Britannia plans to launch salty snacks under its existing brand Time Pass
Published Date | 2019 February 25
India’s biggest biscuit maker, Britannia Industries plans to enter the Rs.24,000 crore salty snacks market which will fuel the bakery and snacks market in India.India: Britannia, India’s biggest biscuit maker going to enter the salty snacks market which is dominated by Haldiram’s and PepsiCo. Britannia plans to launch salty snacks by giving a salty twist to its brand Time Pass by next month as part of a strategy to expand to non-biscuit segments. In India, biscuits, snacks, and dairy are the three largest categories in packaged consumer products and account for a third of the nearly Rs 3.4 lakh crore market. To become a “total foods company” the maker of Good Day and Nutri Choice biscuits has identified opportunities in all three segments. In the past few months, it launched swiss rolls, layer cakes, creme wafers, croissants, and milkshakes in tetra packs. A year ago, Haldiram’s displaced Pepsi as the country’s largest snacking firm. Britannia Industries will compete mainly against PepsiCo and ITC that operate largely in the western snacking segment such as potato chips, riblon, and gathia, with brands such as Kurkure and Bingo’s Tedhe Medhe, and extruded, which includes cheese balls. As Per Britannia Industries, without divulging product range or details on variants “It will be a differentiated product range and will leverage on the fact that they have about 80 factories making their products. In snacking segment, transportation is the biggest cost but with their manufacturing footprint, costs will remain tight and efficient,” The Company’s journey towards becoming a total foods company is gaining flavor with entry into new categories and geographies and rising share of premium products that will keep the company in good stead. According to BlueWeave Consulting, Bakery Industry is one of the largest segment of the food processing industry. The availability of innovative bakery products containing multi-grains and whole wheat with low trans-fat and calorie content has further facilitated their consumption. "In recent years, more consumers have moved away from the traditional three meals per day and shifted into a lifestyle involving increased snacking, or multiple smaller meals, throughout the day." Additionally, despite tepid demand growth, India disposable income levels have raised, and consumers have increasingly turned to high-priced, premium baked goods, including organic and gluten-free options. Increasing obesity rates and the aging population have put the usage of healthy ingredients in India on a national front. Moreover, the consumers are more conscious than ever before and the movement toward healthy eating habits is one of the greatest influencers of the Bakery Products industry. Due to the busier lifestyle in the recent past, the demand for convenience products has increased a lot with the thrust of packaged food in India. With the advancement of technology, urbanization, increase in purchasing power, has augmented the business of the snack food and attracted a large mass toward the snack market in India. In order to save time, people are gradually shifting to ready to eat food items. There is an increase in the consumer interest towards snacks as there are various brands in this segment with newer technology and more benefits giving them refreshing and quick meals. According to recent published report by BlueWeave Consulting on “India Bakery Products Market, By Product Type (Biscuits, Cakes & Pastries, Bread & Rolls, Rusks and others), By Biscuits Type (Cookies, Cream Biscuits, Milk Biscuits, Glucose Biscuits, Marie biscuits, Salt Crackers Biscuits, Non-Salt Crackers Biscuits and others), By Distribution Channel(Retail Stores, Specialty Retailers and Online Distributors), By Region(North, South, East and West), Size and Forecast, 2014-2025,” India Bakery Products market is expected to grow with a significant growth rate during the forecast period 2018-2025 owing to their pleasant taste and health-benefits as they are made from a variety of grains like maize, wheat, and oats. India is the second largest producer of biscuits (cookies) in the world after the USA. Bakery industry is one of the oldest businesses in India, which is modernizing and is constantly changing in terms of product range and services due to the high nutrient value and affordability bakery products will drive the bakery market over the forecasted period. According to the upcoming report by BlueWeave Consulting on “Global Savory Snacks Market By Product Type (Potato Chips, Extruded Snacks, Popcorns, Other Salted Snacks), By Sales Channel (Supermarket/Hypermarket, Convenience Store & Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Size and Forecast, 2014-2025,” After 1995, India has seen a massive change in the Snack food market. Due to the busier lifestyle in the recent past, the demand for convenience products has increased a lot with the thrust of packaged food in India. The growth in this market is primarily driven by factors such as changing lifestyles of the consumers worldwide, increasing snacking among the youth and new product launches among others. On the other hand, growing obesity concerns among the consumers According to the upcoming report by BlueWeave Consulting on “Global Biscuits Market By Product Type (Sweet Biscuits, Savory, Crackers, Filled/Coated, and Wafers), By Ingredients (Wheat, Oats, and Millets), By Flavor Type (Plain, Chocolate, Sour Cream, Cheese, and Spiced, and Fruits and Nuts),By Sales Channel (Supermarket/Hypermarket, Convenience Store & Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Size and Forecast, 2014-2025,” Global Biscuits Product market is projected to grow with a significant growth rate during the forecast period 2018-2025 due to the innovative packaging, new flavors, shapes, technological advancement. Biscuits are one of the most important snacks used in an average household. The major factors driving the growth of the biscuits market are the increasing preference for convenience and snacking, rising demand for healthy snacks and the augment in the per capita food consumption in emerging countries.