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Fonterra Future, the joint venture between the New Zealand-based dairy nutrition company Fonterra and the Future Group, targets a turnover of ₹5,000-6,000 crore and market share of five per cent in value-added dairy product space in seven years.
The company launched its first range of products — Dahi, UHT (ultra-high temperature) toned milk, strawberry and chocolate milkshakes — under consumer brand, Dreamery. It is banking on the growing urbanisation, consumer affluence and higher disposable income to drive sales of its milk-based drinks.
The products have hit the shelves in Mumbai, Pune, Bengaluru, and Ahmedabad. It will go to Hyderabad, Surat and pan-India in the next two years. The company has tied up with Baramati-based contract manufacturer Schreiber Dynamix Dairies for processing its dairy products.
Sunil Sethi, Chairman, Fonterra Future Dairy said the entry into the Indian market would unveil Dairy 2.0 with the combination of Fonterra’s global dairy innovation, manufacturing and nutrition expertise and Future Consumer’s leadership in retail and distribution.
Ishmeet Singh, CEO, Fonterra Future Dairy said its product offering will evolve to deliver superior quality, taste and nutrition across the Dreamery product range.
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