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Britannia’s never-ending search for dairy riches

Updated: Feb 11, 2023

The brand had been at it for the past quarter century and has recently been having a more stellar time.

What is happening: Over the past decade, Britannia's market share has consistently inched up while its shares have also doubled in value in the past five years.

Why it matters: With a market capitalisation of Rs 1.11 lakh crore (US$13.4 billion), Britannia is now India’s fourth-most-valuable FMCG company.

  • India may be the world’s largest milk producer, but its dairy market is notoriously difficult for new entrants.

Backdrop: Britannia offers its customers the whole gamut of dairy products, including milk, butter, dairy whitener, and curd but cheese accounts for half of its dairy sales.

  • Cheese was among the first products Britannia launched when it decided to take a crack at dairy in 1997, besides milk and whiteners.

The big picture: In the overall portfolio of the 104 year old company, diary is merely a rounding error.

  • Of the year ending March 2022, of 14,000 crore revenue only a mere 500 crores came from the dairy industry

What the numbers say: The co-operative brand Amul controls one-third of the country’s fresh-milk market, half of its cheese industry, and more than four-fifths of its butter market.

What next: As per the spokesperson, Britannia wants to be a foods company and not just a biscuit brand.

Further, it has been in dairy too long to ditch it now.

Read in short: Despite the lackluster performance of the dairy sector based sales in the company giant, Britannia continues to pursue expansion into the dairy industry of India.


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