ITC jumps on healthy snacks bandwagon
- IBEF
- July 23, 2019
ITC Ltd is entering the healthy snack segment by launching a scope of baked chips made of healthy products under its Bingo image in an offer to take the primary mover advantage among the larger brands and extend its share in packaged snacks against main competitor, PepsiCo.
The company has retained the Rs 10 entry price point and will millennials who are searching for tasty and healthy snack, said by divisional chief executive (food division) at ITC, Hemant Malik.
The total salty snack market in India is evaluated at Rs 29,000 crore (US$ 4.41 billion), with a yearly development of 24 per cent. The health snack sub-segment is evaluated to be around 2 per cent of the overall snack market. Bingo! Starters will compete against a large group of imported brands.
ITC's move to enter the healthy snack segment is a piece of its plan to build a major basket of products in healthy food which are free from unhealthy ingredients and food with functional benefits.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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