Parag Milk Foods had expanded its product range to enter beverage category. The company introduced 'Slurp', a mango drink with a dash of milk.
Being a milk based mango drink it has an edge over competition, said Bharat Kedia, CFO, Parag Milk Foods in an interview to CNBC-TV 18.
He said they entered this space because they were not present there, and moreover, competition in milk based mango beverages was low.
The 200ml pack of Slurp is charged at Rs 20. The pricing of the product is at a premium because it is a value based drink, said Kedia, and because pricing has its relevance to value. Consumers are appreciating the product, he added.
The company in the last one year started focusing higher on beverages, he said, adding that any product that has milk content or is a dairy based has the potential to flourish in India.
According to him, mango beverage market size is over Rs 6000 crore.
Meanwhile, he said the production of the new beverage will be done from their existing facility in southern India.