Avesta Good Earth to foray into functional food category

New Delhi, July 10 (UNI) Pharma major Avesthagen, subsidiary of Avesta Good Earth, today said it will come up with a range of functional food in the next 15-20 months.

''The company will put in a substantial amout of investment and use the technology of Avesthagen in the products,'' said company Chief Executive Officer Sandip Dang on the sidelines of the launch of its range of muesli-based products.

An industry, estimated to be worth 80 billion dollars worldwide, has a market potential of Rs 2,000 crore in India.

''Apart from dietary supplements, the market in India stands at Rs 125 crore,'' Mr Dand said.

The market is growing at the rate of 16-25 per cent and poses immense potential in the country as more and more people take up to the advantage of functional food.

Functional food are said to prevent the onset of diseases like diabetes, vascular diseases, osteoporosis and obesity.

''There is a growing awareness about these products, with players like Amway, Mody, Herbalife and we would like a share of the pie,'' he added.

UNI