ITC is planning to launch multigrain Bingo to increase its share in healthy

Itc is planning to launch multigrain bingo to

This preview shows page 18 - 20 out of 38 pages.

ITC is planning to launch multigrain Bingo to increase its share in healthy snacks market. Emphasis on Healthier Ingredients NOTABLE TRENDS…(1/2) Wide array of products, coupled with increasing global connectivity, has led to a change in the tastes and preference of domestic consumers This trend has been bolstered by rising incomes, increasing urbanisation, a young population and the emergence of nuclear families. Consumer preference is moving towards healthier snacks. Changing consumer tastes Source: Ministry of Agriculture and Farmers’ Welfare, Government of India, News Sources Strategic geographic location and continuous increase in raw material production help India to supply cheaper products to other countries Companies like Haldiram’s and Bikanerwala have a presence in over 70 countries, whereby they provide Indian snacks. Rising demand on Indian products in international market Liberalisation and growth of organised retail have made the Indian market more attractive for global players With a large agriculture sector, abundant livestock, cost competitiveness, India is fast emerging as a sourcing hub of processed food. Danone, Nestle, Kraft Foods, Mondelez International, Heinz are the international players in food processing market in India Italian confectionery manufacturer Ferrero will invest Rs 2,000 crore (US$ 310.3 million) by 2021 to make India a hub for developing new products. Hindustan Coca-Cola Beverages is establishing two greenfield plants at Ahmedabad and Nellore, with an investment worth US$ 148.74 million Expansion of international companies
Image of page 18

Subscribe to view the full document.