Mumbai, Jan 13 (PTI) In a bid to tap the ready-to-eatspace, FMCG major Britannia Industries today entered thesegment with the launch of a complete range of healthybreakfast mixes of upmas, pohas, porridges and oats.
The ready-to-eat (RTE) market is still at a verynascent stage at around Rs 148 crore and is growing at a CAGRof 15 per cent driven by a fast-paced urban lifestyle,increasing prevalence of nuclear family structure, risingdisposable income, larger number of globe-trotting Indianswith an experimentative palate.
"We have launched a breakfast solution combined withconvenience, health and taste. The products have great healthvalue as they contain no transfats, no cholesterol, no MSG andno preservatives," Britannia Industries Managing DirectorVinita Bali said in a release here.
The entry into RTE segment would give a boost toBritannia''s overall revenues as the country''s largest biscuit-maker is facing challenges from the escalating input costswith inflation reaching 16-17 per cent in the last few months.
The company, however, would have to face toughcompetition from dominating players like MTR, Gits, ITC,Bambino and Kohinoor Foods. Though these companies alreadyhave had created a niche for themselves, several local playerssuch as Tasty Treat and Chings have managed to grab asubstantial market share.
Britannia has launched some innovative snacks such asveg poha, chinese poha, braoken wheat poha, manchurain upma,savory oats and strawberry oats. The products, to hit themarket next week, has been priced in a range from Rs 33 per170 grams to Rs 105 per 400 grams, the release said.