French foods stalwart Danone on Thursday said that it has successfully purchased the wockhardt Group's food business that will make forays into India’s medical nutrition and baby foods market. This would beef up the competition in the Indian market, where currently Nestle holds a major share.
Newly formed Nutricia International, situated in Mumbai, has delegated Laurent Marcel, a Danone expert from its Indonesia and Russia operations, as overseeing chief of the infant food business, while Anver Moola has been named managing director of the medicinal nutritional market.
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With the brands such as Farex, Nusobee , Dexolac, and Protinex; Danone plans to introduce products from its international portfolio. At present, Dexolac and Farex have fair amount of national presence and share 7% of Indian baby food market. Nestle shares more than 90% of the overall Indian market.
In Marcel’s opinion, the baby food industry in India is growing with a rate of 15-17% from last few years. He stated India as an attractive market for baby food products.
“We see India as the fastest-growing infant nutrition market in the world. Danone will utilize its global expertise in R&D and innovation to further enhance the established brands and develop products to serve India’s rising nutrition needs. We will listen to the needs of doctors and consumers here,” Marcel said.
Wockhardt had consented to sell its food business to Danone for a price of €250 million ($355 million) precisely a year back (right on time August 2011). Danone had additionally consented to secure the organization's assembling operations in Punjab from Carol Info Service.
Definitely the baby food market is witnessing an upsurge in India. With the inroads of Danone, the market would further get a boost. Further, a report on bigmarketresearch.com, the baby food market is expected to grow exponentially across the globe with Asia Pacific region playing a significant role. Thus, India could