The company also plans to extend the Protekt brand to other categories of the health and wellness market.
FMCG firm Godrej Consumer Products Ltd (GCPL) is targeting 10% market share in the hand wash and hand sanitisers segment in the next three years with its Protekt range.
The company also plans to extend the Protekt brand to other categories of the health and wellness market.
"We would like to be at least 10% of the market in next 2-3 years," GCPL Business Head (India and SAARC) Sunil Kataria told PTI.
Presently, the combined market size of hand wash and hand sanitisers segment is around Rs 500 crore and is growing at around 15% every year. The hand wash market alone accounts for about Rs 450 crore, he added.
"Health and wellness is becoming a need of the country and it is getting stronger with ongoing campaigns such as Swachh Bharat. We feel that there is potential to create a big brand in the segment," Kataria said.
ALSO READ: GCPL Q2 net profit surges 22% to Rs 287 crore
As a strategy, the Godrej group firm would focus on 'delightful protection' to differentiate itself from other firms through attractive designs and packaging, formulations and fragrance.
Asked whether GCPL has slightly delayed its entry into the segment, Kataria said, "Penetration is still very small and it has to become bigger. We are thinking about long-term gain."
GCPL plans to extend Protekt brand to other categories, he said, but declined to elaborate.
"We are not looking at it as a hand wash or hand sanitiser brand only. It is an overall wellness brand. We see the brand definitely going into other categories where we can offer protection," said Kataria.
The company had launched Protekt as a health and wellness brand in May 2014 in modern retail outlets and extended it to general trade in October 2015. Presently, the brand has three hand wash products, one hand sanitiser and one mosquito repellent spray called Buzz Off.
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