Juggat to setup new plants to accelerate nutraceutical production
Category: #health  By Saipriya Iyer  Date: 2020-11-09
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Juggat to setup new plants to accelerate nutraceutical production

 

  • The move comes ahead of Mulmina’s growing demand since April.
  • As per reports, Juggat would invest Rs 60 crore in 2 new manufacturing units to ramp up the production of nutraceuticals over FY22.

The global nutraceutical market is currently expanding at a rapid pace and is touted to record a valuation of USD 18 billion in 2015, offering major growth opportunities to the industry leaders to expand their portfolio in this field. Speaking of which, Juggat Pharma has reportedly announced that it is all set to build 2 new plants in the states of India by the end of FY22 to scale up the production in Madhya Pradesh and Uttar Pradesh. This move comes on heels with the company’s escalating sales of its flagship product- Mulmina, which has grown over 150% since April.

With such a surge in demand post COVID-19 outbreak, Juggat has initiated an investment of Rs 60 crore to realize the production of nutraceutical products in these two regions by 2022. For the records, a nutraceutical product is food extract supplement which helps in preventing chronic diseases, delays the ageing process, and builds immunity.  

Speaking on the matter, Rajesh Jagdale- the Managing Director of Jagdale Industries, parent company of Juggat Pharma, cited that the company is hoping to generate 50% of its total revenue with nutraceutical business over the next two years, while the other portion is expected to come from pharma products. In fact, official sources close of the company stated that the nutraceutical segment currently produces 20% of the company’s total revenue and is likely to generate a total income of Rs 100 crore by FY21 with this initiation.

It has been reported that while the company would have separate lines for its nutraceutical products at two new factories, it will also record the presence of tetra Pak packaging lines for environment friendly packaging. It is pivotal to mention that the company currently has about 5 manufacturing plants, one each for pharmaceutical, ayurvedic, and nutraceutical products, and two others for tetra Pak packaging. 

Source credit: https://www.business-standard.com/article/companies/juggat-pharma-to-set-up-2-plants-in-fy22-to-boost-nutraceutical-production-120110800439_1.html



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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