Press Trust of India / New Delhi Apr 05, 2009, 16:49 IST
European firm Weider Germany plans to foray into the estimated Rs 2,000-crore Indian food supplement market this year with muscle and body building products and is scouting for distributors.
The Hamburg-based food supplement maker is eyeing a turnover of euro 1.4 million (about Rs 10 crore) in the first year of operation.
"Our current business model for the Indian market is based on creating a good distribution channel network. We are targeting all major cities across regions," Weider Germany Managing Director Sven Schade told PTI.
The company is expecting a turnover of around euro 1.4 million in the first year of operation in India, he added.
"The projected market size of the food supplements in India is about more than Rs 2,000 crore. We intend to introduce muscle building and body building supplements and also introduce a range of slimming products apart from protein and calcium based products for the old age people," Schade said.
He said the market for fitness products in India is growing at about 15 per cent as a majority of the population are youth who are conscious of wellness, fitness and nutrition.
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