In a span of three months, owners of two big health food drinks — Horlicks and Complan — have said they are looking to exit the category. Coming at a time when the broader consumer goods industry in the country has settled down after disruptions such as demonetisation and a new tax regime, statements by GlaxoSmithKline (GSK) and Kraft-Heinz, owners of Horlicks and Complan, have surprised many.
Horlicks is the leader in malt-based drinks, valued at Rs 78.70 billion in India, according to Euromonitor International. Horlicks’ estimated market share is 44-45 per cent, according to industry officials.
Complan, meanwhile, sits in an adjacent category called supplement nutrition drinks, valued at Rs 17 billion, says Euromonitor. While Complan’s market share was