Uth Beverage Factory (UBF), which specialises in premium-quality whey protein supplements, plans to launch protein ice cream powder, a weight management protein as well as a multivitamin.
Giving details on the launch, Samit Mehta, the company’s founder, said, “Our research and development (R&D) and own manufacturing give us a lot of flexibility to work on several innovative concepts. Backed by technology from innoWHEYte Nutrition, USA, we are gearing up to launch protein ice cream powder, a weight management protein as well as a multivitamin in early 2019.”
The company estimates sales for financial year (FY) 2018-19 to be Rs 20 crore, with positive earnings before interest, taxes, depreciation and amortisation (EBITDA) and aims for revenue of Rs 50 crore in the next three years.
“We will be expanding distribution reach and availability by adding new teams, and the expansion plan will be supported through internal fund flow,” Mehta said.
UBF aspires to be the leading sports nutrition brand in India with a specialisation in premium quality whey protein supplements backed by ingredients from Glanbia Nutritionals and technology from innoWHEYte Nutrition, USA.
Unlike most other companies that outsource their manufacturing and only have a sales and distribution team, UBF has full control on the cost, quality and timely delivery of its products because of its state-of-the-art FSSAI-approved manufacturing facility. It has invested in excess of Rs 15 crore to create best-in-class manufacturing infrastructure.
Mehta said, “Under the brand name Six Pack Nutrition, the product portfolio consists of ready-to-mix premium Whey Protein Isolate sourced from Glanbia, muscle mass supplements, weight gain powders and isotonic drink powders.”
Six Pack Nutrition has a strong presence online through Paytm, Amazon, Flipkart, Nutrabay, Healthkart, as well as the company’s own website, www.sixpacknutrition.in. The brand is also available in leading offline sports nutrition stores across India.
It needs to strengthen presence in the North-East as well as a few states in South India. Most of the sales offline are from the North and West, and the team is working on correcting any regional imbalances.
The market, especially whey protein in India, increased at a compound annual growth rate (CAGR) of 39 percent during the period 2013-2017. The total supplement market in India is supposed to reach $828 million in 2018.
There are various players in the market – both international and Indian. Glanbia Nutritionals is one such player. And the company sources its raw material from Glanbia for its own brand, Six Pack Nutrition, too.
The forecast for the next four years (2018-2022) is expected to be about 24 percent, which means an increase from $828 million to $2 billion by 2022.
