Parle eyes for 100-150 crores turnover from healthy biscuits space
Published Date | 2019 March 18
Parle re-entered healthy biscuits market with “Nutricrunch” range with an aim of 150cr turnover in the next two year which will fuel the India Biscuits Market.
India: Biscuits maker Parle Products Pvt Ltd is eyeing up to Rs 150 crore turnover from its newly launched brand 'Nutricrunch' for health-conscious customers in the next 18-24 months. The company has re-entered healthy biscuits space with Nutricrunch range after it exited the category six months ago and discontinued its brand Simply Good. The company is looking at a Rs 100-150 crore turnover from Nutricrunch range in 1.5-2 years. Health-based biscuits category is growing at a fast pace. Parle re-entered the category with focus and are offering products targeted at specific customer requirements," The new brand is available across India but mostly in urban cities. With Nutricrunch, company plans to offer consumers a healthy snack that is not just high in fiber but also aids multiple lifestyle issues prevalent in today's fast-paced world like weight management, sugar control, cholesterol management, and nutrient deficiency. "Company is focusing on consumers who consciously opt for healthy offerings and not those who buy a brand due to discounts. The industry size of the health biscuit and cookies category is about Rs 1,000 crore and has been growing at about 15 percent per year. The nutricrunch range of products includes digestive biscuits, honey, and oats cookies, digestive Marie and lite cracker and aiming to double company turnover and cross Rs 20,000 crore by 2023-24. According to BlueWeave Consulting, India Biscuits market is estimated to grow with a significant growth rate during the forecast period. Owing to a change in consumer taste & preferences, increasing health-conscious consumers, and rising demand for convenience food. Biscuit industry is one of the largest food industries in India. The availability of healthy biscuits 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 healthy biscuits products industry. According to recent published report by BlueWeave Consulting on “India Biscuits Market, By Product Type (Cookies, Cream Biscuits, Glucose & Milk Biscuits, Marie biscuits, Salt Crackers Biscuits, and others), By Category (Premium Biscuits and Non-Premium Biscuits), By Distribution Channel (Retail Stores, Specialty Retailers and Online Distributors), By Region (North, South, East and West), Size and Forecast, 2015-2025,” Biscuit industry is one of the largest food industries in India instead of volatility in Raw material prices & increasing tax slab. India is a transitional market as far as biscuit consumption is concerned. The shift in consumption towards healthy products owing to better appeal, taste, and convenience is a significant driver of the market growth. The fast-paced lifestyle and impact of urbanization have increased the demand for crackers and other baked goods. The consumers are more conscious than ever before and the availability of biscuits with functional ingredients such as wheat, oats, and multi-grains, honey, etc. appeal to health-conscious consumers who choose such biscuits as a healthy snacking option. Furthermore, Rise in the innovation of biscuits product offerings, increasing per capita household income, the surge in consumer spending on food products will lead the market over the forecast period. 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. 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 forecast period.