers and other active persons under the GELIXER umbrella brand. NGIL has plants atKoratty in Trichur Dist & Kakkanad near Kochi in Kerala and near Nagpur in Maharashtra. The fourth plant in Gujarat is nearing completion and will be operational by April 2011. The initial investment at the Gujarat plant is Rs.30 crores.