Assam might soon have a manufacturing unit of Keventer, a renowned name in Food & Beverage industry.
Chairman & Managing Director of Keventer, Mayank Jalan said this on Thursday while adding that the company is exploring the possibility of setting up manufacturing unit in Assam.
He said that he company is initiating talks with the Assam Government.
While the company has 12 units in India, the Rs 150-crore Barasat unit of Keventer has a capacity of processing around two lakh litres of milk a day. The company products include ice cream, UHT (Ultra High Temperature) milk, frozen products etc. The company has recent launched UHT Milk in Northeast India is eyeing 25 per cent market share by 2020.
“The market has a huge potential to grow as UHT Milk only accounts for 2.3 per cent of India’s organized sector whereas in countries like China, it contributes more than 60 percent of the total milk consumption. Hence, after pouch milk and ice-cream, venturing into UHT Milk business was a natural progression for us at Keventer,” he said.
“The Indian UHT Milk Market is expected to surpass Rs.10,000 crores by 2023. In terms of volume, UHT Milk market in India is currently at 15,00,000 LPD (Litres per Day); with 30 percent being consumed in East India. In East alone, the UHT Milk market has grown by over 20 percent y-o-y over the last 5 years,” said Saurabh Jajodia, CEO of Keventer.