Currently the company markets sports nutrition, Herbal formulations including confectionery and Pharma OTC. The company intends to increase its presence in India by promoting Natrol brands in addition to the existing Prolab and MRI brands. The company is also evaluating strong presence in India in the lifestyle space which will neatly compliment the Natrol range of products.
The sports nutrition segment comprises the popular umbrella brand ‘Coach’s Formula’, which is a niche product targeted at sportsmen and fitness and health enthusiasts.
Plethico has launched its internationally successful brand Travisil in India in the form of cough syrup and lozenges. The company currently markets the same using the push strategy. But in the near future intends to begin with pull strategy.
This segment was launched with the rationale of creating a mass distribution network prior to the launch of its star brand Travisil. When Travisil was launched, Plethico’s confectionary products not only acted as a product basket expander but also a value added offering:
- Byte: in the hard boiled candy segment available in various flavours
- Actifresh: in the mouth freshner candy segment available in a variety of flavours
- Khalo G: in the digestive candy product segment also available in various flavours
Plethico has launched its internationally successful brand Travisil in India, in this segment, in the form of cough syrup and lozenges. During 2006-07, the company launched Dr. relief range of products and Coolz range of effervescent products. In 2008 Therasil was launched.
A strong and dedicated field force and high brand equity at the retail level, Plethico has, in a short span of time established a large, robust distribution network strong across India.
Contract Manufacturing services has been a conscious part of our strategic business development and revenue stream. Our expertise in this area emanates from manufacturing excellence and pharmaceutical heritage spanning more than 40 years of perfecting the science and art of applied processes, from the pilot scale to the commercial scale.
Brief overview of Indian nutraceuticals industry
The Indian nutraceutical market is amongst the fastest growing regions in the Asia Pacific. The industry portrays high growth rates with the vitamins segment contributing the largest and depicting the largest growth rate of about 8%. Haematinics and minerals also account for a significant share of the total market. Nutraceuticals is attracting significant attention and interest from larger pharmaceutical players although ambiguity exists about whether the sector should be considered as part of the healthcare or pharmaceutical industry. The sector however, is faced with lack of regulatory guidelines and legislation, which impedes desired growth. Additionally, there also exists a need to create awareness of the segment and products available, amongst target consumers and members of the medical profession.
Fastest growth in developing regions
The Asia-Pacific region is anticipated to witness fastest growth in the global nutraceuticals market till 2015. The region is expected to register a likely growth of about 6.6% during 2000-2010 period of analysis, to garner revenues of US$.16.2 billion by 2010 from US$13.1 billion in 2007, being buoyed by the strong Chinese and high-potential Indian nutraceutical market, and the economic prosperity of the region. Factors instrumental in driving the market include greater health awareness, growing consumer interest in nutritional diets and change in lifestyle, rising aging population and preference of medications with no or minimal side effects.
The United States, Japan and key European countries are likely to remain the largest global producers and consumers of nutraceuticals owing to high levels of disposable income, greater awareness and greater preference for specialty nutritional and herbal products, thereby encouraging preventive medicine and innocuous self-treatment.