Sido Muncul Still Strong as Leader of Herbal Industry Market Share

JAKARTA - PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO) through the legendary product Tolak Angin, has now managed to control 72 percent of the national herbal market share, leaving far behind competitors in the same category.

Success in mastering the market is directly proportional to the financial performance of the company, where Sido Muncul is optimistically targeting net profit of up to IDR 1.2 trillion this year.

President Director of PT Industri Jamu dan Farmasi Sido Muncul Tbk, Dr. (H.C.) Irwan Hidayat, emphasized that the dominance that has lasted for decades is the fruit of the company's consistency in maintaining product quality and consumer trust that is difficult to shake.

"If the process is correct, the results will not lie. I know what the market is like and I know what I am doing," said Irwan Hidayat, who has dedicated 59 years of his life to developing Sido Muncul, while giving testimony in the Agro Sido Muncul area, Friday, May 8.

Irwan explained that as long as the macroeconomic conditions are stable and there are no extreme negative sentiments, the demand for Sido Muncul products will always be strong because it is supported by mature research and clinical trials.

Currently, Tolak Angin remains the backbone of the company's business with a very massive absorption at the distributor and retailer levels in major cities such as Jakarta, Bandung, to Semarang. Not stopping at the domestic market, Sido Muncul also continues to spur export expansion to countries such as China and India to bring Indonesian herbal products up in class in the international arena.

As part of its long-term growth strategy, Sido Muncul is preparing a new product innovation that is scheduled to hit the market in August.

Although the details of the product are still confidential, Irwan Hidayat expressed his confidence that this new product will be well received by the market because it has gone through very careful calculations.

"If I make something, I have to be sure that the product will sell. We remain optimistic about facing market dynamics and existing competition," concluded Irwan.