ALL

Industry & Competitive Context India's Health Food Drinks (HFD) category malted, powdered nutritional beverages consumed mixed with milk or water has historically been dominated by a small set of legacy brands. According to Nielsen data cited in industry reporting, Horlicks held a 52.6% volume market share as of the 2008–09 measurement period, with Bournvita (17.2%), Boost (12.6%), and Complan (12.1%) as its closest rivals. A 2018 RedSeer industry report placed Bournvita as t