Fast-moving consumer goods firm Global Consumer Products today said it aims to capture 10 per cent market share in the Rs 4,500 crore household insecticide category in the next three years.
"We are looking at a 10 per cent market share in the total category in the next three years," Global Consumer Products Chairman and Managing Director A Mahendran told reporters here.
The Rs 4,500-crore household insecticide market is estimated to be growing at 10-15 per cent, with the rural market constituting 15 per cent of the total pie.
After rolling out its mosquito repellent brand DND targeted at the top of the pyramid, the company today launched mosquito repellents for the base of the pyramid and claimed the new product is priced at half the cost at which its competitors offer their products in the market.
"When we entered last year with DND, we were addressing the top of the pyramid. Now we are looking at the base of the pyramid. We are addressing the base of the pyramid which is a fairly large population in India. We will address the top and the base of the pyramid," he said.
He added that the company is planning to introduce more mosquito repellent products in the affordable space.
Mosquito repellents account for 80 per cent of the household insecticide market.
The consumer goods start-up is also planning to launch products for household pests like ants, cockroaches, bed bugs, houseflies.
The company, which is also present in chocolates and confectionery and beverages, is targeting a market share of 5 per cent in each category in the next three years.
The juice market is estimated to be Rs 10,000 crore at present, while the chocolate industry is estimated to be Rs 7,500 crore.
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