The Market Is continuously bombarded with new products the market.
Marico Limited has expanded its range of packaged foods with the launch of ready-to-eat snacks, The new range under the Saffola Munchiez brand will compete with various other snacking brands in the market, including those sold by ITC Ltd., and PepsiCo.
About The Products
The launch includes Saffola Munchiez Ragi Chips and Saffola Munchiez Roasted Makhana in various flavors. Both products are currently available in generally the trade stores and will soon be available across modern trade and e-commerce platforms, the company said in its statement.
Aim Of The Launch
Marico is trying to make a Profit emerging demand for healthier snacking options in the packaged snacks segment. The company’s entry into the ready-to-eat snack category will further strengthen its foothold in the healthy and premium foods segment.
Marico has earlier indicated that the food franchise is set to reach revenues of ₹650 crores in FY23 and ₹850 crores to ₹1,000 crores in FY24.
In line with these targets, Marico has been extending its core Saffola edible oil brand to several other categories within foods such as oats, instant noodles, honey, spreads, soya nuggets, etc. The entry into ready-to-eat snacks is in line to increase the footprint of its food business.
Sanjay Mishra, Chief Operating Officer (COO), India Business and Chief Executive Officer (CEO), new business, Marico Limited.
With Saffola Munchiez, we aim to address the rising trend of conscious indulgence among today’s modern consumers. We observed that increasing number of consumers are preferring branded snacks over unpackaged snacks range.
Saffola Munchiez will address the need for on-the-go healthier snacking options that are better for our diverse consumer base.
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