Whey Finance

Tata Consumer enters the nutraceutical segment

By Kritika Arora

Entering the health supplement segment, Tata Consumer Products has launched Tata GoFit, which is a plant-based protein powder targeted at women in their quest to get fit.

With 18 grams of protein per 25 gram serving, Tata GoFitis is available in two pack sizes of 500g and 1kg priced between Rs 1,599 and Rs 3,099.

Commenting on the launch, Deepika Bhan, President – Packaged Foods (India), Tata Consumer Products, told FE that the global nutraceutical market is rapidly moving towards the fast-moving consumer goods category, and Tata Consumer is focusing on a more small part of it, i.e. the protein part which in itself is a market of Rs 3,000 crore, and within this vegetable protein is around Rs 500 crore of market.

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While not giving the category’s volume expectations for next year or so, Bhan, however, said the segment is expected to surge in the coming years and the company expects a compound annual growth rate. 15-20% in the category given the growth seen in the health and wellness segment.

“We are excited about the medium-term volume potential,” she said.

Commenting on the other products Tata Consumer would launch in the segment over the next couple of years, Bhan said that after launching plant protein powder first, the company would first focus on learning and growing this. segment and, over time, would consider other innovations.

Tata Consumer believes that for now the right path for growth in this category is organic, but they would not hesitate to assess any opportunities that arise.

Many mainstream companies like Marico and Parag Milk Foods also have their own products in the growing nutraceutical segment, for example, Marico has meal replacement drinks and Parag Milk Foods sells a line of whey protein, but Bhan said that with plant protein powder – GoFit, Tata Consumer offers a differentiated product focusing on women’s health.

“We have a differentiated entry point, our inspiration came from protein powders which are not particularly geared towards women’s fitness needs. Quite often they play with high performance cues. So our selling point unique is that we focus on the #1 community brand for women, and its extreme fitness. It’s about women across the spectrum of their fitness journey,” Bhan said.

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The Tata GoFit product is currently available on e-commerce sites and the company’s direct sales website, but Bhan said the company will move to omnichannel for the product in due course.

“Right now the category is operating significantly online, so we’ve made sure our first marketplace is online. better retail distribution,” Bhan said.