Calcutta, Aug. 11: The Indian arm of Kraft Heinz - the American food and beverages major - aims to increase its market share in milkfood drinks with the introduction of a new version of its flagship homegrown brand Complan.

The company also plans to introduce new products in 2018, while a concentrated nutritional foods segment is on the radar.

Kraft Heinz has a market share of around 7-8 per cent and expects to touch double digits over the next one-and-a-half years. Glaxo SmithKline's Horlicks brand commands over 40 per cent of the Rs 5,500-crore market.

Kraft Heinz officials today said through a focussed pricing strategy, the company had been able to improve its market share at a time the industry was affected by the GST.

"We did a study to understand the elasticity of different packs - how the prices move and impact the volume. Some of the learning from that were deployed in the April-June quarter, which helped us to gain better volumes," said Vikramjeet Singh, chief marketing officer of Kraft Heinz India.

The company has lowered the prices of smaller packets (less than 200 grams) and increased the prices of larger packets, which has helped to increase its market share by around 20 basis points.

The brand overhaul of Complan will help the company to increase its market share.

The company also has Glucon-D, Heinz ketchup and Kraft cheese and Nycil in its Indian portfolio.