Tata Chemicals Limited, which is set to launch the Rs 50-crore nutraceuticals manufacturing facility shortly, plans to introduce retail products in this category in future.
“Initially, we will market in bulk and retail products are on the cards for future,” a top company official told PTI.
FMCG, agri and nutraceuticals will be the major thrust segments for the world’s second largest soda ash maker.
The plant initially will have a capacity of 300 tonnes annually and would scale up to 1,000 tonnes.
Nutraceuticals is estimated to become $4 billion market in India by 2018. The company was focusing at making oligosaccharides, sweeteners, anti-obesity products through green routes.
The company had recently said FMCG, agri and nutraceuticals would expand from 22 per cent to 50 per cent of the topline that will nearly double to Rs 30,000 crore over the next four to five years.
Tata Chemicals will commission a pilot plant to make nutraceuticals in Chennai as part of focus on speciality and consumer products businesses.
After branded salt, pulses (dal) under iSakthi brand, the company entered masalas in Punjab recently.
The company official did not ruled out possibility of entering the estimated Rs 700 crore ready-to-eat and ready-to-cook food segment in future.
The major players operating in India’s ready-to-eat food market include ITC, Kohinoor, MTR and McCain.
According to forecast the Indian RTE food market is projected to grow at a CAGR of 22 per cent during 2014-19.