As consumers have become more health conscious since Corona and are taking the time to read product labels before making a purchase, FMCG companies have recognized an opportunity to launch a healthier range of products and potentially capture a larger share of the wallet .
ITC has developed a comprehensive strategy to expand the range of millet-based products. “There are plans to launch other millet-based products such as noodles, noodles and ragi vermicelli,” said chief digital marketing officer Shuvadip Banerjee.
Britannia, which launched its range of biscuits and millet-based biscuits under the NutriChoice brand name last year, wasted no time in expanding its millet-based product basket to include millet breads, which are currently being tested in Delhi-NCR. “There is a trend towards health and nutrition. It is a good opportunity to expand the consumer base by introducing millet-enriched products. Typically, those who have tried our other health offerings are those who are also keen to experiment with millet,” said CEO and General Manager Rajneet Kohli.
The Indian millet market is expected to grow at a CAGR of 16.7% through 2021-26, Kohli said. “There is potential to achieve some level of scalability in this category unless the prices of the products are prohibitively expensive,” he said Yudhishtar ShringiChief Business Officer (bread, cakes and rusks) at Britannia.
Nestle India has equally ambitious plans to launch more millet-based offerings. “Three brands will be involved – Ceregrow, Nestle Aplus and of course Maggi,” CMD Suresh Narayanan had said earlier this year.
