Pharmaceutical and personal care products maker Elder Health Care Ltd (EHCL) has entered into the growing male energy booster market. The company has tied up with herbal medicines maker Shree Maruti Herbals.
It also plans to introduce new products in the herbal energy booster segment within the next 12 - 24 months.
The herbal energy booster supplement market in India is pegged at Rs 150 crore and is growing at 15 per cent per annum.
Keeping in mind the growing demand coming from males of 25 years and above, Elder Health Care has begun marketing of Maruti Herbals’ flagship product ‘Stay On’. The company says it has already grabbed a 5 per cent market share in the category, with a presence in over 7 lakh outlets across the country.
Other brands in the segment are Dabur’s Shilajit and 30+, Baidyanath’s Vita Ex/ Vita Ex Gold, Zandu Vigorex, Zydus Musli Vital and Musli Power.
EHCL has also been aggressively increasing its OTC (Over-the-Counter) portfolio over the last few years in segments such as skin care, hair care, pain management, fairness, oral care, lip care and grooming segment.
“Our strong marketing and distribution network is encouraging us to launch brands at a rapid pace as the distribution and supply logistics are already in place. With the new product, we are able to add another partner to our establishment which has great potential,” said Anuj Saxena, Managing Director, EHCL.
EHCL is expecting to double the sales of ‘Stay On’ from the current Rs 15 crore to Rs 50 crore by 2014-15.