Parag Milk Foods (PMFL) on Thursday said that it is collaborating with Swedish research organisation ColoPlus AB to launch a colostrum-based nutrition product in India.
Under this collaboration, PMFL will manufacture colostrum-based health food product GO Colo Power by acquiring the patent rights for this technology from the Swedish company.
ColoPlus AB is a research and development company that develops colostrum-based therapeutic food.
PMFL said this move is in-line with its strategy to add value-added dairy products to its portfolio. Colostrum is the first, pre-milk fluid of the cow after the calf is born and considered to be a good source of many vitamins and minerals.
Devendra Shah, Chairman, Parag Milk Foods, said, “As a strategy, we have been looking at introducing products that can address the challenge of protein deficiency in India. The launch of GO Colo Power is in line with that strategy.”
He said that the company has set up a mechanism to source colostrum milk from farmers, which otherwise goes waste and will offer them higher returns. The product is being made at its Manchar plant in Maharashtra.
“We are launching the product first on the e-commerce channel. In the next few weeks, the product will be available across retail stores in the top eight metros and other key tier-2 cities,” he added.
The powdered-format GO Colo Power is available in 200 gms and is priced at ₹750 . The company will leverage on its distribution channel including modern-trade stores, chemists channel and e-commerce to sell this product.
“We believe the market for such specialised nutritional products is pegged at ₹ 3000 crore in the country and we aiming to capture 7-9 per cent market share in the next three years,” Shah added.
The dairy company has been focusing on adding high-margin value-added products such as whey-protein sports nutrition brand Avvataar to its portfolio, according to analysts.