Parle Launches Musst Chips and Sticks to Take on Fritolay’s Kurkure Essay Example
Due to India's expanding economy and greater disposable income, there is a significant desire for convenient food products. Among these, teenagers are particularly interested in ready-to-eat snacks and juices, resulting in the development of new offerings within these markets. Parle Products Ltd has responded by introducing Musst Sticks and Musst Chips as their latest additions to the organized snacks market.
In a recent interview with Hindustan Times, Mayank Shah, the group product manager of Parle Products, discussed the company's expansion into the branded snacks market. Known for their biscuit brand, Parle Products has launched Musst Sticks and Musst Chips in select areas of Maharashtra such as Pune, Nagpur, Nasik and Mumbai. The company's goal is to achieve a 20% volume market share within the first year in this segment. Whether or not there will be a national rollout will depend o
...n customer feedback over the next three to six months. These new snack brands will be competing with Kurkure and Bingo! To develop these products, Parle Products invested between Rs 10 and Rs 15 crores and intends to devote 10% of their sales towards below-the-line promotions.
The snack market in India is worth more than Rs 2,000 crore and dominated by FritoLay India's Lays and Kurkure, as well as ITC's Bingo! Other popular brands like Haldirams and Balaji also participate. Britannia has expanded with their product 50:50 Chutkule. Neeraj Chandra from Britannia believes that snacks are popular among Indian consumers, especially teenagers, leading to a positive outlook for the industry. The organized sector has seen double-digit growth recently, attracting FMCG companies such as Nestle, GlaxoSmithKline, Parle, and Britannia targeting convenience foods.
He believes that the growth of the
market is being driven not only by a growing economy, but also by the development of organized retail.
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