Parag Milk Foods on Thursday said it had collaborated with Swedish firm ColoPlus AB for the technical know-how and patent of ‘colostrum’ for Asia, the Middle East and Africa to strengthen its health and nutrition portfolio.
The company also launched its first natural immunity booster called ‘GO Colo Power’ in the country.
“This collaboration and the launch of GO Colo Power in the country will enable us to strengthen our offerings in the health and nutrition segment,” Parag Milk Foods chairman Devendra Shah told PTI here.
The country’s health and immunity booster market is pegged at around Rs 3,000-3,500 crore and the company is planning to grab 7-9 per cent market share with the new product launch in the next three years, Shah said.
Colostrum is the first, pre-milk fluid, from cow after the calf was born, which is rich in bovine immunoglobulin.
The firm will first distribute it through e-commerce platform in eight metros and 40 tier II cities, and then will gradually extend it to brick and mortar stores, he said.
Shah said the company will focus on the domestic market for ‘GO Colo Power’ as there is a huge potential in the health and immunity booster segment and begin exports around the end of this financial year.
The firm has established an elaborate mechanism to collect colostrum milk from dairy farmers that Shah claimed not only provides an avenue to use the first milk which otherwise would have gone waste, but also gives them much higher returns.