Packaged Food in India (Full Market Report) PDF

PACKAGED FOOD IN INDIA
Euromonitor International
November 2018
PACKAGED FOOD IN INDIA Passport I
LIST OF CONTENTS AND TABLES

Packaged Food in India - Industry Overview ................................................................................ 1
Executive Summary ..................................................................................................................... 1
Strong Double-digit Growth for Packaged Food ....................................................................... 1
Smaller Pack Sizes Become Increasingly Popular Due To Healthy Living ............................... 1
Competition Intensifies As Manufacturers Fight To Retain Or Gain Share ............................... 1
Modern Grocery Retailers Slowly Gaining Share From Traditional Grocery Retailers .............. 2
Significant Opportunities for Packaged Food in the Forecast Period ........................................ 2
Foodservice .................................................................................................................................. 2
Sales To Foodservice ............................................................................................................... 2
Consumer Foodservice ................................................................................................................ 3
Health and Wellness Influences Consumer Foodservice in Urban Regions ............................. 4
Affordability Coupled With Desire for Experience Drives Consumer Foodservice .................... 4
Retailers and Consumer Foodservice Operators Explore and Enter Each Other’s Space ....... 4
Category Data .............................................................................................................................. 5
Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-
2018 ............................................................................................................. 5
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth
2013-2018 .................................................................................................... 5
Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume
2018-2023 .................................................................................................... 5
Table 4 Forecast Foodservice Sales of Packaged Food by Category: %
Volume Growth 2018-2023 .......................................................................... 5
Market Data .................................................................................................................................. 5
Table 5 Sales of Packaged Food by Category: Volume 2013-2018 .......................... 5
Table 6 Sales of Packaged Food by Category: Value 2013-2018 ............................. 6
Table 7 Sales of Packaged Food by Category: % Volume Growth 2013-2018 ......... 6
Table 8 Sales of Packaged Food by Category: % Value Growth 2013-2018 ............ 6
Table 9 GBO Company Shares of Packaged Food: % Value 2014-2018 ................. 6
Table 10 NBO Company Shares of Packaged Food: % Value 2014-2018 ................. 7
Table 11 LBN Brand Shares of Packaged Food: % Value 2015-2018 ........................ 8
Table 12 Penetration of Private Label by Category: % Value 2013-2018 ................... 9
Table 13 Distribution of Packaged Food by Format: % Value 2013-2018 ................. 10
Table 14 Distribution of Packaged Food by Format and Category: % Value
2018 ........................................................................................................... 10
Table 15 Forecast Sales of Packaged Food by Category: Volume 2018-2023 ......... 12
Table 16 Forecast Sales of Packaged Food by Category: Value 2018-2023 ............ 12
Table 17 Forecast Sales of Packaged Food by Category: % Volume Growth
2018-2023 .................................................................................................. 12
Table 18 Forecast Sales of Packaged Food by Category: % Value Growth
2018-2023 .................................................................................................. 12
Sources ...................................................................................................................................... 13
Summary 1 Research Sources ...................................................................................... 13
Edible Oils in India - Category analysis ...................................................................................... 17
Headlines ................................................................................................................................... 17
Prospects ................................................................................................................................... 17
© Euromonitor International
PACKAGED FOOD IN INDIA Passport II
Rising Health Awareness Leads Consumers To Switch To Olive Oil and Rapeseed Oil ........ 17
Lower Price Point Continues To Support High Consumption of Palm Oil in India .................. 17
Blended Oils Pose Growing Competitive Threat To Olive Oil ................................................. 18
Competitive Landscape .............................................................................................................. 18
Adani Overtakes Ruchi Soya To Claim the Overall Lead in Edible Oils .................................. 18
Ruchi Soya Set To Be Acquired by Adani .............................................................................. 18
Other Edible Oils Gains Momentum As Companies Introduce New Products ........................ 19
Category Data ............................................................................................................................ 19
Table 19 Sales of Edible Oils by Category: Volume 2013-2018 ................................ 19
Table 20 Sales of Edible Oils by Category: Value 2013-2018 ................................... 19
Table 21 Sales of Edible Oils by Category: % Volume Growth 2013-2018 ............... 19
Table 22 Sales of Edible Oils by Category: % Value Growth 2013-2018 .................. 20
Table 23 NBO Company Shares of Edible Oils: % Value 2014-2018 ....................... 20
Table 24 LBN Brand Shares of Edible Oils: % Value 2015-2018 .............................. 21
Table 25 Distribution of Edible Oils by Format: % Value 2013-2018 ......................... 22
Table 26 Forecast Sales of Edible Oils by Category: Volume 2018-2023 ................. 22
Table 27 Forecast Sales of Edible Oils by Category: Value 2018-2023 .................... 23
Table 28 Forecast Sales of Edible Oils by Category: % Volume Growth 2018-
2023 ........................................................................................................... 23
Table 29 Forecast Sales of Edible Oils by Category: % Value Growth 2018-
2023 ........................................................................................................... 23
Ready Meals in India - Category analysis .................................................................................. 24
Headlines ................................................................................................................................... 24
Prospects ................................................................................................................................... 24
Hectic Lifestyles Strengthen Appreciation for the Convenience of Ready Meals .................... 24
Wide Product Variety and Improvements in Distribution Help To Drive Demand ................... 24
Consumers Show Growing Interest in Frozen Ready Meals .................................................. 25
Mccain Foods Retains Its Lead in Ready Meals in India ........................................................ 25
Capital Foods Ltd and Mtr Foods Ltd Continue To Occupy Second and Third Spots ............. 25
Itc Aims To Strengthen Its Position Via New Product Development ....................................... 26
Category Data ............................................................................................................................ 26
Table 30 Sales of Ready Meals by Category: Volume 2013-2018 ............................ 26
Table 31 Sales of Ready Meals by Category: Value 2013-2018 ............................... 26
Table 32 Sales of Ready Meals by Category: % Volume Growth 2013-2018 ........... 26
Table 33 Sales of Ready Meals by Category: % Value Growth 2013-2018 .............. 27
Table 34 Sales of Frozen Ready Meals by Ethnicity: % Value 2013-2018................ 27
Table 35 NBO Company Shares of Ready Meals: % Value 2014-2018.................... 27
Table 36 LBN Brand Shares of Ready Meals: % Value 2015-2018 .......................... 28
Table 37 Distribution of Ready Meals by Format: % Value 2013-2018 ..................... 28
Table 38 Forecast Sales of Ready Meals by Category: Volume 2018-2023 ............. 29
Table 39 Forecast Sales of Ready Meals by Category: Value 2018-2023 ................ 29
Table 40 Forecast Sales of Ready Meals by Category: % Volume Growth
2018-2023 .................................................................................................. 30
Table 41 Forecast Sales of Ready Meals by Category: % Value Growth 2018-
2023 ........................................................................................................... 30
Sauces, Dressings and Condiments in India - Category analysis .............................................. 31
Headlines ................................................................................................................................... 31
Prospects ................................................................................................................................... 31
PACKAGED FOOD IN INDIA Passport III
Demand for Dry Sauces and Herbs and Spices Remains Strong ........................................... 31
Mayonnaise and Salad Dressings Benefit From Growing Interest in Western Cuisine ........... 31
Pasta Sauces Is the Most Dynamic Category in 2018 ............................................................ 32
S Narendrakumar & Co Continues To Lead Sauces, Dressings and Condiments ................. 32
Mahashian Di Hatti Pvt Ltd Remains the Second Leading Player in 2018.............................. 32
Desai Bros Ltd Continues To Perform Positively Thanks To New Launches .......................... 32
Category Data ............................................................................................................................ 33
Table 42 Sales of Sauces, Dressings and Condiments by Category: Volume
2013-2018 .................................................................................................. 33
Table 43 Sales of Sauces, Dressings and Condiments by Category: Value
2013-2018 .................................................................................................. 33
Table 44 Sales of Sauces, Dressings and Condiments by Category: % Volume
Growth 2013-2018 ..................................................................................... 34
Table 45 Sales of Sauces, Dressings and Condiments by Category: % Value
Growth 2013-2018 ..................................................................................... 35
Table 46 NBO Company Shares of Sauces, Dressings and Condiments: %
Value 2014-2018 ........................................................................................ 35
Table 47 LBN Brand Shares of Sauces, Dressings and Condiments: % Value
2015-2018 .................................................................................................. 36
Table 48 Distribution of Sauces, Dressings and Condiments by Format: %
Value 2013-2018 ........................................................................................ 37
Table 49 Forecast Sales of Sauces, Dressings and Condiments by Category:
Volume 2018-2023 ..................................................................................... 38
Value 2018-2023 ........................................................................................ 39
% Volume Growth 2018-2023 .................................................................... 39
% Value Growth 2018-2023 ....................................................................... 40
Soup in India - Category analysis ............................................................................................... 41
Headlines ................................................................................................................................... 41
Prospects ................................................................................................................................... 41
Soup Consumption Continues To Grow Steadily in India ....................................................... 41
Flavours Could Be A Key Differentiating Factor for Soup Manufacturers ............................... 41
Dehydrated Soup Remains the Largest and Most Dynamic Category .................................... 42
Hindustan Unilever Maintains Its Commanding Lead in Soup ................................................ 42
Capital Foods Registers Dynamic Growth in Current Value Sales in 2018 ............................. 42
Nestlé Leverages Brand Value of Maggi To Boost Sales in Soup .......................................... 42
Category Data ............................................................................................................................ 43
Table 53 Sales of Soup by Category: Volume 2013-2018 ........................................ 43
Table 54 Sales of Soup by Category: Value 2013-2018 ........................................... 43
Table 55 Sales of Soup by Category: % Volume Growth 2013-2018 ........................ 43
Table 56 Sales of Soup by Category: % Value Growth 2013-2018 ........................... 43
Table 57 Sales of Soup by by Leading Flavours: Rankings 2013-2018 .................... 44
Table 58 NBO Company Shares of Soup: % Value 2014-2018 ................................ 44
Table 59 LBN Brand Shares of Soup: % Value 2015-2018 ....................................... 44
Table 60 Distribution of Soup by Format: % Value 2013-2018 ................................. 45
PACKAGED FOOD IN INDIA Passport IV
Table 61 Forecast Sales of Soup by Category: Volume 2018-2023.......................... 45

Table 62 Forecast Sales of Soup by Category: Value 2018-2023............................. 46
Table 63 Forecast Sales of Soup by Category: % Volume Growth 2018-2023 ......... 46
Table 64 Forecast Sales of Soup by Category: % Value Growth 2018-2023 ............ 46
Sweet Spreads in India - Category analysis ............................................................................... 47
Headlines ................................................................................................................................... 47
Prospects ................................................................................................................................... 47
Rising Consumption of Honey Supports Positive Development of Sweet Spreads ................ 47
Nut and Seed Based Spreads Is the Most Dynamic Category in 2018 ................................... 47
Jams and Preserves Gain Popularity Among Younger Consumers ....................................... 47
Dabur India Ltd Continues To Lead Sweet Spreads in India .................................................. 48
Intensive Promotional Activities Support Strong Performance by Patanjali Ayurved Ltd ........ 48
Hindustan Unilever Ltd Maintains Its Dominance in Jams and Preserves .............................. 48
Category Data ............................................................................................................................ 49
Table 65 Sales of Sweet Spreads by Category: Volume 2013-2018......................... 49
Table 66 Sales of Sweet Spreads by Category: Value 2013-2018............................ 49
Table 67 Sales of Sweet Spreads by Category: % Volume Growth 2013-2018 ........ 49
Table 68 Sales of Sweet Spreads by Category: % Value Growth 2013-2018 ........... 49
Table 69 Sales of Jams and Preserves by Leading Flavours: Rankings 2013-
2018 ........................................................................................................... 50
Table 70 NBO Company Shares of Sweet Spreads: % Value 2014-2018 ................ 50
Table 71 LBN Brand Shares of Sweet Spreads: % Value 2015-2018 ....................... 51
Table 72 Distribution of Sweet Spreads by Format: % Value 2013-2018 .................. 52
Table 73 Forecast Sales of Sweet Spreads by Category: Volume 2018-2023 .......... 52
Table 74 Forecast Sales of Sweet Spreads by Category: Value 2018-2023 ............. 53
Table 75 Forecast Sales of Sweet Spreads by Category: % Volume Growth
2018-2023 .................................................................................................. 53
Table 76 Forecast Sales of Sweet Spreads by Category: % Value Growth
2018-2023 .................................................................................................. 53
Baby Food in India - Category analysis ...................................................................................... 54
Headlines ................................................................................................................................... 54
Prospects ................................................................................................................................... 54
Stringent Government Regulations Keep Baby Food in Check .............................................. 54
Mothers Become More Confident Choosing the Right Food for Their Babies ........................ 54
Tax Revisions Helps Weaken Unit Price Growth in Dried Baby Food .................................... 55
Nestlé Continues To Dominate Baby Food ............................................................................. 55
Wattle Health Enters Baby Food in India ................................................................................ 55
Reckitt Benckiser Group the Best Performer in Baby Food .................................................... 55
Category Data ............................................................................................................................ 55
Table 77 Sales of Baby Food by Category: Volume 2013-2018................................ 55
Table 78 Sales of Baby Food by Category: Value 2013-2018 .................................. 56
Table 79 Sales of Baby Food by Category: % Volume Growth 2013-2018 ............... 57
Table 80 Sales of Baby Food by Category: % Value Growth 2013-2018 .................. 57
Table 81 NBO Company Shares of Baby Food: % Value 2014-2018 ....................... 58
Table 82 LBN Brand Shares of Baby Food: % Value 2015-2018 .............................. 58
Table 83 Distribution of Baby Food by Format: % Value 2013-2018......................... 59
PACKAGED FOOD IN INDIA Passport V
Table 84 Forecast Sales of Baby Food by Category: Volume 2018-2023................. 59

Table 85 Forecast Sales of Baby Food by Category: Value 2018-2023.................... 60
Table 86 Forecast Sales of Baby Food by Category: % Volume Growth 2018-
2023 ........................................................................................................... 60
Table 87 Forecast Sales of Baby Food by Category: % Value Growth 2018-
2023 ........................................................................................................... 61
Butter and Spreads in India - Category analysis ........................................................................ 62
Headlines ................................................................................................................................... 62
Prospects ................................................................................................................................... 62
Rising Demand Continues To Drive Sales of Butter ............................................................... 62
Rising Consumption and Stronger Awareness Drive Sales of Ghee ...................................... 62
Pricing To Play A Crucial Role in the Future ........................................................................... 63
Gujarat Co-operative Milk Marketing Federation Remains the Clear Leader in Butter and
Spreads .................................................................................................................................. 63
Various Initiatives Help Patanjali Ayurved To Increase Its Sales ............................................ 63
Margarine To Impact Sales of Butter Due To Higher Retail Margins ...................................... 63
Category Data ............................................................................................................................ 63
Table 88 Sales of Butter and Spreads by Category: Volume 2013-2018 .................. 63
Table 89 Sales of Butter and Spreads by Category: Value 2013-2018 ..................... 64
Table 90 Sales of Butter and Spreads by Category: % Volume Growth 2013-
2018 ........................................................................................................... 64
Table 91 Sales of Butter and Spreads by Category: % Value Growth 2013-
2018 ........................................................................................................... 64
Table 92 NBO Company Shares of Butter and Spreads: % Value 2014-2018.......... 64
Table 93 LBN Brand Shares of Butter and Spreads: % Value 2015-2018 ................ 65
Table 94 Distribution of Butter and Spreads by Format: % Value 2013-2018 ........... 66
Table 95 Forecast Sales of Butter and Spreads by Category: Volume 2018-
2023 ........................................................................................................... 67
Table 96 Forecast Sales of Butter and Spreads by Category: Value 2018-2023 ...... 67
Table 97 Forecast Sales of Butter and Spreads by Category: % Volume Growth
2018-2023 .................................................................................................. 68
Table 98 Forecast Sales of Butter and Spreads by Category: % Value Growth
2018-2023 .................................................................................................. 68
Cheese in India - Category analysis ........................................................................................... 69
Headlines ................................................................................................................................... 69
Prospects ................................................................................................................................... 69
Sales Driven by Increased Adoption of Western Food Habits ................................................ 69
New Varieties and Premium Cheese Products Drive Growth ................................................. 69
Demand Remains Strong for Soft Cheese .............................................................................. 69
Gujarat Co-operative Milk Marketing Federation Remains the Clear Leader in Cheese......... 70
Parag Milk Foods Continues To Perform Well ........................................................................ 70
Manufacturers Continue To Drive Growth in Cheese Through Additional Investment ............ 70
Category Data ............................................................................................................................ 70
Table 99 Sales of Cheese by Category: Volume 2013-2018 .................................... 71
Table 100 Sales of Cheese by Category: Value 2013-2018 ....................................... 71
Table 101 Sales of Cheese by Category: % Volume Growth 2013-2018 .................... 71
PACKAGED FOOD IN INDIA Passport VI
Table 102 Sales of Cheese by Category: % Value Growth 2013-2018 ....................... 71

Table 103 Sales of Spreadable Processed Cheese by Type: % Value 2013-2018 ..... 72
Table 104 Sales of Unprocessed Cheese by Type: % Value 2013-2018 .................... 72
Table 105 NBO Company Shares of Cheese: % Value 2014-2018 ............................ 72
Table 106 LBN Brand Shares of Cheese: % Value 2015-2018 ................................... 73
Table 107 Distribution of Cheese by Format: % Value 2013-2018.............................. 73
Table 108 Forecast Sales of Cheese by Category: Volume 2018-2023...................... 74
Table 109 Forecast Sales of Cheese by Category: Value 2018-2023......................... 74
Table 110 Forecast Sales of Cheese by Category: % Volume Growth 2018-2023 ..... 74
Table 111 Forecast Sales of Cheese by Category: % Value Growth 2018-2023 ........ 75
Drinking Milk Products in India - Category analysis.................................................................... 76
Headlines ................................................................................................................................... 76
Prospects ................................................................................................................................... 76
Drinking Milk Products Continues To Record Strong Growth ................................................. 76
Flavoured Milk Drinks the Best Performing Category ............................................................. 76
Demand for Premium Milk Is Also on the Rise ....................................................................... 77
Gujarat Co-operative Milk Marketing Federation Continues To Gain Share ........................... 77
Strength of Dairy Cooperatives Continues To Shape the Indian Dairy Industry ..................... 77
Indian Dairy Industry Appears To Be A Cash Cow for Private Equity Players and Private Milk
Producers ............................................................................................................................... 77
Category Data ............................................................................................................................ 78
Table 112 Sales of Drinking Milk Products by Category: Volume 2013-2018 ............. 78
Table 113 Sales of Drinking Milk Products by Category: Value 2013-2018 ................ 78
Table 114 Sales of Drinking Milk Products by Category: % Volume Growth 2013-
2018 ........................................................................................................... 79
Table 115 Sales of Drinking Milk Products by Category: % Value Growth 2013-
2018 ........................................................................................................... 79
Table 116 NBO Company Shares of Drinking Milk Products: % Value 2014-2018 ..... 80
Table 117 LBN Brand Shares of Drinking Milk Products: % Value 2015-2018 ........... 81
Table 118 Distribution of Drinking Milk Products by Format: % Value 2013-2018 ...... 82
Table 119 Forecast Sales of Drinking Milk Products Products by Category:
Volume 2018-2023 ..................................................................................... 83
Table 120 Forecast Sales of Drinking Milk Products Products by Category:
Value 2018-2023 ........................................................................................ 83
Table 121 Forecast Sales of Drinking Milk Products Products by Category: %
Volume Growth 2018-2023 ........................................................................ 84
Table 122 Forecast Sales of Drinking Milk Products Products by Category: %
Value Growth 2018-2023 ........................................................................... 85
Yoghurt and Sour Milk Products in India - Category analysis ..................................................... 86
Headlines ................................................................................................................................... 86
Prospects ................................................................................................................................... 86
Yoghurt Benefits From Product Innovation and Premiumisation ............................................ 86
Sour Milk Products Benefiting From the Offer of Small Pack Sizes ........................................ 86
New Tax Rates Benefit Yoghurt and Sour Milk Products ........................................................ 87
Leading Cooperatives Maintain Their Positions in Yoghurt and Sour Milk Products .............. 87
Danone Exits the Dairy Industry in India ................................................................................. 87
Category Data ............................................................................................................................ 87
PACKAGED FOOD IN INDIA Passport VII
Table 123 Sales of Yoghurt and Sour Milk Products by Category: Volume 2013-
2018 ........................................................................................................... 87
Table 124 Sales of Yoghurt and Sour Milk Products by Category: Value 2013-
2018 ........................................................................................................... 88
Table 125 Sales of Yoghurt and Sour Milk Products by Category: % Volume
Growth 2013-2018 ..................................................................................... 88
Table 126 Sales of Yoghurt and Sour Milk Products by Category: % Value
Growth 2013-2018 ..................................................................................... 88
Table 127 NBO Company Shares of Yoghurt and Sour Milk Products: % Value
2014-2018 .................................................................................................. 89
Table 128 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2015-
2018 ........................................................................................................... 89
Table 129 Distribution of Yoghurt and Sour Milk Products by Format: % Value
2013-2018 .................................................................................................. 90
Table 130 Forecast Sales of Yoghurt and Sour Milk Products by Category:
Volume 2018-2023 ..................................................................................... 91
Table 131 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value
2018-2023 .................................................................................................. 91
Table 132 Forecast Sales of Yoghurt and Sour Milk Products by Category: %
Volume Growth 2018-2023 ........................................................................ 92
Table 133 Forecast Sales of Yoghurt and Sour Milk Products by Category: %
Value Growth 2018-2023 ........................................................................... 92
Other Dairy in India - Category analysis ..................................................................................... 93
Headlines ................................................................................................................................... 93
Prospects ................................................................................................................................... 93
Travellers and Hotels Contribute To the Growth of Coffee Whiteners .................................... 93
New Tax Rate Drives Up the Price of Condensed Milk........................................................... 93
Condensed Milk in India Remains A Duopoly ......................................................................... 93
Everyday Dairy Whitener and Amulya Dairy Whitener Compete in Coffee Whiteners ............ 94
Category Data ............................................................................................................................ 94
Table 134 Sales of Other Dairy by Category: Volume 2013-2018............................... 94
Table 135 Sales of Other Dairy by Category: Value 2013-2018.................................. 94
Table 136 Sales of Other Dairy by Category: % Volume Growth 2013-2018 .............. 95
Table 137 Sales of Other Dairy by Category: % Value Growth 2013-2018 ................. 95
Table 138 NBO Company Shares of Other Dairy: % Value 2014-2018 ...................... 96
Table 139 LBN Brand Shares of Other Dairy: % Value 2015-2018 ............................. 96
Table 140 Distribution of Other Dairy by Format: % Value 2013-2018........................ 96
Table 141 Forecast Sales of Other Dairy by Category: Volume 2018-2023................ 97
Table 142 Forecast Sales of Other Dairy by Category: Value 2018-2023................... 97
Table 143 Forecast Sales of Other Dairy by Category: % Volume Growth 2018-
2023 ........................................................................................................... 98
Table 144 Forecast Sales of Other Dairy by Category: % Value Growth 2018-
2023 ........................................................................................................... 98
Chocolate Confectionery in India - Category analysis .............................................................. 100
Headlines ................................................................................................................................. 100
Prospects ................................................................................................................................. 100
Growing Demand for Premium Chocolate in India ................................................................ 100
Innovation in Chocolate Is Well Received by Indian Consumers .......................................... 100
PACKAGED FOOD IN INDIA Passport VIII
Health Benefits Associated With Chocolate Varieties Drive Growth ..................................... 101
Competitive Landscape ............................................................................................................ 101
Mondelez India Foods Pvt Ltd Focuses on Premium Products in Chocolate Confectionery . 101
Ferrero India Pvt Ltd Aiming To Capture More Share in Chocolate Confectionery ............... 101
Many Local Companies Enter Chocolate Confectionery....................................................... 101
Category Data .......................................................................................................................... 102
Table 145 Sales of Chocolate Confectionery by Category: Volume 2013-2018 ........ 102
Table 146 Sales of Chocolate Confectionery by Category: Value 2013-2018 ........... 102
Table 147 Sales of Chocolate Confectionery by Category: % Volume Growth
2013-2018 ................................................................................................ 102
Table 148 Sales of Chocolate Confectionery by Category: % Value Growth
2013-2018 ................................................................................................ 103
Table 149 Sales of Chocolate Tablets by Type: % Value 2013-2018 ....................... 103
Table 150 NBO Company Shares of Chocolate Confectionery: % Value 2014-
2018 ......................................................................................................... 103
Table 151 LBN Brand Shares of Chocolate Confectionery: % Value 2015-2018 ...... 104
Table 152 Distribution of Chocolate Confectionery by Format: % Value 2013-
2018 ......................................................................................................... 105
Table 153 Forecast Sales of Chocolate Confectionery by Category: Volume
2018-2023 ................................................................................................ 106
Table 154 Forecast Sales of Chocolate Confectionery by Category: Value 2018-
2023 ......................................................................................................... 106
Table 155 Forecast Sales of Chocolate Confectionery by Category: % Volume
Growth 2018-2023 ................................................................................... 106
Table 156 Forecast Sales of Chocolate Confectionery by Category: % Value
Growth 2018-2023 ................................................................................... 107
Gum in India - Category analysis ............................................................................................. 108
Headlines ................................................................................................................................. 108
Prospects ................................................................................................................................. 108
Bad Breath and Smell of Cigarettes Support Gum Sales ..................................................... 108
Product Lifecycle of Gum Normalises Due To Maturity ........................................................ 108
Shopping Habits of Consumers Has Changed for Gums ...................................................... 108
International Players Continue To Dominate Gum in India ................................................... 109
Regional Companies Offer Strong Competition To International Players ............................. 109
Category Data .......................................................................................................................... 109
Table 157 Sales of Gum by Category: Volume 2013-2018 ....................................... 109
Table 158 Sales of Gum by Category: Value 2013-2018 .......................................... 109
Table 159 Sales of Gum by Category: % Volume Growth 2013-2018 ...................... 110
Table 160 Sales of Gum by Category: % Value Growth 2013-2018 ......................... 110
Table 161 Sales of Gum by Flavour: Rankings 2013-2018 ....................................... 110
Table 162 NBO Company Shares of Gum: % Value 2014-2018 ............................... 110
Table 163 LBN Brand Shares of Gum: % Value 2015-2018 ..................................... 111
Table 164 Distribution of Gum by Format: % Value 2013-2018 ................................ 111
Table 165 Forecast Sales of Gum by Category: Volume 2018-2023 ........................ 112
Table 166 Forecast Sales of Gum by Category: Value 2018-2023 ........................... 112
Table 167 Forecast Sales of Gum by Category: % Volume Growth 2018-2023 ....... 112
Table 168 Forecast Sales of Gum by Category: % Value Growth 2018-2023 .......... 113
Sugar Confectionery in India - Category analysis ..................................................................... 114
PACKAGED FOOD IN INDIA Passport IX
Headlines ................................................................................................................................. 114

Prospects ................................................................................................................................. 114
Active Promotions and New Flavours Drive Growth ............................................................. 114
Healthier Sugar Confectionery Launches Planned ............................................................... 114
Demographics and Demand Play An Important Role in Driving Sugar Confectionery Growth115
Perfetti Witnesses Declining Sales During the Review Period and in 2018 .......................... 115
New Product Launches See Significant Growth in Sugar Confectionery .............................. 115
Others Share Rises With Imitation Products Flooding Sugar Confectionery ........................ 115
Category Data .......................................................................................................................... 116
Table 169 Sales of Sugar Confectionery by Category: Volume 2013-2018 .............. 116
Table 170 Sales of Sugar Confectionery by Category: Value 2013-2018 ................. 116
Table 171 Sales of Sugar Confectionery by Category: % Volume Growth 2013-
2018 ......................................................................................................... 116
Table 172 Sales of Sugar Confectionery by Category: % Value Growth 2013-
2018 ......................................................................................................... 117
Table 173 Sales of Pastilles, Gums, Jellies and Chews by Type: % Value 2013-
2018 ......................................................................................................... 117
Table 174 NBO Company Shares of Sugar Confectionery: % Value 2014-2018 ...... 117
Table 175 LBN Brand Shares of Sugar Confectionery: % Value 2015-2018 ............ 118
Table 176 Distribution of Sugar Confectionery by Format: % Value 2013-2018 ....... 119
Table 177 Forecast Sales of Sugar Confectionery by Category: Volume 2018-
2023 ......................................................................................................... 120
Table 178 Forecast Sales of Sugar Confectionery by Category: Value 2018-
2023 ......................................................................................................... 120
Table 179 Forecast Sales of Sugar Confectionery by Category: % Volume
Growth 2018-2023 ................................................................................... 120
Table 180 Forecast Sales of Sugar Confectionery by Category: % Value Growth
2018-2023 ................................................................................................ 121
Ice Cream and Frozen Desserts in India - Category analysis................................................... 122
Headlines ................................................................................................................................. 122
Prospects ................................................................................................................................. 122
Soaring Temperatures Across India Drive Ice Cream........................................................... 122
Improvement in Cold Chain Facilities Supports Ice Cream Sales in India ............................ 122
Premium Ice Cream Is Flourishing in India ........................................................................... 123
Lotte Buys Havmor and Enters Ice Cream in India ............................................................... 123
Ice Cream Continues To Be Dominated by Domestic Companies ....................................... 123
Regional Dairy Cooperative Penetrates Rural Areas ............................................................ 123
Category Data .......................................................................................................................... 124
Table 181 Sales of Ice Cream and Frozen Desserts by Category: Volume 2013-
2018 ......................................................................................................... 124
Table 182 Sales of Ice Cream and Frozen Desserts by Category: Value 2013-
2018 ......................................................................................................... 124
Table 183 Sales of Ice Cream and Frozen Desserts by Category: % Volume
Growth 2013-2018 ................................................................................... 125
Table 184 Sales of Ice Cream and Frozen Desserts by Category: % Value
Growth 2013-2018 ................................................................................... 125
Table 185 Sales of Ice Cream by Leading Flavours: Rankings 2013-2018............... 126
PACKAGED FOOD IN INDIA Passport X
Table 186 NBO Company Shares of Ice Cream and Frozen Desserts: % Value
2014-2018 ................................................................................................ 126
Table 187 LBN Brand Shares of Ice Cream and Frozen Desserts: % Value
2015-2018 ................................................................................................ 126
Table 188 NBO Company Shares of Ice Cream: % Value 2014-2018 ...................... 127
Table 189 LBN Brand Shares of Ice Cream: % Value 2015-2018............................. 127
Table 190 NBO Company Shares of Impulse Ice Cream: % Value 2014-2018 ........ 128
Table 191 LBN Brand Shares of Impulse Ice Cream: % Value 2015-2018 ............... 129
Table 192 NBO Company Shares of Take-home Ice Cream: % Value 2014-2018 ... 129
Table 193 LBN Brand Shares of Take-home Ice Cream: % Value 2015-2018 ......... 130
Table 194 Distribution of Ice Cream and Frozen Desserts by Format: % Value
2013-2018 ................................................................................................ 130
Table 195 Distribution of Ice Cream by Format: % Value 2013-2018 ....................... 131
Table 196 Forecast Sales of Ice Cream and Frozen Desserts by Category:
Volume 2018-2023 ................................................................................... 131
Table 197 Forecast Sales of Ice Cream and Frozen Desserts by Category:
Value 2018-2023 ...................................................................................... 132
Table 198 Forecast Sales of Ice Cream and Frozen Desserts by Category: %
Volume Growth 2018-2023 ...................................................................... 133
Table 199 Forecast Sales of Ice Cream and Frozen Desserts by Category: %
Value Growth 2018-2023 ......................................................................... 133
Savoury Snacks in India - Category analysis ........................................................................... 134
Headlines ................................................................................................................................. 134
Prospects ................................................................................................................................. 134
Regional Flavours To Be the Key Growth Engine for Savoury Snacks................................. 134
Gst Provides An Impetus for Snacks Manufacturers ............................................................ 134
Healthy Snacks Will Influence Product Development ........................................................... 134
Haldiram Foods International Ltd To Continue Dominating Savoury Snacks in Value Sales 135
PepsiCo India Holdings Will Continue Challenging Regional Snacks Manufacturers ........... 135
Growth of Regional Manufacturers ....................................................................................... 135
Summary 2 Other Savoury Snacks by Product Type: ................................................. 136
Category Data .......................................................................................................................... 136
Table 200 Sales of Savoury Snacks by Category: Volume 2013-2018 ..................... 136
Table 201 Sales of Savoury Snacks by Category: Value 2013-2018 ........................ 136
Table 202 Sales of Savoury Snacks by Category: % Volume Growth 2013-2018 .... 137
Table 203 Sales of Savoury Snacks by Category: % Value Growth 2013-2018 ....... 137
Table 204 NBO Company Shares of Savoury Snacks: % Value 2014-2018 ............. 137
Table 205 LBN Brand Shares of Savoury Snacks: % Value 2015-2018 ................... 138
Table 206 Distribution of Savoury Snacks by Format: % Value 2013-2018 .............. 139
Table 207 Forecast Sales of Savoury Snacks by Category: Volume 2018-2023 ...... 140
Table 208 Forecast Sales of Savoury Snacks by Category: Value 2018-2023 ......... 140
Table 209 Forecast Sales of Savoury Snacks by Category: % Volume Growth
2018-2023 ................................................................................................ 140
Table 210 Forecast Sales of Savoury Snacks by Category: % Value Growth
2018-2023 ................................................................................................ 141
Sweet Biscuits, Snack Bars and Fruit Snacks in India - Category analysis .............................. 142
Headlines ................................................................................................................................. 142
PACKAGED FOOD IN INDIA Passport XI
Prospects ................................................................................................................................. 142

Retail Unit Prices Rise Due To Revision of Tax Rates With the Introduction of Gst ............. 142
Super Food Concept Enters Snacks, Creates Demand for Healthy Snacks ......................... 142
Stronger Growth Forecast Due To Premiumisation Within Sweet Biscuits ........................... 143
Premium Offerings Initiated by Sweet Biscuit Manufacturers ............................................... 143
Healthy Living Trend Drives Snack Manufacturers To Focus on Healthy Snacks ................ 143
Future Consumer Enterprises Ltd Rapidly Expanding in Snacks ......................................... 144
Category Data .......................................................................................................................... 144
Table 211 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category:
Volume 2013-2018 ................................................................................... 144
Table 212 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category:
Value 2013-2018 ...................................................................................... 144
Table 213 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: %
Volume Growth 2013-2018 ...................................................................... 145
Value Growth 2013-2018 ......................................................................... 145
Table 215 NBO Company Shares of Sweet Biscuits, Snack Bars and Fruit
Snacks: % Value 2014-2018 .................................................................... 146
Table 216 LBN Brand Shares of Sweet Biscuits, Snack Bars and Fruit Snacks:
% Value 2015-2018.................................................................................. 146
Table 217 NBO Company Shares of Sweet Biscuits: % Value 2014-2018 ............... 147
Table 218 LBN Brand Shares of Sweet Biscuits: % Value 2015-2018 ...................... 148
Table 219 NBO Company Shares of Snack Bars: % Value 2014-2018 .................... 148
Table 220 LBN Brand Shares of Snack Bars: % Value 2015-2018 ........................... 149
Table 221 NBO Company Shares of Fruit Snacks: % Value 2014-2018................... 149
Table 222 LBN Brand Shares of Fruit Snacks: % Value 2015-2018 ......................... 149
Table 223 Distribution of Sweet Biscuits, Snack Bars and Fruit Snacks by
Format: % Value 2013-2018 .................................................................... 150
Table 224 Distribution of Sweet Biscuits by Format: % Value 2013-2018 ................. 150
Table 225 Distribution of Snack Bars by Format: % Value 2013-2018...................... 151
Table 226 Distribution of Fruit Snacks by Format: % Value 2013-2018 .................... 151
Table 227 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by
Category: Volume 2018-2023 .................................................................. 152
Category: Value 2018-2023 ..................................................................... 153
Category: % Volume Growth 2018-2023.................................................. 153
Category: % Value Growth 2018-2023..................................................... 153
Baked Goods in India - Category analysis................................................................................ 155
Headlines ................................................................................................................................. 155
Prospects ................................................................................................................................. 155
Baked Goods Prices Revised Downwards Due To New Gst ................................................ 155
Packaged Flat Bread Sales Rise Due To Convenience and Affordability ............................. 155
More Product Options for Consumers in Dessert Mixes Promote Sales............................... 156
Artisanal Companies Still Hold Maximum Sales Share in Baked Goods .............................. 156
International and Traditional Product Launches Boost Sales ............................................... 156
PACKAGED FOOD IN INDIA Passport XII
Shift Towards Packaged Food Continues............................................................................. 157

Category Data .......................................................................................................................... 157
Table 231 Sales of Baked Goods by Category: Volume 2013-2018 ......................... 157
Table 232 Sales of Baked Goods by Category: Value 2013-2018 ............................ 157
Table 233 Sales of Baked Goods by Category: % Volume Growth 2013-2018 ........ 158
Table 234 Sales of Baked Goods by Category: % Value Growth 2013-2018 ........... 158
Table 235 Sales of Pastries by Type: % Value 2013-2018 ....................................... 159
Table 236 NBO Company Shares of Baked Goods: % Value 2014-2018 ................. 159
Table 237 LBN Brand Shares of Baked Goods: % Value 2015-2018 ....................... 160
Table 238 Distribution of Baked Goods by Format: % Value 2013-2018 .................. 160
Table 239 Forecast Sales of Baked Goods by Category: Volume 2018-2023 .......... 161
Table 240 Forecast Sales of Baked Goods by Category: Value 2018-2023 ............. 161
Table 241 Forecast Sales of Baked Goods by Category: % Volume Growth
2018-2023 ................................................................................................ 162
Table 242 Forecast Sales of Baked Goods by Category: % Value Growth 2018-
2023 ......................................................................................................... 162
Breakfast Cereals in India - Category analysis ......................................................................... 164
Headlines ................................................................................................................................. 164
Prospects ................................................................................................................................. 164
Breakfast Cereals Increasingly Consumed Throughout the Day .......................................... 164
High Unit Price Hikes Curbed Due To Gst ............................................................................ 164
Traditional Breakfast Cereals Face Intense Competition From Oat-based Cereals ............. 164
Kellogg India Continues To Lead Breakfast Cereals ............................................................ 165
Targeting Health Conscious Consumers .............................................................................. 165
Nestlé India Enters Breakfast Cereals With Nesplus Brand ................................................. 165
Category Data .......................................................................................................................... 165
Table 243 Sales of Breakfast Cereals by Category: Volume 2013-2018 .................. 165
Table 244 Sales of Breakfast Cereals by Category: Value 2013-2018 ..................... 166
Table 245 Sales of Breakfast Cereals by Category: % Volume Growth 2013-
2018 ......................................................................................................... 166
Table 246 Sales of Breakfast Cereals by Category: % Value Growth 2013-2018 ..... 166
Table 247 NBO Company Shares of Breakfast Cereals: % Value 2014-2018 .......... 166
Table 248 LBN Brand Shares of Breakfast Cereals: % Value 2015-2018................. 167
Table 249 Distribution of Breakfast Cereals by Format: % Value 2013-2018 ........... 168
Table 250 Forecast Sales of Breakfast Cereals by Category: Volume 2018-2023.... 168
Table 251 Forecast Sales of Breakfast Cereals by Category: Value 2018-2023 ...... 169
Table 252 Forecast Sales of Breakfast Cereals by Category: % Volume Growth
2018-2023 ................................................................................................ 169
Table 253 Forecast Sales of Breakfast Cereals by Category: % Value Growth
2018-2023 ................................................................................................ 169
Processed Fruit and Vegetables in India - Category analysis .................................................. 170
Headlines ................................................................................................................................. 170
Prospects ................................................................................................................................. 170
Consumers Experimenting With Shelf Stable Fruit and Vegetables ..................................... 170
Frozen Potatoes Sales Rise While Vegetables Sales Remain Flat ...................................... 170
Rising Demand Among Foodservice Players ....................................................................... 171
PACKAGED FOOD IN INDIA Passport XIII
Mccain Food India Leads the Way Within Processed Fruit and Vegetables ......................... 171
Growing Competition From Domestic Players ...................................................................... 171
Smaller Players Post Faster Growth in Processed Fruit and Vegetables ............................. 171
Category Data .......................................................................................................................... 171
Table 254 Sales of Processed Fruit and Vegetables by Category: Volume 2013-
2018 ......................................................................................................... 171
Table 255 Sales of Processed Fruit and Vegetables by Category: Value 2013-
2018 ......................................................................................................... 172
Table 256 Sales of Processed Fruit and Vegetables by Category: % Volume
Growth 2013-2018 ................................................................................... 172
Table 257 Sales of Processed Fruit and Vegetables by Category: % Value
Growth 2013-2018 ................................................................................... 172
Table 258 Sales of Frozen Processed Vegetables by Type: % Value Breakdown
2013-2018 ................................................................................................ 173
Table 259 NBO Company Shares of Processed Fruit and Vegetables: % Value
2014-2018 ................................................................................................ 173
Table 260 LBN Brand Shares of Processed Fruit and Vegetables: % Value
2015-2018 ................................................................................................ 174
Table 261 Distribution of Processed Fruit and Vegetables by Format: % Value
2013-2018 ................................................................................................ 174
Table 262 Forecast Sales of Processed Fruit and Vegetables by Category:
Volume 2018-2023 ................................................................................... 175
Table 263 Forecast Sales of Processed Fruit and Vegetables by Category:
Value 2018-2023 ...................................................................................... 175
Table 264 Forecast Sales of Processed Fruit and Vegetables by Category: %
Volume Growth 2018-2023 ...................................................................... 176
Table 265 Forecast Sales of Processed Fruit and Vegetables by Category: %
Value Growth 2018-2023 ......................................................................... 176
Processed Meat and Seafood in India - Category analysis ...................................................... 178
Headlines ................................................................................................................................. 178
Prospects ................................................................................................................................. 178
Frozen Processed Red Meat Sales Remain Limited ............................................................ 178
Frozen Processed Seafood Continues To Gain Popularity ................................................... 178
Rising Health Consciousness and Demand for Convenience Fuelling Sales ....................... 179
Godrej Tyson Food Continues To Lead Sales ...................................................................... 179
Wide Product Offering Key To Success ................................................................................ 179
Venky’s India Increases Sales Share in Processed Meat and Seafood ................................ 179
Category Data .......................................................................................................................... 179
Table 266 Sales of Processed Meat and Seafood by Category: Volume 2013-
2018 ......................................................................................................... 179
Table 267 Sales of Processed Meat and Seafood by Category: Value 2013-2018 ... 180
Table 268 Sales of Processed Meat and Seafood by Category: % Volume
Growth 2013-2018 ................................................................................... 181
Table 269 Sales of Processed Meat and Seafood by Category: % Value Growth
2013-2018 ................................................................................................ 181
Table 270 Sales of Frozen Processed Red Meat by Type: % Volume Breakdown
2013-2018 ................................................................................................ 182
PACKAGED FOOD IN INDIA Passport XIV
Table 271 Sales of Frozen Processed Poultry by Type: % Value Breakdown

2013-2018 ................................................................................................ 182
Table 272 Sales of Frozen Processed Seafood by Type: % Value Breakdown
2013-2018 ................................................................................................ 182
Table 273 NBO Company Shares of Processed Meat and Seafood: % Value
2014-2018 ................................................................................................ 183
Table 274 LBN Brand Shares of Processed Meat and Seafood: % Value 2015-
2018 ......................................................................................................... 183
Table 275 Distribution of Processed Meat and Seafood by Format: % Value
2013-2018 ................................................................................................ 183
Table 276 Forecast Sales of Processed Meat and Seafood by Category: Volume
2018-2023 ................................................................................................ 184
Table 277 Forecast Sales of Processed Meat and Seafood by Category: Value
2018-2023 ................................................................................................ 185
Table 278 Forecast Sales of Processed Meat and Seafood by Category: %
Volume Growth 2018-2023 ...................................................................... 185
Table 279 Forecast Sales of Processed Meat and Seafood by Category: %
Value Growth 2018-2023 ......................................................................... 186
Rice, Pasta and Noodles in India - Category analysis .............................................................. 187
Headlines ................................................................................................................................. 187
Prospects ................................................................................................................................. 187
Focus on Flavours and Promotion Boosts Noodles Sales .................................................... 187
Pasta Becoming More and More Common in Indian Households ........................................ 187
New Gst Supports Rice Value Sales .................................................................................... 188
Nestlé India Continues To Increase Sales Share in Noodles ............................................... 188
Bambino Agro Industries Challenges International Brands in Pasta ..................................... 188
Krbl Gains Sales Share in Rice ............................................................................................ 188
Category Data .......................................................................................................................... 189
Table 280 Sales of Rice, Pasta and Noodles by Category: Volume 2013-2018 ....... 189
Table 281 Sales of Rice, Pasta and Noodles by Category: Value 2013-2018 .......... 189
Table 282 Sales of Rice, Pasta and Noodles by Category: % Volume Growth
2013-2018 ................................................................................................ 189
Table 283 Sales of Rice, Pasta and Noodles by Category: % Value Growth
2013-2018 ................................................................................................ 190
Table 284 Sales of Instant Noodles by Leading Flavours: Rankings 2013-2018 ...... 190
Table 285 NBO Company Shares of Rice, Pasta and Noodles: % Value 2014-
2018 ......................................................................................................... 190
Table 286 LBN Brand Shares of Rice, Pasta and Noodles: % Value 2015-2018 ...... 191
Table 287 NBO Company Shares of Rice: % Value 2014-2018 ............................... 192
Table 288 LBN Brand Shares of Rice: % Value 2015-2018 ...................................... 193
Table 289 NBO Company Shares of Pasta: % Value 2014-2018 ............................. 193
Table 290 LBN Brand Shares of Pasta: % Value 2015-2018 .................................... 194
Table 291 NBO Company Shares of Noodles: % Value 2014-2018 ......................... 195
Table 292 LBN Brand Shares of Noodles: % Value 2015-2018 ................................ 195
Table 293 Distribution of Rice, Pasta and Noodles by Format: % Value 2013-
2018 ......................................................................................................... 196
Table 294 Distribution of Rice by Format: % Value 2013-2018 ................................. 196
Table 295 Distribution of Pasta by Format: % Value 2013-2018 ............................... 197
PACKAGED FOOD IN INDIA Passport XV
Table 296 Distribution of Noodles by Format: % Value 2013-2018 ........................... 198

Table 297 Forecast Sales of Rice, Pasta and Noodles by Category: Volume
2018-2023 ................................................................................................ 198
Table 298 Forecast Sales of Rice, Pasta and Noodles by Category: Value 2018-
2023 ......................................................................................................... 199
Table 299 Forecast Sales of Rice, Pasta and Noodles by Category: % Volume
Growth 2018-2023 ................................................................................... 199
Table 300 Forecast Sales of Rice, Pasta and Noodles by Category: % Value
Growth 2018-2023 ................................................................................... 199
PACKAGED FOOD IN INDIA Passport 1
PACKAGED FOOD IN INDIA -

INDUSTRY OVERVIEW
EXECUTIVE SUMMARY
Strong Double-digit Growth for Packaged Food

Edible oils and dairy products and alternatives provided strong tailwinds for overall packaged
food in India, ensuring strong double-digit growth in 2018. Shifting from unbranded to branded
packaged products was the clear highlight of the year, amid rising awareness of healthy living.
Packaged food witnessed some high-value events in 2018. Adani Group received the green
light to acquire Ruchi Soya, the leader in edible oils, enabling it to consolidate its position in the
market. Dairy witnessed a multi-million investment from Britannia Industries and private equity
firms, such as KKR & Co and Cargill Ventures, to improve operational and production
capabilities, such as establishing new manufacturing and processing plants by smaller players
in India. Premiumisation was another key highlight, with Indians migrating to premium milk and
healthy edible oils, such as blended oils and olive oil. Snacks witnessed regional companies
such as Balaji Wafers expand nationally, challenging the positions of national players, such as
PepsiCo India and ITC.
With a population of 1.3 billion, packaged food is a mature market in India, albeit with
significant room for new players to enter and perform well.
Smaller Pack Sizes Become Increasingly Popular Due To Healthy Living

Chocolate confectionery, sweet biscuits, snack bars, savoury snacks, spreads, sauces,
dressings and condiments, baby food and baked goods were among the top performers,
resulting in double-digit value growth in 2018. Products such as dairy, edible oils, rice, pasta and
noodles, among others, also performed well, continuing their growth trajectories from 2017. The
primary growth drivers in packaged food were an increased focus on healthier snacks, mainly
attributed to the growth in consumption volumes due to improvements in macroeconomic
factors. While consumers are interested in indulgence, they are also conscious about calorie
intake with every bite, which drove sales of smaller pack sizes of packaged food.
Manufacturers are taking their cues from these trends towards consumption of smaller
portions and are introducing products specially designed for one-time consumption, whilst
bearing in mind two important factors: the taste and price of the product. Pillsbury Cookie Cake,
Cadbury Bourbon and Lays are some of the many products which were popular as small bite-
size snacks in 2018. Interestingly, all these products are available in most retail outlets and
priced in the range of INR5.00-10.00. The forecast period is expected to witness more small
pack sizes being introduced, with players such as Britannia Industries, Haldiram Food India and
ITC already having products in the pipeline for 2019.
Competition Intensifies As Manufacturers Fight To Retain Or Gain Share

The year 2018 witnessed many new product launches and new entrants in packaged food.
Despite intensifying competition between packaged versus unpackaged products, global versus
domestic companies and existing players versus new entrants, all companies followed one
common goal of retaining and gaining share in the packaged food landscape. Companies
introduced an average of two new products in 2018, most of which were international products.
The driving factor for manufacturers to enter a new category or launch a new product was the
strong performance of packaged food over the latter part of the review period, which continued
into 2018. While leading players characterised packaged food in 2018, they are losing share to
smaller players, artisanal and private label companies.
In addition, many larger companies such as Nestlé, ConAgra Food and Mars India launched
new packaged food categories in India, while smaller companies, including FirmRoots,
Wholsum Food and many others, extended their ranges of packaged food for Indian consumers
in 2018.
Modern Grocery Retailers Slowly Gaining Share From Traditional

Grocery Retailers
Independent small grocers remained the largest and the most preferred channel of distribution
in 2018, although the channel is expected to record a declining share over the forecast period.
Hectic lifestyles and time constraints among the working population in urban regions are leading
many to shop either online or in hypermarkets and supermarkets.
E-commerce platforms and hypermarkets and supermarkets have considerable advantages
over independent small grocers as they have a huge product inventory and can enhance the
shopping experience.
Another reason for the popularity of online and modern grocery retailers is their ability to run
promotional campaigns, such as reward points, offers and deep discounts, attracting greater
footfall.
However, for products with short shelf lives, such as fresh milk, Indians still prefer
independent small grocers. Modern grocery retailers enjoy high levels of popularity in cities such
as Delhi, Bangalore, Mumbai and other major metros. Independent small grocers in these cities
are expanding their store size in order to compete with modern grocery retailers.
Significant Opportunities for Packaged Food in the Forecast Period

The Indian packaged food market is expected to continue its strong growth up to 2023,
supported by consumers shifting from unpackaged to packaged food and the entry of a large
number of new players. Packaged food companies are focusing on solving distribution
challenges, conducting promotional activities and most importantly giving more weight to health
and wellness products. The retail landscape in rural regions is developing, with large retailers
such as Future Group opening supermarkets in tier-two and -three cities to cater to the nearby
regions. Government support in establishing infrastructure facilities, such as cold storage, rural
electrification and the internet will likely further drive the accessibility to packaged foods, even in
the remotest corners of India.
Though consumers are brand conscious, during the forecast period this is expected to
diminish as more international and local companies begin to sell packaged food. This creates
more options for consumers and the increase in education levels and the usage of social media
will encourage consumers to choose the right product for their needs and give less importance
to brands. Overall packaged food is set to record strong growth, which would be beneficial to all
stakeholders involved during the forecast period.
FOODSERVICE
Sales To Foodservice
Cheese reshapes the landscape for foodservice companies in India

With the increased adoption of Western foods, such as burgers, pizza and pasta, demand for
cheese is rapidly rising in foodservice in India. The growing number of fast food outlets, such as
KFC, McDonald's, Pizza Hut, Burger King and Dominos, even in tier-two cities, is driving the
consumption of Western food items, in which cheese forms an important ingredient.
However, not limited to Western food items, cheese is also being adapted to Indian dishes,
with even Indian restaurants using cheese. For instance, hotels use cheese as a flavour and
texture enhancer, while making parathas, naan, kulcha, toast, bread, and pakoras, for example.
Bearing consumer tastes and preferences in mind, foodservice outlets such as Dominos and
Pizza Hut have begun to use different flavours of cheese, such as spicy pepper, masala and
mint, for pizza. Premium restaurants and hotels use premium varieties of cheese in their food
items. This has also led to the growth of cheese producers across India, with expertise in
making European artisanal flavours, such as Montasio, Edam, Feta, two kinds of Gouda, plain
and pepper and a Camembert-style cheese.
Rising café culture and increasing number of takeaway outlets boosts milk and value-added
dairy products
Cafés significantly increased their presence in India over the review period. The majority of
menus include milk and milk-based products as key ingredients. Companies such as Café
Coffee Day and Starbucks offer non-alcoholic beverages such as shakes and smoothies, which
are increasingly popular among consumers. These companies also offer premium varieties of
hot and cold coffee, which not only use milk or ice cream, but also syrup and cream, hence
driving demand for these products in foodservice.
The growing number of takeaways, such as Keventers, offering premium varieties of
milkshake, is also contributing to demand. These chains have announced plans to open new
stores in the country. Riding on this popularity, even cities such as Bengaluru have witnessed
growth in local takeaways, such as XO Belgian Waffle, which also offers premium varieties of
dairy products.
The increasing popularity and growing number of outlets of cafés, both large and small,
across the country will likely drive consumption of milk and milk-based products in foodservice
over the forecast period.
Pasta sauces, mayonnaise and salad dressings remain popular

Pasta sauces, mayonnaise and salad dressings continued to record strong growth in 2018.
Demand was generated by the growing number of eateries in the country, which continue to
offer a range of local and Western food items. The majority of menus include pasta and salads,
which drives demand for these products.
Foodservice outlets located in metro areas and tier-one cities will likely continue to rely on
these items to enhance their food menu over the forecast period, supporting foodservice volume
growth.
In a recently concluded food conference held in Mumbai in September 2018, Dr Oetker
highlighted that it would be launching a new product portfolio targeting foodservice outlets, with
improved packaging, better shelf life and greater volume.
CONSUMER FOODSERVICE
Health and Wellness Influences Consumer Foodservice in Urban

Regions
The health and wellness trend within packaged food is seeping into consumer foodservice
with the blossoming concept of healthy dining. Salad shops, organic specialists and hotels with
visible kitchens are some of the growing trends in metro areas. Apart from providing a
memorable dining experience, they provide information on the ingredients used, the cooking
process and the calorie contents of each dish. One such outlet is SaladsPoint in New Delhi
where the salads make use of Greek yoghurt, low calorie cheese and fresh vegetables.
However, many popular consumer foodservice outlets across India also offer health and
wellness food on their menus, catering to a diversified group of consumers who are health
conscious and follow a strict diet every day.
These foodservice outlets will likely demand more health and wellness products from
packaged food manufacturers in bulk volumes during the forecast period. Currently the leading
foodservice packaged food companies such as FieldFresh Foods and Funfoods India are
focusing on catering to consumer foodservice outlets, although the growing demand will likely
attract many new entrants over the forecast period.
Affordability Coupled With Desire for Experience Drives Consumer

Foodservice
Consumer foodservice is largely driven by the growing affordability of these outlets for all
classes of consumer. Interestingly, the dining experience has changed over the years, not only
in the popularity of international cuisines, but also in terms of innovation in traditional menus.
International consumer foodservice outlets are adapting to the Indian palate by redesigning the
way food is offered to consumers. Pastas with traditional Indian seasonings, burgers and hot
dogs with samosa and potato patty filings are some examples of the Indianisation of
international food. All of this is offered at affordable prices to attract consumers from a wide
range of social classes.
In order to maintain the affordability of dishes and to provide a memorable dining experience,
consumer foodservice outlets source their ingredients from local packaged food manufacturers.
Popular ingredients include ketchup, yoghurt, cheese, edible oils, pasta, rice and dairy, to name
a few. Outlets collaborate with food apps such as FoodPanda, Swiggy, Zomato and CureFit to
cater to the instant food cravings of consumers, especially in metro areas. During the forecast
period, consumption through both offline and online ordering will significantly contribute to the
growth of consumer foodservice in India.
Retailers and Consumer Foodservice Operators Explore and Enter

Each Other’s Space
Packaged food is a valuable opportunity for both retailers and consumer foodservice outlets.
However, both channels are exploring opportunities to move into the other’s space. Consumer
foodservice player, Theobroma Foods, which specialises in baked goods, including breads,
cakes, pastries and other products, is offering its range of mayonnaise and spreads in the retail
channel. Similarly, retailers such as MTR Food India and Haldiram’s Foods, which offer an array
of savoury snacks and sauces, dressings and condiments, are expanding their consumer
foodservices outlets across India. Both consumer foodservice operators and retailers use and
offer their packaged food products in their own foodservice outlets whilst also selling them in
their retail venues.
This crossover between retail and consumer foodservice depends on expertise and entry into
each other’s space is limited to the larger companies in India. However, small consumer
foodservice start-ups across India are venturing into the retail channel more frequently than
retailers entering consumer foodservice.
CATEGORY DATA
Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Packaged Food 5,793.1 6,200.1 6,671.7 7,150.7 7,685.7 8,171.7

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-

2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Packaged Food 6.3 7.1 41.1

Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-

2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Packaged Food 8,171.7 8,655.4 9,119.2 9,555.7 9,959.3 10,388.9

Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume

Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

trade sources
MARKET DATA
Table 5 Sales of Packaged Food by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Packaged Food 27,750.4 30,211.1 32,938.8 36,131.5 39,845.6 43,933.0

Table 6 Sales of Packaged Food by Category: Value 2013-2018
INR bn
2013 2014 2015 2016 2017 2018
Packaged Food 2,210.6 2,618.7 3,071.1 3,644.4 4,328.8 5,091.7

Table 7 Sales of Packaged Food by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total

Table 8 Sales of Packaged Food by Category: % Value Growth 2013-2018
% current value growth

2017/18 2013-18 CAGR 2013/18 Total

Table 9 GBO Company Shares of Packaged Food: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Gujarat Co-operative 5.8 5.8 5.7 5.6 5.5

Milk Marketing
Federation Ltd
National Dairy 3.4 3.4 3.3 3.1 3.0
Development Board
Karnataka Cooperative 2.3 2.3 2.3 2.3 2.4
Milk Producers
Federation Ltd
Britannia Industries Ltd 3.2 3.0 2.7 2.5 2.4
Adani Group 1.8 1.9 2.2 2.4 2.3
Nestlé SA 3.2 2.2 2.3 2.3 2.2
Parle Products Pvt Ltd 2.8 2.6 2.4 2.3 2.1
ITC Group 2.0 2.2 2.1 2.0 1.9
Emami Ltd 1.6 1.6 1.7 1.7 1.8
Ruchi Group 3.0 2.8 2.6 2.4 1.7
Mondelez International 2.4 2.2 2.0 1.8 1.7

Inc
Tamil Nadu Cooperative 1.7 1.6 1.5 1.5 1.4
Milk Producers
Federation Ltd
Hatsun Agro Products Ltd 1.0 1.0 1.0 0.9 1.0
Marico Ltd 1.2 1.1 1.1 1.0 1.0
Cargill Inc 1.5 1.4 1.1 0.9 0.9
Andhra Pradesh Dairy 0.9 0.9 0.9 0.8 0.8
Development Cooperative
Federation Ltd
Haldiram Foods 0.9 0.9 0.8 0.8 0.8
International Ltd
Kaleesuwari Refinery 0.9 0.8 0.8 0.8 0.8
Pvt Ltd
Rajasthan Co-operative 0.8 0.8 0.7 0.7 0.7
Dairy Federation Ltd
Maharashtra Rajya 0.8 0.8 0.7 0.7 0.7
Sahakari Dudh Mahasangh
Maryadit
Kerala Cooperative Milk 0.8 0.7 0.7 0.7 0.7
Marketing Federation Ltd
KRBL Ltd 0.7 0.7 0.5 0.5 0.6
Punjab State 0.6 0.6 0.6 0.6 0.6
Cooperative Milk
Producers Federation
Ltd, The
Lactalis, Groupe 0.8 0.7 0.7 0.6 0.5
PepsiCo Inc 0.9 0.8 0.7 0.6 0.5
Balaji Wafers Pvt Ltd 0.5 0.5 0.5 0.5 0.5
Patanjali Ayurved Ltd 0.4 0.6 0.5 0.5 0.5
Unilever Group 0.7 0.7 0.5 0.5 0.5
S Narendrakumar & Co 0.5 0.5 0.5 0.5 0.5
DS Group 0.1 0.2 0.2 0.3 0.4
Artisanal 2.1 1.9 1.8 1.6 1.5
Private Label 0.5 0.5 0.5 0.5 0.5
Others 50.4 52.2 54.3 56.0 57.6
Total 100.0 100.0 100.0 100.0 100.0
Table 10 NBO Company Shares of Packaged Food: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Mother Dairy Fruit & 3.4 3.4 3.3 3.1 3.0
Vegetable Pvt Ltd
Milk Producers
Federation Ltd
Adani Group 1.8 1.9 2.2 2.4 2.3
Nestlé India Ltd 3.2 2.2 2.3 2.3 2.2
ITC Ltd 2.0 2.2 2.1 2.0 1.9
Emami Ltd 1.6 1.6 1.7 1.7 1.8

Ruchi Soya Industries Ltd 3.0 2.8 2.6 2.4 1.7
Mondelez India Foods 2.4 2.2 2.0 1.8 1.7
Pvt Ltd
Milk Producers
Federation Ltd
Marico Ltd 1.2 1.1 1.1 1.0 1.0
Cargill India Pvt Ltd 1.5 1.4 1.1 0.9 0.9
Federation Ltd
Haldiram Foods 0.9 0.9 0.8 0.8 0.8
International Ltd
Pvt Ltd
Maryadit
KRBL Ltd 0.7 0.7 0.5 0.5 0.6
Punjab State 0.6 0.6 0.6 0.6 0.6
Cooperative Milk
Ltd, The
PepsiCo India Holdings 0.9 0.8 0.7 0.6 0.5
Pvt Ltd
Hindustan Unilever Ltd 0.7 0.7 0.5 0.5 0.5
DS Group 0.1 0.2 0.2 0.3 0.4
Heritage Foods Ltd 0.5 0.5 0.4 0.4 0.4
Artisanal 2.1 1.9 1.8 1.6 1.5
Other Private Label 0.4 0.3 0.4 0.4 0.4
Others 51.0 52.7 54.7 56.3 57.9
Total 100.0 100.0 100.0 100.0 100.0
Table 11 LBN Brand Shares of Packaged Food: % Value 2015-2018
% retail value rsp

Brand (GBO) Company (NBO) 2015 2016 2017 2018
Amul Gujarat Co-operative 5.4 5.3 5.3 5.2

Milk Marketing
Federation Ltd
Mother Dairy Mother Dairy Fruit & 2.6 2.5 2.4 2.3
(National Dairy Vegetable Pvt Ltd
Development Board)
Britannia Britannia Industries Ltd 2.9 2.7 2.4 2.3
Fortune Adani Group 1.8 2.1 2.3 2.3
Parle Parle Products Pvt Ltd 2.2 2.1 1.9 1.8
Healhty & Tasty Emami Ltd 1.6 1.7 1.7 1.8
Nandini Toned Milk Karnataka Cooperative 1.5 1.4 1.4 1.4

Milk Producers
Federation Ltd
Aavin Tamil Nadu Cooperative 1.6 1.5 1.5 1.4
Milk Producers
Federation Ltd
Sunfeast (ITC Group) ITC Ltd 1.4 1.3 1.3 1.2
Ruchi (Ruchi Group) Ruchi Soya Industries Ltd 1.6 1.5 1.4 1.0
Nandini Karnataka Cooperative 0.9 0.9 0.9 1.0
Milk Producers
Federation Ltd
Saffola Marico Ltd 1.1 1.1 1.0 1.0
Vijaya Andhra Pradesh Dairy 0.9 0.9 0.8 0.8
Federation Ltd
Gold Winner Kaleesuwari Refinery 0.8 0.8 0.8 0.8
Pvt Ltd
Cadbury Dairy Milk Mondelez India Foods 1.0 0.9 0.8 0.7
(Mondelez Pvt Ltd
International Inc)
Maggi (Nestlé SA) Nestlé India Ltd 0.5 0.7 0.7 0.7
Saras Rajasthan Co-operative 0.8 0.7 0.7 0.7
Mahanand Maharashtra Rajya 0.8 0.7 0.7 0.7
Maryadit
Haldiram's Haldiram Foods 0.8 0.7 0.7 0.7
International Ltd
Mahakosh (Ruchi Ruchi Soya Industries Ltd 1.0 0.9 0.8 0.6
Group)
Verka Punjab State 0.6 0.6 0.6 0.6
Cooperative Milk
Ltd, The
Balaji Balaji Wafers Pvt Ltd 0.5 0.5 0.5 0.5
Milma Toned Kerala Cooperative Milk 0.6 0.5 0.5 0.5
Everest S Narendrakumar & Co 0.5 0.5 0.5 0.5
Gemini (Cargill Inc) Cargill India Pvt Ltd 0.7 0.6 0.5 0.5
India Gate KRBL Ltd 0.5 0.4 0.4 0.4
Patanjali Patanjali Ayurved Ltd 0.4 0.4 0.4 0.4
Bingo! (ITC Group) ITC Ltd 0.4 0.4 0.4 0.4
Heritage Heritage Foods Ltd 0.5 0.4 0.4 0.4
Tirumala Lactalis, Groupe 0.6 0.5 0.4 0.4
Raindrops REI Agro Ltd 0.5 0.0 - -
Artisanal Artisanal 1.9 1.8 1.6 1.5
Other Private Label Other Private Label 0.3 0.4 0.4 0.4
(Private Label)
Others Others 60.9 62.7 63.9 65.4
Total Total 100.0 100.0 100.0 100.0
Table 12 Penetration of Private Label by Category: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Packaged Food 0.5 0.5 0.5 0.5 0.5 0.5
Table 13 Distribution of Packaged Food by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Store-Based Retailing 100.0 100.0 100.0 99.8 99.7 99.7

- Grocery Retailers 98.9 98.9 98.9 98.8 98.8 98.8
-- Modern Grocery 8.5 8.8 8.9 9.2 9.4 9.5
Retailers
--- Convenience Stores 0.4 0.4 0.4 0.4 0.4 0.4
--- Discounters - - - - - -
--- Forecourt Retailers 0.1 0.1 0.1 0.1 0.1 0.1
--- Hypermarkets 4.2 4.4 4.5 4.7 4.8 4.9
--- Supermarkets 3.8 3.9 3.9 4.0 4.0 4.1
-- Traditional Grocery 90.4 90.1 90.0 89.6 89.5 89.3
Retailers
--- Food/drink/tobacco 5.4 5.2 5.1 4.9 4.9 4.8
specialists
--- Independent Small 61.9 62.2 62.4 62.7 62.9 63.2
Grocers
--- Other Grocery 23.0 22.7 22.6 22.0 21.6 21.3
Retailers
- Non-Grocery Specialists 1.1 1.1 1.0 1.0 0.9 0.9
-- Health and Beauty 0.8 0.8 0.8 0.7 0.7 0.7
Specialist Retailers
-- Other Foods Non- 0.3 0.2 0.2 0.2 0.2 0.2
Grocery Specialists
- Mixed Retailers - - - - - -
Non-Store Retailing 0.0 0.0 0.0 0.2 0.2 0.3
- Vending - - - - - -
- Homeshopping - - - - - -
- Internet Retailing 0.0 0.0 0.0 0.2 0.2 0.3
- Direct Selling - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 14 Distribution of Packaged Food by Format and Category: % Value 2018
% retail value rsp

EO RM SDC SOU SSP BF

-- Modern Grocery 7.0 22.5 13.1 27.5 11.6 10.3
Retailers
--- Discounters 0.0 0.0 0.0 0.0 0.0 0.0
--- Hypermarkets 3.7 15.5 5.8 16.3 5.4 2.6
--- Supermarkets 3.3 6.7 5.6 11.1 5.2 6.8
Retailers
specialists
Grocers
--- Other Grocery 4.5 0.0 2.8 0.0 3.3 0.0
Retailers
-- Other Foods Non- 0.0 0.0 0.0 0.0 0.0 0.0
Grocery Specialists
- Mixed Retailers 0.0 0.0 0.0 0.0 0.0 0.0
- Vending 0.0 0.0 0.0 0.0 0.0 0.0
- Homeshopping 0.0 0.0 0.0 0.0 0.0 0.0
- Direct Selling 0.0 0.0 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
DY CF ICF SS SSF BG

-- Modern Grocery 6.4 11.7 13.1 16.3 9.8 9.4
Retailers
--- Discounters 0.0 0.0 0.0 0.0 0.0 0.0
--- Hypermarkets 3.4 5.2 6.5 7.5 4.9 5.5
--- Supermarkets 2.9 5.8 5.4 5.3 4.3 3.6
Retailers
specialists
Grocers
--- Other Grocery 65.3 7.3 1.5 13.5 7.3 1.3
Retailers
-- Other Foods Non- 0.0 0.0 0.0 0.0 0.0 0.0
Grocery Specialists
- Mixed Retailers 0.0 0.0 0.0 0.0 0.0 0.0
- Vending 0.0 0.0 0.0 0.0 0.0 0.0
- Homeshopping 0.0 0.0 0.0 0.0 0.0 0.0
- Direct Selling 0.0 0.0 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
BC PFV PMS RPN
Store-Based Retailing 99.3 99.3 99.3 99.3

- Grocery Retailers 99.3 25.4 99.3 99.3
-- Modern Grocery 41.1 25.4 13.1 15.3
Retailers
--- Convenience Stores 0.0 0.0 0.0 0.9
--- Discounters 0.0 0.0 0.0 0.0
--- Forecourt Retailers 0.0 0.0 0.0 0.0
--- Hypermarkets 23.7 6.6 4.6 9.0
--- Supermarkets 17.4 18.8 8.5 5.4
-- Traditional Grocery 58.2 0.0 86.2 84.0

Retailers
--- Food/drink/tobacco 0.0 0.0 0.0 0.0
specialists
--- Independent Small 58.2 0.0 86.2 83.5
Grocers
--- Other Grocery 0.0 0.0 0.0 0.5
Retailers
- Non-Grocery Specialists 0.0 73.8 0.0 0.0
-- Health and Beauty 0.0 0.0 0.0 0.0
-- Other Foods Non- 0.0 73.8 0.0 0.0
Grocery Specialists
- Mixed Retailers 0.0 0.0 0.0 0.0
Non-Store Retailing 0.7 0.7 0.7 0.7
- Vending 0.0 0.0 0.0 0.0
- Homeshopping 0.0 0.0 0.0 0.0
- Internet Retailing 0.7 0.7 0.7 0.7
- Direct Selling 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0
Key: CIM = cooking ingredients and meals; DPA = dairy products and alternatives; SNK = snacks; SF =
staple foods
Table 15 Forecast Sales of Packaged Food by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Packaged Food 43,933.0 48,506.9 53,689.7 59,654.0 66,347.8 73,959.2

trade sources
Table 16 Forecast Sales of Packaged Food by Category: Value 2018-2023
INR bn
2018 2019 2020 2021 2022 2023
Packaged Food 5,091.7 5,707.3 6,366.6 7,078.7 7,844.6 8,669.3

trade sources
Table 17 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

trade sources
Table 18 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023
% constant value growth

2018/2019 2018-23 CAGR 2018/23 Total

trade sources
SOURCES
Sources used during the research included the following:
Summary 1 Research Sources

Official Sources Agricultural & Processed Food Products
Export Development Authority (APEDA)
Agriculture & Agri-Food Canada
Chonnad Rice Mills
Dairy Development Department Maharashtra
State
Food Safety & Standards Authority of India
Hande & Co Pvt Ltd
Kerala Planning Board
Ministry of Food Processing Industries
National Dairy Development Board
National Oilseeds & Vegetable Oils
Development Board
United States Department of Agriculture
(USDA) Foreign Agricultural Service (FAS)
Trade Associations Agriculture & Processed Foods Export
Development Authority
All Andhra Pradesh Wafers Manufacturers
Association
All India Bread Manufacturers' Association
All India Confectionery Manufacturers'
Association
All India Food Processors' Association
All India Jamiatul Quresh
All India Rice Exporters Association (AIREA)
All Kerala Poultry Farmers Association
All Orissa Bakers' Association
Aseptic Food Processing & Packaging
Industry Association of India (AFPPA)
Confederation of Indian Food Trade &
Industry, The (CIFTI)
Federation of Biscuit Manufacturers' of India
(FBMI)
Federation of Indian Chambers of Commerce

& Industry (FICCI)
French Trade Commision India
India Dairy Industry, The
India Food Industry Association
Indian Biscuit Manufacturers' Association
Indian Confectionery Manufacturers'
Association
Indian Dairy Association
Indian Olive Association
Indian Sugar Mills Association
Karnataka Wrapped Bread Manufacturers
Association
Labnol
Organised Bread Manufacturers Association
of Pune
Poultry Federation of India
Processed Food Industry
Seafood Exporters Association of India, The
Spices Board of India
The Solvent Extractors Association of India
Trade Press 2014 India Food Ex
Ace Analyser
Agency Faqs
Asia Times
Blonnet
Brand Equity
Brands Display
Business India
Business Line
Business Standard, The
Business Today
Business World
Business2media
Capital Market
Cold Chain Market in India 2011
Dairy India
dairywebworld.com
Deccan Chronicle
dnaindia.com
DNB
Domain-b
Economic Times, The
Economy Watch
Express Hotelier & Caterer
Financial Express, The
Financial Times
fmcgmarketers.blogspot.com
FnB News
Food Industry India
Food Navigator Asia
FoodAsia
foodindiaforum.com
foodindustryindia.com
Friday Corp
Good Food Line
Green Age News Wire
Hindu Business Line, The
Hindustan Times
IBEF Report on Processed Food 2014
ibnlive.in.com
ICFDC
ICRA
imagesfood.com
India Earnings
India e-news
India Mart
India PR Wire
India Reports
India Today
Indian Express
Indian Televisioncom
indianfoodindustry.net
indianmilkproducts.com
indiansnacks.wordpress.com
Just Food Online Magazine
KSA Technopak
Live Mint
Mag India
maximspeak.blogspot.com
money.rediff.com
Naviamarkets
ndiansnacks.wordpress.com
News Site
News Source
Outlook Money
Provisioner Online
Ready Meals Info
Retail Yatra
Reuters
The Hindu
The Telegraph
Times Food Processing Journal
Times of India, The
Tribune, The
Vccircle.com
Wall Street Journal
Wallet Watch
Web New Wire
www.business-standard.com
www.foodindustryindia.com
www.foodnavigator-asia.com
www.indiaafricaconnect.in
www.slideshare.net
Source: Euromonitor International
EDIBLE OILS IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 Edible oils current value sales grow by 22% in 2018 to reach INR1.6 trillion
 Blended edible oils could pose a serious challenge to olive oil due to their healthy properties
and significantly lower unit price
 Olive oil and rapeseed oil are the most dynamic performers in current value growth terms,
with each posting an increase of 28%
 Overall average unit price for edible oils increases by 6% in current value terms
 Adani Group leads edible oils in 2018 with a value share of 7%, and announces plans to
acquire Ruchi Soya Industries Ltd
 Edible oils value sales at constant 2018 prices are expected to record a CAGR of 14% over
the forecast period to reach INR3.1 trillion in 2023
PROSPECTS
Rising Health Awareness Leads Consumers To Switch To Olive Oil and

Rapeseed Oil
The rising incidence of conditions like obesity and high cholesterol in India is increasingly
leading consumers to choose healthier and more nutritious foods. This trend, which is strongest
in urban areas, continued to see many consumers shift to healthier edible oils categories such
as olive oil and rapeseed oil in 2018. To tap into this trend, manufacturers such as Borges India
Pvt Ltd launched new olive oil products during the year. Similarly, over 2016-2017 olive oil
witnessed the entry of new players, including Rajasthan Olive Cultivation Ltd. Such companies
have also recently invested in in-store promotions and other marketing activities to highlight the
benefits of healthier product types, which include the potential to help lower blood cholesterol. At
the same time, modern grocery retailers like Hypercity have allocated more shelf space to
healthier edible oils and allowed manufacturers to run in-store promotions for these products.
The trend towards healthier edible oils will remain strongest in first-tier cities over the forecast
period. However, rising health awareness should ensure that it also becomes more visible in
smaller cities and even rural areas. That said, it is expected that a large proportion of the Indian
population will continue to prefer mustard oil over other product types. Mustard oil is traditionally
widely used in Indian cooking, and many consumers believe it enhances the taste of food.
Lower Price Point Continues To Support High Consumption of Palm Oil

in India
Palm oil remained the cheapest option within edible oils in India in 2018, and saw average
unit prices increase by less than most other categories. This ensured it continued to find a huge
consumer base among the country’s lower-income population. Due to its lower cost, palm oil is
also widely used by foodservice operators, particularly small local fast food outlets offering
dishes ranging from noodles and chilli chicken to samosas.
While palm oil consumption is high, this category has historically lagged behind in terms of
product promotion. However, recent years have seen the launch of special awareness
campaigns intended to educate consumers on the use and nutritional properties of palm oil. For
instance, in 2017 the Malaysian Palm Oil Council signed a memorandum of understanding with
the Mumbai Dabbawala Association to raise awareness of palm oil among Indian consumers.
Together with its affordability, such campaigns should continue to support growth in palm oil
consumption over the forecast period. However, demand in the category is likely to be restricted
somewhat as rising health awareness leads more consumers to switch to healthier product
types such as olive oil and sunflower oil.
Blended Oils Pose Growing Competitive Threat To Olive Oil

While the value share of olive oil within edible oils remained low in 2018, the category
expanded strongly thanks to rising health awareness among Indians. However, because the
average unit price for olive oil remained the highest among all edible oils categories, it continued
to face a considerable challenge from blended oils products. The per unit cost of such products
is approximately one seventh that of olive oil, which makes them very attractive to consumers
seeking healthier options. Popular health-oriented blended oils brands include Saffola and
Fortune, and a number of manufacturers have recently launched new products of this type. For
instance, in October 2018 Cargill India Pvt Ltd launched NatureFresh Acti Heart, which is made
from a blend of canola oil and rice bran oil. Price remains a highly influential factor in edible oils
purchasing decisions, and together with rising health awareness this should lead more
consumers to favour blended oils over olive oil during the forecast period.
COMPETITIVE LANDSCAPE
Adani Overtakes Ruchi Soya To Claim the Overall Lead in Edible Oils
Adani Group, which offers a range of products under the Fortune brand, overtook Ruchi Soya
Industries to become the overall leader in edible oils in value terms in 2018. The company
continued to display strong double-digit current value growth thanks to the success of recent
efforts to increase awareness of the Fortune brand and strengthen its penetration in rural
regions. For example, over 2016-2017 Adani partnered with Paytm on an outdoor campaign to
promote Fortune Sunflower Oil. This promotion saw the company offer Paytm wallet cash of
INR30 and INR100 on purchases of 1-litre pouches and 5-litre jars, respectively. In 2018, Adani
hired OMD Mudramax to manage all of its brands in East and South India, and announced an
investment of INR7.5 billion to double the capacity of its edible oils refinery at Haldia in West
Bengal. In line with its focus on exploring avenues of inorganic growth, 2018 also saw the
company receive approval for an INR60 billion acquisition of Ruchi Soya. In addition, to bolster
its image as a producer of healthy and eco-friendly edible oils, the company announced plans to
start using recyclable packaging materials for its Fortune brand.
Ruchi Soya Set To Be Acquired by Adani

Despite a portfolio that includes well-established brands such as Ruchi Gold, Mahakosh,
Nutrela and Sunrich, Ruchi Soya recorded a sharp current value sales decline within edible oils
in 2018. This decline, which saw it fall from first to third in the rankings, was a direct result of a
steep drop in its top-line revenues over 2016-2017. The company’s operational efficacy was
significantly hampered by its high debt, which stood at approximately INR45.1 billion in 2017
and contributed to a dramatic decline in top-line revenues from its oils business. Moreover, its
capacity to reduce this debt was seriously weakened by its high exposure to the commodities
exchange for castor seeds, prices for which declined by almost 40% over 2015-2018. As a
result of these problems, by mid-2018 Ruchi Soya was on the verge of being acquired by Adani.
This acquisition will expand Adani’s footprint considerably, making it the largest edible oils
producer in India.
Other Edible Oils Gains Momentum As Companies Introduce New

Products
Thanks to rising health awareness, other edible oils product types such as canola, groundnut,
coconut, rice bran and sesame oil are steadily gaining popularity in India. Manufacturers have
recently attempted to capitalise on this trend via TV advertising campaigns and new launches.
For instance, in 2018 Cargill launched Gemini Rice Bran Oil to appeal to health-conscious
consumers. Even smaller players were active in this regard, with Organic Oil launching a new
sesame oil product in 2018. However, it will take some time before other edible oils gain
mainstream popularity. This is especially the case in second- and third-tier cities and rural
areas, where health is not a high priority for most consumers in edible oils purchasing decisions.
CATEGORY DATA
Table 19 Sales of Edible Oils by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Olive Oil 7.4 9.8 11.4 12.7 13.9 14.9

Corn Oil - - - - - -
Palm Oil 2,009.5 2,374.7 2,779.7 3,234.8 3,770.0 4,353.1
Rapeseed Oil 480.9 640.9 851.2 1,130.6 1,502.6 1,808.9
Soy Oil 944.4 1,103.9 1,277.9 1,472.0 1,701.6 1,911.9
Sunflower Oil 532.3 640.4 767.0 915.3 1,086.7 1,222.8
Other Edible Oil 1,018.6 1,128.6 1,252.9 1,394.0 1,540.1 1,758.6
Edible Oils 4,993.1 5,898.2 6,940.0 8,159.4 9,614.8 11,070.1
Table 20 Sales of Edible Oils by Category: Value 2013-2018
INR bn
2013 2014 2015 2016 2017 2018
Olive Oil 5.7 8.1 11.8 16.0 22.2 28.5

Corn Oil - - - - - -
Palm Oil 191.2 236.9 291.2 357.3 439.5 532.8
Rapeseed Oil 60.1 84.6 117.8 166.5 236.7 303.0
Soy Oil 93.1 116.0 142.6 175.0 215.5 257.9
Sunflower Oil 68.8 89.0 111.6 139.5 175.0 209.4
Other Edible Oil 131.8 155.5 183.0 215.5 254.7 304.8
Edible Oils 550.6 690.1 857.9 1,069.7 1,343.6 1,636.4
Table 21 Sales of Edible Oils by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Olive Oil 7.0 15.0 101.4

Corn Oil - - -
Palm Oil 15.5 16.7 116.6
Rapeseed Oil 20.4 30.3 276.1
Soy Oil 12.4 15.1 102.4
Sunflower Oil 12.5 18.1 129.7
Other Edible Oil 14.2 11.5 72.7
Edible Oils 15.1 17.3 121.7
Table 22 Sales of Edible Oils by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Olive Oil 28.3 37.9 399.1

Corn Oil - - -
Palm Oil 21.2 22.7 178.6
Rapeseed Oil 28.0 38.2 404.0
Soy Oil 19.7 22.6 177.1
Edible Oils 21.8 24.3 197.2
Table 23 NBO Company Shares of Edible Oils: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Adani Group 6.1 6.6 7.1 7.4 7.0

Emami Ltd 6.1 5.9 5.7 5.6 5.5
Marico Ltd 4.5 4.0 3.6 3.2 2.9
Pvt Ltd
Vegetable Pvt Ltd
Agro Tech Foods Ltd 0.9 0.7 0.6 1.0 0.9
M K Agrotech Pvt Ltd 0.9 0.8 0.7 0.7 0.6
VVV & Sons 0.8 0.7 0.7 0.6 0.6
Vijay Solvex Ltd 0.9 0.6 0.4 0.3 0.2
Consumer Marketing 0.2 0.2 0.2 0.1 0.1
India Pvt Ltd
Borges India Pvt Ltd 0.1 0.1 0.1 0.1 0.1
Minerva Agricola 0.1 0.1 0.1 0.1 0.1
Alimentare Srl
Bunge Agribusiness 4.1 0.3 0.3 0.1 0.0
India Pvt Ltd
R R Oomerbhoy Pvt Ltd 0.0 0.0 0.0 0.0 0.0

KS Oils Ltd 1.4 0.0 0.0 - -
Dalmia Continental Pvt - - - - -
Ltd
Godrej Hershey Foods & - - - - -
Beverages Ltd
Others 52.5 60.9 63.8 66.6 70.0
Total 100.0 100.0 100.0 100.0 100.0
Table 24 LBN Brand Shares of Edible Oils: % Value 2015-2018
% retail value rsp

Fortune Adani Group 6.6 7.1 7.4 7.0

Healhty & Tasty Emami Ltd 5.9 5.7 5.6 5.5
Gold Winner Kaleesuwari Refinery 2.8 2.7 2.4 2.4
Pvt Ltd
Mahakosh (Ruchi Ruchi Soya Industries Ltd 3.4 2.9 2.5 1.9
Group)
Gemini (Cargill Inc) Cargill India Pvt Ltd 2.7 2.0 1.5 1.5
Sundrop (ConAgra Agro Tech Foods Ltd - 0.5 0.9 0.9
Brands Inc)
Nature Fresh Cargill India Pvt Ltd 1.6 1.2 0.8 0.8
(Cargill Inc)
Sunpure M K Agrotech Pvt Ltd 0.8 0.7 0.7 0.6
Idhayam VVV & Sons 0.7 0.7 0.6 0.6
Dhara (National Mother Dairy Fruit & 0.6 0.6 0.6 0.6
Dairy Development Vegetable Pvt Ltd
Board)
Leonardo (Cargill Cargill India Pvt Ltd 0.4 0.4 0.4 0.5
Inc)
Patanjali Kachi Patanjali Ayurved Ltd 0.4 0.4 0.4 0.4
Ghani Mustard Oil
Scooter Vijay Solvex Ltd 0.6 0.4 0.3 0.2
Nutrela (Ruchi Group) Ruchi Soya Industries Ltd 0.3 0.3 0.3 0.2
Sasso (Deoleo SA) Minerva Agricola 0.1 0.1 0.1 0.1
Alimentare Srl
Figaro Consumer Marketing 0.2 0.1 0.1 0.1
India Pvt Ltd
Sunrich (Ruchi Group) Ruchi Soya Industries Ltd 0.2 0.2 0.2 0.1
Borges (Borges Borges India Pvt Ltd 0.1 0.1 0.1 0.1
International Group
SL)
Sweekar (Cargill Inc) Cargill India Pvt Ltd 0.1 0.1 0.1 0.1
Ginni (Bunge Ltd) Bunge Agribusiness 0.3 0.3 0.1 0.0
India Pvt Ltd
RRO R R Oomerbhoy Pvt Ltd 0.0 0.0 0.0 0.0
Double Sher KS Oils Ltd 0.0 0.0 - -
Kalash KS Oils Ltd 0.0 0.0 - -
Sundrop (ConAgra Agro Tech Foods Ltd 0.6 - - -
Foods Inc)
Leonardo Dalmia Continental Pvt Ltd - - - -
Godrej (Hershey Co, Godrej Hershey Foods & - - - -
The) Beverages Ltd
Sweekar Marico Ltd - - - -

Others Others 61.9 64.7 67.4 70.7
Total Total 100.0 100.0 100.0 100.0
Table 25 Distribution of Edible Oils by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 5.8 6.0 6.3 6.5 6.8 7.0
Retailers
--- Convenience Stores - - - - - -
--- Forecourt Retailers - - - - - -
--- Hypermarkets 2.7 2.9 3.1 3.3 3.5 3.7
--- Supermarkets 3.1 3.2 3.2 3.3 3.3 3.3
Retailers
specialists
Grocers
--- Other Grocery 4.3 4.3 4.4 4.4 4.5 4.5
Retailers
- Non-Grocery Specialists - - - - - -
-- Health and Beauty - - - - - -
-- Other Foods Non- - - - - - -
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 26 Forecast Sales of Edible Oils by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Olive Oil 14.9 15.9 17.0 18.0 19.2 20.3

Corn Oil - - - - - -
Palm Oil 4,353.1 4,941.5 5,560.7 6,201.5 6,859.7 7,508.0
Rapeseed Oil 1,808.9 2,143.2 2,495.4 2,873.8 3,319.1 3,812.5
Soy Oil 1,911.9 2,153.2 2,418.8 2,730.4 3,065.9 3,452.8
Sunflower Oil 1,222.8 1,372.8 1,531.3 1,705.9 1,885.2 2,079.7
Other Edible Oil 1,758.6 2,030.7 2,393.4 2,873.6 3,495.9 4,269.8
Edible Oils 11,070.1 12,657.3 14,416.6 16,403.3 18,645.1 21,143.1
trade sources
Table 27 Forecast Sales of Edible Oils by Category: Value 2018-2023
INR bn
2018 2019 2020 2021 2022 2023
Olive Oil 28.5 34.5 41.5 49.9 59.5 70.4

Corn Oil - - - - - -
Palm Oil 532.8 605.0 681.3 760.6 841.9 923.8
Rapeseed Oil 303.0 361.4 420.7 481.8 551.6 626.4
Soy Oil 257.9 295.3 336.7 383.9 434.8 492.5
Sunflower Oil 209.4 239.8 273.4 311.8 353.1 399.9
Other Edible Oil 304.8 349.0 401.3 463.4 539.4 630.5
Edible Oils 1,636.4 1,885.0 2,155.0 2,451.3 2,780.4 3,143.6
trade sources
Table 28 Forecast Sales of Edible Oils by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Olive Oil 7.0 6.4 36.4

Corn Oil - - -
Palm Oil 13.5 11.5 72.5
Rapeseed Oil 18.5 16.1 110.8
Soy Oil 12.6 12.5 80.6
Edible Oils 14.3 13.8 91.0
trade sources
Table 29 Forecast Sales of Edible Oils by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Olive Oil 21.2 19.8 147.2

Corn Oil - - -
Palm Oil 13.6 11.6 73.4
Rapeseed Oil 19.3 15.6 106.7
Soy Oil 14.5 13.8 91.0
Edible Oils 15.2 13.9 92.1
trade sources
READY MEALS IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 Ready meals current value sales grow by 16% in 2018 to reach INR23.7 billion
 Convenience trend and the availability of a wide variety of product types and portion sizes
continue to support the positive development of ready meals
 Frozen ready meals is the most dynamic category in current value growth terms, with sales
increasing by 17%
 Overall average unit price for ready meals increases by 2% in current value terms
 McCain Foods India Pvt Ltd leads ready meals in 2018 with a 26% value share
 Ready meals value sales at constant 2018 prices are expected to record a CAGR of 12%
over the forecast period to reach INR41.2 billion in 2023
PROSPECTS
Hectic Lifestyles Strengthen Appreciation for the Convenience of Ready

Meals
Despite the country’s large population, ready meals is still a small category in India as
compared to more developed economies or even China and other South East Asian nations.
This is partly due to a strong preference for fresh food among Indian consumers. Also,
consumer awareness of ready meals is relatively low, especially in second- and third-tier cities.
Nonetheless, demand has grown steadily in recent years as increasingly hectic lifestyles have
strengthened consumer appreciation for the convenience of ready meals, which can be
prepared quickly and easily carried in handbags or office bags. In addition, concerns about the
quality of food offered by fast food chains and other foodservice operators are leading more
Indians to consume ready meals on a regular basis. The availability of products in both single-
serve and family-sized packs is also helping to increase interest in ready meals among
students, workers and other consumers who have limited time for cooking or eating. All of these
factors ensured that the category continued to record strong growth in current value sales in
2018.
Wide Product Variety and Improvements in Distribution Help To Drive

Demand
The variety of products available in ready meals in India is wide and diverse. Manufacturers
offer a range of options to consumers, encompassing everything from traditional Indian meals
such as poha, upma and dal chawal to more exotic dishes like chicken and mutton biriyani.
Moreover, distribution of ready meals is constantly improving in line with the expansion of large-
scale modern grocery retailers and the increasing popularity of online shopping platforms. Even
smaller retailers in second- and third-tier cities and rural areas, including independent outlets,
now offer reasonably wide ready meals assortments. These trends continued to help to raise
awareness of this category among consumers in 2018.
Consumers Show Growing Interest in Frozen Ready Meals

Frozen ready meals remained by far the largest category within ready meals in India in value
terms in 2018, and also posted the fastest growth in current value sales. This was partly due to
strong performances by leading frozen food manufacturers with expansive product portfolios,
including McCain Foods, Capital Foods Ltd and MTR Foods Ltd. Such companies benefited
from improvements in cold storage facilities in retail outlets, as well as from the success of
recent and new launches. For example, ITC Limited launched frozen prawns in seven metro
cities in India in 2017. Even smaller players were highly active in this regard over 2017-2018,
with Sumeru Foods for example introducing a range of frozen products that included chicken
kebabs, frozen paneer and French fries. Another factor that supported the positive development
of frozen ready meals in 2018 was the growing perception among consumers that such products
are a reasonably healthy choice. Aside from rising awareness that nutrients are preserved
during the freezing process, this perception was encouraged by the adoption of improved
packaging for some products. However, brand identification and recall remain a challenge in
frozen ready meals, as while several players compete in this category, the level of product
differentiation is low. Moreover, consumers can now choose other alternatives to traditional
home cooking, including food tech start-ups that deliver meals right to their doorsteps.
Mccain Foods Retains Its Lead in Ready Meals in India

McCain Foods remained the clear leader in ready meals in India in value terms in 2018. The
primary reason for the company’s continued leadership was its extensive product portfolio,
which offers a range of options to suit the tastes of people across all age groups. Its most
popular products include frozen ready meals such as mini samosas and vegetable nuggets,
which are enjoyed by children and young mothers alike. Such products can be prepared quickly
by heating them in a microwave, and can be consumed as a snack or as a full evening meal.
Having recorded strong current value sales growth throughout the review period, it is expected
that McCain Foods will maintain its leading position in ready meals over the forecast period.
Capital Foods Ltd and Mtr Foods Ltd Continue To Occupy Second and
Third Spots
Capital Foods Ltd ranked second in ready meals in 2018, and continued to post strong
double-digit growth in current value sales. The company offers a wide range of products under
its Ching’s brand, including sandwiches, spring rolls and similar items. It has aggressively
expanded its product portfolio in frozen ready meals in recent years, while also stepping up in-
store promotional activities such as offering free samples and “buy one get one free” deals.
These in-store promotional activities, which are generally carried out in supermarkets and
hypermarkets, have helped the company to generate interest in new and established products
among consumers. MTR Foods Pvt Ltd, which placed third overall in ready meals in 2018, has
also recently expanded its portfolio to offer a wide range of breakfast products that cater to
consumers in the south of India, including upma, poha and vegetable pulav options. The
company has also aggressively promoted its MTR brand via TV advertising campaigns. In
September 2018, MTR Foods announced plans to develop new rice-based ready meals
products and expand its “3 Minute Breakfast” range.
Itc Aims To Strengthen Its Position Via New Product Development

ITC Ltd placed fourth overall in ready meals in 2018, and recorded robust growth in current
value sales. While this company already has a strong portfolio, it aims to continue developing
new products to tap into evolving consumer demands. For instance, in 2018 it announced plans
to launch a ready-to-bake roti (Indian bread) product with a five-day shelf life. As part of its
aggressive strategy to expand its consumer base, the company also announced plans to launch
new ready meals products for people that have lifestyle diseases such as diabetes or suffer
from malnutrition. Together with its considerable distribution footprint, this focus on new product
development should help ITC to pose a serious challenge to the leading companies in ready
meals over the forecast period.
CATEGORY DATA
Table 30 Sales of Ready Meals by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Shelf Stable Ready Meals 10.1 11.8 13.7 15.5 17.6 19.8
Chilled Lunch Kits - - - - - -
Chilled Pizza - - - - - -
Chilled Ready Meals - - - - - -
Dinner Mixes - - - - - -
Dried Ready Meals 8.8 10.5 12.0 13.6 15.4 17.5
Frozen Pizza - - - - - -
Frozen Ready Meals 24.3 28.6 32.8 37.1 42.1 48.1
Prepared Salads - - - - - -
Ready Meals 43.2 50.9 58.5 66.2 75.1 85.4
Table 31 Sales of Ready Meals by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Shelf Stable Ready Meals 2,784.3 3,306.5 3,875.6 4,495.3 5,241.9 6,018.0
Dried Ready Meals 2,181.9 2,640.8 3,080.9 3,555.7 4,126.2 4,813.0
Frozen Ready Meals 5,891.0 7,012.0 8,140.0 9,480.0 11,023.6 12,902.3
Ready Meals 10,857.1 12,959.3 15,096.4 17,531.0 20,391.7 23,733.3
Table 32 Sales of Ready Meals by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Shelf Stable Ready Meals 12.2 14.4 95.8

Chilled Lunch Kits - - -
Chilled Pizza - - -
Chilled Ready Meals - - -
Dinner Mixes - - -
Dried Ready Meals 13.8 14.7 98.4
Frozen Pizza - - -
Frozen Ready Meals 14.4 14.6 97.9
Prepared Salads - - -
Ready Meals 13.7 14.6 97.5
Table 33 Sales of Ready Meals by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Chilled Pizza - - -
Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 16.4 16.9 118.6
Table 34 Sales of Frozen Ready Meals by Ethnicity: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Indian 94.0 93.0 94.0 95.0 96.0 96.2

Other Ethnicities 6.0 7.0 6.0 5.0 4.0 3.8
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 35 NBO Company Shares of Ready Meals: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
McCain Foods India Pvt 25.8 26.3 26.6 26.7 26.2

Ltd
Capital Foods Ltd 11.5 12.1 12.7 14.1 15.1
MTR Foods Pvt Ltd 11.3 11.2 11.2 11.4 11.8
ITC Ltd 7.5 8.8 8.8 8.8 8.6
Gits Food Products Pvt 5.6 5.7 5.8 5.8 5.8
Ltd
Bambino Agro Industries 2.2 2.1 2.0 2.0 1.9
Ltd
Kohinoor Speciality 13.2 12.1 5.6 2.5 1.5
Foods India Pvt Ltd
Al Kabeer Exports Pvt Ltd 2.3 1.8 1.5 1.2 1.0
Innovative Foods Ltd 0.9 0.9 0.9 0.9 0.9
Venky's India Ltd 2.5 1.7 1.2 1.0 0.9
Merino Group 2.6 1.7 1.2 0.9 0.8
Vadilal Industries Ltd 0.7 0.6 0.6 0.5 0.4
Kohinoor Foods Ltd - - - - -
Others 14.0 15.0 21.8 24.1 25.2
Total 100.0 100.0 100.0 100.0 100.0
Table 36 LBN Brand Shares of Ready Meals: % Value 2015-2018
% retail value rsp

McCain (McCain McCain Foods India Pvt 26.3 26.6 26.7 26.2
Foods Ltd) Ltd
Chings Capital Foods Ltd 12.1 12.7 14.1 15.1
MTR (Orkla Group) MTR Foods Pvt Ltd 11.2 11.2 11.4 11.7
Gits Ready To Eat Gits Food Products Pvt Ltd 5.7 5.8 5.8 5.8
Aashirvaad (ITC ITC Ltd 4.8 4.9 4.9 4.8
Group)
Bambino Bambino Agro Industries 2.1 2.0 2.0 1.9
Ltd
Kohinoor (McCormick Kohinoor Speciality 12.1 5.6 2.5 1.5
& Co Inc) Foods India Pvt Ltd
Kitchens of India ITC Ltd 1.2 1.1 1.1 1.0
(ITC Group)
Al Kabeer Al Kabeer Exports Pvt Ltd 1.8 1.5 1.2 1.0
Sumeru Innovative Foods Ltd 0.9 0.9 0.9 0.9
Venky's Venky's India Ltd 1.7 1.2 1.0 0.9
Vegit Merino Group 1.7 1.2 0.9 0.8
Quick Treat Vadilal Industries Ltd 0.6 0.6 0.5 0.4
Kohinoor Kohinoor Foods Ltd - - - -
Others Others 15.1 21.8 24.2 25.2
Total Total 100.0 100.0 100.0 100.0
Table 37 Distribution of Ready Meals by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 22.5 22.5 22.6 22.7 23.0 22.5
Retailers

--- Hypermarkets 15.5 15.5 15.6 15.6 15.9 15.5
--- Supermarkets 6.8 6.8 6.8 6.9 6.9 6.7
Retailers
specialists
Grocers
--- Other Grocery - - - - - -
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 38 Forecast Sales of Ready Meals by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Shelf Stable Ready Meals 19.8 22.3 25.1 28.2 31.7 35.6
Dried Ready Meals 17.5 19.9 22.7 26.0 29.8 34.4
Frozen Ready Meals 48.1 55.2 63.7 74.0 85.8 99.9
Ready Meals 85.4 97.4 111.5 128.2 147.3 169.9
trade sources
Table 39 Forecast Sales of Ready Meals by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Shelf Stable Ready Meals 6,018.0 6,603.9 7,215.4 7,883.2 8,575.2 9,287.1
Dried Ready Meals 4,813.0 5,373.5 6,024.8 6,783.6 7,638.1 8,673.0
Frozen Ready Meals 12,902.3 14,404.7 16,150.8 18,185.0 20,475.5 23,249.8
Ready Meals 23,733.3 26,382.1 29,391.1 32,851.7 36,688.8 41,209.9
trade sources
Table 40 Forecast Sales of Ready Meals by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Chilled Pizza - - -
Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 14.0 14.7 98.9
trade sources
Table 41 Forecast Sales of Ready Meals by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Chilled Pizza - - -
Dinner Mixes - - -
Frozen Pizza - - -
Ready Meals 11.2 11.7 73.6
trade sources
SAUCES, DRESSINGS AND

CONDIMENTS IN INDIA - CATEGORY
ANALYSIS
HEADLINES
 Sauces, dressings and condiments current value sales grow by 18% in 2018 to reach
INR182.9 billion
 Growing consumption of Western-style products such as pasta sauces, mayonnaise and
salad dressings poses challenges for ketchup and other categories
 Pasta sauces posts the fastest current value growth rate of 29%
 Overall average unit price for sauces, dressings and condiments rises by 7% in current value
terms
 S Narendrakumar & Co retains its lead in sauces, dressings and condiments in 2018 with a
value share of 13%, followed by Mahashian Di Hatti Pvt Ltd with a share of 8%
 Sauces, dressings and condiments value sales at constant 2018 prices are expected to
record a CAGR of 14% over the forecast period to reach INR344.9 billion in 2023
PROSPECTS
Demand for Dry Sauces and Herbs and Spices Remains Strong
Dry sauces remained by far the largest category within sauces, dressings and condiments in
India in value terms in 2018, and continued to post strong double-digit growth in current value
sales. Together with herbs and spices, dry sauces are a key ingredient in Indian cuisine, and
therefore used on a daily basis in most households in the country. Another factor that bolstered
the development of both of these categories in 2018 was rising demand for ready-to-use
blended products that make it easier to prepare more complicated dishes such as biriyani and
mutton rezala at home. In addition, both benefited from new launches and marketing activities.
For example, MTR Foods, which has a strong presence in South India with product types such
as sambhar powder, curry powder, rasam powder and garam masala, launched a new spices
range. DS Group meanwhile sought to strengthen consumer awareness of its Catch Masala
brand with a new advertising campaign that emphasised how its high quality ingredients can
improve the taste of meals. New product launches and promotional campaigns lifted the overall
performance of sauces, dressings and condiments, where taste and quality play a crucial role in
purchasing decisions.
Mayonnaise and Salad Dressings Benefit From Growing Interest in

Western Cuisine
Mayonnaise and salad dressings continued to record strong growth in current value sales in
2018. Both categories benefited as growing exposure to Western cuisine via foodservice outlets
led more Indian consumers to purchase these product types for use at home. This trend was
most prevalent in major urban centres, but is expected to become more visible in second- and
third-tier cities over the forecast period as mayonnaise and salad dressings gain wider
acceptance among consumers across India.
Pasta Sauces Is the Most Dynamic Category in 2018

Pasta sauces was the most dynamic performer within sauces, dressings and condiments in
current value growth terms in 2018. As was the case with mayonnaise and salad dressings, the
category benefited as more Indian consumers sought to recreate Western dishes they
encountered on foodservice menus in their own homes. Demand for pasta sauces was
strongest in metro and first-tier cities. The category’s performance was further bolstered by
marketing campaigns from Dr Oetker India Pvt Ltd and other companies that targeted
consumers seeking new and more adventurous tastes. A substantial increase in the average
unit price for pasta sauces also fuelled current value sales growth. Independent small grocers
remained the dominant distribution channel for pasta sauces in 2018, though the value shares
of hypermarkets and supermarkets continued to rise.
S Narendrakumar & Co Continues To Lead Sauces, Dressings and

Condiments
S Narendrakumar & Co remained the overall leader in sauces, dressings and condiments in
value terms in 2018, and continued to record double-digit growth in current value sales. The
company, which has a very strong presence in the northern part of India, offers dry sauces and
herbs and spices under its Everest brand. These products are distributed via most retail
channels and available in a range of pack sizes to suit the needs of different consumer groups.
Due to its reputation for quality, the Everest brand is the number one choice for many Indian
consumers when it comes to dry sauces and herbs and spices. In recent years the company
has taken steps to maintain high product quality standards, including the adoption of an
automated plant processing system for spices. It has also diversified its portfolio to offer more
variants of certain products. For example, the company now offers laal mirch products in an
assortment of flavours, including Tikhalal and Kashmirilal varieties.
Mahashian Di Hatti Pvt Ltd Remains the Second Leading Player in 2018
Mahashian Di Hatti Pvt Ltd ranked second overall in sauces, dressings and condiments in
2018. This company offers MDH, one of the most popular brands in herbs and spices and dry
sauces in India. It competes aggressively with S Narendrakumar & Co, maintaining an extensive
product portfolio and a strong supply chain across the country. In recent years it has expanded
both its portfolio and its distribution network to cater to the rising demand for its products in India
and around the globe. According to the company, the primary reason for the popularity of the
MDH brand is that its ability to source the best spices from India and abroad ensures a high
degree of consistency in terms of product flavours. Moreover, its wide distribution network
ensures that these products are available even in rural areas.
Desai Bros Ltd Continues To Perform Positively Thanks To New

Launches
Desai Bros Ltd’s Mother’s Recipe brand, which competes in pickled products and other
sauces, dressings and condiments, recorded healthy growth in current value sales throughout
the review period. The company launched a number of new products under this brand over
2017-2018, and it plans to continue expanding the range over the forecast period. In addition to
launching its own online store, in recent years Desai Bros has stepped up investment in
advertising campaigns and in-store promotions to raise awareness of the Mother’s Recipe
brand. The company also benefits from the strength of its distribution network, with its products
being sold in both modern grocery retailers and independent small grocers outlets in India.
CATEGORY DATA
Table 42 Sales of Sauces, Dressings and Condiments by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Cooking Ingredients 167.5 187.2 218.4 248.7 274.0 308.5

- Bouillon - - - - - -
-- Gravy Cubes and - - - - - -
Powders
-- Liquid Stocks and - - - - - -
Fonds
-- Stock Cubes and - - - - - -
Powders
- Dry Sauces 92.0 108.3 127.0 145.4 163.8 188.9
- Herbs and Spices 74.4 77.4 89.7 101.1 107.4 116.3
- Monosodium Glutamate - - - - - -
- Pasta Sauces 1.0 1.4 1.7 2.2 2.8 3.3
- Cooking Sauces - - - - - -
Dips - - - - - -
Pickled Products 70.2 75.1 81.4 87.6 94.3 100.1
Table Sauces 75.4 83.7 91.4 99.3 111.0 119.7
- Barbecue Sauces - - - - - -
- Fish Sauces - - - - - -
- Ketchup 67.7 75.2 81.9 88.8 99.1 106.5
- Mayonnaise 3.0 3.4 4.0 4.5 5.1 5.8
- Mustard - - - - - -
- Oyster Sauces - - - - - -
- Salad Dressings 0.4 0.5 0.7 0.9 1.2 1.5
- Soy Sauces 0.7 0.8 0.8 0.9 1.0 1.1
- Chili Sauces 3.5 3.7 4.0 4.2 4.6 4.9
- Other Table Sauces - - - - - -
Tomato Pastes and Purées 1.9 2.1 2.4 2.8 3.2 3.5
Yeast-based Spreads - - - - - -
Other Sauces, Dressings 46.2 51.5 56.4 61.3 66.6 71.7
and Condiments
Sauces, Dressings and 361.1 399.5 450.0 499.6 549.1 603.5
Condiments
Table 43 Sales of Sauces, Dressings and Condiments by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Cooking Ingredients 53,192.0 63,004.1 76,682.3 91,575.1 106,611.0 127,235.8

- Bouillon - - - - - -
Powders
Fonds
Powders
- Dry Sauces 35,514.5 44,082.1 54,471.9 65,630.6 77,877.7 94,775.6
- Herbs and Spices 17,293.9 18,266.2 21,346.5 24,768.5 27,145.4 30,418.3
- Pasta Sauces 383.6 655.8 863.9 1,176.0 1,587.9 2,041.9
Dips - - - - - -
Pickled Products 9,847.4 11,142.8 12,829.9 14,689.9 16,867.0 19,311.8
Table Sauces 11,830.9 13,886.1 15,987.8 18,328.9 21,052.4 23,964.8
- Ketchup 9,532.2 11,130.3 12,621.8 14,241.4 16,109.2 17,953.4
- Mayonnaise 1,280.0 1,560.0 1,940.0 2,400.0 2,920.2 3,632.0
- Mustard - - - - - -
- Salad Dressings 119.3 151.0 210.4 280.1 381.8 486.4
- Soy Sauces 181.9 201.6 224.9 252.9 290.2 323.3
- Chili Sauces 717.5 843.2 990.6 1,154.5 1,351.0 1,569.7
Other Sauces, Dressings 6,369.2 7,352.4 8,352.6 9,443.2 10,702.2 12,071.3
and Condiments
Sauces, Dressings and 81,397.9 95,571.1 114,074.5 134,301.4 155,547.8 182,946.8
Condiments
Table 44 Sales of Sauces, Dressings and Condiments by Category: % Volume Growth

2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Cooking Ingredients 12.6 13.0 84.3

- Bouillon - - -
-- Gravy Cubes and Powders - - -
-- Liquid Stocks and Fonds - - -
-- Stock Cubes and Powders - - -
- Dry Sauces 15.3 15.5 105.3
- Herbs and Spices 8.3 9.3 56.2
- Monosodium Glutamate - - -
- Pasta Sauces 19.4 27.9 242.4
- Cooking Sauces - - -
Dips - - -
Pickled Products 6.1 7.4 42.7
Table Sauces 7.8 9.7 58.8
- Barbecue Sauces - - -
- Fish Sauces - - -
- Ketchup 7.4 9.5 57.2
- Mayonnaise 14.0 14.0 92.4
- Mustard - - -
- Oyster Sauces - - -
- Salad Dressings 22.6 28.1 244.7
- Soy Sauces 6.9 8.3 49.1
- Chili Sauces 5.5 7.0 40.5

- Other Table Sauces - - -
Tomato Pastes and Purées 9.1 13.3 86.6
Yeast-based Spreads - - -
Other Sauces, Dressings and Condiments 7.6 9.2 55.0
Sauces, Dressings and Condiments 9.9 10.8 67.1
Table 45 Sales of Sauces, Dressings and Condiments by Category: % Value Growth

2013-2018

2017/18 2013-18 CAGR 2013/18 Total

- Bouillon - - -
- Dry Sauces 21.7 21.7 166.9
- Pasta Sauces 28.6 39.7 432.4
Dips - - -
Table Sauces 13.8 15.2 102.6
- Fish Sauces - - -
- Ketchup 11.4 13.5 88.3
- Mayonnaise 24.4 23.2 183.8
- Mustard - - -
- Soy Sauces 11.4 12.2 77.8
- Chili Sauces 16.2 16.9 118.8
Table 46 NBO Company Shares of Sauces, Dressings and Condiments: % Value 2014-
2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Mahashian Di Hatti Pvt 9.2 8.9 8.6 8.6 8.4
Ltd
Eastern Condiments Pvt 5.0 5.1 5.4 5.1 5.0
Ltd
DS Group 3.9 4.2 4.3 4.7 5.0
Desai Bros Ltd 4.2 3.9 3.8 3.8 3.6

MTR Foods Pvt Ltd 3.6 3.6 3.5 3.5 3.4
Sakthi Masala Pvt Ltd 3.5 3.5 3.4 3.5 3.4
Nestlé India Ltd 6.0 2.3 3.3 2.8 2.5
Ushodaya Enterprises 2.4 2.3 2.4 2.5 2.5
Pvt Ltd
Nilon's Enterprises Pvt 2.1 2.0 1.9 1.9 1.8
Ltd
Jhaveri Industries Ltd 1.6 1.5 1.5 1.5 1.5
Dr Oetker India Pvt Ltd 1.4 1.4 1.4 1.4 1.5
Dabur India Ltd 1.8 1.7 1.6 1.5 1.5
GD Foods Mfg (India) 1.3 1.3 1.3 1.3 1.3
Pvt Ltd
FieldFresh Foods Pvt Ltd 1.0 1.0 1.1 1.2 1.3
Ramdev Food Products Ltd 1.0 1.0 1.0 1.1 1.1
Krishna Chandra Datta 1.0 1.0 1.0 1.0 1.0
(Spice) Pvt Ltd
Aachi Masala Foods Pvt 1.0 1.0 1.0 1.0 1.0
Ltd
CavinKare Pvt Ltd 0.5 0.5 0.5 0.5 0.5
Mrs Bector's Food 0.2 0.2 0.3 0.3 0.3
Specialities Ltd
VP Bedekar & Sons 0.3 0.3 0.3 0.3 0.2
Bawa Masala Co (BMC) 0.2 0.2 0.2 0.2 0.2
Scandic Food India Pvt 0.2 0.2 0.2 0.2 0.1
Ltd
Pantaloon Retail India 0.2 0.1 0.1 0.1 0.1
Ltd
ADF Foods Ltd 0.1 0.1 0.1 0.1 0.1
Munimji Foods & Spices 0.1 0.1 0.1 0.1 0.1
Pvt Ltd
Aachi Spices & Foods 0.1 0.1 0.1 0.1 0.1
Pvt Ltd
Reliance Retail Ltd 0.1 0.1 0.1 0.1 0.1
Others 30.2 34.7 33.8 33.6 34.5
Total 100.0 100.0 100.0 100.0 100.0
Table 47 LBN Brand Shares of Sauces, Dressings and Condiments: % Value 2015-
2018
% retail value rsp

Everest S Narendrakumar & Co 12.5 12.6 13.0 13.4

MDH Mahashian Di Hatti Pvt Ltd 8.9 8.6 8.6 8.4
Eastern (Eastern Eastern Condiments Pvt 5.1 5.4 5.1 5.0
Group) Ltd
Catch DS Group 4.2 4.3 4.7 5.0
Mother's Recipe Desai Bros Ltd 3.9 3.8 3.8 3.6
Sakthi Sakthi Masala Pvt Ltd 3.5 3.4 3.5 3.4
Kissan (Unilever Hindustan Unilever Ltd 3.0 2.9 2.9 2.8
Group)
Priya Ushodaya Enterprises 2.3 2.4 2.5 2.5

Pvt Ltd
Nilon's Nilon's Enterprises Pvt 2.0 1.9 1.9 1.8
Ltd
Badshah Jhaveri Industries Ltd 1.5 1.5 1.5 1.5
Fun Foods (Oetker- Dr Oetker India Pvt Ltd 1.4 1.4 1.4 1.5
Gruppe)
Hommade Dabur India Ltd 1.7 1.6 1.5 1.5
Tops GD Foods Mfg (India) 1.3 1.3 1.3 1.3
Pvt Ltd
Del Monte (Del FieldFresh Foods Pvt Ltd 1.0 1.1 1.2 1.3
Monte Pacific Ltd)
Ramdev Ramdev Food Products Ltd 1.0 1.0 1.1 1.1
Cookme Krishna Chandra Datta 1.0 1.0 1.0 1.0
(Spice) Pvt Ltd
Aachi (Aachi Group) Aachi Masala Foods Pvt Ltd 1.0 1.0 1.0 1.0
Smith & Jones Capital Foods Ltd 0.8 0.7 0.7 0.7
Chinni CavinKare Pvt Ltd 0.4 0.4 0.4 0.4
Cremica Mrs Bector's Food 0.2 0.3 0.3 0.3
Specialities Ltd
Bedekar VP Bedekar & Sons 0.3 0.3 0.3 0.2
Ching's Secret Capital Foods Ltd 0.2 0.2 0.2 0.2
BMC Bawa Masala Co (BMC) 0.2 0.2 0.2 0.2
Ruchi CavinKare Pvt Ltd 0.1 0.1 0.1 0.1
Knorr (Unilever Hindustan Unilever Ltd 0.1 0.1 0.1 0.1
Group)
Soul ADF Foods Ltd 0.1 0.1 0.1 0.1
Tasty Treat Pantaloon Retail India 0.1 0.1 0.1 0.1
(Private Label) Ltd
Pushp Munimji Foods & Spices 0.1 0.1 0.1 0.1
Pvt Ltd
(Private Label)
Others Others 35.2 34.2 34.0 34.9
Total Total 100.0 100.0 100.0 100.0
Table 48 Distribution of Sauces, Dressings and Condiments by Format: % Value 2013-

2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 11.4 11.8 12.2 12.6 13.0 13.1
Retailers
--- Hypermarkets 4.2 4.6 5.0 5.3 5.7 5.8
--- Supermarkets 5.4 5.5 5.5 5.6 5.6 5.6
Retailers
--- Food/drink/tobacco - - - - - -
specialists
Grocers
--- Other Grocery 3.5 3.3 3.2 3.0 2.9 2.8

Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 49 Forecast Sales of Sauces, Dressings and Condiments by Category: Volume

2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Cooking Ingredients 308.5 351.7 402.9 460.1 527.4 606.1

- Bouillon - - - - - -
Powders
Fonds
Powders
- Dry Sauces 188.9 217.9 248.5 286.0 328.7 378.8
- Herbs and Spices 116.3 129.8 149.7 168.5 192.1 219.6
- Pasta Sauces 3.3 4.0 4.7 5.6 6.6 7.7
Dips - - - - - -
Pickled Products 100.1 103.1 104.2 103.4 102.1 99.8
Table Sauces 119.7 128.9 140.6 153.5 168.0 186.3
- Ketchup 106.5 114.3 124.4 135.6 148.0 164.1
- Mayonnaise 5.8 6.6 7.7 8.9 10.5 12.4
- Mustard - - - - - -
- Salad Dressings 1.5 1.8 2.1 2.5 2.9 3.3
- Soy Sauces 1.1 1.2 1.2 1.3 1.4 1.4
- Chili Sauces 4.9 5.0 5.2 5.3 5.3 5.2
Other Sauces, Dressings 71.7 76.9 82.6 88.2 93.8 99.7
and Condiments
Sauces, Dressings and 603.5 664.4 734.3 809.5 895.8 996.7
Condiments
trade sources
Table 50 Forecast Sales of Sauces, Dressings and Condiments by Category: Value

2018-2023
INR million
2018 2019 2020 2021 2022 2023
Cooking Ingredients 127,235.8 145,850.2 167,871.7 193,679.0 223,793.8 259,602.9

- Bouillon - - - - - -
Powders
Fonds
Powders
- Dry Sauces 94,775.6 109,667.5 126,100.6 146,301.4 169,355.9 196,342.7
- Herbs and Spices 30,418.3 33,688.7 38,736.8 43,700.5 50,017.1 57,987.3
- Pasta Sauces 2,041.9 2,494.0 3,034.3 3,677.0 4,420.9 5,273.0
Dips - - - - - -
Pickled Products 19,311.8 20,970.9 22,732.5 24,554.4 26,452.3 28,446.3
Table Sauces 23,964.8 25,958.8 28,342.9 31,096.9 34,238.7 37,870.3
- Ketchup 17,953.4 19,016.1 20,323.2 21,816.2 23,523.3 25,476.0
- Mayonnaise 3,632.0 4,297.5 5,105.5 6,089.6 7,263.3 8,698.0
- Mustard - - - - - -
- Salad Dressings 486.4 580.2 680.9 786.2 892.7 996.7
- Soy Sauces 323.3 342.4 359.4 375.6 390.6 402.5
- Chili Sauces 1,569.7 1,722.5 1,873.8 2,029.3 2,168.8 2,297.1
Other Sauces, Dressings 12,071.3 13,073.8 14,197.0 15,443.2 16,843.1 18,450.3
and Condiments
Sauces, Dressings and 182,946.8 206,248.7 233,572.0 265,234.7 301,820.9 344,891.8
Condiments
trade sources
Table 51 Forecast Sales of Sauces, Dressings and Condiments by Category: %

Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

- Bouillon - - -
- Dry Sauces 15.3 14.9 100.5
- Pasta Sauces 19.5 18.3 131.4
Dips - - -
Pickled Products 3.0 -0.1 -0.3
- Fish Sauces - - -
- Ketchup 7.4 9.0 54.1
- Mayonnaise 13.8 16.4 113.6
- Mustard - - -
- Soy Sauces 6.3 4.8 26.3
trade sources
Table 52 Forecast Sales of Sauces, Dressings and Condiments by Category: % Value

Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

- Bouillon - - -
- Dry Sauces 15.7 15.7 107.2
- Pasta Sauces 22.1 20.9 158.2
Dips - - -
- Fish Sauces - - -
- Ketchup 5.9 7.2 41.9
- Mayonnaise 18.3 19.1 139.5
- Mustard - - -
- Soy Sauces 5.9 4.5 24.5
trade sources
SOUP IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 Soup current value sales rise by 13% in 2018 to reach INR6.2 billion
 Growing flavour variety and popularity of smaller pack sizes continue to boost the
development of soup
 Dehydrated soup registers the strongest current value growth rate of 14%
 Overall average unit price for soup increases by 4% in current value terms
 Hindustan Unilever Ltd retains its strong lead in soup in 2018 with a retail value share of 53%
 Soup value sales at constant 2018 prices are expected to record a CAGR of 7% over the
forecast period to reach INR8.5 billion in 2023
PROSPECTS
Soup Consumption Continues To Grow Steadily in India

Soup consumption in India has risen steadily in recent years in line with increasingly hectic
lifestyles and the growing willingness of local consumers to experiment with different types of
food. These trends continued to support healthy growth in soup current value sales in 2018,
though the category remained relatively small as compared to other countries such as China
and Japan. The category’s performance was further bolstered by increasing consumer exposure
to different types of soup via foodservice menus, as well as by growing appreciation for the
convenience of smaller and single-serve packs. Moreover, significant investment in mass media
and in-store promotional campaigns by manufacturers like Capital Foods and Hindustan
Unilever helped to raise awareness of soup products among consumers. Such companies
continued to leverage their supply chain capabilities to secure prominent shelf space for their
brands in both modern and traditional grocery retailers outlets. Independent small grocers
remained the dominant distribution channel for soup in 2018, with hypermarkets and
supermarkets placing second and third, respectively. It is expected that independent small
grocers will continue to dominate distribution over the forecast period.
Flavours Could Be A Key Differentiating Factor for Soup Manufacturers

Tomato remained the most popular flavour within soup in India in 2018. However, in recent
years the category has seen an influx of new flavours, including classic international options
such as thick tomato, mixed vegetable, sweet corn, hot and sour, manchow and schezchow.
Manufacturers have also experimented with more exotic and sophisticated flavours that are
popular in foodservice channels, such as strawberry gazpacho, Tuscan-style seafood broth and
braised lamb with barley and goat cheese. Most flavour variants introduced over the review
period are offered in single-serve and family-sized packs, which has helped to increase
acceptance among consumers. Mild and spicy flavours from Western and Southeast Asian
countries have been particularly well received, thanks in part to the healthy living trend. Because
Indian consumers tend to be quite price-sensitive, soup manufacturers generally offer smaller
pack sizes of 11-45g that contain 1-4 servings and retail for between INR10 and INR55.
Dehydrated Soup Remains the Largest and Most Dynamic Category

Dehydrated soup remained the dominant soup category in India in value terms in 2018, and
was also the most dynamic performer in terms of current value sales growth. This reflected the
fact that dehydrated soup is convenient, easy to prepare and generally perceived to be healthier
than other product types. In addition, many Indians consume dehydrated soup when they are
suffering from cold and flu symptoms. Dehydrated soup is especially popular in first- and
second-tier cities in India. Independent small grocers remained the most important retail
distribution channel for soup in 2018, followed by hypermarkets and supermarkets.
Hindustan Unilever Maintains Its Commanding Lead in Soup

While growth in its overall current value sales slowed slightly as compared to 2017, Hindustan
Unilever remained the clear leader in soup in India in 2018. The company offers an extensive
range of products in different flavours under its Knorr brand. Most of its soup products are
available in smaller and single-serve pack sizes. In recent years, the company has leveraged its
supply chain expertise in an effort to drive demand for its soup products in second- and third
tier-cities in India. It has also attempted to gain a competitive advantage in soup and other
categories by investing in e-commerce initiatives.
Capital Foods Registers Dynamic Growth in Current Value Sales in

2018
Capital Foods was the second leading player in soup in 2018. Despite recording impressive
double-digit growth in current value sales, it remained well behind category leader Hindustan
Unilever. Nonetheless, it continued to perform strongly thanks to the expansion of its product
portfolio and considerable efforts to boost sales, especially in second- and third tier-cities. These
efforts included aggressive promotional campaigns to raise awareness of its Ching’s brand,
under which it offers a wide range of soup products in classic and more exotic flavours.
However, the company’s primary focus in this category is on offering Chinese “desi” soup
products.
In 2016, Capital Foods signed Bollywood actor Ranveer Singh, star of the popular movie
Ranveer Ching Returns, as brand ambassador for Ching’s. In addition to running in-store
promotions, towards the end of the review period the company also promoted the Ching’s brand
on the Kapil Sharma Show, which is broadcast on the Sony TV channel.
Nestlé Leverages Brand Value of Maggi To Boost Sales in Soup

Nestlé India Ltd was the third leading player in soup in 2018. The company continued to
register healthy growth in current value sales thanks to strong promotional support for its Maggi
brand, which is most closely associated with instant noodles in India but also competes in soup.
During the year, the company launched new TV advertisements intended to portray it as a
transparent organisation that believes women are harbingers of change in India. It is expected
that this strategy will help to improve the image of the Maggi brand, which suffered reputational
damage in 2015 due to issues pertaining to low product quality. 2018 also saw Nestlé partner
with e-commerce operator Flipkart to market its products on the latter’s online platform. These
activities should help to bolster the performance of Maggi in soup over the forecast period,
though this category is expected to remain a relatively small contributor to the brand’s overall
revenue in India.
CATEGORY DATA
Table 53 Sales of Soup by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Shelf Stable Soup 1.5 1.5 1.5 1.5 1.5 1.5

Chilled Soup - - - - - -
Dehydrated Soup 4.7 5.5 6.2 7.0 7.9 8.7
Frozen Soup - - - - - -
Instant Soup 1.1 1.2 1.3 1.5 1.6 1.7
Soup 7.2 8.1 9.0 9.9 11.0 11.9
Table 54 Sales of Soup by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018

Dehydrated Soup 2,533.0 3,054.2 3,560.5 4,142.1 4,824.0 5,496.4
Instant Soup 243.6 293.1 333.6 379.8 432.9 482.4
Soup 2,934.6 3,511.3 4,063.1 4,696.9 5,438.1 6,169.4
Table 55 Sales of Soup by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Shelf Stable Soup 1.0 0.7 3.7

Chilled Soup - - -
Dehydrated Soup 10.5 13.1 85.3
Frozen Soup - - -
Instant Soup 6.5 9.8 59.7
Soup 8.6 10.6 65.1
Table 56 Sales of Soup by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Chilled Soup - - -
Frozen Soup - - -
Soup 13.4 16.0 110.2
Table 57 Sales of Soup by by Leading Flavours: Rankings 2013-2018
ranking
2013 2014 2015 2016 2017 2018
Tomato 1 1 1 1 1 1
Sweet Corn 2 2 2 2 2 2
Vegetable 3 3 3 3 3 3
Chicken 4 4 4 4 4 4
Mushroom 5 5 5 5 5 5
Chicken Noodles 7 7 6 6 6 6
Hot & Sour 6 6 7 7 7 7
Table 58 NBO Company Shares of Soup: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Nestlé India Ltd 18.5 16.9 17.3 16.8 16.3
Ltd
Ltd
MTR Foods Pvt Ltd 0.5 0.4 0.4 0.4 0.4
Weikfield Products Co 0.1 0.1 0.1 0.1 0.1
(India) Pvt Ltd
Delicia Foods India Pvt 0.1 0.1 0.1 0.1 0.1
Ltd
Advani Agencies 0.1 0.0 0.0 0.0 0.0
Others 11.6 13.6 10.6 8.4 7.2
Total 100.0 100.0 100.0 100.0 100.0
Table 59 LBN Brand Shares of Soup: % Value 2015-2018
% retail value rsp


Group)
Ltd
Sil (Good Food Scandic Food India Pvt 1.7 1.8 1.9 2.0
Group A/S) Ltd
Campbell's Weikfield Products Co 0.1 0.1 0.1 0.1
(Campbell Soup Co) (India) Pvt Ltd
Delicia Delicia Foods India Pvt 0.1 0.1 0.1 0.1
Ltd
Green Diamond Advani Agencies 0.0 0.0 0.0 0.0
Others Others 13.6 10.6 8.4 7.2
Total Total 100.0 100.0 100.0 100.0
Table 60 Distribution of Soup by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 29.7 29.7 29.5 29.4 27.6 27.5
Retailers
--- Hypermarkets 17.1 17.3 17.3 17.4 16.4 16.3
--- Supermarkets 12.4 12.2 12.0 11.9 11.1 11.1
Retailers
specialists
Grocers
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 61 Forecast Sales of Soup by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023

Dehydrated Soup 8.7 9.6 10.4 11.2 12.1 12.9

Instant Soup 1.7 1.8 1.9 1.9 2.0 2.0
Soup 11.9 12.9 13.8 14.8 15.7 16.6
Source: Official statistics, trade associations, trade press, company research, Euromonitor International
estimates
Table 62 Forecast Sales of Soup by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023

Dehydrated Soup 5,496.4 5,926.6 6,362.3 6,799.3 7,234.0 7,662.0
Instant Soup 482.4 508.7 533.9 557.8 574.9 587.0
Soup 6,169.4 6,632.8 7,101.9 7,569.4 8,028.5 8,476.0
estimates
Table 63 Forecast Sales of Soup by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Chilled Soup - - -
Frozen Soup - - -
Soup 7.8 6.8 38.9
estimates
Table 64 Forecast Sales of Soup by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Chilled Soup - - -
Frozen Soup - - -
Soup 7.5 6.6 37.4
estimates
SWEET SPREADS IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 Sweet spreads current value sales grow by 15% in 2018 to reach INR20.5 billion
 New varieties of sweet spreads gain popularity among consumers in India
 Nut and seed based spreads records the highest current value growth rate of 25%
 Overall average unit price for sweet spreads increases by 11% in current value terms
 Dabur India Ltd continues to lead sweet spreads in 2018 with a value share of 23%
 Sweet spreads value sales at constant 2018 prices are expected to record a CAGR of 11%
over the forecast period to reach INR34.8 billion in 2023
PROSPECTS
Rising Consumption of Honey Supports Positive Development of Sweet

Spreads
Sustained demand in honey, by far the largest category, was the main driver of growth in
sweet spreads current value sales in 2018. Honey is known to have significant health benefits
and medicinal properties, and is considered to be a natural substitute for sugar. These attributes
contributed to the Indian government’s decision to request that states serve honey as part of
midday meals in schools in 2018. Competition in honey intensified towards the end of the review
period as companies like Rasna launched new products, developed partnerships with online
retailers and expanded distribution networks. Such activities helped the category to maintain
robust growth in current value sales in 2018.
Nut and Seed Based Spreads Is the Most Dynamic Category in 2018
Nut and seed based spreads was the most dynamic sweet spreads category in current value
growth terms in 2018. This performance was supported by rising demand for product types such
as peanut butter, almond spreads and cashew spreads. In particular, such products continued
to gain popularity among children and teenagers, who like to consume them with many different
types of Indian and Western breads. Rising health awareness also had a positive influence on
the development of the category, with some doctors and dieticians even recommending that
certain types of nut and seed based spreads should be consumed daily due to the fact that they
are a good source of fats and proteins. Moreover, consumers responded positively to the launch
of new products, including new almond and cashew spreads. Jams and preserves meanwhile
benefited from the growing popularity of flavours like strawberry, blueberry and cranberry.
Because they are made from real fruits, nuts and seeds, products in these categories are
considered to be healthier than other types of spreads such as butter and margarine, which tend
to be high in fat.
Jams and Preserves Gain Popularity Among Younger Consumers

Rising consumption among children, teenagers and young adults supported robust growth in
current value sales for jams and preserves in 2018. Mixed fruits remained the most popular
flavour choice in the category, followed by pineapple, orange and mango. Chocolate spreads
also performed strongly in 2018, registering double-digit growth in current value sales. The
growing popularity of chocolate generally in India is increasingly leading consumers to
experiment with different product types and formats, including chocolate spreads.
Independent small grocers remained the dominant distribution channel for sweet spreads in
India in 2018. However, modern grocery retailers such as hypermarkets and supermarkets
continued to make value share gains within the category.
Dabur India Ltd Continues To Lead Sweet Spreads in India

Dabur India Ltd, which offers the Dabur Honey brand, remained the overall leader in sweet
spreads in value terms in 2018, and posted healthy growth in current value sales. The company
continued to aggressively market Dabur Honey across India throughout the year. In August
2018, it announced that it had signed Jacqueline Fernandez as a brand ambassador for Dabur
Honey. This agreement is a part of the company’s new “Stay Fit, Feel Young” campaign, which
aims to tap into rising health awareness among the Indian population. This campaign comes
amidst a backdrop of growing complaints from consumers that many honey products sold in
India are not pure. These complaints recently led the Food Safety and Standards Authority of
India (FSSAI) to order the testing of a number of popular honey brands for authenticity, including
Dabur, Zandu and Patanjali.
Intensive Promotional Activities Support Strong Performance by

Patanjali Ayurved Ltd
Patanjali Ayurved Ltd was the second leading player in sweet spreads in 2018. It recorded
strong double-digit growth in current value sales over 2017-2018, thanks in part to a raft of new
marketing and advertising initiatives. In 2017, the company reported a year-on-year increase of
23% in its spending on TV advertisements. In 2018, it continued to successfully capitalise on the
popularity of “Made in India” campaigns by aggressively positioning itself as a local company
offering natural and organic products. It also engaged in promotional activities that highlighted
the purity and health benefits of its honey brand Patanjali. Moreover, 2018 saw the company
announce new partnerships with eight major online retailers, including Amazon, Flipkart and
Bigbasket. It also signed an agreement with the government of Uttar Pradesh to sell its products
through cooperatives.
Hindustan Unilever Ltd Maintains Its Dominance in Jams and Preserves

Hindustan Unilever Ltd remained the dominant player in jams and preserves in India in 2018.
It continued to record robust growth in current value sales within the category thanks to strong
brand recall among consumers and the success of various promotional strategies and
innovations. In 2016, for instance, the company launched the Kissan Blast range of berry-
flavoured jams, which offers several different sour and sweet flavour variants. This launch was
supported by a TV advertising campaign with the tagline “enjoy the best of both worlds”. 2018
saw Hindustan Unilever make significant investments in e-commerce. The company believes
these investments will give it a competitive advantage by enabling closer cooperation with
leading online retailers and facilitating the rapid upscaling of its business in India.
CATEGORY DATA
Table 65 Sales of Sweet Spreads by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Honey 12.9 13.7 14.6 15.4 18.8 19.0

Chocolate Spreads 1.0 1.1 1.3 1.5 1.8 2.1
Jams and Preserves 10.0 10.2 10.3 10.5 10.6 10.7
Nut and Seed Based 1.5 2.0 2.5 3.0 3.8 4.4
Spreads
Sweet Spreads 25.4 27.1 28.7 30.5 35.0 36.2
Table 66 Sales of Sweet Spreads by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Honey 4,198.3 5,156.5 6,235.0 7,634.0 10,771.7 12,212.5

Chocolate Spreads 570.0 719.0 876.0 1,078.0 1,336.8 1,617.8
Jams and Preserves 2,345.2 2,631.3 2,928.3 3,247.6 3,604.9 3,939.3
Nut and Seed Based 635.5 953.8 1,246.4 1,651.0 2,176.7 2,717.0
Spreads
Sweet Spreads 7,749.0 9,460.6 11,285.7 13,610.6 17,890.1 20,486.6
Table 67 Sales of Sweet Spreads by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Honey 1.2 8.0 47.0

Chocolate Spreads 14.3 16.7 116.3
Jams and Preserves 1.2 1.4 7.3
Nut and Seed Based Spreads 16.6 23.3 185.0
Sweet Spreads 3.6 7.3 42.4
Table 68 Sales of Sweet Spreads by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Honey 13.4 23.8 190.9

Table 69 Sales of Jams and Preserves by Leading Flavours: Rankings 2013-2018
ranking
2013 2014 2015 2016 2017 2018
Apple 7 6 5 5 - -
Blackcurrant 9 9 9 9 - -
Guava 8 8 8 8 - -
Mango 4 4 4 4 - -
Mixed Fruits 1 1 1 1 - -
Orange 3 3 3 3 - -
Peach 10 10 10 10 - -
Pineapple 2 2 2 2 - -
Raspberry 6 7 7 7 - -
Strawberry 5 5 6 6 - -
Table 70 NBO Company Shares of Sweet Spreads: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Dabur India Ltd 30.3 30.0 27.9 24.1 23.1

Ferrero India Pvt Ltd 6.8 6.8 6.8 6.2 6.4
Apis India Ltd 4.4 4.5 4.6 4.3 4.1
Mala's Fruit Products 2.5 2.4 2.3 2.0 1.8
Dr Oetker India Pvt Ltd 1.6 1.7 1.7 1.5 1.5
Mapro Foods Pvt Ltd 1.3 1.3 1.2 1.0 1.0
Ltd
ITC Ltd 1.2 1.2 1.1 0.9 0.9
Ltd
Hebbar & Co 0.9 1.0 0.9 0.8 0.8
Bajoria Foods Pvt Ltd 1.0 1.0 0.9 0.8 0.8
Hormel Foods Sales LLC - - 0.6 0.6 0.7
General Mills India Pvt 0.5 0.6 0.6 0.5 0.5
Ltd
United Foods Ltd 0.2 0.3 0.3 0.3 0.3
Tai Industries Ltd 0.4 0.3 0.3 0.2 0.2
Vegetable Pvt Ltd
Oswal Organics Pvt Ltd - 0.1 0.1 0.1 0.2
Charak Piramal 0.2 0.2 0.2 0.1 0.1
Healthcare Pvt Ltd
Maharashtra Agro 0.1 0.1 0.0 0.0 0.0
Industries Development
Corp
Emami Ltd - - - - -
Himalaya Drug Co, The - - - - -

Others 15.1 15.0 15.3 13.9 14.7
Total 100.0 100.0 100.0 100.0 100.0
Table 71 LBN Brand Shares of Sweet Spreads: % Value 2015-2018
% retail value rsp

Dabur Dabur India Ltd 30.0 27.9 24.1 23.1

Kissan (Unilever Hindustan Unilever Ltd 16.8 15.3 13.1 12.6
Group)
Nutella Hazelnut Ferrero India Pvt Ltd 6.8 6.8 6.2 6.4
Choco Spread
(Ferrero & related
parties)
Sundrop (ConAgra Agro Tech Foods Ltd - 3.8 3.9 4.2
Brands Inc)
Apis Apis India Ltd 4.5 4.6 4.3 4.1
Mala's Mala's Fruit Products 2.4 2.3 2.0 1.8
Funfoods Peanut Dr Oetker India Pvt Ltd 1.7 1.7 1.5 1.5
Butter (Oetker-
Gruppe)
Mapro Mapro Foods Pvt Ltd 1.3 1.2 1.0 1.0
(ITC Group)
Group A/S) Ltd
Hebbar Hebbar & Co 1.0 0.9 0.8 0.8
American Garden Bajoria Foods Pvt Ltd 1.0 0.9 0.8 0.8
Peanut Butter
(American Garden
Products Inc)
Skippy Peanut Hormel Foods Sales LLC - 0.6 0.6 0.7
Butter (Hormel
Foods Corp)
Fresh & Pure Pantaloon Retail India 0.8 0.7 0.6 0.6
(Private Label) Ltd
Pillsbury (General General Mills India Pvt 0.6 0.6 0.5 0.5
Mills Inc) Ltd
(Private Label) Ltd
Nutty Peanut Butter United Foods Ltd 0.3 0.3 0.3 0.3
Druk (Tashi Group) Tai Industries Ltd 0.3 0.3 0.2 0.2
Safal (National Mother Dairy Fruit & 0.3 0.2 0.2 0.2
Board)
Barney Oswal Organics Pvt Ltd 0.1 0.1 0.1 0.2
Charak Honey Charak Piramal 0.2 0.2 0.1 0.1
Healthcare Pvt Ltd
Noga Maharashtra Agro 0.1 0.0 0.0 0.0
Industries Development
Corp
Sundrop (ConAgra Agro Tech Foods Ltd 3.7 - - -
Foods Inc)
Skippy Peanut Hindustan Unilever Ltd 0.5 - - -
Butter (Hormel
Foods Corp)
Royal Bee Emami Ltd - - - -
Himalaya Himalaya Drug Co, The - - - -
Skippy Peanut Hindustan Unilever Ltd - - - -
Butter (Unilever
Group)
(Private Label)
Others Others 15.0 15.3 13.9 14.7
Total Total 100.0 100.0 100.0 100.0
Table 72 Distribution of Sweet Spreads by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 12.5 12.6 12.7 12.4 11.5 11.6
Retailers
--- Hypermarkets 6.5 6.6 6.6 6.4 5.5 5.4
--- Supermarkets 4.8 4.9 5.0 4.9 5.0 5.2
Retailers
specialists
Grocers
--- Other Grocery 3.5 3.6 3.6 3.6 3.5 3.3
Retailers
- Non-Grocery Specialists - - - - 0.0 -
-- Other Foods Non- - - - - 0.0 -
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 73 Forecast Sales of Sweet Spreads by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Honey 19.0 19.9 20.6 21.1 21.4 21.6
Chocolate Spreads 2.1 2.3 2.6 2.8 3.0 3.1

Jams and Preserves 10.7 10.9 11.1 11.3 11.4 11.5
Nut and Seed Based 4.4 5.1 5.8 6.7 7.5 8.4
Spreads
Sweet Spreads 36.2 38.3 40.1 41.8 43.3 44.7
trade sources
Table 74 Forecast Sales of Sweet Spreads by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Honey 12,212.5 13,925.9 15,680.5 17,580.5 19,627.2 21,818.3

Chocolate Spreads 1,617.8 1,852.5 2,100.9 2,328.7 2,588.7 2,865.3
Jams and Preserves 3,939.3 4,099.7 4,244.6 4,374.2 4,466.4 4,538.9
Nut and Seed Based 2,717.0 3,214.9 3,742.6 4,321.1 4,947.9 5,594.7
Spreads
Sweet Spreads 20,486.6 23,093.0 25,768.6 28,604.5 31,630.1 34,817.2
trade sources
Table 75 Forecast Sales of Sweet Spreads by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Honey 5.0 2.6 13.7

trade sources
Table 76 Forecast Sales of Sweet Spreads by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Honey 14.0 12.3 78.7

trade sources
BABY FOOD IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 In 2018 baby food records retail current value growth of 13% to reach sales of INR53.2 billion
 Mothers become more confident choosing the right food for their babies
 Growing-up milk formula registers the strongest retail current value growth of 24%
 Average unit price rises by 10% in current terms in dried baby food and 15% in growing-up
milk formula
 Nestlé India continues to dominate baby food with a retail value share of 60%
 Over the forecast period baby food is expected to post a value CAGR of 4% at constant 2018
prices to reach sales of INR65.6 billion in 2023
PROSPECTS
Stringent Government Regulations Keep Baby Food in Check

Through the Infant Milk Substitutes (IMA) Act of 1992, the Indian government seeks to
promote breastfeeding by controlling the promotional activities of baby food manufacturers,
especially with regard to infant milk formula. The act completely prohibits baby food
manufacturers from engaging in any type of promotion or marketing for infant formula. Several
non-governmental organisations, such as the Breastfeeding Promotion Network of India (BPNI),
have joined hands to promote breast milk as best for babies. Despite such efforts by the
government, baby food manufacturers approach doctors and paediatricians through their
medical representatives to promote their products. Hence, it is often suggested to new mothers
that they buy a specific milk formula depending on the needs of their babies. Another
consequence of such regulations is a lack of new product development in standard and follow-
on milk formula from the leading players. Indeed, the rules are expected to become stricter in
the coming years as the Food Safety and Standards Authority of India (FSSAI) drafted a new
regulation for all baby food in December 2017.
Mothers Become More Confident Choosing the Right Food for Their
Babies
Second-time mothers are finding it easier to choose dried baby food and infant formula
following their experiences with their first born, albeit still after consulting a doctor or
paediatrician. In addition, more educated mothers are extensively researching products online
via social media platforms and parenting forums. When choosing dried baby food, they have
become very particular about flavours, ingredients and brand name. In the case of milk formula,
products for different age groups, nutritional information and brand name are thoroughly
scrutinised before purchase. First-time mothers initially depend on doctors when choosing the
right food for their babies but over time become more confident making their own choices. This
increase in confidence is having a positive impact on the growth of baby food in India. Word-of-
mouth recommendations, advice from more experienced mothers and comments and feedback
on social media are all helping to support the further development of the category.
Tax Revisions Helps Weaken Unit Price Growth in Dried Baby Food
With the introduction of a Goods and Services Tax (GST) in 2017 and its subsequent revision
in 2018, the tax on baby food was reduced by 2%. The benefits were passed on to consumers
in the form of lower prices. Infant milk formula was brought under the 5% tax bracket following
the revision. However, manufacturers had increased the unit prices of various infant milk
formulas by 8-11% over the review period, and given the strict regulations on the promotion and
marketing of infant milk formula, there was no significant increase in unit price in 2018. This
served to slightly weaken the growth of infant milk formula in 2018 when compared to the review
period average.
Nestlé Continues To Dominate Baby Food

Thanks to popular brands such as Cerelac and Lactogen, Nestlé continued to dominate baby
food in 2018. The company, which has been present in India for decades, has established itself
as a trusted manufacturer of baby food. Nestlé offers a range of baby foods to meet the needs
of different age groups. In addition, the company benefits from a strong distribution network.
However, in 2018, the company continued to lose share as many urban parents wanted to try
out new products. A lack of innovation due to existing products meeting the needs of local
parents has been another factor impacting the performance of Nestlé in baby food.
Wattle Health Enters Baby Food in India

The Australian dairy manufacturer Wattle Health entered baby food in India in early 2018. The
company secured a deal with Vasudevan and Sons, a local distributor in Chennai, to initially sell
dried baby food and prepared baby food, while looking to also offer infant formula at a later date.
The entry of a new player will pose a strong challenge to existing manufacturers. However,
Wattle Health itself will face challenges due to restrictions on the promotion of baby food in
India, although growth could be supported by mothers’ increasing willingness to explore new
baby food options. The company has an edge over other manufacturers as it is offering
prepared baby food, the range of which is currently very limited in India.
Reckitt Benckiser Group the Best Performer in Baby Food

The best performing company in baby food in GBO terms in 2018 was Reckitt Benckiser
Group (RB), closely followed by Abbott Laboratories. RB acquired Mead Johnson Nutrition in
early 2017 to enter baby food in India. Although the company has a low sales base, its Enfamil
and Enfapro were two of the fastest growing brands in milk formula in 2018, along with Abbott
Laboratories’ Similac and PediaSure. At the end of 2017, Abbott also launched PediaSure
Nutrishake, a healthy and tasty snack for children over the age of two in a ready to drink format,
which was well received in India.
CATEGORY DATA
Table 77 Sales of Baby Food by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Dried Baby Food 28.5 29.7 30.8 32.2 33.2 34.2

Prepared Baby Food - - - - - -
Other Baby Food 5.6 6.0 6.3 6.7 7.1 7.6
Milk Formula 24.7 25.4 26.1 26.9 27.8 28.5
- Standard Milk Formula 11.1 11.4 11.7 11.8 12.0 12.1
-- Liquid Standard Milk - - - - - -
Formula
-- Powder Standard Milk 11.1 11.4 11.7 11.8 12.0 12.1
Formula
- Follow-on Milk Formula 10.7 11.0 11.3 11.8 12.2 12.6
-- Liquid Follow-on - - - - - -
Milk Formula
-- Powder Follow-on 10.7 11.0 11.3 11.8 12.2 12.6
Milk Formula
- Growing-Up Milk Formula 2.5 2.5 2.6 2.8 3.0 3.2
-- Liquid Growing-Up - - - - - -
Milk Formula
-- Powder Growing-Up 2.5 2.5 2.6 2.8 3.0 3.2
Milk Formula
- Special Baby Milk 0.5 0.5 0.5 0.5 0.6 0.6
Formula
-- Liquid Special Baby - - - - - -
Milk Formula
-- Powder Special Baby 0.5 0.5 0.5 0.5 0.6 0.6
Milk Formula
Baby Food 58.8 61.1 63.2 65.9 68.1 70.3
Table 78 Sales of Baby Food by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Dried Baby Food 11,664.2 13,530.5 15,676.4 18,463.5 20,882.3 23,555.2

Other Baby Food 464.3 506.1 547.1 588.1 632.8 680.7
Milk Formula 15,389.0 17,658.2 20,052.3 22,662.3 25,623.4 28,994.4
- Standard Milk Formula 7,957.0 9,082.0 10,335.0 11,714.0 13,201.7 14,856.5
Formula
-- Powder Standard Milk 7,957.0 9,082.0 10,335.0 11,714.0 13,201.7 14,856.5
Formula
- Follow-on Milk Formula 6,298.0 7,277.0 8,237.0 9,175.0 10,269.0 11,512.7
Milk Formula
-- Powder Follow-on 6,298.0 7,277.0 8,237.0 9,175.0 10,269.0 11,512.7
Milk Formula
- Growing-Up Milk Formula 858.6 984.0 1,123.6 1,367.0 1,687.7 2,094.4
Milk Formula
-- Powder Growing-Up 858.6 984.0 1,123.6 1,367.0 1,687.7 2,094.4
Milk Formula
Formula
Milk Formula
Milk Formula
Baby Food 27,517.5 31,694.7 36,275.7 41,714.0 47,138.5 53,230.3
Table 79 Sales of Baby Food by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Dried Baby Food 2.9 3.7 20.0

Prepared Baby Food - - -
Other Baby Food 5.7 6.3 35.5
Milk Formula 2.8 2.9 15.4
- Standard Milk Formula 0.9 1.6 8.5
-- Liquid Standard Milk Formula - - -
-- Powder Standard Milk Formula 0.9 1.6 8.5
- Follow-on Milk Formula 3.5 3.5 18.7
-- Liquid Follow-on Milk Formula - - -
-- Powder Follow-on Milk Formula 3.5 3.5 18.7
- Growing-Up Milk Formula 7.7 5.6 31.2
-- Liquid Growing-Up Milk Formula - - -
-- Powder Growing-Up Milk Formula 7.7 5.6 31.2
- Special Baby Milk Formula 3.9 4.2 23.0
-- Liquid Special Baby Milk Formula - - -
-- Powder Special Baby Milk Formula 3.9 4.2 23.0
Baby Food 3.2 3.6 19.5
Table 80 Sales of Baby Food by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Baby Food 12.9 14.1 93.4
Table 81 NBO Company Shares of Baby Food: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Nestlé India Ltd 64.9 64.6 62.9 61.4 59.5

Nutricia International 10.7 11.2 11.3 11.4 11.5
Pvt Ltd
Raptakos Brett & Co Ltd 4.6 4.2 3.9 3.7 3.5
Abbott India Ltd 2.4 2.4 2.6 2.8 3.1
Abbott Laboratories Inc 2.8 2.8 2.8 2.9 3.1
Mead Johnson Nutrition 0.8 1.1 1.3 1.4 1.5
India Pvt Ltd
Wockhardt Ltd - - - - -
Others 13.8 13.6 15.3 16.5 17.8
Total 100.0 100.0 100.0 100.0 100.0
Table 82 LBN Brand Shares of Baby Food: % Value 2015-2018
% retail value rsp

Cerelac (Nestlé SA) Nestlé India Ltd 30.9 30.0 29.0 27.8
Lactogen (Nestlé SA) Nestlé India Ltd 16.5 15.9 15.5 14.9
Nan (Nestlé SA) Nestlé India Ltd 8.4 8.2 8.3 8.4
Dexolac (Danone, Nutricia International 6.7 6.7 6.8 6.8
Groupe) Pvt Ltd
Nestum (Nestlé SA) Nestlé India Ltd 5.5 5.3 5.1 4.9
Lactodex (Bombay Raptakos Brett & Co Ltd 4.1 3.8 3.6 3.4
Oxygen Corp Ltd)
Nestogen (Nestlé SA) Nestlé India Ltd 3.3 3.3 3.3 3.3
PediaSure (Abbott Abbott India Ltd 2.4 2.6 2.8 3.1
Laboratories Inc)
Similac Abbott Laboratories Inc 2.8 2.8 2.9 3.1
Farex (Danone, Nutricia International 2.5 2.5 2.6 2.7
Groupe) Pvt Ltd
Nusobee (Danone, Nutricia International 0.9 0.9 1.0 1.0
Groupe) Pvt Ltd
Enfapro (Reckitt Mead Johnson Nutrition - - 0.7 0.8
Benckiser Group Plc India Pvt Ltd
(RB))
Enfamil (Reckitt Mead Johnson Nutrition - - 0.6 0.7
Benckiser Group Plc India Pvt Ltd
(RB))
Easum (Danone, Nutricia International 0.5 0.5 0.5 0.6
Groupe) Pvt Ltd
First Food (Danone, Nutricia International 0.6 0.6 0.6 0.5
Groupe) Pvt Ltd
Neslac (Nestlé SA) Nestlé India Ltd 0.1 0.1 0.2 0.2
Veelac (Bombay Raptakos Brett & Co Ltd 0.1 0.1 0.1 0.1
Oxygen Corp Ltd)
Enfapro (Mead Mead Johnson Nutrition 0.6 0.7 - -
Johnson Nutrition Co) India Pvt Ltd
Enfamil (Mead Mead Johnson Nutrition 0.5 0.6 - -
Johnson Nutrition Co) India Pvt Ltd
Dexolac Wockhardt Ltd - - - -
Easum Wockhardt Ltd - - - -
Farex (Heinz Co, HJ) Wockhardt Ltd - - - -

First Food Wockhardt Ltd - - - -
Others Others 13.6 15.3 16.5 17.8
Total Total 100.0 100.0 100.0 100.0
Table 83 Distribution of Baby Food by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 8.7 8.9 9.2 9.4 10.0 10.3
Retailers
--- Hypermarkets 2.0 2.0 2.1 2.2 2.5 2.6
--- Supermarkets 5.9 6.0 6.1 6.2 6.6 6.8
Retailers
specialists
Grocers
Retailers
Grocery Specialists
Non-Store Retailing - - - 1.2 2.5 3.7
- Vending - - - - - -
- Internet Retailing - - - 1.2 2.5 3.7
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 84 Forecast Sales of Baby Food by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Dried Baby Food 34.2 35.1 36.1 37.1 38.0 39.0

Other Baby Food 7.6 7.9 8.3 8.6 9.0 9.2
Milk Formula 28.5 29.3 30.0 30.7 31.3 31.9
- Standard Milk Formula 12.1 12.2 12.3 12.3 12.3 12.3
Formula
-- Powder Standard Milk 12.1 12.2 12.3 12.3 12.3 12.3
Formula
- Follow-on Milk Formula 12.6 13.1 13.5 14.0 14.4 14.9
Milk Formula
-- Powder Follow-on 12.6 13.1 13.5 14.0 14.4 14.9
Milk Formula
- Growing-Up Milk Formula 3.2 3.4 3.6 3.7 3.9 4.0
Milk Formula
-- Powder Growing-Up 3.2 3.4 3.6 3.7 3.9 4.0
Milk Formula
Formula
Milk Formula
Milk Formula
Baby Food 70.3 72.4 74.4 76.4 78.3 80.1
trade sources
Table 85 Forecast Sales of Baby Food by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Dried Baby Food 23,555.2 25,093.4 26,454.2 27,594.9 28,479.7 29,077.5

Other Baby Food 680.7 691.3 694.6 690.4 678.7 659.9
Milk Formula 28,994.4 30,967.7 32,704.4 34,137.2 35,208.5 35,869.4
- Standard Milk Formula 14,856.5 15,768.3 16,539.3 17,141.1 17,551.2 17,752.1
Formula
-- Powder Standard Milk 14,856.5 15,768.3 16,539.3 17,141.1 17,551.2 17,752.1
Formula
- Follow-on Milk Formula 11,512.7 12,208.3 12,831.6 13,365.8 13,797.2 14,113.2
Milk Formula
-- Powder Follow-on 11,512.7 12,208.3 12,831.6 13,365.8 13,797.2 14,113.2
Milk Formula
- Growing-Up Milk Formula 2,094.4 2,419.3 2,724.5 2,989.1 3,192.7 3,317.6
Milk Formula
-- Powder Growing-Up 2,094.4 2,419.3 2,724.5 2,989.1 3,192.7 3,317.6
Milk Formula
Formula
Milk Formula
Milk Formula
Baby Food 53,230.3 56,752.4 59,853.2 62,422.5 64,366.9 65,606.9
trade sources
Table 86 Forecast Sales of Baby Food by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Baby Food 3.0 2.7 14.0
trade sources
Table 87 Forecast Sales of Baby Food by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Other Baby Food 1.6 -0.6 -3.0
Baby Food 6.6 4.3 23.3
trade sources
BUTTER AND SPREADS IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 In 2018 butter and spreads records retail current value growth of 12% to reach sales of
INR169.5 billion
 Patanjali and Parag Milk Foods run aggressive marketing campaigns to promote their ghee
products
 Butter registers the strongest retail current value growth of 15%, with sales driven by rising
demand for premium products
 Average unit price in butter and spreads rises by 9% in current terms
 Margarine and spreads continues to achieve double-digit growth thanks to rising demand from
roadside eateries and small-to-medium sized restaurants
 Over the forecast period butter and spreads is expected to post a value CAGR of 13% at
constant 2018 prices to reach sales of INR307.4 billion in 2023
PROSPECTS
Rising Demand Continues To Drive Sales of Butter

Butter continued to perform well in 2018, with sales primarily driven by stronger household
consumption. Although extensively used for cooking, butter is also a popular spread on bread.
Enjoyed by people of all ages, there has also been an increase in consumption of different
variants of butter, such as garlic flavoured butter and chocolate butter spread.
The category has also started to witness the launch of premium butters. For example, under
the premium international brand Président, new variants have been launched, including
unsalted butter and butter with crushed garlic.
Rising Consumption and Stronger Awareness Drive Sales of Ghee

Like butter, ghee is also a staple in the Indian diet and has witnessed significant growth in
recent years. The migration of consumers from unpackaged to packaged ghee has been a
major growth driver, supported by the wider availability of packaged ghee, which can be
purchased cheaply in small packs for just INR5 or INR10. This has served to make packaged
ghee more accessible to lower-income households.
The consumption of ghee and other cooking fats will likely remain high. Rising consumption
will be further supported by companies such as Patanjali and Parag Foods, which have not only
been aggressively marketing their ghee products but have also continued to focus on
highlighting the importance of using cow ghee as part of a healthy diet. Cow ghee is considered
to be a purer form of ghee and is known to have significant health benefits. Health awareness
campaigns and ongoing promotional activities have also helped other manufacturers to increase
their sales, for example Gujarat Co-operative Milk Marketing Federation and Punjab State
Cooperative Milk Producers Federation.
Pricing To Play A Crucial Role in the Future

The introduction of a Goods and Services Tax did not have the intended impact on the retail
prices of butter, ghee and margarine as, even with a flat tax rate of 12%, manufacturers have
not been able to pass on the benefits to end consumers. As a result, retail and unit prices did
not fall as per initial expectations. One major reason for maintaining prices and not passing on
the benefits to consumers was to ensure that dairy farmers achieved better margins for their
milk products, with margins differing significantly across the country. For instance, farmers in
Maharashtra received lower margins than those in Gujarat. A further decline in price would
reduce the already low margins being achieved by farmers, which could have an impact on
production, making it unviable.
However, it would not be surprising if major manufacturers raised the prices of their dairy
products to ensure improved margins for farmers. The actual impact of any price increase could
only be ascertained if and when revised prices are implemented.
Gujarat Co-operative Milk Marketing Federation Remains the Clear

Leader in Butter and Spreads
Gujarat Co-operative Milk Marketing Federation remained the clear leader in butter and
spreads in 2018. This position can be attributed to its robust supply chain, which ensures a
steady supply of butter, ghee and other products to its distributors.
Gujarat Co-operative Milk Marketing Federation has also benefited from its focus on a single
brand, namely Amul. This has enabled the company to build strong brand awareness among its
consumer base, with Amul remaining synonymous with purity and good product quality.
Various Initiatives Help Patanjali Ayurved To Increase Its Sales

Patanjali Ayurved has undertaken a range of marketing and advertising initiatives to help drive
its sales. Focusing on “Made in India” campaigns which promote localisation and home-grown
products, the company has been aggressively positioning itself as a domestic provider of
natural/organic products. Patanjali has been actively promoting its ghee brand by highlighting
the fact that it is a cow ghee. In 2017, the company increased its spending on television
advertisements by 23% on the previous year, while in 2018 it announced partnerships with eight
major online retailers, including Amazon, Flipkart and Bigbasket, to expand its penetration within
the country. In the same year, it also announced an agreement with the government of Uttar
Pradesh to sell its products through cooperatives.
Margarine To Impact Sales of Butter Due To Higher Retail Margins

Although accounting for just a small share of sales in butter and spreads, margarine is
expected to continue to record double-digit growth rates over the forecast period. Considered a
cheaper alternative to butter, sales will be driven primarily by roadside eateries and other small-
to-medium sized restaurants and the fact that margarine offers better margins to wholesalers
and retailers than butter.
CATEGORY DATA
Table 88 Sales of Butter and Spreads by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Butter 51.2 54.0 56.9 60.3 64.8 71.6

Cooking Fats 325.8 334.1 342.6 352.8 368.2 396.9
Margarine and Spreads 6.5 7.4 8.5 9.8 11.3 13.4
Butter and Spreads 383.4 395.6 408.0 422.9 444.3 481.8
Table 89 Sales of Butter and Spreads by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Butter 25,839.0 28,719.0 33,255.0 38,409.0 44,841.8 51,384.5

Cooking Fats 78,193.6 84,705.1 89,748.0 95,682.2 103,373.5 115,232.3
Margarine and Spreads 1,424.2 1,737.5 2,025.9 2,288.5 2,588.3 2,886.9
Butter and Spreads 105,456.8 115,161.6 125,028.9 136,379.7 150,803.6 169,503.7
Table 90 Sales of Butter and Spreads by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Butter 10.4 6.9 39.8

Cooking Fats 7.8 4.0 21.8
Margarine and Spreads 18.7 15.6 106.4
Butter and Spreads 8.4 4.7 25.6
Table 91 Sales of Butter and Spreads by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Butter 14.6 14.7 98.9

Table 92 NBO Company Shares of Butter and Spreads: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Bunge Agribusiness 17.8 1.7 2.2 2.7 3.0
India Pvt Ltd
Punjab State 1.8 2.0 2.4 2.6 2.8
Cooperative Milk
Ltd, The
Milk Producers
Federation Ltd
Anik Industries Pvt Ltd 4.4 4.0 2.3 1.8 2.0
Adani Group 3.4 2.8 2.4 1.9 1.6
Federation Ltd
Vegetable Pvt Ltd
Milk Producers
Federation Ltd
Lactalis, Groupe 1.1 1.1 1.1 1.0 1.0
Zydus Wellness Ltd 0.8 0.9 0.9 0.9 0.9
Ltd
Madhya Pradesh Glychem 1.8 1.7 - - -
Industries Ltd
KS Oils Ltd 0.0 - - - -
Agro Tech Foods Ltd - - - - -
Tirumala Milk Products - - - - -
Pvt Ltd
Others 13.8 25.0 27.5 28.7 28.9
Total 100.0 100.0 100.0 100.0 100.0
Table 93 LBN Brand Shares of Butter and Spreads: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Sagar Gujarat Co-operative 5.0 4.9 4.6 4.3
Milk Marketing
Federation Ltd
Cooperative Milk
Ltd, The
Milk Producers
Federation Ltd
Raag Adani Group 2.8 2.4 1.9 1.6
Federation Ltd
Dalda (Bunge Ltd) Bunge Agribusiness 0.8 1.1 1.3 1.4
India Pvt Ltd
Merrilite (Bunge Ltd) Bunge Agribusiness 0.8 1.0 1.3 1.4
India Pvt Ltd
Development Board)
Anik Ghee Anik Industries Pvt Ltd 4.0 1.6 1.2 1.3
(Lactalis, Groupe)
Milk Producers
Federation Ltd
Hatsun Hatsun Agro Products Ltd 0.6 0.8 0.8 1.2
Nutralite (Zydus Zydus Wellness Ltd 0.9 0.9 0.9 0.9
Cadila Group)
(Private Label) Ltd
Rath (Cargill Inc) Cargill India Pvt Ltd 0.8 0.8 0.8 0.7
Sourabh (Lactalis, Anik Industries Pvt Ltd - 0.7 0.6 0.6
Groupe)
Milma Kerala Cooperative Milk 0.6 0.6 0.6 0.6
Delicious Gujarat Co-operative 0.5 0.6 0.6 0.6
Milk Marketing
Federation Ltd
Nutrela (Ruchi Group) Ruchi Soya Industries Ltd 0.4 0.5 0.4 0.4
Merrigold (Bunge Ltd) Bunge Agribusiness 0.1 0.1 0.1 0.1
India Pvt Ltd
Sourabh (Anik Madhya Pradesh Glychem 1.7 - - -
Industries Pvt Ltd) Industries Ltd
Rath (ConAgra Foods Agro Tech Foods Ltd - - - -
Inc)
KS KS Oils Ltd - - - -
Tirumala Tirumala Milk Products - - - -
Pvt Ltd
(Private Label)
Others Others 25.0 27.5 28.7 28.9
Total Total 100.0 100.0 100.0 100.0
Table 94 Distribution of Butter and Spreads by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 9.8 10.1 10.7 11.1 11.5 11.9
Retailers
--- Hypermarkets 4.2 4.5 4.9 5.2 5.6 5.9
--- Supermarkets 5.6 5.6 5.8 5.9 5.9 6.0
Retailers
specialists
Grocers
--- Other Grocery 2.2 2.2 1.9 1.8 1.6 1.5
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 95 Forecast Sales of Butter and Spreads by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Butter 71.6 78.6 85.7 93.5 101.4 109.5

Cooking Fats 396.9 428.3 464.7 506.9 553.3 607.2
Margarine and Spreads 13.4 15.8 18.7 22.0 25.7 30.1
Butter and Spreads 481.8 522.8 569.1 622.4 680.3 746.8
trade sources
Table 96 Forecast Sales of Butter and Spreads by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Butter 51,384.5 55,897.2 60,699.3 65,795.7 70,944.0 76,224.1

Cooking Fats 115,232.3 122,713.1 131,147.8 140,657.3 150,992.2 162,806.3
Margarine and Spreads 2,886.9 3,085.4 3,309.2 3,568.2 3,830.3 4,166.5
Butter and Spreads 169,503.7 181,695.6 195,156.3 210,021.2 225,766.5 243,196.9
trade sources
Table 97 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2018-
2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Butter 9.9 8.9 53.0

trade sources
Table 98 Forecast Sales of Butter and Spreads by Category: % Value Growth 2018-
2023

2018/2019 2018-23 CAGR 2018/23 Total
Butter 8.8 8.2 48.3

trade sources
CHEESE IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 In 2018 cheese records retail current value growth of 18% to reach sales of INR34.2 billion
 Sales driven by rising consumption among the urban population
 Other processed cheese registers the strongest retail current value growth of 21%
 Average unit price in cheese rises by 9% in current terms, with the sharpest increase of 14%
seen in spreadable processed cheese
 Gujarat Co-operative Milk Marketing Federation remains the clear leader in cheese with a
retail value share of 39%
 Over the forecast period cheese is expected to post a value CAGR of 19% at constant 2018
prices to reach sales of INR81.5 billion in 2023
PROSPECTS
Sales Driven by Increased Adoption of Western Food Habits

With strong economic growth leading to migration from less developed to more developed
areas, many consumers are becoming increasingly reliant on readymade and quick-to-prepare
dishes as their busy lifestyles leave them with less time to cook. As a result, India has witnessed
considerable growth in the consumption of Western-style foods such as burgers, pizza and
pasta, with cheese being a key ingredient in such dishes.
Indians’ taste preferences are also changing due to the increasing presence of international
food chains in the country, such as Domino’s, Pizza Hut, McDonald’s and Taco Bell.
New Varieties and Premium Cheese Products Drive Growth

Changing taste preferences, driven by rising disposable incomes and the adoption of
Western-style foods, are also leading to consumers becoming more willing to experiment with
different types of flavours. The category is thus witnessing rising demand for cheeses such as
Mozzarella, Cheddar and Parmesan, with foodservice outlets also having started to offer
different cheeses as accompaniments to their dishes.
The Indian market is also seeing a rise in demand for artisanal cheeses. There are several
cheese farms across India which produce European-style cheeses such as Montasio, Edam,
Feta, Gouda and Camembert for local consumers. At the same time, new varieties of cheese
which are not made from milk are also emerging. For instance, Violife, a Greek-based cheese
manufacturer, launched vegan cheese in India in 2018. Sold in different variants, these are
indistinguishable from their dairy counterparts but highlight Indian consumers’ intention to adopt
healthier eating habits via a shift away from animal-based products.
Demand Remains Strong for Soft Cheese

In 2018, unprocessed cheese in India continued to be dominated by paneer, which benefits
from huge demand across the country. The unorganised channel remained the largest, with
paneer made freshly every day and sold unpackaged. However, due to rising health awareness,
consumers are increasingly shifting to packaged paneer.
The category is also witnessing a slight rise in consumption of cheese made from sheep or
goat’s milk, for example feta. Although still fairly new in India, feta is available in blocks and is
increasingly being seen as one of the healthiest options for cheese lovers, especially when
compared with cheese made from cow’s milk.
Gujarat Co-operative Milk Marketing Federation Remains the Clear

Leader in Cheese
Gujarat Co-operative Milk Marketing Federation remained the clear leader in cheese in 2018
but continued to see its value share decline. This can be attributed to the slower value sales
growth of its Amul brand. However, the company achieved substantial double-digit growth in
volume terms in 2018.
The company’s still strong position, however, is largely down to a robust supply chain as well
as its focus on a single brand. Indeed, the Amul brand is very well-known to consumers, partly
thanks to the iconic “Amul girl”, who is still going strong after many years thanks to her tongue-
in-cheek humour and clever wordplay.
Parag Milk Foods Continues To Perform Well

Parag Milk Foods continued to perform well in 2018 thanks to its Go Cheese brand. The
company is benefiting from rising demand among urban consumers as well as a strong supply
chain and a focus on innovation. In July 2018, the company launched Go Chocolate Cheese,
adding to an already extensive product line which includes flavours such as green chutney,
schezwan, piri-piri, smoked paprika, herbs and olives and garlic.
Although the company continues to grow organically, it is also looking at mergers and
acquisitions. In April 2018, it announced plans to acquire Danone’s Indian manufacturing facility
for INR300 million. The acquisition will enable the company to expand its presence in the
northern part of the country, which currently accounts for 25% of its sales. The company’s sales
are expected to rise significantly in northern regions following the acquisition as it should deliver
substantial savings in terms of logistics.
Manufacturers Continue To Drive Growth in Cheese Through Additional

Investment
As demand for cheese continues to rise, the category is benefiting from additional investment.
In 2017, MMD Dairy, the manufacturer of the Milky Mist cheese brand, headquartered in the
south of the country, announced it was seeking investment of IND3 billion from private equity
players to expand its production. The company also announced plans to build a Greenfield unit
at Erode in Tamil Nadu to convert 10 lakh litres of milk procured directly into paneer, curd,
cheese, yoghurt and other dairy products. In the same vein, in 2018, Britannia Dairy s
announced investment of INR5 billion in a manufacturing base at Ranjangaon in Maharashtra.
These investments will enable manufacturers to expand their capabilities in milk processing,
leading to stronger production of cheese and other value-added dairy products.
CATEGORY DATA
Table 99 Sales of Cheese by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Processed Cheese 17.7 19.3 22.1 25.2 28.5 31.7

- Spreadable Processed 2.8 3.2 3.7 4.3 5.0 5.5
Cheese
- Other Processed Cheese 14.9 16.0 18.4 20.8 23.5 26.2
Unprocessed Cheese 26.5 30.0 33.6 37.2 41.5 44.3
- Hard Cheese - - - - - -
-- Packaged Hard Cheese - - - - - -
-- Unpackaged Hard Cheese - - - - - -
- Soft Cheese 26.5 30.0 33.6 37.2 41.5 44.3
Cheese 44.2 49.2 55.7 62.4 70.0 76.0
Table 100 Sales of Cheese by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Processed Cheese 6,132.4 7,849.3 10,051.1 12,737.8 15,919.7 19,256.0

- Spreadable Processed 979.6 1,260.4 1,622.1 2,059.2 2,583.3 3,060.2
Cheese
- Other Processed Cheese 5,152.8 6,588.9 8,429.0 10,678.5 13,336.4 16,195.8
Unprocessed Cheese 6,286.5 7,691.1 9,224.0 10,905.4 13,050.5 14,910.3
- Soft Cheese 6,286.5 7,691.1 9,224.0 10,905.4 13,050.5 14,910.3
Cheese 12,418.9 15,540.5 19,275.0 23,643.2 28,970.2 34,166.3
Table 101 Sales of Cheese by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Processed Cheese 11.1 12.4 79.2

- Spreadable Processed Cheese 9.8 14.3 95.3
- Other Processed Cheese 11.4 12.0 76.1
Unprocessed Cheese 6.8 10.8 66.9
- Hard Cheese - - -
-- Packaged Hard Cheese - - -
-- Unpackaged Hard Cheese - - -
- Soft Cheese 6.8 10.8 66.9
Cheese 8.5 11.4 71.8
Table 102 Sales of Cheese by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

- Hard Cheese - - -
- Soft Cheese 14.3 18.9 137.2
Cheese 17.9 22.4 175.1
Table 103 Sales of Spreadable Processed Cheese by Type: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Cream Cheese 5.0 5.0 5.0 5.0 5.0 5.0

Reconstituted Cheese 95.0 95.0 95.0 95.0 95.0 95.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 104 Sales of Unprocessed Cheese by Type: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Mozzarella 20.0 20.0 20.0 20.0 20.0 19.8

Paneer 73.0 75.0 76.0 76.0 76.0 76.3
Others 7.0 5.0 4.0 4.0 4.0 3.9
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 105 NBO Company Shares of Cheese: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
MMD Dairy 4.0 4.0 3.9 3.8 4.0
Britannia Dairy Pvt Ltd 7.3 6.2 5.5 4.5 3.9
Parag Milk Foods Pvt Ltd 1.8 2.3 2.5 2.6 2.5
Punjab State 2.8 2.5 2.2 2.0 1.9
Cooperative Milk
Ltd, The
Ltd
Others 34.5 35.7 38.6 41.8 45.8
Total 100.0 100.0 100.0 100.0 100.0
Table 106 LBN Brand Shares of Cheese: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Milky Mist (Milky MMD Dairy 4.0 3.9 3.8 4.0
Mist Dairy Foods
Pvt Ltd)
Britannia Britannia Dairy Pvt Ltd 6.2 5.5 4.5 3.9
(Britannia
Industries Ltd)
Go Cheese Parag Milk Foods Pvt Ltd 2.3 2.5 2.6 2.5
Cooperative Milk
Ltd, The
(Private Label) Ltd
(Private Label)
Others Others 40.4 43.0 45.6 49.4
Total Total 100.0 100.0 100.0 100.0
Table 107 Distribution of Cheese by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 14.0 14.0 14.0 14.1 13.8 14.2
Retailers
--- Hypermarkets 8.6 8.6 8.6 8.7 8.6 8.8
--- Supermarkets 5.4 5.4 5.4 5.4 5.2 5.4
Retailers
specialists
Grocers
--- Other Grocery 37.0 37.0 37.0 37.0 36.9 36.6

Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 108 Forecast Sales of Cheese by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Processed Cheese 31.7 35.6 38.8 43.2 48.3 53.0

- Spreadable Processed 5.5 6.1 6.9 7.7 8.8 10.2
Cheese
- Other Processed Cheese 26.2 29.5 32.0 35.4 39.5 42.8
Unprocessed Cheese 44.3 48.9 55.9 62.9 71.5 81.8
- Soft Cheese 44.3 48.9 55.9 62.9 71.5 81.8
Cheese 76.0 84.5 94.7 106.1 119.8 134.8
trade sources
Table 109 Forecast Sales of Cheese by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Processed Cheese 19,256.0 22,380.1 25,070.4 28,398.2 32,275.1 35,698.3

- Spreadable Processed 3,060.2 3,438.6 3,991.7 4,549.4 5,236.8 6,089.4
Cheese
- Other Processed Cheese 16,195.8 18,941.6 21,078.7 23,848.8 27,038.3 29,608.9
Unprocessed Cheese 14,910.3 16,778.3 19,419.1 22,062.1 25,153.0 28,789.1
- Soft Cheese 14,910.3 16,778.3 19,419.1 22,062.1 25,153.0 28,789.1
Cheese 34,166.3 39,158.4 44,489.6 50,460.3 57,428.0 64,487.4
trade sources
Table 110 Forecast Sales of Cheese by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

- Hard Cheese - - -
- Soft Cheese 10.5 13.1 84.8
Cheese 11.2 12.2 77.4
trade sources
Table 111 Forecast Sales of Cheese by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

- Hard Cheese - - -
- Soft Cheese 12.5 14.1 93.1
Cheese 14.6 13.5 88.7
trade sources
DRINKING MILK PRODUCTS IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 In 2018 drinking milk products records retail current value growth of 14% to reach sales of
INR953.5 billion
 Category benefits from investment from private equity players and increased competition
between private companies and dairy cooperatives
 Flavoured milk drinks registers the strongest retail current value growth of 27%
 Average unit price in drinking milk products rises by 10% in current terms
 Gujarat Co-operative Milk Marketing Federation leads the category with a retail value share of
15%
 Over the forecast period drinking milk products is expected to post a value CAGR of 15% at
constant 2018 prices to reach sales of INR1,907.4 billion in 2023
PROSPECTS
Drinking Milk Products Continues To Record Strong Growth

Drinking milk products continued to record double-digit current value growth in 2018, with
sales primarily driven by a strong performance from fresh milk, which accounts for the vast
majority of sales. Rising demand is a direct result of increased daily consumption. Considered a
very important part of the daily diet in India, fresh milk is also witnessing a rise in sales as a
result of increasing health awareness, with many consumers shifting from carbonated drinks or
drinks with a high amount of sugar to healthier alternatives.
According to Gujarat Co-operative Milk Marketing Federation, one of the largest milk
producers in the world, fresh milk consumption in India has risen significantly since the late
1970s and is expected to reach a similar level to that in developed economies over the next few
decades, thus highlighting the category’s still huge growth potential in India.
Flavoured Milk Drinks the Best Performing Category

Flavoured milk drinks continued to outperform the wider drinking milk products category in
2018. This can be attributed to a slew of new product launches in recent years, adding new
flavours to traditional ones such as chocolate and vanilla. Indeed, dairy producers such as
Gujarat Co-operative Milk Marketing Federation and National Dairy Development Board have
continued to launch flavoured milk products in ethnic flavours like kesar, cardamom and almond
to satisfy consumer demand.
Rising health awareness has also led to a focus on product innovation, with manufactures
adding more ingredients to their products, such as almonds, other nuts or dried fruits, to
enhance their health credentials. In addition, technological advancement in terms of product
storage and hygiene has also further improved the shelf life of these products, thus enabling
retailers to store them for a longer period of time and facilitating transportation to rural areas so
as to increase penetration.
Demand for Premium Milk Is Also on the Rise

Fresh milk remained the most popular type in India in 2018. However, due to fast-paced and
hectic lifestyles some consumers have started to opt for premium milk as it has a longer shelf
life, can be purchased in bulk, stored for a longer period of time and has a reduced fat content.
Indeed, the private milk producer Parag Milk Foods is selling premium farm-to-home fresh milk
under the Pride of Cows brand to consumers at almost double the price, INR80, of standard
milk, while Milk Mantra has been supplying premium milk in Odisha at a higher price point.
The category is also witnessing the growth of milk start-ups such as Shudh Farms and the
Madras Milk Co, which offer milks with a longer shelf life in premium packaging such as vintage
bottles, which can be used daily for refills. As more and more consumers demand healthier
products, premiumisation will continue to remain a trend in the category.
Gujarat Co-operative Milk Marketing Federation Continues To Gain

Share
Gujarat Co-operative Milk Marketing Federation continued to lead drinking milk products in
2018 thanks to a robust supply chain and its capacity to meet increasing demand for fresh milk.
The company also offers a wide range of flavoured milk drinks under its Amul brand, which is
very well-known to consumers.
In July 2018, the company announced plans to further expand through a franchising model,
whereby it would lease out the brand’s name to individuals and small businesses for a small fee.
This will help the company to better compete with other dairy cooperatives and private players
across the country.
Strength of Dairy Cooperatives Continues To Shape the Indian Dairy

Industry
Karnataka Cooperative Milk Producers Federation, a network of 14 milk unions, also
remained an important player in drinking milk products in 2018. The co-operative has a strong
presence in the southern part of the country and continues to offer flavoured milk drinks, fresh
milk and milk powder.
Operating through its dedicated milk parlours in the southern part of the country, the co-
operative recorded double-digit value sales growth over the review period, with this expected to
continue over the forecast period, with the company primarily catering for demand through its
surplus output and exporting the remainder as value- added products, such as milk powder and
ghee, to the Middle East.
Indian Dairy Industry Appears To Be A Cash Cow for Private Equity

Players and Private Milk Producers
As one of the largest dairy producing countries on the planet, India has maintained its status
as a lucrative dairy market. As a result, it continues to attract interest from financial institutions
and has the potential to become a lucrative investment destination. For instance, KKR India, the
local arm of the New York-based buyout entity KKR & Co, has invested INR6 billion in Kwality
Ltd, a major producer of dairy products under the Kwality brand. France’s Groupe Lactalis,
meanwhile, has invested INR1.8 billion and INR4.7 billion in Tirumala Milk Products and Anik
Industries, respectively, and Cargill Ventures also INR1.1 billion in Dodla Dairy.
These investments are serving to intensify the level of competition in the Indian market,
encouraging independent companies and co-operatives to revamp their strategies and invest in
brand building, expansion, direct procurement and distribution. As a result, Heritage Foods has
spent around INR750 million on brand building, while Gujarat Cooperative Milk Marketing
Federation has plans to invest INR30 billion by 2020. Parag Milk Foods and Prabhat Dairy have
invested INR640 million and INR400 million, respectively, on strengthening their presence in the
industry. All these moves highlight the fact that India, being a huge market, still offers significant
opportunities for new entrants.
CATEGORY DATA
Table 112 Sales of Drinking Milk Products by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Flavoured Milk Drinks 108.0 125.7 148.4 175.4 207.4 255.3

- Dairy Only Flavoured 108.0 125.7 148.4 175.4 207.4 255.3
Milk Drinks
- Flavoured Milk Drinks - - - - - -
with Fruit Juice
Milk 13,313.2 14,086.1 14,999.4 15,932.3 16,979.2 18,179.2
- Cow's Milk 13,313.2 14,086.1 14,999.4 15,932.3 16,979.2 18,179.2
-- Fresh Milk 13,145.7 13,911.6 14,818.3 15,745.4 16,785.4 17,968.0
--- Fat-free Fresh Milk - - - - - -
--- Semi Skimmed Fresh 8,976.4 9,539.1 10,195.4 10,892.3 11,667.8 12,351.3
Milk
--- Full Fat Fresh Milk 4,169.3 4,372.5 4,622.9 4,853.1 5,117.6 5,616.7
-- Shelf Stable Milk 167.5 174.5 181.1 186.9 193.8 211.3
--- Fat-free Shelf - - - - - -
Stable Milk
--- Semi Skimmed Shelf 139.3 145.2 150.9 155.8 161.7 176.2
Stable Milk
--- Full Fat Shelf 28.2 29.3 30.3 31.0 32.1 35.0
Stable Milk
- Goat Milk - - - - - -
Powder Milk 66.0 67.3 68.6 70.1 74.5 78.0
Milk Alternatives 10.7 11.7 13.0 14.5 16.3 19.1
- Soy Drinks 10.7 11.7 13.0 14.5 16.3 19.1
- Other Milk Alternatives - - - - - -
Drinking Milk Products 13,498.0 14,290.8 15,229.4 16,192.3 17,277.4 18,531.6
Table 113 Sales of Drinking Milk Products by Category: Value 2013-2018
INR bn
2013 2014 2015 2016 2017 2018

Milk Drinks
with Fruit Juice
Milk 448.1 515.3 593.0 679.9 785.7 893.0
- Cow's Milk 448.1 515.3 593.0 679.9 785.7 893.0

-- Fresh Milk 438.8 504.7 581.1 666.6 770.8 876.3
--- Semi Skimmed Fresh 267.8 309.9 357.7 412.1 477.4 543.3
Milk
--- Full Fat Fresh Milk 171.1 194.8 223.5 254.5 293.3 333.0
Stable Milk
Stable Milk
--- Full Fat Shelf 1.6 1.8 2.1 2.3 2.6 2.9
Stable Milk
- Goat Milk - - - - - -
Powder Milk 16.6 18.9 22.5 26.0 30.1 34.2
- Soy Drinks 0.6 0.7 0.8 0.9 1.1 1.3
Drinking Milk Products 474.5 546.5 630.8 724.6 838.9 956.4
Table 114 Sales of Drinking Milk Products by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Flavoured Milk Drinks 23.1 18.8 136.4

- Dairy Only Flavoured Milk Drinks 23.1 18.8 136.4
- Flavoured Milk Drinks with Fruit Juice - - -
Milk 7.1 6.4 36.6
- Cow's Milk 7.1 6.4 36.6
-- Fresh Milk 7.0 6.4 36.7
--- Fat-free Fresh Milk - - -
--- Semi Skimmed Fresh Milk 5.9 6.6 37.6
--- Full Fat Fresh Milk 9.8 6.1 34.7
-- Shelf Stable Milk 9.0 4.7 26.1
--- Fat-free Shelf Stable Milk - - -
--- Semi Skimmed Shelf Stable Milk 9.0 4.8 26.5
--- Full Fat Shelf Stable Milk 9.2 4.4 24.2
- Goat Milk - - -
Powder Milk 4.7 3.4 18.2
Milk Alternatives 17.1 12.2 77.6
- Soy Drinks 17.1 12.2 77.6
- Other Milk Alternatives - - -
Drinking Milk Products 7.3 6.5 37.3
Table 115 Sales of Drinking Milk Products by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Milk 13.7 14.8 99.3

- Cow's Milk 13.7 14.8 99.3
-- Fresh Milk 13.7 14.8 99.7
- Goat Milk - - -
Powder Milk 13.4 15.5 105.5
- Soy Drinks 17.4 17.9 127.7
Table 116 NBO Company Shares of Drinking Milk Products: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Vegetable Pvt Ltd
Milk Producers
Federation Ltd
Milk Producers
Federation Ltd
Federation Ltd
Maryadit
Punjab State 2.1 2.1 2.1 2.0 2.0
Cooperative Milk
Ltd, The
Dairy Development 1.8 1.8 1.7 1.6 1.6
Department Maharashtra
State
VRS Foods Ltd 1.7 1.9 1.8 1.6 1.6
Lactalis, Groupe 2.4 2.2 2.0 1.7 1.6
Bihar State Co- 1.4 1.4 1.4 1.4 1.4
operative Milk
Producers Federation Ltd
Madhya Pradesh State 1.3 1.2 1.2 1.2 1.2

Cooperative Dairy
Federation Ltd
Haryana Dairy 1.1 1.1 1.0 1.0 1.1
Development Co-
operative Federation Ltd
Metro Dairy Ltd 0.9 0.9 0.9 0.9 0.9
Orissa State 0.9 0.9 0.9 0.9 0.9
Cooperative Milk
Ltd, The
Delhi Milk Scheme 0.5 0.5 0.5 0.5 0.5
Nestlé India Ltd 0.3 0.3 0.3 0.3 0.3
Anik Industries Pvt Ltd - - 0.2 0.2 0.2
Madhya Pradesh Glychem 0.5 0.7 - - -
Industries Ltd
Pvt Ltd
Others 26.4 26.0 26.7 27.0 26.5
Total 100.0 100.0 100.0 100.0 100.0
Table 117 LBN Brand Shares of Drinking Milk Products: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Development Board)
Nandini Toned Milk Karnataka Cooperative 7.1 7.1 7.2 7.5
Milk Producers
Federation Ltd
Milk Producers
Federation Ltd
Federation Ltd
Mahanand Maharashtra Rajya 3.7 3.7 3.7 3.7
Maryadit
Milma Toned Kerala Cooperative Milk 2.7 2.7 2.6 2.6
Cooperative Milk
Ltd, The
Paras VRS Foods Ltd 1.9 1.8 1.6 1.6
Komatha Hatsun Agro Products Ltd 1.6 1.5 1.6 1.6
Aarey Dairy Development 1.7 1.7 1.6 1.6
Department Maharashtra
State
Arokya Hatsun Agro Products Ltd 1.6 1.5 1.6 1.6
Milk Producers
Federation Ltd
Sudha Bihar State Co- 1.4 1.4 1.4 1.4
operative Milk
Sanchi Madhya Pradesh State 1.2 1.2 1.2 1.2
Cooperative Dairy
Federation Ltd
Vita Haryana Dairy 1.1 1.0 1.0 1.1
Development Co-
operative Federation Ltd
Metro Dairy Metro Dairy Ltd 0.9 0.9 0.9 0.9
Omfed Orissa State 0.9 0.9 0.9 0.9
Cooperative Milk
Ltd, The
DMS Delhi Milk Scheme 0.5 0.5 0.5 0.5
Nestlé (Nestlé SA) Nestlé India Ltd 0.3 0.2 0.2 0.2
(Britannia
Industries Ltd)
Anikspray Anik Industries Pvt Ltd - 0.2 0.1 0.1
(Lactalis, Groupe)
Anikspray (Royal Madhya Pradesh Glychem 0.6 - - -
FrieslandCampina NV) Industries Ltd
Sourabh (Anik Madhya Pradesh Glychem 0.1 - - -
Industries Pvt Ltd) Industries Ltd
Pvt Ltd
Others Others 26.2 26.9 27.2 26.7
Total Total 100.0 100.0 100.0 100.0
Table 118 Distribution of Drinking Milk Products by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 3.7 3.9 4.0 4.2 4.6 4.7
Retailers
--- Hypermarkets 1.9 2.1 2.2 2.4 2.7 2.6
--- Supermarkets 1.8 1.8 1.8 1.8 1.9 2.0
Retailers
specialists

Grocers
--- Other Grocery 81.1 80.9 80.8 80.3 80.0 79.9
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 119 Forecast Sales of Drinking Milk Products Products by Category: Volume
2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023

Milk Drinks
with Fruit Juice
Milk 18,179.2 19,560.5 21,257.7 23,406.5 25,961.6 29,111.8
- Cow's Milk 18,179.2 19,560.5 21,257.7 23,406.5 25,961.6 29,111.8
-- Fresh Milk 17,968.0 19,333.6 21,011.2 23,136.2 25,662.6 28,775.9
--- Semi Skimmed Fresh 12,351.3 13,143.3 14,092.2 15,259.9 16,649.8 18,364.4
Milk
--- Full Fat Fresh Milk 5,616.7 6,190.3 6,919.0 7,876.3 9,012.7 10,411.5
Stable Milk
Stable Milk
--- Full Fat Shelf 35.0 37.4 40.5 44.4 49.2 55.1
Stable Milk
- Goat Milk - - - - - -
Powder Milk 78.0 82.4 86.0 90.5 95.0 100.0
- Soy Drinks 19.1 22.1 25.7 29.7 34.4 39.5
Drinking Milk Products 18,531.6 19,966.7 21,734.6 23,969.2 26,626.9 29,905.9
trade sources
Table 120 Forecast Sales of Drinking Milk Products Products by Category: Value 2018-
2023
INR bn
2018 2019 2020 2021 2022 2023

Milk Drinks
with Fruit Juice
Milk 893.0 967.6 1,053.2 1,153.2 1,269.0 1,404.2
- Cow's Milk 893.0 967.6 1,053.2 1,153.2 1,269.0 1,404.2
-- Fresh Milk 876.3 950.1 1,034.6 1,133.4 1,247.8 1,381.2
--- Semi Skimmed Fresh 543.3 591.0 645.7 708.5 781.6 865.1
Milk
--- Full Fat Fresh Milk 333.0 359.1 388.9 424.9 466.3 516.1
Stable Milk
Stable Milk
--- Full Fat Shelf 2.9 3.0 3.2 3.4 3.7 4.0
Stable Milk
- Goat Milk - - - - - -
Powder Milk 34.2 36.8 39.5 42.3 45.3 48.3
- Soy Drinks 1.3 1.4 1.5 1.6 1.8 1.9
Drinking Milk Products 956.4 1,038.3 1,132.6 1,242.3 1,369.2 1,517.5
trade sources
Table 121 Forecast Sales of Drinking Milk Products Products by Category: % Volume
Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Milk 7.6 9.9 60.1
- Cow's Milk 7.6 9.9 60.1
-- Fresh Milk 7.6 9.9 60.2
- Goat Milk - - -
- Soy Drinks 16.1 15.7 107.1
trade sources
Table 122 Forecast Sales of Drinking Milk Products Products by Category: % Value
Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Milk 8.4 9.5 57.2
- Cow's Milk 8.4 9.5 57.2
-- Fresh Milk 8.4 9.5 57.6
- Goat Milk - - -
- Soy Drinks 9.9 9.1 54.6
trade sources
YOGHURT AND SOUR MILK

PRODUCTS IN INDIA - CATEGORY
ANALYSIS
HEADLINES
 In 2018 yoghurt and sour milk products records retail current value growth of 23% to reach
sales of INR187.6 billion
 Yoghurt benefits from product innovation and premiumisation
 Drinking yoghurt registers the strongest retail current value growth of 29%
 Average unit price rises by 22% in plain yoghurt but falls by 4% in drinking yoghurt
 Karnataka Cooperative Milk Producers Federation leads the category with an 18% share of
retail value sales
 Over the forecast period yoghurt and sour milk products is expected to post a value CAGR of
19% at constant 2018 prices to reach sales of INR444.3 billion in 2023
PROSPECTS
Yoghurt Benefits From Product Innovation and Premiumisation

The success of the Greek-style yoghurt Epigamia, which was launched during 2016, has
paved the way for new product development in yoghurt in India. Along with the health benefits
associated with Greek yoghurt, the format is perceived as an indulgence product and after-meal
dessert. New flavours of yoghurt previously non-existent in the Indian market, like wild
raspberry, green apple and honey banana to name a few, have also led to Greek yoghurt being
seen as a snack by many consumers.
With regard to new product development, DropKaffe Food & Beverages launched yoghurt
smoothies under the Goodness! brand in 2017, with these containing real fruit but no
preservatives, being low in fat and positioned as good for gut health. Due to its health benefits,
yoghurt as a category is also seeing ongoing premiumisation. Epigamia and another new brand,
Basta, which is a goat yoghurt, retail at INR40-60 for a 90g pot, while Goodness! yoghurt drinks
are priced at INR50 for 190ml, which is expensive when compared to the price of plain yoghurt.
Sour Milk Products Benefiting From the Offer of Small Pack Sizes
Sour milk products are popular for two reasons in India, namely for refreshment and as part of
a meal. Particularly in the southern states of Karnataka, Tamil Nadu, Andhra Pradesh and
others, sour milk products are consumed to combat the heat. Small pack sizes of 250ml are the
most popular as these are suitable for a single serving and are available in all retail channels.
These sour milk products are also often diluted with water or mixed with spices and salt before
consumption. In households in Southern India, sour milk is often part of a meal, usually mixed
with rice and consumed with salt and pickle. In such cases, a 500ml pack size suffices for a
family of four, which is bought daily along with milk and other grocery essentials. In addition,
sour milk is also used to make many desserts and is consumed to aid digestion. These will
continue to be the main factors driving sales of sour milk products in India, with the category not
having seen any major innovation or new product launches in recent years.
New Tax Rates Benefit Yoghurt and Sour Milk Products

As part of the revised Goods and Services Tax (GST), yoghurt was brought under the 5% tax
bracket while the tax on sour milk products was removed completely. Thus, the price of
standard and economy yoghurts fell by between 1-2%, while that of sour milk products declined
by around 2-3%. With the decrease in unit price came a surge in retail volume sales of yoghurt
at the end of 2017, which continued in 2018, albeit at a slower rate. Like milk, yoghurt and sour
milk products are widely consumed in India. Being considered essential commodities, the tax on
these products was lowered by the government, with this set to continue to help drive volume
sales over the forecast period.
Leading Cooperatives Maintain Their Positions in Yoghurt and Sour Milk

Products
Karnataka Cooperative Milk Producers Federation and Gujarat Co-operative Milk Marketing
Federation remained the leading two players in yoghurt and sour milk products in 2018. Both
benefit from a strong distribution network, exclusive brand outlets and affordable prices.
Although the former is present only in Karnataka and other neighbouring states, the latter’s dairy
products have a national presence. These factors pose a significant challenge to other
government dairy cooperatives and private companies looking to increase their sales. In
addition, both companies offer a range of pack sizes to meet the different needs of consumers.
Brand loyalty among consumers and high product quality are other factors which will enable the
two cooperatives to maintain their leading positions over the forecast period.
Danone Exits the Dairy Industry in India

In January 2018, Danone Food & Beverages closed its dairy business in India. Dairy
accounted for close to 10% of the company’s overall business in the country. This move came
after constant issues faced by the company in terms of milk procurement, strong competition
from government dairy cooperatives and the popularity of yoghurt brands from private
manufacturers. Its parent company, which had announced investment in its dairy business
during 2017, will now instead focus on the further development of its nutrition division, which
includes baby food. Danone’s exit from the dairy industry will provide an opportunity for other
players like Nestlé and Drums Food International to gain ground in flavoured yoghurt, which is
currently a nascent category in India.
CATEGORY DATA
Table 123 Sales of Yoghurt and Sour Milk Products by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Sour Milk Products 237.8 263.5 292.3 325.0 365.2 412.4

Yoghurt 627.3 737.2 859.2 994.1 1,187.9 1,423.9
- Drinking Yoghurt 2.9 4.3 6.0 7.9 10.4 13.1
- Flavoured Yoghurt - - - - - -
- Plain Yoghurt 624.4 732.9 853.2 986.2 1,177.5 1,410.8
Yoghurt and Sour Milk 865.2 1,000.7 1,151.5 1,319.1 1,553.1 1,836.3
Products
Table 124 Sales of Yoghurt and Sour Milk Products by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Sour Milk Products 16,364.0 20,826.0 24,936.0 29,082.0 34,221.0 40,380.8

Yoghurt 44,461.1 57,896.6 74,089.6 93,481.7 120,992.7 156,464.6
- Drinking Yoghurt 504.1 763.6 1,090.6 1,425.7 1,849.7 2,293.6
- Plain Yoghurt 43,957.0 57,133.0 72,999.0 92,056.0 119,143.0 154,171.0
Yoghurt and Sour Milk 60,825.1 78,722.6 99,025.6 122,563.7 155,213.7 196,845.4
Products
Table 125 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth
2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Sour Milk Products 12.9 11.6 73.4

Yoghurt 19.9 17.8 127.0
- Drinking Yoghurt 25.8 35.1 350.8
- Flavoured Yoghurt - - -
- Plain Yoghurt 19.8 17.7 125.9
Yoghurt and Sour Milk Products 18.2 16.2 112.3
Table 126 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2013-
2018

2017/18 2013-18 CAGR 2013/18 Total

Yoghurt 29.3 28.6 251.9
- Plain Yoghurt 29.4 28.5 250.7
Table 127 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2014-
2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Producers
Federation Ltd
Milk Marketing
Federation Ltd
Vegetable Pvt Ltd
Nestlé India Ltd 5.4 5.5 5.6 5.8 5.7
Milk Producers
Federation Ltd
Federation Ltd
Punjab State 0.9 1.1 1.3 1.5 1.4
Cooperative Milk
Ltd, The
Lactalis, Groupe 2.3 2.1 1.8 1.6 1.3
Bihar State Co- 1.5 1.4 1.4 1.2 1.1
operative Milk
Orissa State 1.8 1.6 1.4 1.2 1.1
Cooperative Milk
Ltd, The
Yakult Danone India Pvt 0.6 0.7 0.7 0.6 0.6
Ltd
Danone Food & Beverages 0.8 0.8 0.7 0.7 0.6
India Pvt Ltd
Pvt Ltd
Others 15.3 20.3 23.7 29.4 32.5
Total 100.0 100.0 100.0 100.0 100.0
Table 128 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2015-2018
% retail value rsp


Milk Producers
Federation Ltd
Milk Marketing
Federation Ltd
Mother Dairy Dahi Mother Dairy Fruit & 9.6 8.4 7.3 6.6
Development Board)
Fresh 'n' Natural Nestlé India Ltd 5.5 5.6 5.8 5.7
Dahi (Nestlé SA)
Milk Producers
Federation Ltd
Hatsun Hatsun Agro Products Ltd 3.5 3.6 2.6 3.2
Arokya Hatsun Agro Products Ltd 2.0 2.2 1.6 2.0
Federation Ltd
Mother Dairy Lassi Mother Dairy Fruit & 3.4 2.5 1.7 1.5
Development Board)
Cooperative Milk
Ltd, The
Sudha Bihar State Co- 1.4 1.4 1.2 1.1
operative Milk
Omfed Orissa State 1.6 1.4 1.2 1.1
Cooperative Milk
Ltd, The
Yakult (Yakult Yakult Danone India Pvt 0.7 0.7 0.6 0.6
Honsha Co Ltd) Ltd
Danone (Danone, Danone Food & Beverages 0.8 0.7 0.7 0.6
Groupe) India Pvt Ltd
(Britannia
Industries Ltd)
Nutrifit (National Mother Dairy Fruit & 0.2 0.2 0.2 0.2
Board)
Pvt Ltd
Others Others 20.3 23.7 29.4 32.5
Total Total 100.0 100.0 100.0 100.0
Table 129 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2013-
2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 7.6 7.9 8.1 8.4 8.6 8.7
Retailers

--- Hypermarkets 3.3 3.5 3.7 4.0 4.2 4.3
--- Supermarkets 4.3 4.4 4.4 4.4 4.4 4.4
Retailers
specialists
Grocers
--- Other Grocery 65.4 64.6 63.9 62.2 61.5 61.1
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 130 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume
2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Sour Milk Products 412.4 461.2 511.7 564.7 618.9 673.2

Yoghurt 1,423.9 1,673.8 1,939.1 2,213.2 2,484.7 2,744.5
- Drinking Yoghurt 13.1 16.3 20.0 24.3 29.1 34.5
- Plain Yoghurt 1,410.8 1,657.5 1,919.1 2,188.9 2,455.6 2,710.0
Products
trade sources
Table 131 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2018-
2023
INR million
2018 2019 2020 2021 2022 2023
Sour Milk Products 40,380.8 44,928.9 49,389.0 53,630.0 57,519.3 60,922.1

Yoghurt 156,464.6 188,042.9 219,942.3 250,368.3 276,943.9 297,423.1
- Drinking Yoghurt 2,293.6 2,678.9 3,088.0 3,512.2 3,941.2 4,362.4
- Plain Yoghurt 154,171.0 185,364.0 216,854.3 246,856.0 273,002.7 293,060.7
Products
trade sources
Table 132 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume
Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Yoghurt 17.5 14.0 92.7
- Plain Yoghurt 17.5 13.9 92.1
trade sources
Table 133 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Value
Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Yoghurt 20.2 13.7 90.1
- Plain Yoghurt 20.2 13.7 90.1
trade sources
OTHER DAIRY IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 In 2018 other dairy grows by 14% in retail current value terms to reach sales of INR30.6
billion
 Travellers and hotels contribute to the growth of coffee whiteners in India
 Coffee whiteners records the strongest current value growth of 15%
 Average unit price in other dairy rises by 11% in current terms
 Condensed milk in India continues to be duopoly
 Over the forecast period other dairy is expected to post a value CAGR of 12% at constant
2018 prices to reach sales of INR52.9 billion in 2023
PROSPECTS
Travellers and Hotels Contribute To the Growth of Coffee Whiteners

In 2018, coffee whiteners continued to benefit from heavy usage among travellers in India,
with many carrying these products with them while on the move in case of a lack of availability.
Coffee whiteners are also used when preparing certain traditional sweets and in places where
there is a shortage of milk. In addition to retail sales, coffee whiteners are also purchased by
consumer foodservice outlets. In India, co-operatives’ surplus milk is converted into coffee
whiteners and is mainly sold to institutions. As India enjoys strong milk production, these are the
only drivers of growth in coffee whiteners.
New Tax Rate Drives Up the Price of Condensed Milk

In value-added dairy, condensed milk is the only product to have been put in the 18% tax
bracket. Due to the rise in tax for condensed milk, average unit price in the category continued
to rise at the end of 2017 and in early 2018. Despite this, however, condensed milk continued to
grow in both volume and value terms as it is often used when making sweets.
Condensed Milk in India Remains A Duopoly

Nestlé India continued to lead condensed milk in 2018 through its popular Milkmaid brand,
which continued to enjoy strong consumer loyalty. The second biggest company remained
Gujarat Co-operative Milk Marketing Federation, which sells condensed milk under the brand
Amul Mithai Mate. The strength of Amul Mithai Mate stems from the general popularity of the
company across India, which is well-known for its iconic Amul brand. Like Milkmaid, Amul Mithai
Mate also benefits from a loyal consumer base. Due to the duopolistic nature of condensed milk
in India, the category sees very few marketing and promotional activities.
Everyday Dairy Whitener and Amulya Dairy Whitener Compete in

Coffee Whiteners
The Everyday Dairy Whitener brand from Nestlé India and Amulya Dairy Whitener from
Gujarat Co-operative Milk Marketing Federation continued to be the most widely consumed
coffee whiteners in India in 2018. The strength of these brands can be attributed to their good
product quality, different pack sizes and competitive prices. The offer of smaller pack sizes of 1g
and 5g has been key to their growth as such pack sizes are suitable for carrying around in one’s
bag for one-time consumption. The only other company in coffee whiteners with a notable share
of sales was Anik Industries and its Anik Any Time brand, which is performing well in Northern
India.
CATEGORY DATA
Table 134 Sales of Other Dairy by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Chilled and Shelf - - - - - -

Stable Desserts
- Chilled Dairy Desserts - - - - - -
- Shelf Stable Dairy - - - - - -
Desserts
Chilled Snacks - - - - - -
Coffee Whiteners 33.4 34.5 35.6 37.2 38.9 40.4
Condensed Milk 28.5 29.2 29.8 30.3 30.9 31.3
- Flavoured Condensed - - - - - -
Milk
- Plain Condensed Milk 28.5 29.2 29.8 30.3 30.9 31.3
Cream - - - - - -
Fromage Frais and Quark - - - - - -
- Flavoured Fromage - - - - - -
Frais and Quark
- Plain Fromage Frais - - - - - -
and Quark
- Savoury Fromage Frais - - - - - -
and Quark
Other Dairy 61.9 63.7 65.5 67.5 69.8 71.7
Table 135 Sales of Other Dairy by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018

Stable Desserts
Desserts
Coffee Whiteners 10,863.0 12,081.0 14,480.0 16,915.0 19,919.0 23,327.1
Condensed Milk 4,649.8 5,168.4 5,704.3 6,244.6 6,945.2 7,729.4
Milk
- Plain Condensed Milk 4,649.8 5,168.4 5,704.3 6,244.6 6,945.2 7,729.4
Cream - - - - - -
Frais and Quark
and Quark
and Quark
Other Dairy 15,512.8 17,249.4 20,184.3 23,159.6 26,864.2 31,056.5
Table 136 Sales of Other Dairy by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Chilled and Shelf Stable Desserts - - -

- Chilled Dairy Desserts - - -
- Shelf Stable Dairy Desserts - - -
Chilled Snacks - - -
Coffee Whiteners 3.8 3.9 20.9
Condensed Milk 1.4 1.9 9.7
- Flavoured Condensed Milk - - -
- Plain Condensed Milk 1.4 1.9 9.7
Cream - - -
Fromage Frais and Quark - - -
- Flavoured Fromage Frais and Quark - - -
- Plain Fromage Frais and Quark - - -
- Savoury Fromage Frais and Quark - - -
Other Dairy 2.7 3.0 15.7
Table 137 Sales of Other Dairy by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Cream - - -
Other Dairy 15.6 14.9 100.2
Table 138 NBO Company Shares of Other Dairy: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Nestlé India Ltd 43.5 40.6 38.8 37.5 36.5

Milk Marketing
Federation Ltd
Anik Industries Pvt Ltd 1.1 0.5 12.2 12.1 12.0
Mother Dairy Fruit & - 1.9 1.9 1.8 1.6
Vegetable Pvt Ltd
Others 15.6 19.3 11.7 14.5 17.9
Total 100.0 100.0 100.0 100.0 100.0
Table 139 LBN Brand Shares of Other Dairy: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Everyday (Nestlé SA) Nestlé India Ltd 24.2 23.1 22.4 21.9
Milkmaid (Nestlé SA) Nestlé India Ltd 16.4 15.7 15.0 14.6
Anik (Lactalis, Anik Industries Pvt Ltd 0.5 12.2 12.1 12.0
Groupe)
Dailycious Mother Dairy Fruit & 1.9 1.9 1.8 1.6
Development Board)
(Britannia
Industries Ltd)
Others Others 19.3 11.7 14.5 17.9
Total Total 100.0 100.0 100.0 100.0
Table 140 Distribution of Other Dairy by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 5.4 5.2 5.2 5.1 5.0 4.9
Retailers
--- Hypermarkets 2.5 2.5 2.6 2.7 2.7 2.8

--- Supermarkets 2.9 2.7 2.6 2.4 2.3 2.1
Retailers
specialists
Grocers
--- Other Grocery 24.6 24.1 23.5 23.0 22.5 22.0
Retailers
Grocery Specialists
Non-Store Retailing - - - - - -
- Vending - - - - - -
- Internet Retailing - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 141 Forecast Sales of Other Dairy by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023

Stable Desserts
Desserts
Coffee Whiteners 40.4 42.1 43.5 44.8 45.9 46.7
Condensed Milk 31.3 31.9 32.6 33.2 33.7 34.3
Milk
- Plain Condensed Milk 31.3 31.9 32.6 33.2 33.7 34.3
Cream - - - - - -
Frais and Quark
and Quark
and Quark
Other Dairy 71.7 74.0 76.1 78.0 79.6 81.0
trade sources
Table 142 Forecast Sales of Other Dairy by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023

Stable Desserts
Desserts
Coffee Whiteners 23,327.1 25,820.9 28,236.6 30,553.5 32,710.9 34,646.1
Condensed Milk 7,729.4 8,120.5 8,438.5 8,663.9 8,796.2 8,829.7
Milk
- Plain Condensed Milk 7,729.4 8,120.5 8,438.5 8,663.9 8,796.2 8,829.7
Cream - - - - - -
Frais and Quark
and Quark
and Quark
Other Dairy 31,056.5 33,941.4 36,675.1 39,217.4 41,507.1 43,475.8
trade sources
Table 143 Forecast Sales of Other Dairy by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Cream - - -
trade sources
Table 144 Forecast Sales of Other Dairy by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total


Cream - - -
trade sources
CHOCOLATE CONFECTIONERY IN
INDIA - CATEGORY ANALYSIS
HEADLINES
 Chocolate confectionery records retail value growth of 12% to reach INR136.5 billion in 2018
 Premium chocolate confectionery witnesses a rise in sales during the review period
 Chocolate pouches and bags witnesses the highest retail value growth of 22% in 2018
 Average retail unit price of chocolate confectionery grows by 7% in 2018
 Mondelez India Foods Pvt Ltd focuses on premium products in chocolate confectionery and
dominates with a 54% retail value share in 2018
 Chocolate confectionery is expected to record a CAGR of 4% at constant 2018 prices to
reach INR167.9 billion in 2023
PROSPECTS
Growing Demand for Premium Chocolate in India

Indians travelling to international destinations often bring home premium chocolate as gifts for
their friends and relatives, and this trend increased during the review period with the increasing
number of Indians travelling abroad. However, in India the availability of such premium
chocolates remains limited to only a few global brands in retailing despite growing demand. The
popularity of premium chocolates is increasing due to its multiple uses since they are not only
consumed as snacks but are also used as ingredients to enhance the flavours of food, mainly
influenced by international cuisine. Premium chocolates are currently popular in boxed
assortments, countlines and tablets while a small number of imported chocolate pouches and
bags are also sold in India.
These trends will continue to drive the growth of premium chocolate confectionery with a
number of global and local brands entering to satisfy consumer demand. People are ready to
pay extra for premium chocolates, as chocolate lovers are often motivated to eat them during
celebrations and to indulge themselves occasionally. Premium chocolates are often the
preferred gift option during Indian festivals and compete with traditional Indian sweets.
Innovation in Chocolate Is Well Received by Indian Consumers

Flavour innovation is a new trend driving chocolate confectionery as manufacturers are
experimenting with different ingredients. Apart from fruit flavours such as strawberry and orange
peel, new flavours such as coffee, cinnamon and many others are performing well in chocolate
confectionery. The combination of flavours in chocolate products that offer dual tastes in a
single product are also becoming popular. Companies such as Mondelez India Foods Pvt Ltd
and Nestlé India Ltd lead in these innovative products especially in Cadbury Dairy Milk and Kit
Kat brands by the respective companies. These brands already have a large audience and
flavour innovations increased consumer demand. Many other companies subsequently
investigated flavour innovations that will be launched during the forecast period.
Apart from flavour, innovation in ingredients such as nuts and raisins is also growing in India.
Introduction of jellies, caramel, peanuts, cashew and almonds with chocolate confectionery
created demand for chocolate confectionery. These products are unique compared to normal
plain chocolates and are available at affordable price points. Continuing innovations are
expected to attract more chocolate lovers during the forecast period and manufacturers are
expected to launch new products.
Health Benefits Associated With Chocolate Varieties Drive Growth

Chocolate is considered a healthy indulgence. Social media quotes research journals and
suggestions from dieticians, resulting in people choosing dark chocolate, which has lower sugar
content. Indian meals often end with a dessert and health conscious consumers, especially
those living in cities, are eating dark chocolate or desserts made from dark chocolate.
Bourneville from Mondelez India Foods Pvt Ltd is the most popular dark chocolate brand in
India, although companies such as Gujarat Co-operative Milk Marketing Federation Ltd and
other domestic companies also launched new dark chocolate products at the end of 2017.
Despite its small size, organic chocolate saw growing demand. Concerned about the potential
harmful effects of artificial ingredients used in making chocolate, consumers are looking for
chocolate made from organically grown cocoa. A very few retail outlets are present in each city
that sell regional branded organic chocolate although sales are restricted to that city or
neighbouring cities. The demand for organic chocolate is expected to grow during the forecast
period, since the awareness and availability of organic chocolate is very limited in India.
Mondelez India Foods Pvt Ltd Focuses on Premium Products in

Chocolate Confectionery
Mondelez International Inc considers its Indian business to be crucial in achieving its global
online sales target by 2020. The company, which retained its leading position in chocolate
confectionery, plans to launch more premium range products under its popular mid-priced brand
5 Star. The company was successful in extending the Cadbury brand into the premium range
and aims to do this with all its confectionery brands. This is due to growing consumer demand
for premium chocolate confectionery, which is taking over the growth of economy and mid-
priced confectionery in India.
Ferrero India Pvt Ltd Aiming To Capture More Share in Chocolate

Confectionery
Ferrero India Pvt Ltd is planning to invest INR2,000 crore in India over three years to
manufacture products suited to local needs. The company is developing innovative chocolate
confectionery products with higher melting points due to the hot climate conditions in India. The
company acquired Nestlé Inc’s US confectionery business and is bringing more products to
India and capturing share from the existing leaders in chocolate confectionery. The company
enjoys significant shares in chocolate with toys and boxed assortments and plans to exploit the
growing demand by extending the premium range of chocolate confectionery products.
Many Local Companies Enter Chocolate Confectionery

Given the strong growth of chocolate confectionery in economy, mid-priced and premium
ranges, many domestic companies showed an interest in entering. Britannia Industries Ltd is
planning to launch products by 2019. Many regional players started to introduce chocolate
confectionery in the price point of INR2 to INR20 per unit in India. Due to the availability of
cheap labour and manufacturing equipment, these companies are focusing on catering to
consumers in rural areas and are offering strong competition to the leading players. Regional
manufacturer Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd
(CAMPCO) will launch premium chocolates under its boxed assortment range priced at INR500
per unit.
CATEGORY DATA
Table 145 Sales of Chocolate Confectionery by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Chocolate Pouches and 5.8 6.5 8.2 9.6 11.0 12.8

Bags
Boxed Assortments 6.6 7.4 8.2 8.9 9.6 9.9
Chocolate with Toys 4.6 5.6 7.0 6.8 6.4 6.6
Countlines 44.8 51.3 52.0 54.1 56.7 59.6
Seasonal Chocolate - - - - - -
Tablets 54.3 56.1 58.2 60.0 61.5 62.9
Other Chocolate 0.1 0.1 0.1 0.1 0.1 0.1
Confectionery
Chocolate Confectionery 116.2 127.0 133.6 139.4 145.3 151.9
Table 146 Sales of Chocolate Confectionery by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Chocolate Pouches and 3,445.4 4,074.0 5,426.0 6,664.0 8,015.0 9,778.3

Bags
Boxed Assortments 4,498.0 5,287.0 6,060.0 6,897.0 7,679.0 8,254.9
Chocolate with Toys 8,001.0 10,327.0 13,699.0 14,180.0 14,053.0 15,317.8
Countlines 22,978.0 28,721.4 30,793.3 33,989.8 37,979.9 42,917.3
Tablets 35,662.0 39,974.0 44,566.0 49,441.0 54,458.0 60,176.1
Other Chocolate 24.9 24.2 23.5 22.9 22.3 22.5
Confectionery
Chocolate Confectionery 74,609.3 88,407.6 100,567.8 111,194.7 122,207.2 136,466.9
Table 147 Sales of Chocolate Confectionery by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Chocolate Pouches and Bags 15.6 17.0 119.1

Boxed Assortments 2.9 8.3 49.2
Chocolate with Toys 3.6 7.5 43.8
Countlines 5.1 5.9 33.0
Seasonal Chocolate - - -
Tablets 2.3 3.0 15.8

Other Chocolate Confectionery -1.0 -3.6 -16.7
Chocolate Confectionery 4.5 5.5 30.6
Table 148 Sales of Chocolate Confectionery by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Tablets 10.5 11.0 68.7
Other Chocolate Confectionery 0.8 -2.0 -9.7
Table 149 Sales of Chocolate Tablets by Type: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Filled 30.5 30.8 31.6 30.5 30.5 30.5

Plain Dark 6.0 6.2 6.5 6.5 6.5 6.5
Plain Milk 60.0 60.0 59.0 60.0 60.0 60.0
Plain White 3.5 3.0 2.9 3.0 3.0 3.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 150 NBO Company Shares of Chocolate Confectionery: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Pvt Ltd
Nestlé India Ltd 14.1 11.1 10.6 10.9 10.9
Hershey India Pvt Ltd - 0.8 1.3 1.8 2.4
Mars International 3.7 3.2 2.7 2.5 2.3
India Pvt Ltd
Global Consumer - 0.3 0.6 0.8 0.9
Products Pvt Ltd
Milk Marketing
Federation Ltd
Chocoladefabriken Lindt 0.2 0.2 0.2 0.2 0.2
& Sprüngli AG
Buttercup Confectionery 0.2 0.1 0.1 0.2 0.2
Ltd
Cadbury India Ltd - - - - -
Others 9.3 14.2 17.0 18.5 19.2
Total 100.0 100.0 100.0 100.0 100.0
Table 151 LBN Brand Shares of Chocolate Confectionery: % Value 2015-2018
% retail value rsp

Cadbury Dairy Milk Mondelez India Foods 29.4 28.4 27.7 27.3
(Mondelez Pvt Ltd
International Inc)
Kinder Joy (Ferrero Ferrero India Pvt Ltd 10.8 9.8 8.6 8.5
& related parties)
Cadbury Gems Mondelez India Foods 7.1 7.2 7.3 7.3
(Mondelez Pvt Ltd
International Inc)
5 Star (Mondelez Mondelez India Foods 7.3 6.8 6.4 6.0
International Inc) Pvt Ltd
Cadbury Perk Mondelez India Foods 5.1 5.2 5.4 5.5
(Mondelez Pvt Ltd
International Inc)
Kit Kat (Nestlé SA) Nestlé India Ltd 4.0 3.9 4.1 4.2
Munch (Nestlé SA) Nestlé India Ltd 4.1 4.0 4.1 4.0
Cadbury Mondelez India Foods 3.8 3.7 3.6 3.4
Celebrations Pvt Ltd
(Mondelez
International Inc)
Brookside (Hershey Hershey India Pvt Ltd 0.8 1.3 1.8 2.4
Co, The)
Snickers (Mars Inc) Mars International 2.5 2.0 1.9 1.7
India Pvt Ltd
Nestlé Premium Milk Nestlé India Ltd 1.6 1.5 1.5 1.6
Chocolate (Nestlé SA)
Toblerone (Mondelez Mondelez India Foods 1.5 1.4 1.3 1.2
LuvIt Global Consumer 0.3 0.6 0.8 0.9
Products Pvt Ltd
Milk Marketing
Federation Ltd
Ferrero Rocher Ferrero India Pvt Ltd 1.2 1.0 0.8 0.8
(Ferrero & related
parties)
Bournville Mondelez India Foods 0.7 0.7 0.7 0.7
(Mondelez Pvt Ltd
International Inc)
Milkybar (Nestlé SA) Nestlé India Ltd 0.6 0.6 0.5 0.5
Mars (Mars Inc) Mars International 0.7 0.5 0.5 0.5
India Pvt Ltd
Bar One (Nestlé SA) Nestlé India Ltd 0.4 0.4 0.4 0.3
Nestlé Dark Nestlé India Ltd 0.2 0.2 0.2 0.2
Chocolate (Nestlé SA)
Lindt Chocoladefabriken Lindt 0.2 0.2 0.2 0.2
& Sprüngli AG
Choco Swiss Buttercup Confectionery 0.1 0.1 0.2 0.2
Ltd
After Eight (Nestlé Nestlé India Ltd 0.1 0.1 0.1 0.1
SA)
5 Star (Cadbury Plc) Cadbury India Ltd - - - -
5 Star (Kraft Foods Cadbury India Ltd - - - -
Inc)
5 Star (Mondelez Cadbury India Ltd - - - -
International Inc)
Bournville Cadbury India Ltd - - - -
(Mondelez
International Inc)
Cadbury Cadbury India Ltd - - - -
Celebrations
(Cadbury Plc)
Celebrations (Kraft
Foods Inc)
Celebrations
(Mondelez
International Inc)
Others Others 16.6 19.4 20.9 21.5
Total Total 100.0 100.0 100.0 100.0
Table 152 Distribution of Chocolate Confectionery by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 12.0 12.5 12.9 13.4 13.9 14.5
Retailers
--- Hypermarkets 4.7 4.9 5.1 5.2 5.4 5.6
--- Supermarkets 6.8 7.1 7.4 7.7 8.0 8.4
Retailers
specialists
Grocers
--- Other Grocery 8.3 8.6 9.0 9.3 9.7 10.1
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0

Table 153 Forecast Sales of Chocolate Confectionery by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Chocolate Pouches and 12.8 14.7 16.7 18.9 21.2 23.5

Bags
Boxed Assortments 9.9 10.2 10.4 10.7 11.0 11.3
Chocolate with Toys 6.6 6.9 7.0 7.2 7.3 7.4
Countlines 59.6 62.6 65.5 68.5 71.5 74.4
Tablets 62.9 64.4 66.0 67.8 69.7 71.7
Other Chocolate 0.1 0.1 0.1 0.1 0.1 0.1
Confectionery
Chocolate Confectionery 151.9 158.7 165.8 173.1 180.7 188.4
trade sources
Table 154 Forecast Sales of Chocolate Confectionery by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Chocolate Pouches and 9,778.3 11,234.2 12,735.3 14,242.1 15,709.8 17,088.9

Bags
Boxed Assortments 8,254.9 8,425.3 8,555.8 8,643.9 8,688.5 8,688.5
Chocolate with Toys 15,317.8 15,786.0 16,117.9 16,302.3 16,333.5 16,208.8
Countlines 42,917.3 45,867.2 48,582.3 50,992.4 53,036.1 54,655.5
Tablets 60,176.1 63,049.1 65,638.0 67,892.2 69,771.1 71,235.6
Other Chocolate 22.5 21.6 20.7 19.8 19.0 18.1
Confectionery
Chocolate Confectionery 136,466.9 144,383.4 151,650.0 158,092.8 163,557.9 167,895.4
trade sources
Table 155 Forecast Sales of Chocolate Confectionery by Category: % Volume Growth

2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Tablets 2.4 2.7 14.0
trade sources
Table 156 Forecast Sales of Chocolate Confectionery by Category: % Value Growth

2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Tablets 4.8 3.4 18.4
trade sources
GUM IN INDIA - CATEGORY ANALYSIS

HEADLINES
 Gum records retail value growth of 11% to reach INR50.7 billion and retail volume growth of
6% to reach 103,000 tonnes in 2018
 Gum reaches maturity
 Sugar free chewing gum achieves the highest retail value growth of 19% in 2018
 Average retail unit price grows by 5% in 2018
 Perfetti Van Melle India Pvt Ltd leads with a 21% retail value share in 2018
 Gum is expected to record a CAGR of 4% at constant 2018 prices to reach INR60.8 billion in
2023
PROSPECTS
Bad Breath and Smell of Cigarettes Support Gum Sales

Professionals and employees in India spend an average of 45-50 hours per week in offices
with minimal breaks, which can lead to poor oral health. Many working people therefore often
resort to chewing gum and bubble gum to keep their mouths fresh. Workers usually buy bulk
packs of gum to carry in their bags or keep at their desks. Similarly, chewing gum and bubble
gum are popular among smokers who chew gum to mask the smell of cigarettes. Consumers
also snack on chewing gum and bubble gum while driving, after meals and many other
activities, which supported value growth of gum.
Chewing gum and bubble gum with multipurpose uses are popular amongst the young and
this is expected to continue during the forecast period. Maintaining oral hygiene with regular
chewing of gum was established as a trend in the review period and this is expected to continue
in the forecast period.
Product Lifecycle of Gum Normalises Due To Maturity

Gum in India reached maturity during the review period as it is widely consumed across all
age groups despite lack of brand promotion by companies. No innovation or new product
launches were seen in 2018, signifying that consumer interest remains flat. Within overall
confectionery, gum is mainly consumed for oral hygiene, while chocolates, boiled sweets,
toffees and other confectionery are consumed as indulgence products. Witnessing such trends
and to increase the sales of gum, manufacturers began to restrict unit price increases, however
due to the rise in the cost of raw materials manufacturers were nevertheless forced to increase
unit prices. International players dominate gum although there was competition from regional
companies with gum available at lower price points. All of these factors led to stagnant retail
value growth towards the end of the review period and this is expected to continue during the
forecast period.
Shopping Habits of Consumers Has Changed for Gums

Impulse purchases of gum by price conscious consumers changed drastically for several
reasons including refraining from consuming sugar-based snacks and artificial flavours. Sugar-
free gum is bought by consumers to maintain oral hygiene rather than as an impulse purchase.
In addition, parents are more worried about buying gum for their children rather than choosing
chocolate or sugar confectionery because of the common fear of children swallowing the gum.
Children used to be the largest consumer group of gum although this is declining due to parents
forcing them to stop eating gum and encouraging them to eat other confectionery. Gum sales
increased among young adults, which is expected to continue during the forecast period.
International Players Continue To Dominate Gum in India

Perfetti Van Melle India Pvt Ltd continues to hold the leading position in gum with its popular
brands Happydent and Center Fresh, followed by Wrigley India Pvt Ltd with its popular brand
Orbit. These brands have a longstanding presence of more than a decade and have many loyal
consumers in India, which helped to maintain the current position. The products are available at
various price ranges and suitable for both one time consumption and carry on packs.
Happydent, Center Fresh and Orbit brands are popular with consumers as they are effective in
masking bad breath and maintaining oral hygiene. They are expected to continue to lead gum in
India despite strong competition from regional brands
Regional Companies Offer Strong Competition To International Players

Bubble gum and chewing gum in the price ranges of INR0.5 and INR1 per unit by regional
companies are taking over tier II cities and other rural areas in India. Most consumers in rural
regions prefer to buy single consumption gum and are particular about the number of units that
can be bought at different price ranges. Capitalising on these opportunities, many players
including Synergy Foods Products Pvt Ltd, Aryan International Specialities Ltd and many others
launched products at lower price points to compete with international companies. These
companies also specialise in offering products with assorted flavours and available in various
pack sizes in rural regions. Such product specialisation proved effective and these players are
expected to acquire significant share in overall gum during the forecast period.
CATEGORY DATA
Table 157 Sales of Gum by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Bubble Gum 50.7 58.2 66.1 73.4 78.5 83.3

Chewing Gum 13.0 14.6 16.4 18.1 18.9 19.6
Gum 63.8 72.9 82.5 91.5 97.4 102.8
Table 158 Sales of Gum by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Bubble Gum 16,133.9 19,113.6 22,514.2 26,435.9 29,212.0 32,175.1

Chewing Gum 8,729.5 10,587.2 12,562.1 14,929.4 16,655.0 18,554.3
Gum 24,863.4 29,700.8 35,076.3 41,365.3 45,867.0 50,729.4

Table 159 Sales of Gum by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Bubble Gum 6.1 10.4 64.1

Chewing Gum 3.7 8.4 50.0
Gum 5.6 10.0 61.2
Table 160 Sales of Gum by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Bubble Gum 10.1 14.8 99.4

Chewing Gum 11.4 16.3 112.5
Gum 10.6 15.3 104.0
Table 161 Sales of Gum by Flavour: Rankings 2013-2018
ranking
2013 2014 2015 2016 2017 2018
Spearmint 2 2 1 1 1 1
Peppermint 4 3 2 2 2 2
Menthol 7 5 4 3 3 3
Strawberry 1 1 3 4 4 4
Juicy Fruit 3 4 5 5 5 5
Honey & Lemon 8 6 6 6 6 6
Apple 5 7 7 7 7 7
Blueberry 6 8 8 8 8 8
Table 162 NBO Company Shares of Gum: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Perfetti Van Melle 35.9 30.1 25.8 23.4 21.4

India Pvt Ltd
Wrigley India Pvt Ltd 8.2 6.9 5.5 5.0 4.6
Pvt Ltd
Candico India Ltd 0.5 0.5 0.4 0.4 0.4
ITC Ltd - - 0.2 0.2 0.2

Others 53.6 60.7 66.5 69.3 71.8
Total 100.0 100.0 100.0 100.0 100.0
Table 163 LBN Brand Shares of Gum: % Value 2015-2018
% retail value rsp

Center Fresh Perfetti Van Melle 12.5 10.5 9.6 8.9

(Perfetti Van Melle India Pvt Ltd
Group)
Center Fruit Perfetti Van Melle 12.0 10.5 9.5 8.6
Group)
Boomer (Mars Inc) Wrigley India Pvt Ltd 5.0 3.9 3.6 3.3
Big Babol (Perfetti Perfetti Van Melle 3.4 2.9 2.6 2.4
Van Melle Group) India Pvt Ltd
Bubbaloo (Mondelez Mondelez India Foods 1.8 1.6 1.6 1.6
Happydent (Perfetti Perfetti Van Melle 1.8 1.6 1.4 1.3
Orbit (Mars Inc) Wrigley India Pvt Ltd 1.4 1.2 1.1 1.0
Wrigley's (Mars Inc) Wrigley India Pvt Ltd 0.5 0.4 0.3 0.3
Candico Candico India Ltd 0.4 0.3 0.3 0.3
Gumon ITC Ltd - 0.2 0.2 0.2
Chlor-Mint Perfetti Van Melle 0.5 0.4 0.2 0.2
Group)
Bubbaloo (Cadbury Cadbury India Ltd - - - -
Plc)
Bubbaloo (Kraft Cadbury India Ltd - - - -
Foods Inc)
Bubbaloo (Mondelez Cadbury India Ltd - - - -
International Inc)
Center (Perfetti Perfetti Van Melle - - - -
Trex (Mars Inc) Wrigley India Pvt Ltd - - - -
Others Others 60.9 66.7 69.5 71.9
Total Total 100.0 100.0 100.0 100.0
Table 164 Distribution of Gum by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 16.8 16.8 16.9 17.0 17.0 17.1
Retailers

--- Hypermarkets 9.2 9.1 9.1 9.1 9.1 9.1
--- Supermarkets 6.3 6.3 6.3 6.3 6.3 6.3
Retailers
specialists
Grocers
--- Other Grocery 4.6 4.6 4.6 4.6 4.6 4.6
Retailers
- Non-Grocery Specialists - 0.0 - 0.0 - 0.0
-- Other Foods Non- - 0.0 - 0.0 - 0.0
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 165 Forecast Sales of Gum by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Bubble Gum 83.3 88.2 93.3 98.4 103.6 108.6

Chewing Gum 19.6 20.3 21.1 21.9 22.7 23.6
Gum 102.8 108.5 114.3 120.3 126.4 132.2
trade sources
Table 166 Forecast Sales of Gum by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Bubble Gum 32,175.1 33,629.8 34,954.9 36,127.8 37,130.6 37,827.3

Chewing Gum 18,554.3 19,607.9 20,593.7 21,488.8 22,272.4 22,922.9
Gum 50,729.4 53,237.7 55,548.6 57,616.6 59,403.0 60,750.2
trade sources
Table 167 Forecast Sales of Gum by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Bubble Gum 5.9 5.4 30.3

Gum 5.5 5.1 28.5

trade sources
Table 168 Forecast Sales of Gum by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Bubble Gum 4.5 3.3 17.6

Gum 4.9 3.7 19.8
trade sources
SUGAR CONFECTIONERY IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 Sugar confectionery records 19% retail value growth to reach INR117.3 billion in 2018
 Active promotions and innovative products drive growth in 2018
 Boiled sweets records the highest retail value growth of 36% in 2018
 Average retail unit price of sugar confectionery grows by 6% in 2018
 Others value share rises with imitation products flooding sugar confectionery while Parle
Products Pvt Ltd is the leading player with a 12% retail value share in 2018
 Sugar confectionery is expected to record a CAGR of 11% at constant 2018 prices over the
PROSPECTS
Active Promotions and New Flavours Drive Growth

Continuing the trend of product innovation, 2018 also witnessed excellent growth in sugar
confectionery. Highlights included the introduction of traditional Indian flavours, new product
launches and continuous promotion by companies. Pulse candy, a boiled sweet by DS Group,
was an instant hit in 2015 due to its unique taste of raw mango boiled candy with a tangy
powder at the centre. Following its success, the company extended the flavour range to include
pineapple. Companies such as Parle Products Pvt Ltd and ITC Ltd introduced new jellies and
toffees with strawberry flavour to cater to the growing needs of consumers, and actively
promoted their brands in all media to attract more consumers.
Despite consuming less sugar, people still love to eat sugar confectionery and are looking for
new flavours. Recent launches by companies such as Parle Products Pvt Ltd’s Mazelo Fruit
Jelly are popular with consumers and promotions will continue to drive growth of sugar
confectionery in the forecast period.
Healthier Sugar Confectionery Launches Planned

With consumer interest in switching to low sugar products within packaged food, many
manufacturers are anticipating that demand for low sugar products will also be seen in sugar
confectionery. To maintain their lead, companies such as Parle Products Pvt Ltd, ITC Ltd and
many other domestic players are planning to launch healthier versions of sugar confectionery by
the end of 2018 and early 2019. Parle Products Pvt Ltd recently announced its plan to launch
sweets in three flavours enriched with vitamin C and instant energy sugar-free sweets, while ITC
Ltd plans to launch jellies enriched with vitamin C, zinc and iron under the brand name
Candyman Jelimals. This is a significant step in health and wellness confectionery as
consumers are keen to consume healthier snacks.
Health and wellness products within confectionery are expected to drive demand in the
forecast period and will create opportunities for other companies to follow.
Demographics and Demand Play An Important Role in Driving Sugar

Confectionery Growth
Sugar confectionery, like chocolate confectionery, retains a wider audience as products are
popular with all age groups. Confectionery products such as boiled sweets are popular with all
age groups while toffees, caramel, and nougat and lollipops are most popular with children.
However, mints are often consumed by smokers trying to mask the smell of cigarettes, which
are most popular with consumers aged 18 years and above. Although companies do not
differentiate between consumers for the sales of their products, people often choose their
confectionery based on their habit. Hence, the demand among the various sugar confectionery
types is driven by consumer need and age groups, amongst other factors.
Perfetti Witnesses Declining Sales During the Review Period and in

2018
With competition intensifying, especially in boiled sweets, Perfetti Van Melle India Pvt Ltd
moved much of its portfolio from the INR0.50 price point to INR1 with added product value. This
was in opposition to the behaviour of companies such as ITC Ltd, Parle Products Pvt Ltd and
many others keeping their product prices at INR0.50, leading to significant challenges. Perfetti
Van Melle India Pvt Ltd also faced strong competition from international players such as Ferrero
India’s Tic Tac mints and domestic player ITC Ltd’s Mint-O. In addition, several small local
companies across India offer boiled sweets and gum in many traditional flavours, which pose
strong competition to Perfetti Van Melle India Pvt Ltd.
New Product Launches See Significant Growth in Sugar Confectionery

Three domestic companies DS Group, Parle Products Pvt Ltd and ITC Ltd continued to
outperform every other player within boiled sweets in 2018. There is a unique factor for each
company’s success in India: Pulse candy by DS Group launched in 2015 was an instant hit with
consumers due to its unique traditional flavours; Mango Bite from Parle Products Pvt Ltd was
always popular due to its rich, sweet, raw mango taste; and ITC Ltd’s Candyman performed well
with its assortment of flavoured boiled sweets. In categories such as lollipops, toffees, caramel
and nougats, pastilles, gums, jellies and chews, and mints, new products were launched by
many companies such as CAMPCO and new entrants in sugar confectionery. The jellies
launched by Orkla Group under the brand name Laban in India during third quarter of 2017 were
well received by consumers.
Others Share Rises With Imitation Products Flooding Sugar

Confectionery
The ongoing success of several innovative sugar confectionery products that entered during
the review period created opportunities for several companies to offer imitation products. These
products are usually offered at lower price points compared to other products and are often
confused with the originals. Advancements in manufacturing technology and packaging costs
decreased the affordability of machinery and manpower to manufacture several packaged food
products. Many regional players appeared in cities and offered such sugar confectionery in tier II
cities and other rural regions at lower price points. These products are difficult to differentiate
from the original sugar confectionery since the product packaging bears a strong resemblance
to that of successful products. Hence, there is a significant increase in the share of a number of
other confectionery manufacturers who are competing against established players. Successful
sales of imitation brands and lower price points will further drive sales as consumers are often
tricked into buying such brands.
CATEGORY DATA
Table 169 Sales of Sugar Confectionery by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Boiled Sweets 26.8 29.1 33.0 37.1 39.2 48.5

Liquorice - - - - - -
Lollipops 4.1 4.2 4.2 4.3 4.4 4.5
Medicated Confectionery 11.0 11.7 12.5 11.9 12.0 12.1
Mints 19.7 22.7 25.3 27.7 28.7 29.8
- Power Mints 7.5 7.9 8.3 8.8 9.2 9.7
- Standard Mints 12.1 14.8 17.0 18.9 19.5 20.1
Pastilles, Gums, 16.2 18.8 21.0 23.6 24.7 26.5
Jellies and Chews
Toffees, Caramels and 144.4 165.0 186.3 209.1 234.7 264.3
Nougat
Other Sugar Confectionery - - - - - -
Sugar Confectionery 222.2 251.5 282.4 313.7 343.7 385.7
Table 170 Sales of Sugar Confectionery by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Boiled Sweets 4,377.3 5,021.0 6,069.0 8,577.3 12,901.7 17,546.3

Lollipops 1,070.1 1,146.1 1,240.9 1,347.8 1,467.7 1,605.7
Medicated Confectionery 4,731.0 5,295.5 5,976.1 6,079.0 6,504.5 7,024.9
Mints 4,377.5 5,307.5 6,233.7 7,272.2 7,982.5 8,839.9
- Power Mints 1,642.5 1,709.5 1,788.7 1,887.1 1,991.0 2,099.6
- Standard Mints 2,735.0 3,598.0 4,445.1 5,385.0 5,991.5 6,740.4
Pastilles, Gums, 3,756.5 4,821.5 6,003.8 7,465.8 8,596.0 9,885.4
Jellies and Chews
Toffees, Caramels and 31,033.4 36,908.0 43,485.1 51,362.1 60,818.0 72,373.4
Nougat
Sugar Confectionery 49,345.8 58,499.5 69,008.5 82,104.1 98,270.5 117,275.7
Table 171 Sales of Sugar Confectionery by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Boiled Sweets 23.6 12.6 80.9
Liquorice - - -
Lollipops 2.2 1.9 10.0
Medicated Confectionery 1.1 1.9 9.6
Mints 3.9 8.7 51.6
- Power Mints 5.2 5.3 29.3
- Standard Mints 3.3 10.6 65.4
Pastilles, Gums, Jellies and Chews 7.5 10.4 63.8
Toffees, Caramels and Nougat 12.6 12.9 83.0
Other Sugar Confectionery - - -
Sugar Confectionery 12.2 11.7 73.6
Table 172 Sales of Sugar Confectionery by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Liquorice - - -
Mints 10.7 15.1 101.9
- Power Mints 5.5 5.0 27.8
Table 173 Sales of Pastilles, Gums, Jellies and Chews by Type: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Gums, Jellies and Chews 64.0 64.2 64.4 65.0 65.2 65.4
Pastilles 36.0 35.8 35.6 35.0 34.8 34.6
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 174 NBO Company Shares of Sugar Confectionery: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

ITC Ltd 12.8 12.8 12.6 11.9 11.4
DS Group - 1.6 4.0 7.3 9.5
Pvt Ltd
Perfetti Van Melle 13.8 11.1 9.4 8.2 6.9
India Pvt Ltd
Nestlé India Ltd 6.5 4.6 4.2 3.9 3.7

PGT Healthcare 4.7 4.4 3.8 3.3 2.9
Mapro Foods Pvt Ltd 1.6 1.9 2.1 2.3 2.4
Lotte India Corp Ltd 4.1 3.3 2.8 2.2 1.8
Inbisco India Pvt Ltd 0.9 1.1 1.2 1.2 1.2
Ravalgaon Sugar Farms Ltd 0.9 0.8 0.8 0.7 0.8
Plethico 0.5 0.5 0.5 0.4 0.4
Pharmaceuticals Ltd
Mala's Fruit Products 0.3 0.4 0.4 0.4 0.4
Wrigley India Pvt Ltd 0.9 0.6 0.5 0.4 0.4
Dabur India Ltd 0.3 0.3 0.3 0.3 0.3
Fabs International 0.1 0.1 0.1 0.1 0.1
Hershey India Pvt Ltd 0.2 0.2 0.1 0.1 0.1
Procter & Gamble - - - - -
Hygiene & Health Care Ltd
Godrej Hershey Foods & - - - - -
Beverages Ltd
Others 23.7 28.8 32.2 34.4 36.8
Total 100.0 100.0 100.0 100.0 100.0
Table 175 LBN Brand Shares of Sugar Confectionery: % Value 2015-2018
% retail value rsp

Pulse DS Group 1.6 4.0 7.3 9.5

Candyman (ITC Group) ITC Ltd 9.3 8.7 8.3 7.9
Cadbury Choclairs Mondelez India Foods 7.4 6.9 6.3 5.7
(Mondelez Pvt Ltd
International Inc)
Alpenliebe Perfetti Van Melle 7.7 6.6 5.9 5.1
Group)
Mint-O (ITC Group) ITC Ltd 3.5 3.9 3.7 3.5
Kismi Parle Products Pvt Ltd 4.1 3.7 3.3 3.1
Vicks (Procter & PGT Healthcare 4.4 3.8 3.3 2.9
Gamble Co, The)
Falero Mapro Foods Pvt Ltd 1.9 2.1 2.3 2.4
Halls (Mondelez Mondelez India Foods 2.5 2.3 2.1 1.9
Tic Tac (Ferrero & Ferrero India Pvt Ltd 2.3 1.9 1.7 1.6
related parties)
Kopiko (Mayora Inbisco India Pvt Ltd 1.1 1.2 1.2 1.2
Indah Tbk PT)
Milkybar (Nestlé SA) Nestlé India Ltd 1.4 1.3 1.2 1.2
Coffy Bite (Lotte Lotte India Corp Ltd 1.7 1.5 1.2 1.0
Group)
Mentos (Perfetti Perfetti Van Melle 1.4 1.2 1.0 0.8
Polo (Nestlé SA) Nestlé India Ltd 0.7 0.7 0.7 0.7
Chlor-Mint Perfetti Van Melle 1.3 1.0 0.8 0.6
Group)
Londonderry (Parle Parle Products Pvt Ltd 0.6 0.6 0.6 0.6
Group)
Coffee Break Ravalgaon Sugar Farms Ltd 0.6 0.6 0.6 0.6
Lacto King (Lotte Lotte India Corp Ltd 0.8 0.7 0.5 0.4
Group)
Travisil Plethico 0.5 0.5 0.4 0.4
Pharmaceuticals Ltd
Froogle Mala's Fruit Products 0.4 0.4 0.4 0.4
Dabur Dabur India Ltd 0.3 0.3 0.3 0.3
Solano (Mars Inc) Wrigley India Pvt Ltd 0.4 0.3 0.3 0.2
Fruit-tella Perfetti Van Melle 0.4 0.3 0.3 0.2
Group)
Cofitos (Perfetti Perfetti Van Melle 0.4 0.3 0.3 0.2
Ravalgaon Ravalgaon Sugar Farms Ltd 0.2 0.2 0.2 0.2
Frumato Fabs International 0.1 0.1 0.1 0.1
Pim Pom (Mars Inc) Wrigley India Pvt Ltd 0.2 0.2 0.1 0.1
Nutrine (Hershey Hershey India Pvt Ltd 0.1 0.1 0.1 0.0
Co, The)
Others Others 38.9 41.5 42.8 44.6
Total Total 100.0 100.0 100.0 100.0
Table 176 Distribution of Sugar Confectionery by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 5.6 5.7 5.8 5.9 6.1 6.3
Retailers
--- Hypermarkets 2.2 2.3 2.5 2.7 2.8 3.0
--- Supermarkets 2.9 2.8 2.8 2.7 2.7 2.6
Retailers
specialists
Grocers
--- Other Grocery 5.4 5.3 5.3 5.2 5.1 5.1
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 177 Forecast Sales of Sugar Confectionery by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Boiled Sweets 48.5 59.5 72.5 87.7 105.2 125.2

Lollipops 4.5 4.6 4.7 4.8 5.0 5.1
Medicated Confectionery 12.1 12.2 12.4 12.6 12.8 13.0
Mints 29.8 31.0 32.1 33.2 34.4 35.5
- Power Mints 9.7 10.2 10.6 10.9 11.2 11.4
- Standard Mints 20.1 20.8 21.5 22.3 23.1 24.0
Pastilles, Gums, 26.5 28.4 30.4 32.3 34.3 36.3
Jellies and Chews
Toffees, Caramels and 264.3 295.6 328.5 362.7 397.7 433.0
Nougat
Sugar Confectionery 385.7 431.3 480.6 533.3 589.3 648.1
trade sources
Table 178 Forecast Sales of Sugar Confectionery by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Boiled Sweets 17,546.3 22,402.4 28,132.1 34,735.4 42,159.9 50,286.0

Lollipops 1,605.7 1,667.0 1,721.2 1,767.2 1,804.3 1,831.8
Medicated Confectionery 7,024.9 7,199.4 7,337.0 7,435.0 7,491.8 7,506.0
Mints 8,839.9 9,283.3 9,687.1 10,043.3 10,344.9 10,585.2
- Power Mints 2,099.6 2,098.9 2,084.3 2,056.1 2,014.7 1,960.9
- Standard Mints 6,740.4 7,184.4 7,602.8 7,987.2 8,330.2 8,624.3
Pastilles, Gums, 9,885.4 10,744.1 11,564.6 12,325.9 13,008.1 13,591.5
Jellies and Chews
Toffees, Caramels and 72,373.4 81,215.4 90,052.7 98,644.8 106,739.9 114,073.0
Nougat
Sugar Confectionery 117,275.7 132,511.7 148,494.9 164,951.6 181,548.8 197,873.6
trade sources
Table 179 Forecast Sales of Sugar Confectionery by Category: % Volume Growth 2018-
2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Liquorice - - -
Mints 3.8 3.5 18.9
- Power Mints 4.6 3.3 17.6

trade sources
Table 180 Forecast Sales of Sugar Confectionery by Category: % Value Growth 2018-
2023

2018/2019 2018-23 CAGR 2018/23 Total

Liquorice - - -
Mints 5.0 3.7 19.7
- Power Mints 0.0 -1.4 -6.6
trade sources
ICE CREAM AND FROZEN DESSERTS

IN INDIA - CATEGORY ANALYSIS
HEADLINES
 Ice cream and frozen desserts records retail value growth of 19% to reach INR140.0 billion in
2018
 Soaring temperatures across India support growth
 Single portion dairy ice cream achieves the highest growth of 19% in 2018
 Average retail unit price of ice cream grows by 5% in 2018
 Gujarat Co-operative Milk Marketing Federation Ltd leads with an 18% retail value share in
2018
 Ice cream and frozen desserts is expected to record a CAGR of 11% at constant 2018 prices
to reach INR238.1 billion in 2023
PROSPECTS
Soaring Temperatures Across India Drive Ice Cream

The average temperature in India is 31° C and it is constantly rising. This hot weather
encourages people to consume more frozen snacks, desserts and cold beverages amongst
others. Ice cream and frozen desserts are popular consumer choices to combat the heat and
they are slowly moving away from carbonated soft drinks. Dairy ice cream including single
portion dairy ice cream and bulk dairy ice cream are the most popular in India due to the
country’s affinity for dairy products. However, single portion water ice cream is popular among
children as products such as ice lollies, ice candies and many other local water ice cream
variants are sold across India.
With the rising global temperatures, India is expected to witness higher temperatures in the
forecast period, which will further promote the growth of ice cream and frozen desserts in India.
The products will compete with soft drinks, flavoured milk, yoghurt and other products that are
sold in frozen and chilled formats and are expected to remain the most popular products during
the forecast period.
Improvement in Cold Chain Facilities Supports Ice Cream Sales in India

Ice cream and frozen desserts used to be sold only at ice cream parlours and local bakeries,
but due to the rise in demand for ice cream, sales via other retail channels increased. Due to
advancements in technology, government support to provide electricity all-year round, and the
affordability of compact freezers and chillers, many independent small grocers and other
retailing channels started to sell ice cream at their stores. Ice cream manufacturers are also
helping independent small grocers to own these freezers and chillers by offering monetary
support via credit and in turn promoting their brands.
This mutual support by retailers and manufacturers increased in 2018 and resulted in higher
sales of ice cream and frozen desserts. This trend is expected to continue during the forecast
period as many regional manufacturers are looking for this cooperation to increase the sales of
their products.
Premium Ice Cream Is Flourishing in India

A series of premium ice cream launches were seen in 2017 as demand for the products is
increasing, especially in upper middle class and affluent consumers. These premium ice creams
not only offer rich quality, extravagant flavours and exotic ingredients, but also focus on health
conscious consumers. Hindustan Unilever Ltd collaborated with patisserie queen Pooja Dhingra
to offer what the company calls “fashion inspired Magnum X ice cream” under the tag line “Take
Pleasure Seriously”. Hindustan Unilever Ltd’s innovative approach is to create premium ice
cream by drawing inspiration from red carpet trends, which are limited edition Magnum ice
creams designed for adults.
Companies are moving from their traditional ice cream to capture a wider audience for their
products and these methods were effective as sales rose during the review period. Such
innovation in cross industry specialisation is expected to continue during the forecast period and
drive the sales of ice cream and frozen desserts in India.
Lotte Buys Havmor and Enters Ice Cream in India

Lotte Corporation India Ltd acquired Havmor Foods Ltd for INR102 million in November 2017
and entered ice cream in India. Havmor had a network of 30,000 ice cream outlets across eight
states and is the seventh largest player in ice cream and frozen desserts. The company
manufactures 150 kinds of products and Lotte is planning to expand more in the northwestern
regions of India where the temperature is higher due to its arid conditions.
Lotte Corporation India Ltd, which entered India by acquiring Parry’s Confectionery Ltd and
became popular with its Choco Pie brand is expected to replicate this in ice cream and frozen
desserts. The company is planning to invest in distribution and promotion of the brands during
the forecast period.
Ice Cream Continues To Be Dominated by Domestic Companies

Domestic companies dominate retail value sales of ice cream and frozen desserts in India, led
by Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF). GCMMF is the country’s
largest dairy cooperative and sells many varieties of ice cream under its brand name Amul. The
brand is synonymous with purity and trust across India and has a large base of loyal consumers.
The cooperative also promoted its ice cream brands across India and poses strong competition
to international companies due to its lower price points compared to international brands.
Apart from the leading dairy cooperative, many domestic private companies such as Vadilal
Industries Ltd, Mother Dairy Fruit & Vegetable Pvt Ltd and others are popular in different regions
in India.
Regional Dairy Cooperative Penetrates Rural Areas

Every state in India has its own regional dairy cooperative, which try to establish sales of its
respective ice cream brands. Product promotion, higher penetration and other activities are
frequently carried out by these dairy cooperatives to increase awareness of their products. Dairy
and ice cream parlours are the most effective mode through which many of these dairy
cooperatives expand their networks in semi-urban and rural regions of India. They offer ice
cream including all of their dairy products through these parlours at lower price points compared
to other retail channels due to direct sales, which remove the middle men involved in trade. This
initiative is seen with Karnataka Milk Marketing Federation Ltd and Mother Dairy Fruits &
Vegetables Pvt Ltd, which are expanding in exclusive brand outlets set up across rural regions
to increase sales of their products.
Selling via exclusive brand outlets was successful for many dairy cooperatives, and many
national private companies such as Hatsun Agro Products Pvt Ltd and Devyani Food Industries
Pvt Ltd are following a similar approach to increase sales for ice cream and frozen desserts in
India
CATEGORY DATA
Table 181 Sales of Ice Cream and Frozen Desserts by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Frozen Desserts - - - - - -
Ice Cream 264.2 288.8 319.1 360.9 407.0 460.2
- Frozen Yoghurt - - - - - -
- Impulse Ice Cream 156.6 173.0 194.2 223.3 254.0 289.1
-- Single Portion Dairy 122.4 136.5 154.5 179.1 205.2 235.2
Ice Cream
-- Single Portion Water 34.2 36.5 39.7 44.1 48.8 54.0
Ice Cream
- Unpackaged Ice Cream - - - - - -
- Take-Home Ice Cream 107.6 115.8 124.9 137.6 153.0 171.1
-- Take-Home Dairy Ice 107.6 115.8 124.9 137.6 153.0 171.1
Cream
--- Bulk Dairy Ice Cream 107.1 115.2 124.2 136.9 152.2 170.2
--- Ice Cream Desserts 0.6 0.6 0.7 0.7 0.8 0.8
--- Multi-Pack Dairy - - - - - -
Ice Cream
-- Take-Home Water Ice - - - - - -
Cream
--- Bulk Water Ice Cream - - - - - -
--- Multi-Pack Water - - - - - -
Ice Cream
Ice Cream and Frozen 264.2 288.8 319.1 360.9 407.0 460.2
Desserts
Table 182 Sales of Ice Cream and Frozen Desserts by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Ice Cream 63,554.0 73,050.0 85,322.7 99,952.0 117,801.7 140,019.3
- Impulse Ice Cream 40,251.5 45,722.0 53,517.9 62,708.6 73,985.0 88,077.0
-- Single Portion Dairy 35,758.9 40,663.3 47,773.8 55,962.2 66,035.4 78,693.7
Ice Cream
-- Single Portion Water 4,492.6 5,058.6 5,744.1 6,746.5 7,949.6 9,383.3
Ice Cream
- Take-Home Ice Cream 23,302.5 27,328.0 31,804.8 37,243.3 43,816.7 51,942.3
-- Take-Home Dairy Ice 23,302.5 27,328.0 31,804.8 37,243.3 43,816.7 51,942.3

Cream
--- Bulk Dairy Ice Cream 23,047.8 27,035.0 31,471.1 36,852.6 43,356.4 51,398.3
Ice Cream
Cream
Ice Cream
Ice Cream and Frozen 63,554.0 73,050.0 85,322.7 99,952.0 117,801.7 140,019.3
Desserts
Table 183 Sales of Ice Cream and Frozen Desserts by Category: % Volume Growth
2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Frozen Desserts - - -
Ice Cream 13.1 11.7 74.2
- Frozen Yoghurt - - -
- Impulse Ice Cream 13.8 13.1 84.7
-- Single Portion Dairy Ice Cream 14.6 14.0 92.2
-- Single Portion Water Ice Cream 10.6 9.5 57.7
- Unpackaged Ice Cream - - -
- Take-Home Ice Cream 11.8 9.7 58.9
-- Take-Home Dairy Ice Cream 11.8 9.7 58.9
--- Bulk Dairy Ice Cream 11.8 9.7 59.0
--- Ice Cream Desserts 8.9 7.5 43.5
--- Multi-Pack Dairy Ice Cream - - -
-- Take-Home Water Ice Cream - - -
--- Bulk Water Ice Cream - - -
--- Multi-Pack Water Ice Cream - - -
Ice Cream and Frozen Desserts 13.1 11.7 74.2
Table 184 Sales of Ice Cream and Frozen Desserts by Category: % Value Growth 2013-
2018

2017/18 2013-18 CAGR 2013/18 Total
Ice Cream 18.9 17.1 120.3

Table 185 Sales of Ice Cream by Leading Flavours: Rankings 2013-2018
ranking
2013 2014 2015 2016 2017 2018
Vanilla 1 1 1 1 1 1
Chocolate 3 3 2 2 2 2
Strawberry 2 2 3 3 3 3
Butterscotch 4 5 4 4 4 4
Mango 5 4 5 5 5 5
Table 186 NBO Company Shares of Ice Cream and Frozen Desserts: % Value 2014-
2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Devyani Food Industries 5.5 5.5 5.5 5.6 5.7
Pvt Ltd
Vegetable Pvt Ltd
Havmor Foods Pvt Ltd 3.4 3.4 3.6 3.7 3.8
Dairy Classic Ice 1.1 1.4 1.8 2.2 2.5
Creams Pvt Ltd
Punjab State 0.7 0.7 0.7 0.7 0.7
Cooperative Milk
Ltd, The
Others 46.3 46.3 46.1 45.5 45.0
Total 100.0 100.0 100.0 100.0 100.0
Table 187 LBN Brand Shares of Ice Cream and Frozen Desserts: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Cream Bell (RJ Corp) Devyani Food Industries 5.5 5.5 5.6 5.7
Pvt Ltd
Arun Hatsun Agro Products Ltd 4.0 4.4 4.8 5.3
Development Board)
Vadilal Vadilal Industries Ltd 5.8 5.4 5.0 4.8
Havmor (Lotte Group) Havmor Foods Pvt Ltd - - - 3.8
Wall's (Unilever Hindustan Unilever Ltd 4.0 3.9 3.8 3.6
Group)
Cornetto (Unilever Hindustan Unilever Ltd 3.5 3.5 3.5 3.5
Group)
Dairy Day Dairy Classic Ice 1.4 1.8 2.2 2.5
Creams Pvt Ltd
Cooperative Milk
Ltd, The
Havmor Havmor Foods Pvt Ltd 3.4 3.6 3.7 -
Max (Unilever Group) Hindustan Unilever Ltd - - - -
Others Others 53.7 53.4 52.8 52.2
Total Total 100.0 100.0 100.0 100.0
Table 188 NBO Company Shares of Ice Cream: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Pvt Ltd
Vegetable Pvt Ltd
Creams Pvt Ltd
Punjab State 0.7 0.7 0.7 0.7 0.7
Cooperative Milk
Ltd, The
Others 46.3 46.3 46.1 45.5 45.0
Total 100.0 100.0 100.0 100.0 100.0
Table 189 LBN Brand Shares of Ice Cream: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Pvt Ltd
Development Board)
Group)
Group)
Creams Pvt Ltd
Cooperative Milk
Ltd, The
Others Others 53.7 53.4 52.8 52.2
Total Total 100.0 100.0 100.0 100.0
Table 190 NBO Company Shares of Impulse Ice Cream: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Pvt Ltd
Vegetable Pvt Ltd
Creams Pvt Ltd
Punjab State 0.6 0.6 0.6 0.6 0.6
Cooperative Milk
Ltd, The
Others 47.6 47.5 46.8 45.7 44.7
Total 100.0 100.0 100.0 100.0 100.0
Table 191 LBN Brand Shares of Impulse Ice Cream: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Pvt Ltd
Group)
Development Board)
Creams Pvt Ltd
Group)
Cooperative Milk
Ltd, The
Others Others 59.2 58.4 57.2 56.0
Total Total 100.0 100.0 100.0 100.0
Table 192 NBO Company Shares of Take-home Ice Cream: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Milk Marketing
Federation Ltd
Vegetable Pvt Ltd
Pvt Ltd
Creams Pvt Ltd
Punjab State 0.9 0.9 0.9 0.8 0.8
Cooperative Milk
Ltd, The
Others 44.2 44.3 44.8 45.1 45.4
Total 100.0 100.0 100.0 100.0 100.0
Table 193 LBN Brand Shares of Take-home Ice Cream: % Value 2015-2018
% retail value rsp


Milk Marketing
Federation Ltd
Group)
Development Board)
Pvt Ltd
Creams Pvt Ltd
Cooperative Milk
Ltd, The
Others Others 44.5 45.0 45.3 45.6
Total Total 100.0 100.0 100.0 100.0
Table 194 Distribution of Ice Cream and Frozen Desserts by Format: % Value 2013-
2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 11.5 11.9 12.2 12.5 12.8 13.1
Retailers
--- Hypermarkets 6.0 6.1 6.2 6.3 6.4 6.5
--- Supermarkets 4.3 4.6 4.7 4.9 5.1 5.4
Retailers
specialists
Grocers
--- Other Grocery 1.5 1.4 1.4 1.5 1.5 1.5
Retailers

Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 195 Distribution of Ice Cream by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 11.5 11.9 12.2 12.5 12.8 13.1
Retailers
--- Hypermarkets 6.0 6.1 6.2 6.3 6.4 6.5
--- Supermarkets 4.3 4.6 4.7 4.9 5.1 5.4
Retailers
specialists
Grocers
--- Other Grocery 1.5 1.4 1.4 1.5 1.5 1.5
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 196 Forecast Sales of Ice Cream and Frozen Desserts by Category: Volume
2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Ice Cream 460.2 517.7 579.6 645.9 716.5 791.3
- Impulse Ice Cream 289.1 327.5 369.0 413.4 460.6 510.1
-- Single Portion Dairy 235.2 268.2 304.0 342.5 383.6 427.1
Ice Cream
-- Single Portion Water 54.0 59.4 65.1 70.9 76.9 83.0
Ice Cream
- Take-Home Ice Cream 171.1 190.1 210.6 232.5 256.0 281.2
-- Take-Home Dairy Ice 171.1 190.1 210.6 232.5 256.0 281.2
Cream
--- Bulk Dairy Ice Cream 170.2 189.2 209.6 231.4 254.8 279.9
Ice Cream
Cream
Ice Cream
Ice Cream and Frozen 460.2 517.7 579.6 645.9 716.5 791.3
Desserts
trade sources
Table 197 Forecast Sales of Ice Cream and Frozen Desserts by Category: Value 2018-
2023
INR million
2018 2019 2020 2021 2022 2023
Ice Cream 140,019.3 157,780.1 176,633.1 196,431.1 217,004.2 238,133.0
- Impulse Ice Cream 88,077.0 99,385.2 111,390.3 123,994.3 137,083.5 150,511.7
-- Single Portion Dairy 78,693.7 88,878.0 99,693.5 111,050.5 122,844.3 134,941.0
Ice Cream
-- Single Portion Water 9,383.3 10,507.2 11,696.8 12,943.9 14,239.2 15,570.7
Ice Cream
- Take-Home Ice Cream 51,942.3 58,395.0 65,242.8 72,436.8 79,920.7 87,621.3
-- Take-Home Dairy Ice 51,942.3 58,395.0 65,242.8 72,436.8 79,920.7 87,621.3
Cream
--- Bulk Dairy Ice Cream 51,398.3 57,785.0 64,563.0 71,683.7 79,091.5 86,713.7
Ice Cream
Cream
Ice Cream
Ice Cream and Frozen 140,019.3 157,780.1 176,633.1 196,431.1 217,004.2 238,133.0
Desserts
trade sources
Table 198 Forecast Sales of Ice Cream and Frozen Desserts by Category: % Volume
Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Ice Cream 12.5 11.4 71.9
trade sources
Table 199 Forecast Sales of Ice Cream and Frozen Desserts by Category: % Value
Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Ice Cream 12.7 11.2 70.1
trade sources
SAVOURY SNACKS IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 Savoury snacks records retail value growth of 14% to reach INR335.6 billion in 2018
 Regional and local savoury snacks continue to drive growth
 Tortilla chips records the fastest retail value growth of 17% in 2018
 Average unit price increases by 6% in 2018
 Haldiram Foods International Ltd continues to lead with a 12% share
 Savoury snacks is expected to record a CAGR of 17% at constant 2018 prices over the
PROSPECTS
Regional Flavours To Be the Key Growth Engine for Savoury Snacks

The population in different regions of India are migrating towards urban business centres,
resulting in a diversified demography there. This migrant population retained their food habits
irrespective of their new destination, resulting in a considerable rise in demand for regional
favoured snacks in different parts of the country. For example, the influx of North and East
Indian population into South India created substantial demand for North and East Indian food
and food habits in the South.
Several regional manufacturers including Haldiram Foods International Ltd, Balaji Wafers Pvt
Ltd and Prataap Snacks Pvt Ltd launched new snacks products in local flavours in 2017-18
including new puffed snacks, Crax Curls cheese balls from DFM Food Ltd and Bingo No Rulz
from ITC Ltd in regional flavours, signifying the demand for regional flavoured snacks from the
regional population in South India. The slower growth rate of PepsiCo Inc’s western snacks
compared to the traditional snacks by regional manufacturers also signifies the shift in consumer
preferences towards packaged traditional snacks.
Gst Provides An Impetus for Snacks Manufacturers

The implementation of GST created considerable uncertainty, affecting the growth of savoury
snacks in 2017. However, savoury snacks stabilised and is expected to record strong growth in
2018 and beyond. GST simplified tax rates and improved their margins, enabling regional
manufacturers such as Haldiram Foods International and Balaji Wafers Pvt Ltd to increase their
production capacity and launch marketing campaigns in order to expand their presence in other
parts of the country.
The improved margins also led some savoury snacks manufacturers to pass on the benefits
to their customers in the form of increased snack volume in the package eg Prataap Snacks Pvt
Ltd.
Healthy Snacks Will Influence Product Development

The strong growth of popcorn and puffed snacks during the review period coupled with new
product launches signify the importance of healthy snacks for Indians. This is evident from the
fact that people are exercising regularly, are consuming healthy food and are reducing their
intake of carbonated drinks, sugar and salt. Snacks manufacturers, especially those offering
popcorn and puffed snacks, will witness value growth as these snacks made from whole grain
have very low calorie content.
With healthy living becoming a significant trend in the forecast period, snacks manufacturers
became aware of the potential for healthy snack alternatives. Companies such as PepsiCo
announced plans to launch new products under Kurkure brand with reduced salt content.
Consumers are also transitioning towards healthier snacks such as dried and processed fruits,
nuts, seeds and trail mixes, which are likely to support the growth of these products.
Haldiram Foods International Ltd To Continue Dominating Savoury

Snacks in Value Sales
Haldiram Foods International Ltd is the leading manufacturer of savoury snacks with s strong
retail value share in 2018. The company has a huge portfolio of savoury snacks and plans to
launch new products in 2018-19. Other players are significantly behind Haldiram as they have
limited product portfolios such as chips and bhujiyas. The company also has plans to increase
its production capacity with plans to become established in South India.
A strong physical presence with a wide distribution network to ensure on-time supply of
products from factories, coupled with stringent quality measures, ensuring zero tolerance and
high quality taste will help the company to maintain its status as the leading player in savoury
snacks.
PepsiCo India Holdings Will Continue Challenging Regional Snacks

Manufacturers
As regional manufacturers continue to dominate savoury snacks, PepsiCo continues to be a
potent challenger. Although the company faces challenges in its traditional portfolios, it
nevertheless increased its competitiveness to improve its position with its western snacks
portfolio. The company revamped its snacks portfolio and plans to continue with new product
launches, especially under the Kurkure brand.
In 2018, the company launched new variants of Kurkure with low salt and in multi-grain
variant. These launches signify the company’s long-term commitment to reduce sodium in 75%
of its food portfolio by 2025, continue with product launches in healthy snacks and double the
sales volume of Kurkure in the forecast period, making it a potent force in savoury snacks.
Growth of Regional Manufacturers

The rise of migrant populations moving towards urban business centres is a prime example of
rising aspirational levels among citizens. These aspirations led to improvements in lifestyle and
raised the demand for better products and services. The necessity to maintain such a lifestyle
resulted in a hectic schedule. People therefore depend on on-the-go types of food items and do
not spend time preparing snacks at home.
This created an opportunity for regional manufacturers to launch snacks in packaged form.
For example, staple Gujarati snacks such as khakra, phapra and dhokla, are available in
packaged form throughout the country since the Gujarati population migrated towards the
northern, southern and eastern parts of the country for professional reasons.
Regional manufacturers were successful in offering local flavoured products from other
regions apart from the place of origin, creating a significant challenge for the leading players
such as PepsiCo in snacks.
Since Indian consumers are price sensitive, some regional manufacturers also increased the
volume in their local flavoured products without changing the price point.
Summary 2 Other Savoury Snacks by Product Type:

Product type
Spicy Thick Sev - MTR Snackup - Orkla Group
Chow Mixture - Maiyas Snacks - Maiyas Beverages & Foods Pvt Ltd
Navratan Mixture - Crax Namkeen - DFM Foods Ltd
Mung and Chana Dal - Balaji Namkeen - Balaji Wafers Pvt Ltd
Namkeen - Yellow Diamond - Prataap Snacks Pvt Ltd
CATEGORY DATA
Table 200 Sales of Savoury Snacks by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Nuts, Seeds and Trail 55.3 58.7 62.8 66.8 70.9 75.1
Mixes
Salty Snacks 288.8 341.0 405.9 478.7 554.6 579.5
- Potato Chips 114.2 131.2 150.2 170.6 185.0 198.0
- Tortilla Chips 0.5 0.7 0.8 1.1 1.3 1.7
- Puffed Snacks 174.0 209.2 254.9 307.0 368.2 379.8
- Rice Snacks - - - - - -
- Vegetable, Pulse and - - - - - -
Bread Chips
Savoury Biscuits 175.1 185.4 198.4 212.1 225.8 239.9
Popcorn 4.0 4.4 5.0 5.7 6.4 6.7
Pretzels - - - - - -
Other Savoury Snacks 93.9 112.2 141.1 168.0 199.4 227.4
Savoury Snacks 617.1 701.7 813.2 931.4 1,057.1 1,128.5
Table 201 Sales of Savoury Snacks by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Nuts, Seeds and Trail 12,063.5 14,157.6 16,314.2 19,719.6 22,766.3 25,029.5
Mixes
Salty Snacks 76,886.4 97,136.1 119,035.1 147,456.3 170,587.8 193,624.5
- Potato Chips 37,619.7 47,127.2 57,727.2 71,671.6 83,483.1 97,363.9
- Tortilla Chips 291.0 407.1 531.5 661.8 820.5 999.3
- Puffed Snacks 38,975.6 49,601.8 60,776.4 75,122.8 86,284.2 95,261.3

Bread Chips
Savoury Biscuits 27,410.6 30,496.4 35,281.0 39,749.7 44,385.2 49,446.9
Popcorn 1,407.2 1,711.9 2,053.2 2,501.7 2,799.5 3,072.6
Other Savoury Snacks 22,563.1 29,090.9 38,207.5 47,707.3 54,925.8 64,394.7
Savoury Snacks 140,330.7 172,592.9 210,891.0 257,134.5 295,464.6 335,568.2
Table 202 Sales of Savoury Snacks by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Nuts, Seeds and Trail Mixes 5.9 6.3 35.6

Salty Snacks 4.5 14.9 100.7
- Potato Chips 7.0 11.6 73.3
- Tortilla Chips 23.4 25.1 206.5
- Puffed Snacks 3.2 16.9 118.3
- Rice Snacks - - -
- Vegetable, Pulse and Bread Chips - - -
Savoury Biscuits 6.2 6.5 37.0
Popcorn 3.6 10.7 66.0
Pretzels - - -
Other Savoury Snacks 14.1 19.4 142.2
Savoury Snacks 6.8 12.8 82.9
Table 203 Sales of Savoury Snacks by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total

Salty Snacks 13.5 20.3 151.8
- Potato Chips 16.6 20.9 158.8
- Puffed Snacks 10.4 19.6 144.4
- Rice Snacks - - -
Popcorn 9.8 16.9 118.3
Pretzels - - -
Table 204 NBO Company Shares of Savoury Snacks: % Value 2014-2018
% retail value rsp
Company 2014 2015 2016 2017 2018
Haldiram Foods 13.9 12.8 11.8 11.7 11.7

International Ltd
Pvt Ltd
ITC Ltd 6.7 6.9 7.0 6.6 6.8
Prataap Snacks Pvt Ltd 4.0 4.3 4.6 5.2 5.5
Bikaji Foods 2.6 2.5 2.4 2.4 2.5
International Ltd
Bikanervala Foods Pvt Ltd 2.2 2.1 2.0 2.1 2.2
DFM Foods Ltd 2.2 2.3 1.9 1.9 1.9
Saj Industries Pvt Ltd 1.7 1.5 1.5 1.5 1.6
Anmol Biscuits (P) Ltd 1.6 1.5 1.4 1.3 1.3
Surya Food & Agro Pvt Ltd 1.2 1.0 0.9 0.9 0.8
SM Foods Ltd 0.6 0.6 0.6 0.6 0.6
Laxmi Snacks Pvt Ltd 0.3 0.3 0.3 0.4 0.4
GreenDot Health Foods Ltd 0.2 0.2 0.2 0.3 0.3
Maiyas Beverages & 0.2 0.2 0.2 0.1 0.1
Foods Pvt Ltd
MTR Foods Pvt Ltd 0.0 0.0 0.1 0.1 0.1
Frito-Lay India - - - - -
Private Label 1.2 1.2 1.2 1.3 1.2
Others 28.6 32.2 36.8 37.0 36.6
Total 100.0 100.0 100.0 100.0 100.0
Table 205 LBN Brand Shares of Savoury Snacks: % Value 2015-2018
% retail value rsp

Haldiram's Haldiram Foods 11.0 10.1 10.0 9.9

International Ltd
Balaji Balaji Wafers Pvt Ltd 7.3 6.8 7.8 8.1
Bingo! (ITC Group) ITC Ltd 6.0 6.1 5.8 6.0
Yellow Diamond Prataap Snacks Pvt Ltd 4.3 4.6 5.2 5.5
Lay's (PepsiCo Inc) PepsiCo India Holdings 6.0 5.0 4.4 4.0
Pvt Ltd
Kurkure (PepsiCo Inc) PepsiCo India Holdings 4.0 3.6 3.1 2.8
Pvt Ltd
Bikaji (Bikaji Bikaji Foods 2.5 2.4 2.4 2.5
Foods Pvt Ltd) International Ltd
Bikano Bikanervala Foods Pvt Ltd 2.1 2.0 2.1 2.2
Crax DFM Foods Ltd 2.3 1.9 1.9 1.9
Taka Tak Haldiram Foods 1.8 1.7 1.7 1.7
International Ltd
Bisk Farm Saj Industries Pvt Ltd 1.5 1.5 1.5 1.6
Anmol Anmol Biscuits (P) Ltd 1.5 1.4 1.3 1.3
Act II (ConAgra Agro Tech Foods Ltd - 0.6 0.6 0.6
Brands Inc)
Real Snacks Laxmi Snacks Pvt Ltd 0.3 0.3 0.4 0.4
Peppy SM Foods Ltd 0.3 0.3 0.4 0.4
Priyagold Surya Food & Agro Pvt Ltd 0.3 0.3 0.3 0.3
Lehar (PepsiCo Inc) PepsiCo India Holdings 0.5 0.4 0.3 0.3
Pvt Ltd
Piknik SM Foods Ltd 0.3 0.3 0.3 0.3
Cornitos GreenDot Health Foods Ltd 0.2 0.2 0.3 0.3
Uncle Chipps PepsiCo India Holdings 0.4 0.3 0.3 0.2
(PepsiCo Inc) Pvt Ltd
Maiyas Snacks Maiyas Beverages & 0.2 0.2 0.1 0.1
Foods Pvt Ltd
MTR Snackup (Orkla MTR Foods Pvt Ltd 0.0 0.1 0.1 0.1
Group)
Cheetos (PepsiCo Inc) PepsiCo India Holdings 0.1 0.1 0.1 0.1
Pvt Ltd
Act II (ConAgra Agro Tech Foods Ltd 0.7 - - -
Foods Inc)
Aliva (PepsiCo Inc) PepsiCo India Holdings 0.2 - - -
Pvt Ltd
Aliva (PepsiCo Inc) Frito-Lay India - - - -
Cheetos (PepsiCo Inc) Frito-Lay India - - - -
Private label Private Label 1.2 1.2 1.3 1.2
Others Others 33.4 37.9 38.0 37.7
Total Total 100.0 100.0 100.0 100.0
Table 206 Distribution of Savoury Snacks by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 15.5 15.6 15.8 15.9 16.2 16.3
Retailers
--- Hypermarkets 7.4 7.4 7.5 7.5 7.5 7.5
--- Supermarkets 5.1 5.1 5.2 5.2 5.2 5.3
Retailers
specialists
Grocers
--- Other Grocery 13.2 13.4 13.4 13.5 13.7 13.5
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 207 Forecast Sales of Savoury Snacks by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Nuts, Seeds and Trail 75.1 85.6 94.0 104.1 115.9 131.5
Mixes
Salty Snacks 579.5 664.3 762.6 883.3 1,032.0 1,220.7
- Potato Chips 198.0 230.8 267.8 313.4 371.4 447.7
- Tortilla Chips 1.7 2.0 2.5 3.0 3.7 4.4
- Puffed Snacks 379.8 431.4 492.3 566.9 657.0 768.7
Bread Chips
Savoury Biscuits 239.9 256.9 279.0 308.2 340.1 375.2
Popcorn 6.7 7.2 7.9 8.7 9.7 10.8
Other Savoury Snacks 227.4 270.5 325.1 397.6 491.5 621.2
Savoury Snacks 1,128.5 1,284.4 1,468.5 1,701.9 1,989.2 2,359.4
trade sources
Table 208 Forecast Sales of Savoury Snacks by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Nuts, Seeds and Trail 25,029.5 27,532.5 30,423.4 33,770.0 37,484.7 41,795.4
Mixes
Salty Snacks 193,624.5 225,378.3 262,150.2 307,701.7 363,714.6 433,181.0
- Potato Chips 97,363.9 115,626.6 137,017.6 164,421.1 198,949.5 243,713.1
- Tortilla Chips 999.3 1,153.8 1,331.0 1,527.8 1,749.4 1,999.8
- Puffed Snacks 95,261.3 108,597.9 123,801.6 141,752.8 163,015.7 187,468.1
Bread Chips
Savoury Biscuits 49,446.9 54,391.6 59,830.7 66,711.2 74,049.5 81,824.7
Popcorn 3,072.6 3,379.8 3,717.8 4,126.8 4,622.0 5,153.5
Other Savoury Snacks 64,394.7 76,886.7 91,495.2 110,709.2 134,511.7 165,449.4
Savoury Snacks 335,568.2 387,568.9 447,617.3 523,018.9 614,382.5 727,404.0
trade sources
Table 209 Forecast Sales of Savoury Snacks by Category: % Volume Growth 2018-
2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

Salty Snacks 14.6 16.1 110.7
- Potato Chips 16.6 17.7 126.1
- Puffed Snacks 13.6 15.1 102.4
- Rice Snacks - - -
Popcorn 8.4 10.2 62.7
Pretzels - - -
trade sources
Table 210 Forecast Sales of Savoury Snacks by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

Salty Snacks 16.4 17.5 123.7
- Potato Chips 18.8 20.1 150.3
- Puffed Snacks 14.0 14.5 96.8
- Rice Snacks - - -
Popcorn 10.0 10.9 67.7
Pretzels - - -
trade sources
SWEET BISCUITS, SNACK BARS AND

FRUIT SNACKS IN INDIA - CATEGORY
ANALYSIS
HEADLINES
 Sweet biscuits, snack bars and fruit snacks records retail value growth of 10% to reach
INR314.2 billion in 2018
 Retail unit prices rise due to revision of tax rates with the introduction of Goods and Services
Tax (GST) in 2018
 Snack bars achieves highest retail value growth of 25% in 2018
 Average retail unit price of sweet biscuits, snack bars and fruit snacks grows by 7% in 2018
 Healthy living trend drives snack manufacturers to focus on healthy snacks and Britannia
Industries Ltd leads with a 25% retail value share in 2018
 Sweet biscuits, snack bars and fruit snacks is expected to record a CAGR of 4% at constant
2018 prices to reach INR377.6 billion in 2023
PROSPECTS
Retail Unit Prices Rise Due To Revision of Tax Rates With the
Introduction of Gst
Goods and Services Tax (GST) the new tax system introduced by the Indian government in
2017 was revised in January 2018, resulting in all variants of biscuits falling under the higher
18% tax bracket. This move triggered a spike in retail unit prices of biscuits along with snack
bars and fruit snacks. Many companies including the leading biscuits manufacturers Parle
Products Pvt Ltd and Britannia Industries Ltd increased their prices of biscuits in 2018. The rise
in tax rates brought plain biscuits, the most consumed biscuit variant, under the 18% bracket,
which affected the volume sales of biscuits. However, other variants of sweet biscuits enjoy
good growth in retail volume and value because the new tax on these products was reduced by
3% to 5% from earlier tax rates, which made the products more affordable.
The volume growth of all products except plain biscuits is expected to increase during the
forecast period, while plain biscuits will reach good retail volume sales by the end of the forecast
period.
Super Food Concept Enters Snacks, Creates Demand for Healthy

Snacks
Nutrient rich food, colloquially called super food, concept was prevalent in India in the review
period with changing consumer lifestyles and eating habits. These food products, which were
predominant in fresh food, packaged meals and staples, are taking over snacks with the
concept of healthy snacks. Some of the prominent healthy snacks products are fortified sweet
biscuits, snack bars and fruit snacks. These products are not only tasty and can be consumed
on the go, they also replace meals for many educated working individual in urban regions.
Healthy snacks such as snack bars are quick fixes for breakfast, while fortified biscuits are
consumed with evening refreshments and energy replenishments such as dried fruit snacks
between meals. These healthy snacking habits not only reduce calorie intake but also combat
hunger pangs.
Young working population strongly embraced the healthy snacking habit and is expected to
create more demand during the forecast period as more consumers embrace the super food
culture.
Stronger Growth Forecast Due To Premiumisation Within Sweet Biscuits

The next wave of snacks is evident as consumers are looking for premium products that
include features such as high quality ingredients, exotic flavours, new products and innovative
packaging solutions amongst others. Like chocolate confectionery, sweet biscuits became the
pioneer in premium snack offerings in India and manufacturers began to offer premium sweet
biscuits. Following the premium sweet biscuits trend, snack bars and fruit snacks segment also
saw the entrance of a premium range of exotic dried fruits while high quality herbal, organic and
nutrient-rich snack bars is becoming popular. The demand for these products is created by
consumers who are looking for new experiences and are ready to pay premium prices for them.
International brands are sold via internet retailing as consumers explore new products that are
available globally. The premium trend will continue and influence the entrance of other snack
varieties during the forecast period and drive the growth of overall premium snack products.
Premium Offerings Initiated by Sweet Biscuit Manufacturers

Parle Products Pvt Ltd under its new division Parle Platina Collection heavily advertised its
premium biscuits especially in its cookies and filled biscuits range, similarly Britannia Industries
Ltd entered with the extension of its premium range of cookies under the brand name Pure
Magic Deuce. Parle Products Pvt Ltd set an achievable target within premium biscuits during the
forecast period. Middle class consumers are willing to pay extra for the right value products and
are consuming more filled biscuits and cookies, slowly shifting from plain biscuits.
Even lower income groups are shifting to filled biscuits and cookies as many companies are
offering such biscuits at affordable prices compared to some of the premium brands. Strong
demand is expected from the lower middle class population for premium biscuits as there are
equal opportunities for lower income groups living in India to earn more in the forecast period.
Healthy Living Trend Drives Snack Manufacturers To Focus on Healthy

Snacks
Naturell India Pvt Ltd, which is the country’s biggest manufacturer of snack bars, is focusing
on healthy snack options for its health conscious consumers. The company’s Rite Bite brand
encompasses a variety of snack bars for various consumer needs. Meal replacement snack
bars, protein replenishment and snack bars made from herbal ingredients are some of the
products available under its portfolio. Similarly, KBB Nuts Pvt Ltd under the brand name Tulsi
has an assortment of dried nuts that are available in various pack sizes that can be consumed
on the go. These nuts are usually consumed between meals to prevent hunger and offer the
correct proteins and nutrients for consumers.
Many regional snacks manufacturers and private label are also following the healthy living
trend by offering various fruit snacks, which is expected to create better growth opportunities
during the forecast period
Future Consumer Enterprises Ltd Rapidly Expanding in Snacks

Future Group’s subsidiary Future Consumer Enterprises Ltd aggressively promoted its snack
products including sweet biscuits and fruit snacks amongst other packaged food in India. The
company is heavily stocking its products in its own supermarkets and hypermarkets to attract
more consumers. Selling under the brand name Tasty Treat the company is offering strong
competition to other snack manufacturers with its wide range of products at different price
points. Future Consumer Enterprises Ltd also promotes its brands through various media from
attractive advertisements to reach a wider audience, resulting in good growth in 2018.
CATEGORY DATA
Table 211 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: Volume
2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Fruit Snacks 47.8 52.8 58.7 66.1 73.3 80.3

- Dried Fruit 23.5 25.9 28.7 32.2 36.4 41.1
- Processed Fruit Snacks 24.4 26.9 30.0 33.8 36.9 39.2
Snack Bars 0.2 0.3 0.3 0.3 0.4 0.4
- Cereal Bars 0.2 0.3 0.3 0.3 0.3 0.4
- Energy Bars 0.0 0.0 0.0 0.0 0.0 0.0
- Fruit and Nut Bars - - - - - -
- Other Snack Bars - - - - - -
Sweet Biscuits 1,496.4 1,582.5 1,683.2 1,757.8 1,790.0 1,829.2
- Chocolate Coated - - - - - -
Biscuits
- Cookies 360.5 389.4 432.4 462.2 478.4 496.0
- Filled Biscuits 197.5 228.0 257.5 272.5 283.9 302.2
- Plain Biscuits 930.7 957.3 984.9 1,014.6 1,018.8 1,021.7
- Wafers 7.6 7.8 8.4 8.6 9.0 9.3
Sweet Biscuits, Snack 1,544.5 1,635.6 1,742.2 1,824.2 1,863.7 1,909.9
Bars and Fruit Snacks
Table 212 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: Value
2013-2018
INR million
2013 2014 2015 2016 2017 2018
Fruit Snacks 18,698.6 22,787.6 27,817.1 34,058.4 41,411.3 50,214.2

- Dried Fruit 13,049.9 16,098.4 19,885.6 24,594.2 30,496.8 37,938.0
- Processed Fruit Snacks 5,648.7 6,689.2 7,931.5 9,464.2 10,914.5 12,276.1
Snack Bars 177.6 215.2 269.8 342.5 431.4 540.8
- Cereal Bars 154.9 188.1 235.3 298.0 373.9 465.5
- Energy Bars 22.7 27.1 34.5 44.5 57.5 75.3
Sweet Biscuits 174,168.0 189,849.0 210,010.0 226,468.1 243,319.7 263,451.8
Biscuits
- Cookies 56,143.0 63,379.0 75,347.0 85,142.1 95,359.2 107,279.1
- Filled Biscuits 39,527.0 42,200.0 43,548.0 45,584.0 48,547.0 52,819.1

- Plain Biscuits 75,837.0 81,449.0 87,998.0 92,433.0 95,819.5 99,460.6
- Wafers 2,661.0 2,821.0 3,117.0 3,309.0 3,594.0 3,893.0
Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Fruit Snacks 9.5 10.9 67.9

- Dried Fruit 12.9 11.9 75.3
- Processed Fruit Snacks 6.1 10.0 60.7
Snack Bars 12.4 11.4 71.4
- Cereal Bars 12.7 11.5 72.4
- Energy Bars 9.1 10.0 61.4
- Fruit and Nut Bars - - -
- Other Snack Bars - - -
Sweet Biscuits 2.2 4.1 22.2
- Chocolate Coated Biscuits - - -
- Cookies 3.7 6.6 37.6
- Filled Biscuits 6.5 8.9 53.0
- Plain Biscuits 0.3 1.9 9.8
- Wafers 4.2 4.1 22.5
Sweet Biscuits, Snack Bars and Fruit 2.5 4.3 23.7
Snacks
Table 214 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: % Value
Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Fruit Snacks 21.3 21.8 168.5

- Dried Fruit 24.4 23.8 190.7
Snack Bars 25.4 24.9 204.5
- Cereal Bars 24.5 24.6 200.6
- Energy Bars 31.0 27.1 231.6
- Cookies 12.5 13.8 91.1
- Wafers 8.3 7.9 46.3
Snacks
Table 215 NBO Company Shares of Sweet Biscuits, Snack Bars and Fruit Snacks: %
Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

ITC Ltd 11.0 13.4 13.4 13.5 13.5
Unibic Foods India Pvt 0.6 0.9 1.1 1.3 1.5
Ltd
Pvt Ltd
Lion Dates Impex Pvt Ltd 0.4 0.4 0.4 0.4 0.4
Ravi Foods Pvt Ltd 0.6 0.5 0.4 0.3 0.3
GlaxoSmithKline 0.3 0.3 0.3 0.2 0.2
Consumer Healthcare Ltd
Grove Ltd 0.1 0.1 0.2 0.2 0.2
Tierra Food India Pvt Ltd 0.1 0.1 0.1 0.1 0.2
A1 Chips & Exports 0.1 0.1 0.1 0.1 0.2
India Pvt Ltd
Naturell India Pvt Ltd 0.1 0.1 0.1 0.1 0.1
Future Consumer - - 0.1 0.1 0.1
Enterprises Ltd
Future Retail Ltd 0.1 0.1 - - -
Future Value Retail Ltd - - - - -
Others 23.6 22.9 23.9 23.9 23.8
Total 100.0 100.0 100.0 100.0 100.0
Table 216 LBN Brand Shares of Sweet Biscuits, Snack Bars and Fruit Snacks: % Value
2015-2018
% retail value rsp


Unibic (Modern Unibic Foods India Pvt 0.9 1.1 1.3 1.5
Baking Co) Ltd
Oreo (Mondelez Mondelez India Foods 0.9 0.8 0.8 0.7
Lion Lion Dates Impex Pvt Ltd 0.4 0.4 0.4 0.4
Duke Wafers Ravi Foods Pvt Ltd 0.5 0.4 0.3 0.3
Monte Pacific Ltd)
Horlicks GlaxoSmithKline 0.3 0.3 0.2 0.2

(GlaxoSmithKline Plc) Consumer Healthcare Ltd
Groves Grove Ltd 0.1 0.2 0.2 0.2
Banano Tierra Food India Pvt Ltd 0.1 0.1 0.1 0.2
A1 Chips A1 Chips & Exports 0.1 0.1 0.1 0.2
India Pvt Ltd
RiteBite Breakfast Naturell India Pvt Ltd 0.1 0.1 0.1 0.1
Bars
Tasty Treat (Future Future Consumer - 0.1 0.1 0.1
Group) Enterprises Ltd
Tasty Treat Future Retail Ltd 0.1 - - -
(Private Label)
Bytes (Cadbury Plc) Cadbury India Ltd - - - -
Bytes (Kraft Foods Cadbury India Ltd - - - -
Inc)
Bytes (Mondelez Cadbury India Ltd - - - -
International Inc)
Oreo (Kraft Foods Cadbury India Ltd - - - -
Inc)
Oreo (Mondelez Cadbury India Ltd - - - -
International Inc)
Tasty Treat Future Value Retail Ltd - - - -
(Private Label)
Unibic (Unibic Unibic Foods India Pvt - - - -
Australia Pty Ltd) Ltd
Others Others 24.9 26.0 25.9 25.8
Total Total 100.0 100.0 100.0 100.0
Table 217 NBO Company Shares of Sweet Biscuits: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

ITC Ltd 12.4 15.2 15.4 15.8 16.1
Unibic Foods India Pvt 0.7 1.0 1.2 1.5 1.8
Ltd
Pvt Ltd
Ravi Foods Pvt Ltd 0.7 0.6 0.5 0.4 0.4
Future Consumer - - 0.1 0.1 0.1
Enterprises Ltd
Yummy Food Specialities 0.0 0.1 0.1 0.1 0.1
Pvt Ltd
Future Retail Ltd 0.1 0.1 - - -
Future Value Retail Ltd - - - - -
Others 15.4 13.6 13.6 12.2 10.6
Total 100.0 100.0 100.0 100.0 100.0
Table 218 LBN Brand Shares of Sweet Biscuits: % Value 2015-2018
% retail value rsp


Unibic (Modern Unibic Foods India Pvt 1.0 1.2 1.5 1.8
Baking Co) Ltd
Oreo (Mondelez Mondelez India Foods 1.0 0.9 0.9 0.9
Duke Wafers Ravi Foods Pvt Ltd 0.6 0.5 0.4 0.4
Tasty Treat (Future Future Consumer - 0.1 0.1 0.1
Group) Enterprises Ltd
Yummy Wafer Yummy Food Specialities 0.1 0.1 0.1 0.1
Pvt Ltd
Tasty Treat Future Retail Ltd 0.1 - - -
(Private Label)
Bytes (Cadbury Plc) Cadbury India Ltd - - - -
Bytes (Kraft Foods Cadbury India Ltd - - - -
Inc)
Bytes (Mondelez Cadbury India Ltd - - - -
International Inc)
Oreo (Kraft Foods Cadbury India Ltd - - - -
Inc)
Oreo (Mondelez Cadbury India Ltd - - - -
International Inc)
Tasty Treat Future Value Retail Ltd - - - -
(Private Label)
Unibic (Unibic Unibic Foods India Pvt - - - -
Australia Pty Ltd) Ltd
Others Others 16.0 15.9 14.5 13.0
Total Total 100.0 100.0 100.0 100.0
Table 219 NBO Company Shares of Snack Bars: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Naturell India Pvt Ltd 64.4 64.5 64.9 64.6 64.5

Ltd
GlaxoSmithKline - - - - -
Others 6.1 5.7 5.2 5.3 5.6
Total 100.0 100.0 100.0 100.0 100.0
Table 220 LBN Brand Shares of Snack Bars: % Value 2015-2018
% retail value rsp

RiteBite Breakfast Naturell India Pvt Ltd 64.5 64.9 64.6 64.5
Bars
Nature Valley General Mills India Pvt 29.8 29.9 30.0 29.9
(General Mills Inc) Ltd
Horlicks GlaxoSmithKline - - - -
Others Others 5.7 5.2 5.3 5.6
Total Total 100.0 100.0 100.0 100.0
Table 221 NBO Company Shares of Fruit Snacks: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Lion Dates Impex Pvt Ltd 3.9 3.4 3.0 2.7 2.5
Grove Ltd 1.2 1.2 1.2 1.2 1.1
Tierra Food India Pvt Ltd 0.8 0.9 1.0 1.0 1.0
A1 Chips & Exports 0.6 0.7 0.8 0.9 1.0
India Pvt Ltd
Karthika Chips Pvt Ltd 0.3 0.3 0.3 0.3 0.3
Kumari Chips Pvt Ltd 0.1 0.1 0.2 0.2 0.2
Others 91.5 91.6 91.8 92.0 92.2
Total 100.0 100.0 100.0 100.0 100.0
Table 222 LBN Brand Shares of Fruit Snacks: % Value 2015-2018
% retail value rsp

Lion Lion Dates Impex Pvt Ltd 3.4 3.0 2.7 2.5
Monte Pacific Ltd)
Groves Grove Ltd 1.2 1.2 1.2 1.1
Banano Tierra Food India Pvt Ltd 0.9 1.0 1.0 1.0
A1 Chips A1 Chips & Exports 0.7 0.8 0.9 1.0
India Pvt Ltd
Karthika Chips Karthika Chips Pvt Ltd 0.3 0.3 0.3 0.3
Kumari Chips Kumari Chips Pvt Ltd 0.1 0.2 0.2 0.2
Others Others 91.6 91.8 92.0 92.2
Total Total 100.0 100.0 100.0 100.0
Table 223 Distribution of Sweet Biscuits, Snack Bars and Fruit Snacks by Format: %
Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 7.7 8.1 8.4 8.9 9.4 9.8
Retailers
--- Hypermarkets 4.2 4.3 4.5 4.6 4.8 4.9
--- Supermarkets 3.0 3.3 3.5 3.7 4.0 4.3
Retailers
specialists
Grocers
--- Other Grocery 7.8 7.7 7.6 7.5 7.4 7.3
Retailers
-- Other Foods Non- 0.0 - - 0.0 0.0 0.0
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 224 Distribution of Sweet Biscuits by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 6.7 6.9 7.2 7.5 7.8 8.1
Retailers
--- Hypermarkets 3.8 3.9 3.9 4.0 4.1 4.1
--- Supermarkets 2.7 2.9 3.1 3.3 3.6 3.9
Retailers
specialists
Grocers
--- Other Grocery 8.1 8.1 8.0 8.0 7.9 7.8
Retailers
Grocery Specialists
Non-Store Retailing - 0.0 0.0 0.0 0.0 0.0
- Vending - - - - - -
- Internet Retailing - 0.0 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 225 Distribution of Snack Bars by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 64.0 64.1 64.1 64.1 64.2 64.2
Retailers
--- Hypermarkets 37.5 37.6 37.6 37.7 37.8 37.8
--- Supermarkets 26.5 26.5 26.4 26.4 26.4 26.4
Retailers
specialists
Grocers
Retailers
Grocery Specialists
Non-Store Retailing - 0.0 0.0 0.0 0.0 0.0
- Vending - - - - - -
- Internet Retailing - 0.0 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 226 Distribution of Fruit Snacks by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 17.0 17.2 17.5 17.8 18.0 18.3
Retailers
--- Hypermarkets 7.7 7.9 8.1 8.4 8.6 8.8
--- Supermarkets 6.0 6.0 6.1 6.1 6.2 6.2
Retailers
specialists
Grocers
--- Other Grocery 4.8 4.8 4.8 4.8 4.7 4.7
Retailers
- Non-Grocery Specialists 0.0 - - 0.0 0.0 0.0
-- Other Foods Non- 0.0 - - 0.0 0.0 0.0
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 227 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category:
Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Fruit Snacks 80.3 88.2 96.9 106.5 117.1 129.0

- Dried Fruit 41.1 46.7 53.0 60.3 68.6 78.0
- Processed Fruit Snacks 39.2 41.5 43.8 46.2 48.5 50.9
Snack Bars 0.4 0.5 0.5 0.6 0.7 0.7
- Cereal Bars 0.4 0.4 0.5 0.5 0.6 0.7
- Energy Bars 0.0 0.0 0.0 0.0 0.0 0.1
Sweet Biscuits 1,829.2 1,865.6 1,899.7 1,932.5 1,961.5 1,987.4
Biscuits
- Cookies 496.0 512.1 526.4 539.2 549.3 557.6
- Filled Biscuits 302.2 318.6 333.9 348.8 361.9 373.1
- Plain Biscuits 1,021.7 1,025.2 1,029.4 1,034.3 1,039.8 1,046.0
- Wafers 9.3 9.7 10.0 10.3 10.5 10.7
trade sources
Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Fruit Snacks 50,214.2 57,931.0 66,364.6 75,474.6 85,199.5 95,445.0

- Dried Fruit 37,938.0 44,871.9 52,596.7 61,090.6 70,308.3 80,170.2
- Processed Fruit Snacks 12,276.1 13,059.1 13,767.9 14,384.0 14,891.1 15,274.8
Snack Bars 540.8 639.5 748.4 866.7 993.2 1,126.0
- Cereal Bars 465.5 547.7 638.1 736.1 840.8 950.7
- Energy Bars 75.3 91.8 110.3 130.6 152.4 175.3
Sweet Biscuits 263,451.8 270,507.5 275,957.4 279,615.9 281,356.3 281,076.2
Biscuits
- Cookies 107,279.1 114,141.1 120,352.9 125,749.4 130,189.3 133,543.3
- Filled Biscuits 52,819.1 54,302.5 55,278.4 55,710.5 55,583.0 54,893.4
- Plain Biscuits 99,460.6 98,078.0 96,284.2 94,096.8 91,547.1 88,664.3
- Wafers 3,893.0 3,985.8 4,042.0 4,059.2 4,036.9 3,975.3
trade sources
% Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

- Dried Fruit 13.5 13.7 89.8
Snack Bars 12.2 12.0 76.6
- Cereal Bars 12.6 12.5 79.9
- Energy Bars 7.7 7.2 41.4
- Cookies 3.2 2.4 12.4
- Wafers 3.7 2.9 15.1
Snacks
trade sources
% Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

- Dried Fruit 18.3 16.1 111.3
Snack Bars 18.2 15.8 108.2
- Cereal Bars 17.7 15.4 104.2
- Energy Bars 21.9 18.4 132.7
- Cookies 6.4 4.5 24.5
- Plain Biscuits -1.4 -2.3 -10.9
- Wafers 2.4 0.4 2.1
Snacks
trade sources
BAKED GOODS IN INDIA - CATEGORY

ANALYSIS
HEADLINES
 Baked goods retail current value sales grow by 11% in 2018 to reach INR162.4 billion
 Prices are revised downwards due to the introduction of the new Goods and Services Tax
(GST)
 Packaged flat bread leads growth in 2018, with retail current value sales rising by 33%
 Average current unit prices increase by 7% in 2018
 Artisanal players continue to lead baked goods, posting a retail value share of 47%
 Baked goods is expected to post a retail value CAGR of 3% at constant 2018 prices over the
forecast period, with sales reaching INR191.7 billion in 2023
PROSPECTS
Baked Goods Prices Revised Downwards Due To New Gst

Leavened bread, both packaged and unpackaged, was exempt from the new goods and sales
tax (GST) introduced by the Indian government, thus minimising any price increases in the area.
Flat bread, on the other hand, falls within the 5% tax bracket, which is lower than the earlier tax
levied by different states. However, cakes and pastries became more expensive during 2018
due to the increase in tax on such products to 18%. Dessert mixes did not see much variation in
tax, with the new 5% rate being in line with the earlier 4-7% levied on dessert mixes in different
states.
Despite the revision of tax rates for baked goods, unit prices increased during 2018. Rising
ingredient, manufacturing, packaging and distribution costs, as well as intermediary mark-ups
and macro-economic factors increased the price of baked goods. However, this did not affect
demand for baked goods, with volume sales continuing to rise.
Packaged Flat Bread Sales Rise Due To Convenience and Affordability

Chapattis, naans, roti, paratha, kulcha and many other different packaged flat breads became
an instant hit after being launched in India in 2015. The introduction of new varieties, easy
availability through all retail channels, affordable prices, as well as the availability of single and
multi-serve pack sizes, have all boosted sales of flat breads. Going the extra mile, some
companies like ID Fresh Foods (India) and other local manufacturers such as Asal Foods have
developed a subscription-based model to cater to loyal consumers by using retail channels as
regular pick-up points for flat breads. This ensures that there is constant demand for the
manufacturer and, in turn, a constant supply to consumers. Quality and hygiene of flat breads
has created high brand trust, further paving way for large orders. Loyal consumers place large
orders for flat breads in advance for occasions like family functions and celebrations.
Since most of these packaged flat breads have a short shelf life of around a week and there is
constant demand, there are opportunities for many new manufacturers to enter the area.
Companies like Signature International Foods, which specialise in supplying flat bread to
consumer foodservice players, are looking to enter retail and will offer freshly baked packaged
flat breads to consumers during the forecast period.
More Product Options for Consumers in Dessert Mixes Promote Sales

Dessert mixes has evolved from conventional traditional Indian dessert mixes like gulab
jamoon and kheer to a more global dessert mixes recipe. Cakes, pastries, ice creams, biscuits
and many other dessert mixes have become popular in India. Inspired by different baked goods
available in consumer foodservice, but wary of higher unit prices, consumers are experimenting
with dessert mixes such as cake mixes to prepare such products at home. Manufacturers have
made it much easier for consumers to bake at home with their simple formulas, shorter baking
times, easy preparation methods and, most importantly, baking with the help of simple Indian
household utensils such as pressure cookers. Furthermore, single-serve pack sizes have
become quite popular as they are preferred as trial packs for first time buyers and experimental
indulgence.
Dessert mixes are being used to make different desserts simply by tweaking the baking
process or changing ingredients mixed with dessert mixes. For example, saffron badam, a
popular dessert mix from MTR Foods, is used to prepare flavoured milk drinks served hot or
cold and to also prepare plain kheer with condensed milk. Many such dessert mixes that are
used to make more than one dessert are expected to be launched by companies like MTR
Foods and Weikfield Products Co (Indian) during the forecast period.
Artisanal Companies Still Hold Maximum Sales Share in Baked Goods

Baked goods in India is still highly fragmented, with many artisanal players catering to
demand across the entire country via unpackaged formats. Artisanal players can be classified
into two groups. The first group comprises a small number of experienced players that have
been present for many decades across different states in India. These players specialise in both
regional and global baked goods, which have a loyal consumer base, are sold in multiple stores
and have a centralised manufacturing unit. Such artisanal players continue to perform well,
despite the emergence of new players, as performance is unaffected due to constant demand
for baked goods.
The second group of artisanal players comprises the large number of standalone stores that
have emerged in the last few years, as well as new players. Such operators usually have limited
product availability and manufacture other snacks, along with baked goods. Since there are
many such artisanal players, they compete strongly with one another and have created a very
competitive environment. However, both types of artisanal players performed well during 2018,
as highlighted by the rise in volume sales within baked goods, with this trend expected to
continue over the coming years. These diversified artisanal baked goods manufacturers will
continue to dominate baked goods during the forecast period.
International and Traditional Product Launches Boost Sales

Despite the strong sales share of artisanal players, there has been a slow shift towards
packaged versions of baked goods in India. The shift from bigger packs of baked goods to
single-serve formats and family packs continues in India. Such pack sizes offer the convenience
of on-the-go consumption and support portion control simultaneously, providing indulgence in
baked goods. Realizing demand for such products, companies like Monginis Foods, Britannia
Industries, General Mills India and many others have launched varieties of baked goods in
packaged formats.
Shift Towards Packaged Food Continues

Croissants, filled muffins, cookie cakes, sweet puffs and many other baked goods that were
previously only sold fresh and unpackaged are now available in packaged formats. Traditional
baked goods like anarkali, a kind of pastry in a packaged format, have also been launched by
artisanal players in India, proving popular among consumers of all ages. Britannia Industries
and Monginis Foods have announced they have many baked goods in the pipeline, with
launches expected by the end of 2018, during the festive season.
CATEGORY DATA
Table 231 Sales of Baked Goods by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Bread 2,338.1 2,384.6 2,448.3 2,497.2 2,564.8 2,652.1

- Flat Bread - 1.5 2.3 2.9 3.7 4.7
-- Packaged Flat Bread - 1.5 2.3 2.9 3.7 4.7
-- Unpackaged Flat Bread - - - - - -
- Leavened Bread 2,338.1 2,383.2 2,446.0 2,494.2 2,561.1 2,647.4
-- Packaged Leavened 823.1 838.1 862.6 881.7 905.7 935.7
Bread
-- Unpackaged Leavened 1,515.0 1,545.1 1,583.5 1,612.6 1,655.3 1,711.7
Bread
Cakes 165.8 175.5 187.5 199.0 211.9 225.8
- Packaged Cakes 71.0 75.9 82.1 88.1 94.8 102.1
- Unpackaged Cakes 94.7 99.7 105.5 110.9 117.1 123.8
Dessert Mixes 24.4 28.0 31.8 36.4 41.9 48.2
Frozen Baked Goods - - - - - -
Pastries 23.7 25.5 27.2 28.9 31.0 33.4
- Packaged Pastries 2.3 2.4 2.5 2.6 2.7 2.8
- Unpackaged Pastries 21.4 23.1 24.7 26.4 28.3 30.6
Baked Goods 2,551.9 2,613.6 2,694.8 2,761.5 2,849.6 2,959.6
Table 232 Sales of Baked Goods by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Bread 70,385.8 76,292.5 82,773.4 89,861.8 97,766.1 106,433.4

- Flat Bread - 220.0 371.0 522.0 704.7 938.7
-- Packaged Flat Bread - 220.0 371.0 522.0 704.7 938.7
- Leavened Bread 70,385.8 76,072.5 82,402.4 89,339.8 97,061.4 105,494.7
-- Packaged Leavened 30,760.4 33,436.6 36,504.5 39,541.2 43,000.0 46,784.0
Bread
Bread
Cakes 21,468.0 24,872.3 28,605.0 32,464.9 37,111.0 42,600.6
- Packaged Cakes 13,655.9 16,113.9 18,835.0 21,642.7 25,083.2 29,196.8

- Unpackaged Cakes 7,812.1 8,758.4 9,770.0 10,822.2 12,027.8 13,403.8
Dessert Mixes 4,324.0 5,030.6 5,728.7 6,576.4 7,624.7 8,875.1
Pastries 2,584.8 2,912.4 3,259.6 3,612.6 4,024.7 4,520.4
- Unpackaged Pastries 2,338.2 2,636.4 2,954.2 3,278.9 3,657.7 4,113.8
Baked Goods 98,762.5 109,107.8 120,366.7 132,515.7 146,526.5 162,429.5
Table 233 Sales of Baked Goods by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Bread 3.4 2.6 13.4

- Flat Bread 27.4 - -
-- Packaged Flat Bread 27.4 - -
-- Unpackaged Flat Bread - - -
- Leavened Bread 3.4 2.5 13.2
-- Packaged Leavened Bread 3.3 2.6 13.7
-- Unpackaged Leavened Bread 3.4 2.5 13.0
Cakes 6.6 6.4 36.2
- Packaged Cakes 7.7 7.5 43.6
- Unpackaged Cakes 5.7 5.5 30.7
Dessert Mixes 15.2 14.6 98.1
Frozen Baked Goods - - -
Pastries 7.7 7.1 41.1
- Packaged Pastries 3.9 4.1 22.5
- Unpackaged Pastries 8.0 7.4 43.1
Baked Goods 3.9 3.0 16.0
Table 234 Sales of Baked Goods by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Bread 8.9 8.6 51.2

- Flat Bread 33.2 - -
-- Packaged Flat Bread 33.2 - -
Cakes 14.8 14.7 98.4
Pastries 12.3 11.8 74.9
Baked Goods 10.9 10.5 64.5
Table 235 Sales of Pastries by Type: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Apple Turnovers 6.8 6.5 6.2 6.2 6.1 6.0

Chocolate-Coated Buns 2.3 2.3 2.3 2.3 2.3 2.3
Cinnamon Rolls 2.3 2.3 3.2 3.2 3.2 3.2
Cream Rolls 11.3 11.3 11.3 11.3 11.3 11.4
Croissants 17.5 17.8 17.9 18.0 18.1 18.3
Doughnuts 4.3 4.5 4.8 4.9 5.0 5.2
Éclairs 5.3 5.3 5.3 5.3 5.2 5.2
Muffins 9.8 9.9 10.0 10.0 10.0 10.4
Puff Pastries 23.8 23.9 24.0 24.0 24.0 24.1
Savoury Buns 9.3 9.3 9.2 9.0 8.9 8.9
Others 7.4 6.9 5.8 5.8 5.8 5.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 236 NBO Company Shares of Baked Goods: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Monginis Foods Ltd 3.1 3.4 3.4 3.6 3.9
Modern Food Enterprises - - 2.6 3.2 3.8
Pvt Ltd
Lotte India Corp Ltd 1.8 1.9 2.0 2.0 2.1
(India) Pvt Ltd
Bonn Nutrients Pvt Ltd 1.4 1.3 1.3 1.2 1.2
MTR Foods Pvt Ltd 1.2 1.2 1.2 1.2 1.1
Spencer's Retail Ltd 0.9 0.8 0.8 0.7 0.7
Kitty Industries Pvt Ltd 0.7 0.7 0.7 0.6 0.6
Milka Nutriments Pvt Ltd 0.5 0.5 0.5 0.5 0.5
Gits Food Products Pvt 0.6 0.6 0.6 0.6 0.5
Ltd
ID Fresh Food (India) 0.2 0.3 0.4 0.4 0.5
Pvt Ltd
United Trading Corp 0.3 0.2 0.2 0.2 0.2
Ltd
ITC Ltd 0.2 0.2 0.2 0.2 0.2
Ltd
Orkay Instant Foods Pvt 0.1 0.1 0.1 0.1 0.1
Ltd
Farinni Ltd - - - - -
Artisanal 49.5 48.7 48.2 47.6 46.9
Others 22.0 22.1 23.2 22.4 21.4
Total 100.0 100.0 100.0 100.0 100.0

Table 237 LBN Brand Shares of Baked Goods: % Value 2015-2018
% retail value rsp


Monginis Monginis Foods Ltd 3.4 3.4 3.6 3.9
Modern Modern Food Enterprises - 2.6 3.2 3.8
Pvt Ltd
Lotte (Lotte Group) Lotte India Corp Ltd 1.9 2.0 2.0 2.1
Weikfield Weikfield Products Co 1.1 1.1 1.2 1.3
(India) Pvt Ltd
Bonn Bonn Nutrients Pvt Ltd 1.3 1.3 1.2 1.2
Spencer's (Private Spencer's Retail Ltd 0.8 0.8 0.7 0.7
Label)
Kitty Kitty Industries Pvt Ltd 0.7 0.7 0.6 0.6
Milka Milka Nutriments Pvt Ltd 0.5 0.5 0.5 0.5
Gits Gits Food Products Pvt Ltd 0.6 0.6 0.6 0.5
ID ID Fresh Food (India) 0.3 0.4 0.4 0.5
Pvt Ltd
Brown & Polson Hindustan Unilever Ltd 0.3 0.3 0.3 0.3
(Premier Foods Plc)
Bluebird United Trading Corp 0.2 0.2 0.2 0.2
Ltd
(ITC Group)
Orkay Orkay Instant Foods Pvt 0.1 0.1 0.1 0.1
Ltd
Modern (Unilever Hindustan Unilever Ltd 4.1 - - -
Group)
Farinni Farinni Ltd - - - -
Artisanal Artisanal 48.7 48.2 47.6 46.9
(Private Label)
Others Others 22.2 23.3 22.6 21.6
Total Total 100.0 100.0 100.0 100.0
Table 238 Distribution of Baked Goods by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 9.5 9.8 9.8 10.0 9.3 9.4
Retailers
--- Hypermarkets 5.4 5.7 5.7 5.8 5.5 5.5

--- Supermarkets 3.9 3.9 3.9 3.9 3.6 3.6
Retailers
specialists
Grocers
--- Other Grocery 1.5 1.5 1.4 1.4 1.2 1.3
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 239 Forecast Sales of Baked Goods by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Bread 2,652.1 2,741.6 2,835.7 2,930.4 3,027.9 3,126.7

- Flat Bread 4.7 6.0 7.6 9.6 12.2 15.4
-- Packaged Flat Bread 4.7 6.0 7.6 9.6 12.2 15.4
- Leavened Bread 2,647.4 2,735.6 2,828.1 2,920.8 3,015.7 3,111.4
-- Packaged Leavened 935.7 966.5 998.6 1,029.6 1,062.4 1,096.4
Bread
Bread
Cakes 225.8 239.9 254.5 269.5 284.9 300.5
- Packaged Cakes 102.1 109.5 117.0 124.6 132.1 139.5
- Unpackaged Cakes 123.8 130.4 137.4 144.9 152.8 161.0
Dessert Mixes 48.2 55.0 61.9 69.0 75.9 82.6
Pastries 33.4 35.8 38.0 40.2 42.2 44.0
- Unpackaged Pastries 30.6 32.9 35.0 37.1 39.0 40.7
Baked Goods 2,959.6 3,072.3 3,190.1 3,309.2 3,430.9 3,553.9
trade sources
Table 240 Forecast Sales of Baked Goods by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Bread 106,433.4 109,853.7 112,656.9 114,790.7 116,226.9 116,945.4
- Flat Bread 938.7 1,183.8 1,481.2 1,838.4 2,263.7 2,764.8

-- Packaged Flat Bread 938.7 1,183.8 1,481.2 1,838.4 2,263.7 2,764.8
- Leavened Bread 105,494.7 108,669.9 111,175.7 112,952.3 113,963.3 114,180.6
-- Packaged Leavened 46,784.0 48,231.9 49,374.8 50,184.7 50,644.5 50,741.1
Bread
Bread
Cakes 42,600.6 46,134.9 49,462.3 52,455.3 55,016.7 57,054.4
- Packaged Cakes 29,196.8 32,028.3 34,694.3 37,104.1 39,171.8 40,816.4
- Unpackaged Cakes 13,403.8 14,106.6 14,767.9 15,351.2 15,844.9 16,237.9
Dessert Mixes 8,875.1 9,730.7 10,529.6 11,242.8 11,843.6 12,307.0
Pastries 4,520.4 4,790.9 5,019.3 5,197.1 5,317.9 5,376.6
- Unpackaged Pastries 4,113.8 4,365.2 4,577.7 4,743.7 4,856.8 4,912.5
Baked Goods 162,429.5 170,510.3 177,668.0 183,686.0 188,405.2 191,683.3
trade sources
Table 241 Forecast Sales of Baked Goods by Category: % Volume Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Bread 3.4 3.3 17.9

- Flat Bread 27.2 26.6 225.7
-- Packaged Flat Bread 27.2 26.6 225.7
Cakes 6.2 5.9 33.1
Pastries 7.0 5.6 31.6
trade sources
Table 242 Forecast Sales of Baked Goods by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Bread 3.2 1.9 9.9

- Flat Bread 26.1 24.1 194.5
-- Packaged Flat Bread 26.1 24.1 194.5
Cakes 8.3 6.0 33.9

Pastries 6.0 3.5 18.9
trade sources
BREAKFAST CEREALS IN INDIA -

CATEGORY ANALYSIS
HEADLINES
 Breakfast cereals retail current value sales rise by 14% in 2018 to reach INR25.8 billion
 Nestlé officially enters the area with its new NesPlus range in 2018
 Hot cereals leads growth in 2018, with retail current value sales rising by 17%
 Kellogg India leads sales in 2018, posting a retail value share of 52%
 Breakfast cereals is expected to post a retail value CAGR of 6% at constant 2018 prices over
the forecast period, with sales reaching INR33.9 billion in 2023
PROSPECTS
Breakfast Cereals Increasingly Consumed Throughout the Day

Breakfast cereals are no longer only consumed for breakfast, with consumers increasingly
eating products in this area during the day and as snacks. High versatility makes breakfast
cereals ideal snacks, with manufacturers promoting muesli and granola not only for meals but
also for direct consumption as snacks. Consumers have started to consume muesli and granola
as snacks, replacing fried savoury alternatives. Muesli and granola are also being used as
ingredients to prepare snack bars at home. Hot cereals like oats are being used to make many
traditional Indian dishes like poha and idly, rather than conventional porridge. Owing to such
multi-purpose uses, hot cereals, muesli and granola continue to see faster growth compared to
other breakfast cereals. Consumers looking for weight loss, balanced intake of minerals and
nutrients, along with a quick alternative to a traditional breakfast, will contribute to growth within
breakfast cereals during the forecast period.
High Unit Price Hikes Curbed Due To Gst

All breakfast cereals are unified and fall under tariff item classification number 1904 of the
Goods and Services (GST) regime, with the new fixed levy of 18% being below the previous
26%. This new lower tax rate boosted value sales during 2018 since many breakfast cereals
manufacturers have passed on benefits to consumers by reducing the annual hike in unit prices.
However, manufacturers increased unit prices during 2018 owing to the rise in the cost of
ingredients such as dry fruits and nuts, with GST on such products being increased to 12% in
2018 (vs 8-10% previously). Breakfast cereals also saw a rise in volume consumption during
2018 due to bulk purchases following falling tax rates.
Traditional Breakfast Cereals Face Intense Competition From Oat-

based Cereals
Consumers are gradually moving towards hot cereals, muesli and granola from flakes as they
have started to realize the health benefits of the former. Consequently, retail value growth within
flakes was lower than for other breakfast cereals during 2018. Flakes have high sugar content
and are fried, thus making them unhealthy options for consumers who eat breakfast cereals
regularly. It is expected that retail value growth within flakes will decline further during the
forecast period as consumers move towards healthier options in breakfast cereals. In response
to growth opportunities in hot cereals, granola and muesli, breakfast cereal manufacturers like
Kellogg India are introducing new flavours in flakes to promote sales. Smaller pack sizes,
affordable pricing, trail packs and attractive packaging are some of the strategies that will be
used by manufacturers to promote sales of flakes during the forecast period.
Kellogg India Continues To Lead Breakfast Cereals

Kellogg India, the leading player in breakfast cereals, continued to launch new products
during 2018 to suit the needs of consumers. During October 2018, Kellogg launched Kellogg
Choco Fills, which can be consumed as a breakfast cereal for children and as a snack. This is a
very new product in India as the breakfast cereal contains two layers, a crunchy outside with a
chocolate filling inside.
Targeting Health Conscious Consumers

The company also claims Kellogg Choco Fills is a healthy breakfast cereal since it is baked
and not fried, made with rice, oats and wheat. The brand also provides protein and fibre, is
fortified with vitamin B, and is naturally cholesterol-free.
Nestlé India Enters Breakfast Cereals With Nesplus Brand

During July 2018, Nestlé India launched its NesPlus brand and officially entered breakfast
cereals in India. The range of products under NesPlus includes Kokos, Choco-Burst Fillows,
Strawberry-Burst Fillows and Nutty Honey Granola. The company claims that the product is
made from wheat, rice, oats and traditional Indian millet, jowar. The brand is also fortified with
vitamin D and B, calcium, iron, folic acid, and fibre, which is a great addition to the breakfast
table. The entry of the company into breakfast cereals is providing tough competition for leading
players like Kellogg India, PepsiCo India Holdings, Marico and Bagrry’s India.
CATEGORY DATA
Table 243 Sales of Breakfast Cereals by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Hot Cereals 14.5 18.7 23.1 25.0 27.5 30.7

RTE Cereals 21.5 25.2 28.5 31.3 34.5 38.0
- Children's Breakfast 1.8 2.0 2.3 2.5 2.9 3.2
Cereals
- Family Breakfast 19.7 23.2 26.2 28.7 31.6 34.8
Cereals
-- Flakes 16.9 19.5 21.6 23.5 25.8 28.3
-- Muesli and Granola 2.8 3.7 4.7 5.2 5.8 6.5
-- Other RTE Cereals - - - - - -
Breakfast Cereals 36.0 43.9 51.6 56.3 62.0 68.7
Table 244 Sales of Breakfast Cereals by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Hot Cereals 3,090.7 4,280.5 5,574.2 6,325.1 7,303.4 8,545.3

RTE Cereals 8,609.8 10,341.5 12,009.3 13,526.7 15,259.7 17,250.6
- Children's Breakfast 747.3 877.8 1,020.2 1,168.5 1,339.3 1,537.3
Cereals
- Family Breakfast 7,862.5 9,463.7 10,989.1 12,358.1 13,920.4 15,713.2
Cereals
-- Flakes 6,582.5 7,799.7 8,843.9 9,860.9 11,009.7 12,308.8
-- Muesli and Granola 1,280.0 1,664.0 2,145.2 2,497.2 2,910.7 3,404.4
Breakfast Cereals 11,700.5 14,622.0 17,583.5 19,851.8 22,563.1 25,795.9
Table 245 Sales of Breakfast Cereals by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Hot Cereals 11.6 16.2 111.4

RTE Cereals 10.3 12.1 76.9
- Children's Breakfast Cereals 11.9 12.7 81.8
- Family Breakfast Cereals 10.1 12.0 76.5
-- Flakes 9.7 10.9 67.4
-- Muesli and Granola 11.9 18.2 130.5
-- Other RTE Cereals - - -
Breakfast Cereals 10.9 13.8 90.8
Table 246 Sales of Breakfast Cereals by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Hot Cereals 17.0 22.6 176.5

RTE Cereals 13.0 14.9 100.4
-- Flakes 11.8 13.3 87.0
Table 247 NBO Company Shares of Breakfast Cereals: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Kellogg India Ltd 61.2 58.2 55.6 53.9 52.1

Pvt Ltd
Marico Ltd 5.7 6.5 7.3 8.2 9.2
Bagrry's India Ltd 6.5 6.1 5.6 5.1 4.6
Avesta Good Earth Foods 1.4 1.5 1.7 1.8 2.0
Pvt Ltd
Express Foods Pvt Ltd 1.3 1.3 1.3 1.3 1.3
Mohan Meakin Ltd 1.9 1.7 1.5 1.3 1.1
Avee's Products India Ltd 0.2 0.2 0.2 0.2 0.2
Hindustan Vegetable Oil - - - - -
Corp Ltd
Frito-Lay India - - - - -
Others 7.1 8.6 11.5 13.5 15.5
Total 100.0 100.0 100.0 100.0 100.0
Table 248 LBN Brand Shares of Breakfast Cereals: % Value 2015-2018
% retail value rsp

Kellogg's Corn Kellogg India Ltd 36.4 34.9 33.9 32.8

Flakes (Kellogg Co)
Quaker (PepsiCo Inc) PepsiCo India Holdings 10.9 10.4 9.8 9.2
Pvt Ltd
Bagrry's Bagrry's India Ltd 6.1 5.6 5.1 4.6
Horlicks Oats GlaxoSmithKline 4.6 4.5 4.4 4.2
Kellogg's Oats Kellogg India Ltd 4.7 4.4 4.1 3.8
(Kellogg Co)
Kellogg's Mueslix Kellogg India Ltd 2.8 2.6 2.5 2.4
(Kellogg Co)
Kellogg's Chocos Kellogg India Ltd 2.9 2.7 2.5 2.4
(Kellogg Co)
Good Earth Avesta Good Earth Foods 1.5 1.7 1.8 2.0
(Avesthagen Ltd) Pvt Ltd
Express Foods Express Foods Pvt Ltd 1.3 1.3 1.3 1.3
Mohun's Mohan Meakin Ltd 1.7 1.5 1.3 1.1
Kellogg's Frosties Kellogg India Ltd 1.1 1.1 1.0 0.9
(Kellogg Co)
Avee's Avee's Products India Ltd 0.2 0.2 0.2 0.2
Quaker (PepsiCo Inc) Frito-Lay India - - - -
Champion Hindustan Vegetable Oil - - - -
Corp Ltd
(Private Label)
Others Others 18.8 21.5 23.4 25.3
Total Total 100.0 100.0 100.0 100.0
Table 249 Distribution of Breakfast Cereals by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 34.9 34.9 35.9 39.0 39.1 41.1
Retailers
--- Hypermarkets 20.2 20.2 20.8 22.5 22.6 23.7
--- Supermarkets 14.7 14.7 15.1 16.5 16.5 17.4
Retailers
specialists
Grocers
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 250 Forecast Sales of Breakfast Cereals by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Hot Cereals 30.7 34.7 38.9 43.0 47.0 50.7

RTE Cereals 38.0 41.5 44.8 47.9 50.8 53.2
- Children's Breakfast 3.2 3.5 3.9 4.2 4.5 4.7
Cereals
- Family Breakfast 34.8 37.9 40.9 43.7 46.3 48.5
Cereals
-- Flakes 28.3 30.7 33.1 35.3 37.3 39.1
-- Muesli and Granola 6.5 7.2 7.9 8.5 9.0 9.4
Breakfast Cereals 68.7 76.2 83.6 90.9 97.7 103.9
trade sources
Table 251 Forecast Sales of Breakfast Cereals by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Hot Cereals 8,545.3 9,623.4 10,664.9 11,627.4 12,468.3 13,146.4

RTE Cereals 17,250.6 18,378.9 19,332.5 20,071.1 20,562.4 20,781.5
- Children's Breakfast 1,537.3 1,659.6 1,765.4 1,849.8 1,909.1 1,940.1
Cereals
- Family Breakfast 15,713.2 16,719.3 17,567.1 18,221.3 18,653.3 18,841.4
Cereals
-- Flakes 12,308.8 12,983.4 13,538.8 13,954.7 14,215.7 14,310.7
-- Muesli and Granola 3,404.4 3,735.9 4,028.3 4,266.6 4,437.6 4,530.7
Breakfast Cereals 25,795.9 28,002.3 29,997.4 31,698.5 33,030.7 33,927.9
trade sources
Table 252 Forecast Sales of Breakfast Cereals by Category: % Volume Growth 2018-
2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Hot Cereals 13.1 10.6 65.1

RTE Cereals 9.1 7.0 39.9
-- Flakes 8.6 6.7 38.0
trade sources
Table 253 Forecast Sales of Breakfast Cereals by Category: % Value Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Hot Cereals 12.6 9.0 53.8

RTE Cereals 6.5 3.8 20.5
-- Flakes 5.5 3.1 16.3
trade sources
PROCESSED FRUIT AND

VEGETABLES IN INDIA - CATEGORY
ANALYSIS
HEADLINES
 Processed fruit and vegetables retail current value sales grow by 13% in 2018 to reach
INR13.8 billion
 Consumers continue to shift towards shelf-stable fruits and vegetables
 Shelf stable fruit leads growth in 2018, with retail current value sales rising by 16%
 Average current unit prices rise by 5% in 2018
 McCain Foods India leads sales in 2018, posting a retail value share of 14%
 Processed fruit and vegetables is expected to post a retail value CAGR of 4% at constant
2018 prices over the forecast period, with sales reaching INR16.4 billion in 2023
PROSPECTS
Consumers Experimenting With Shelf Stable Fruit and Vegetables

Shelf stable beans and vegetables are slowly gaining popularity both in Indian households
and among frequent travellers. Some Indian households have started to use shelf stable beans
and vegetables to make traditional dishes like curries. Shelf stable beans and vegetables
minimise preparation time and provide consumers with new tastes and flavours. In addition,
such products are used for home cooking of international cuisine, which is a growing trend.
Many consumers also carry shelf stable fruit and vegetables with them while travelling.
Pineapple slices, peaches, cherries and vegetables like shelf stable tomatoes, beans and sweet
corn are among the most popular choices for travellers as they are quick meal options.
Some other less popular uses for shelf stable vegetables are for making soups and direct
consumption, mostly among time pressed consumers. However, shelf stable fruits are widely
used to make international desserts and bases for traditional desserts like kheer. While
awareness of shelf stable fruit and vegetables is still low among Indian consumers, the current
consumption rate looks promising with regard to future growth opportunities.
Frozen Potatoes Sales Rise While Vegetables Sales Remain Flat

Frozen potato products remain a popular snack option for consumers due to availability in a
variety of formats such as fries, wedges and rolls. With the growing popularity of fast food, cafés
and other consumer foodservice outlets, consumers are becoming more exposed to
international snacks. Many consumers are influenced by such snacks in consumer foodservice
outlets and often prepare them at home while consuming alcohol or throwing a party as it is
easy and quick to prepare. Such trends were the main drivers for growth within frozen
processed potatoes during 2018, while some other drivers were rising awareness and
availability via all retail channels.
Rising Demand Among Foodservice Players

Frozen vegetables sales are declining in retail outlets, but picking up among foodservice
players. Since India is an agricultural nation, there is always a fresh supply of vegetables and
fruits, thus limiting demand for frozen processed vegetables. However, there is demand for
some international vegetables such as broccoli, different peppers and other products which are
not available fresh. As a result, such vegetables are mostly sold frozen in India, with demand
expected to grow until local production of such vegetables meets the needs of consumers.
Mccain Food India Leads the Way Within Processed Fruit and
Vegetables
McCain, with its range of potato-based offerings like fries, wedges, croquettes and many other
products, continues to grow more strongly than other players in processed fruit and vegetables
in India. McCain Food India is a dominant player in foodservice and institutional areas and is
also a tough contender in the retail segment.
Growing Competition From Domestic Players

Despite McCain’s dominance in frozen processed potatoes, the company faces competition
from domestic players like Godrej Agrovet and other local operators. Indeed, during 2018,
McCain lost some value share to new entrants and private label players.
Smaller Players Post Faster Growth in Processed Fruit and Vegetables

Smaller players like Neo Foods, private label ranges and Weikfield Products Co (India) are
growing faster in retail value terms than leading players in processed fruit and vegetables.
These players usually target leading players by selling products at attractive prices and offering
discounts on large volume packs. Many first-time buyers of processed fruit and vegetables are
attracted by such offers and often choose inexpensive brands over leading alternatives. Private
label players are benefitting from such sales since they have a wide portfolio of products, offer
the cheapest prices, and promote their own products in stores, thus leading to high retail value
growth.
CATEGORY DATA
Table 254 Sales of Processed Fruit and Vegetables by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Shelf Stable Fruit and 22.6 25.3 28.2 30.7 33.7 37.3
Vegetables
- Shelf Stable Beans 0.8 0.9 1.0 1.2 1.3 1.4
- Shelf Stable Fruit 19.7 22.1 24.5 26.8 29.6 32.9
- Shelf Stable Tomatoes - - - - - -
- Shelf Stable Vegetables 2.0 2.3 2.6 2.7 2.8 3.0
Frozen Processed Fruit 19.7 20.5 20.7 21.0 21.3 21.7
and Vegetables
- Frozen Fruit - - - - - -
- Frozen Processed 6.4 7.2 7.9 8.7 9.5 10.4
Potatoes
Vegetables
Processed Fruit and 42.3 45.8 48.9 51.7 55.0 59.0
Vegetables
Table 255 Sales of Processed Fruit and Vegetables by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Shelf Stable Fruit and 4,242.6 4,944.6 5,704.7 6,471.2 7,428.1 8,596.6
Vegetables
- Shelf Stable Fruit 3,822.2 4,437.4 5,097.7 5,783.9 6,651.5 7,715.7
Frozen Processed Fruit 3,497.4 3,793.2 4,086.1 4,414.8 4,784.5 5,204.2
and Vegetables
- Frozen Processed 1,485.6 1,738.6 1,991.1 2,285.7 2,628.6 3,028.1
Potatoes
Vegetables
Processed Fruit and 7,740.0 8,737.7 9,790.8 10,886.0 12,212.6 13,800.8
Vegetables
Table 256 Sales of Processed Fruit and Vegetables by Category: % Volume Growth
2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Shelf Stable Fruit and Vegetables 10.5 10.6 65.2

- Shelf Stable Beans 8.1 11.3 70.4
- Shelf Stable Fruit 11.1 10.8 66.7
- Shelf Stable Tomatoes - - -
- Shelf Stable Vegetables 5.7 8.3 48.6
Frozen Processed Fruit and Vegetables 1.9 1.9 9.8
- Frozen Fruit - - -
- Frozen Processed Potatoes 9.6 10.1 61.5
- Frozen Processed Vegetables -4.2 -3.2 -15.1
Processed Fruit and Vegetables 7.2 6.9 39.4
Table 257 Sales of Processed Fruit and Vegetables by Category: % Value Growth 2013-
2018

2017/18 2013-18 CAGR 2013/18 Total

- Frozen Processed Vegetables 0.9 1.6 8.2
Table 258 Sales of Frozen Processed Vegetables by Type: % Value Breakdown 2013-
2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Baby Corn 7.0 7.0 7.0 7.0 7.0 7.2

Cauliflower Florets 3.0 3.0 3.0 2.0 1.0 0.8
Garden Peas 69.0 68.0 67.0 67.0 67.0 67.2
Vegetable Mix 14.0 15.0 15.0 16.0 17.0 16.8
Others 7.0 7.0 8.0 8.0 8.0 8.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 259 NBO Company Shares of Processed Fruit and Vegetables: % Value 2014-
2018
% retail value rsp

Company 2014 2015 2016 2017 2018
McCain Foods India Pvt 13.9 13.9 14.0 14.0 13.9

Ltd
Panama Marketing Co 4.7 4.7 4.7 4.7 4.6
Temptation Foods Ltd 4.4 4.4 4.5 4.5 4.5
Elmac Agro India Pvt Ltd 3.3 3.3 3.4 3.4 3.3
Vegetable Pvt Ltd
Kayti's Food Preservers 3.5 3.4 3.3 3.2 3.1
Oudh Sugar Mills Ltd, The 4.1 3.8 3.5 2.8 2.4
Wimpy Int Ltd 2.5 2.5 2.5 2.5 2.4
Godrej Agrovet Ltd 2.5 2.6 2.4 2.0 1.8
Merino Group 4.7 3.3 2.5 2.0 1.7
Ltd
Ltd
Tai Industries Ltd 2.1 1.5 1.2 0.9 0.6
(India) Pvt Ltd
Heinz India Pvt Ltd 0.1 0.1 0.1 0.1 0.1

Others 37.7 40.9 44.6 49.0 52.9
Total 100.0 100.0 100.0 100.0 100.0
Table 260 LBN Brand Shares of Processed Fruit and Vegetables: % Value 2015-2018
% retail value rsp

McCain (McCain McCain Foods India Pvt 13.9 14.0 14.0 13.9
Foods Ltd) Ltd
Panama Panama Marketing Co 4.7 4.7 4.7 4.6
Ever Fresh Temptation Foods Ltd 4.4 4.5 4.5 4.5
Elmac Elmac Agro India Pvt Ltd 3.3 3.4 3.4 3.3
Board)
Kayti's Kayti's Food Preservers 3.4 3.3 3.2 3.1
Morton Oudh Sugar Mills Ltd, The 3.8 3.5 2.8 2.4
Wimpy Wimpy Int Ltd 2.5 2.5 2.5 2.4
Yummiez (Godrej Godrej Agrovet Ltd 2.6 2.4 2.0 1.8
Group)
Vegit Merino Group 3.3 2.5 2.0 1.7
Green Giant (B & G General Mills India Pvt 0.7 0.7 0.8 0.7
Foods Inc) Ltd
Group A/S) Ltd
Druk (Tashi Group) Tai Industries Ltd 1.5 1.2 0.9 0.6
Weikfield Weikfield Products Co 0.4 0.4 0.4 0.4
(India) Pvt Ltd
Heinz (Kraft Heinz Heinz India Pvt Ltd 0.1 0.1 0.1 0.1
Co)
Green Giant General Mills India Pvt - - - -
(General Mills Inc) Ltd
Heinz (Heinz Co, HJ) Heinz India Pvt Ltd - - - -
Others Others 40.9 44.6 49.0 52.9
Total Total 100.0 100.0 100.0 100.0
Table 261 Distribution of Processed Fruit and Vegetables by Format: % Value 2013-
2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 22.8 25.1 26.3 27.0 25.7 25.4
Retailers

--- Hypermarkets 5.2 6.4 6.7 6.7 6.5 6.6
--- Supermarkets 17.6 18.7 19.6 20.2 19.1 18.8
-- Traditional Grocery - - - - - -
Retailers
specialists
--- Independent Small - - - - - -
Grocers
Retailers
-- Other Foods Non- 77.1 74.8 73.6 73.0 73.9 73.8
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 262 Forecast Sales of Processed Fruit and Vegetables by Category: Volume
2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Shelf Stable Fruit and 37.3 40.8 44.0 47.0 49.5 51.5
Vegetables
- Shelf Stable Fruit 32.9 36.1 39.2 41.9 44.2 46.0
Frozen Processed Fruit 21.7 22.2 22.7 23.2 23.7 24.1
and Vegetables
Potatoes
Vegetables
Processed Fruit and 59.0 62.9 66.7 70.2 73.2 75.6
Vegetables
trade sources
Table 263 Forecast Sales of Processed Fruit and Vegetables by Category: Value 2018-
2023
INR million
2018 2019 2020 2021 2022 2023
Shelf Stable Fruit and 8,596.6 9,328.3 9,942.9 10,406.1 10,690.3 10,775.9
Vegetables
- Shelf Stable Fruit 7,715.7 8,388.9 8,955.9 9,384.8 9,649.9 9,732.8
Frozen Processed Fruit 5,204.2 5,371.7 5,505.3 5,591.3 5,624.4 5,598.1
and Vegetables
Potatoes
Vegetables
Processed Fruit and 13,800.8 14,700.0 15,448.2 15,997.3 16,314.7 16,374.1
Vegetables
trade sources
Table 264 Forecast Sales of Processed Fruit and Vegetables by Category: % Volume
Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total

trade sources
Table 265 Forecast Sales of Processed Fruit and Vegetables by Category: % Value
Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

trade sources
PROCESSED MEAT AND SEAFOOD IN

INDIA - CATEGORY ANALYSIS
HEADLINES
 Processed meat and seafood retail current value sales rise by 15% in 2018 to reach INR14.5
billion
 Strong demand for convenience continues to boost sales
 Frozen processed seafood leads growth in 2018, posting retail current value growth of 24%
 Godrej Tyson Foods leads sales in 2018, recording a retail value share of 20%
 Processed meat and seafood is expected to post a retail value CAGR of 5% at constant 2018
prices over the forecast period, with sales reaching INR18.2 billion in 2023
PROSPECTS
Frozen Processed Red Meat Sales Remain Limited

The ban on slaughtering and selling beef in fresh and processed formats imposed by the
central government and a few states continued to impact sales during 2018. Many retailers are
hesitant to sell processed beef along with other meat at stores, fearing complaints and a drop in
sales and store foot fall. A few manufacturers such as Al Kabeer Exports sell processed buffalo
meat products in India, although the majority of their red meat is exported to international
destinations.
Lamb, goat, pork and other types of red meat are sold in frozen formats in India, although
demand is very limited as fresh red meat is available in butcher shops at cheaper prices. This
has been a major challenge for the growth of all frozen processed red meat. Frozen processed
poultry, on the other hand, has seen a significant rise in demand due to the vast range of
products available. Boneless versions of poultry are growing in popularity, especially among
regular consumers who buy frozen processed poultry, which is suitable for preparing many
dishes.
Frozen Processed Seafood Continues To Gain Popularity

The availability of different ocean and inland fish products has helped to fuel good growth in
frozen processed seafood. International seafood enjoys strong demand in India. However, a
lack of availability in fresh formats and infrastructure challenges regarding domestic production
have led to a high level of importation in this area. Domestic seafood also enjoys strong
demand, including in places far away from coastal regions, where frozen processed seafood is
more practical.
Despite growing demand for frozen processed seafood, the area is challenged by the
availability of fresh seafood in the vast coastal areas across the peninsular region. Inland fish,
on the other hand, is also quite a delicacy in India, with demand remaining high throughout the
year. As a result, strong demand for fish sourced from rivers and lakes is also fuelling the
growth of frozen processed seafood in India.
Rising Health Consciousness and Demand for Convenience Fuelling

Sales
Other reasons for growth within frozen processed seafood include growing internet retailing
channels, increasing focus on nutritious food, and the convenience of long term storage.
Independent small grocery retailers in tier II cities and even some small towns around major
cities are setting up compact freezers and chillers to increase the shelf life of meat products.
This has been boosting sales of frozen seafood in neighbouring small towns of tier II cities.
Frozen processed seafood will continue to grow faster than frozen processed meat products in
India due to rising demand for fish owing to its high protein content and rich nutrients like omega
3 fatty acids.
Godrej Tyson Food Continues To Lead Sales

Godrej Tyson Food, which operates under its Yummiez brand name, has introduced many
frozen processed poultry products in India since 2017, with the company’s brands being
affordable and coming in attractive see-through packaging.
Wide Product Offering Key To Success

The Godrej range includes both domestic and international cuisine poultry products like
nuggets, kebabs, masala chilli chicken and many more that suit the tastes of all consumers. The
company’s offering of many different product varieties, coupled with a well-established
distribution system, has allowed Godrej to maintain its leading position in processed meat and
seafood.
Venky’s India Increases Sales Share in Processed Meat and Seafood

Venky’s Chicken is a popular brand in frozen processed poultry in India. Although fresh
poultry sales are a major source of revenue for the company through its own outlets, processed
poultry is also significant since it is sold through both the company’s own outlets and other retail
channels. In addition, Venky’s also offers attractive see-through packaging and affordable
prices. The company has constantly gained share in frozen processed poultry since 2016,
ranking second in 2018.
CATEGORY DATA
Table 266 Sales of Processed Meat and Seafood by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Processed Meat 23.8 27.0 30.9 33.9 37.2 40.7

- Shelf Stable Meat - - - - - -
-- Shelf Stable - - - - - -
Processed Red Meat
Processed Poultry
- Chilled Processed Meat - - - - - -
-- Chilled Processed - - - - - -
Red Meat
Poultry
- Frozen Processed Meat 23.8 27.0 30.9 33.9 37.2 40.7
-- Frozen Processed Red 1.2 1.4 1.6 1.8 2.0 2.2
Meat
-- Frozen Processed 22.7 25.6 29.3 32.1 35.1 38.5
Poultry
Processed Seafood 2.1 2.5 3.0 3.6 4.3 5.1
- Shelf Stable Seafood 0.2 0.2 0.3 0.3 0.3 0.4
- Chilled Processed - - - - - -
Seafood
Seafood
Meat Substitutes - - - - - -
- Chilled Meat - - - - - -
Substitutes
- Frozen Meat Substitutes - - - - - -
Substitutes
Processed Meat and 25.9 29.5 33.8 37.5 41.4 45.8
Seafood
Table 267 Sales of Processed Meat and Seafood by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Processed Meat 5,921.8 6,912.7 8,105.5 9,178.3 10,396.2 11,797.5

Processed Red Meat
Processed Poultry
Red Meat
Poultry
- Frozen Processed Meat 5,921.8 6,912.7 8,105.5 9,178.3 10,396.2 11,797.5
Meat
-- Frozen Processed 5,536.0 6,434.0 7,535.0 8,504.0 9,626.0 10,943.5
Poultry
Processed Seafood 916.4 1,141.2 1,410.2 1,750.7 2,162.2 2,675.0
Seafood
- Frozen Processed 809.2 1,012.8 1,257.5 1,571.0 1,949.6 2,421.4
Seafood
Substitutes
Substitutes
Processed Meat and 6,838.2 8,053.9 9,515.7 10,929.0 12,558.5 14,472.5
Seafood
Table 268 Sales of Processed Meat and Seafood by Category: % Volume Growth 2013-
2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Processed Meat 9.4 11.3 70.7

- Shelf Stable Meat - - -
-- Shelf Stable Processed Red Meat - - -
-- Shelf Stable Processed Poultry - - -
- Chilled Processed Meat - - -
-- Chilled Processed Red Meat - - -
-- Chilled Processed Poultry - - -
- Frozen Processed Meat 9.4 11.3 70.7
-- Frozen Processed Red Meat 6.0 13.0 84.1
-- Frozen Processed Poultry 9.6 11.2 70.0
Processed Seafood 19.2 19.8 146.5
- Shelf Stable Seafood 12.7 13.1 85.4
- Chilled Processed Seafood - - -
- Frozen Processed Seafood 19.8 20.4 153.3
Meat Substitutes - - -
- Chilled Meat Substitutes - - -
- Frozen Meat Substitutes - - -
- Shelf Stable Meat Substitutes - - -
Processed Meat and Seafood 10.5 12.1 76.8
Table 269 Sales of Processed Meat and Seafood by Category: % Value Growth 2013-
2018

2017/18 2013-18 CAGR 2013/18 Total

Table 270 Sales of Frozen Processed Red Meat by Type: % Volume Breakdown 2013-
2018
% retail volume
2013 2014 2015 2016 2017 2018
Beef 30.0 30.0 30.0 30.0 30.0 30.0

Lamb 65.0 65.0 65.0 65.0 65.0 65.0
Pork 3.0 3.0 3.0 3.0 3.0 3.0
Other Red Meats 2.0 2.0 2.0 2.0 2.0 2.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 271 Sales of Frozen Processed Poultry by Type: % Value Breakdown 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Breaded Chicken Burger 11.0 11.0 11.0 10.0 9.0 9.0

Breaded Chicken Cutlets 15.0 14.7 14.5 14.4 14.4 14.4
Chicken Momos 1.0 1.0 1.0 0.1 0.1 0.1
Chicken Nuggets 15.5 15.6 16.2 16.1 18.0 18.3
Chicken Sticks 6.0 6.0 6.0 6.0 6.0 6.0
Chicken Tikkas 11.5 11.5 11.4 11.3 11.2 11.3
Sausages 15.5 15.5 15.6 15.6 15.6 15.6
Seasoned Chicken 7.0 7.0 7.0 7.0 7.0 7.0
Drumsticks
Seekh Kababs Chicken 16.0 16.2 16.1 16.1 16.1 16.1
Others 1.5 1.5 1.2 3.4 2.6 2.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 272 Sales of Frozen Processed Seafood by Type: % Value Breakdown 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018
Breaded Fish Fillets 27.0 27.0 27.0 28.0 29.0 29.0

Breaded Fish Rolls 3.5 3.5 3.5 3.2 3.0 2.8
Breaded Prawns 6.0 6.0 6.0 6.0 6.1 6.1
Fish Fingers 33.5 33.5 33.5 34.0 35.0 35.5
Fish Processed Nuggets 11.5 12.0 12.0 12.0 11.0 11.5
Fish Processed Steaks 5.0 4.5 4.5 4.6 4.7 4.7
Minced Fish Meat Keema 7.0 7.0 7.0 7.0 6.9 6.9
Others 6.5 6.5 6.5 5.2 4.3 3.5
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 273 NBO Company Shares of Processed Meat and Seafood: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Godrej Tyson Foods Ltd 29.1 29.3 26.4 22.9 19.7

Venky's India Ltd 19.3 13.3 13.3 14.4 15.3
Darshan Foods Pvt Ltd 7.7 6.2 6.4 7.3 8.2
Suguna Poultry Products 2.2 2.1 2.0 1.9 1.7
Ltd
Triveni Fisheries Pvt Ltd 1.3 1.3 1.4 1.4 1.4
Britto Seafood Exports 0.2 0.2 0.2 0.2 0.3
Pvt Ltd
Coronet Canning Co 0.2 0.2 0.2 0.2 0.2
Judes India Foods Pvt Ltd 0.1 0.1 0.1 0.1 0.1
Others 24.4 35.0 40.3 47.2 50.1
Total 100.0 100.0 100.0 100.0 100.0
Table 274 LBN Brand Shares of Processed Meat and Seafood: % Value 2015-2018
% retail value rsp

Yummiez (Godrej Godrej Tyson Foods Ltd 29.3 26.4 22.9 19.7
Group)
Venky's Venky's India Ltd 13.3 13.3 14.4 15.3
Meatzza Darshan Foods Pvt Ltd 6.2 6.4 7.3 8.2
Suguna Home Bites Suguna Poultry Products 2.1 2.0 1.9 1.7
Ltd
Triveni Sealed In Triveni Fisheries Pvt Ltd 1.3 1.4 1.4 1.4
Freshness
Britte Britto Seafood Exports 0.2 0.2 0.2 0.3
Pvt Ltd
Anchor Coronet Canning Co 0.2 0.2 0.2 0.2
Others Others 35.1 40.4 47.3 50.2
Total Total 100.0 100.0 100.0 100.0
Table 275 Distribution of Processed Meat and Seafood by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 10.0 10.9 12.1 12.8 12.6 13.1
Retailers
--- Hypermarkets 3.3 3.9 4.4 4.5 4.4 4.6

--- Supermarkets 6.7 7.0 7.7 8.2 8.1 8.5
Retailers
specialists
Grocers
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 276 Forecast Sales of Processed Meat and Seafood by Category: Volume 2018-
2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Processed Meat 40.7 44.1 47.3 50.3 52.9 55.0

Processed Red Meat
Processed Poultry
Red Meat
Poultry
- Frozen Processed Meat 40.7 44.1 47.3 50.3 52.9 55.0
Meat
-- Frozen Processed 38.5 41.8 44.9 47.7 50.2 52.1
Poultry
Processed Seafood 5.1 5.9 6.8 7.6 8.3 8.9
Seafood
Seafood
Substitutes
Substitutes
Processed Meat and 45.8 50.0 54.1 57.9 61.2 63.9

Seafood
trade sources
Table 277 Forecast Sales of Processed Meat and Seafood by Category: Value 2018-
2023
INR million
2018 2019 2020 2021 2022 2023
Processed Meat 11,797.5 12,586.0 13,225.8 13,684.3 13,939.2 13,974.6

Processed Red Meat
Processed Poultry
Red Meat
Poultry
- Frozen Processed Meat 11,797.5 12,586.0 13,225.8 13,684.3 13,939.2 13,974.6
Meat
-- Frozen Processed 10,943.5 11,690.4 12,294.5 12,725.5 12,960.8 12,985.5
Poultry
Processed Seafood 2,675.0 3,084.0 3,470.4 3,809.6 4,077.8 4,253.6
Seafood
Seafood
Substitutes
Substitutes
Processed Meat and 14,472.5 15,670.0 16,696.1 17,494.0 18,017.0 18,228.2
Seafood
trade sources
Table 278 Forecast Sales of Processed Meat and Seafood by Category: % Volume
Growth 2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total


trade source
Table 279 Forecast Sales of Processed Meat and Seafood by Category: % Value
Growth 2018-2023

2018/2019 2018-23 CAGR 2018/23 Total

trade source
RICE, PASTA AND NOODLES IN INDIA

- CATEGORY ANALYSIS
HEADLINES
 Rice, pasta and noodles retail current value sales increase by 24% to reach INR470.0 billion
in 2018
 Noodles bounces back and sees good growth in 2018
 Rice leads growth in 2018, posting retail current value growth of 25%
 Nestlé India leads sales in 2018, recording a retail value share of 7%
 Rice, pasta and noodles is expected to post a retail value CAGR of 11% at constant 2018
prices over the forecast period, with sales reaching INR773.9 billion in 2023
PROSPECTS
Focus on Flavours and Promotion Boosts Noodles Sales

The ban on Maggi noodles affected overall noodles sales during 2015. However, the area
recovered completely during 2018 and is now posting healthy growth. Instant noodles are highly
popular in India. Since the ban was lifted on Maggi, Nestlé worked towards regaining the trust of
consumers by investing in promotional activities through various media. For example, the
company is launching new flavours and attractive packaging, with the penetration of noodles
playing a crucial role in the growth of noodles during 2018. The lifting of the ban has helped to
fuel overall instant noodle sales.
On the other hand, plain noodles sales have been growing faster in 2018, with hakka noodles
and traditional dried noodles in packaged formats gaining more awareness. Plain noodles are
used for multiple dishes, particularly Chinese and Thai cuisine, as well as traditional Indian
dishes like noodles poha and desserts like kheer. Plain noodles, along with instant noodles, will
post good growth during the forecast period, mainly for their taste and convenience.
Pasta Becoming More and More Common in Indian Households

With the popularity of Italian and Mediterranean cuisines, pasta dishes have become a
common meal option for many urban households. Innovation in pasta is seeping slowly into the
Indian market, with some companies introducing flavoured dried pasta. Spinach, chilly and beet
flavoured dried pasta are some of the noticeable products now available. International pasta
brands like Del Monte and Borges, which were available mostly in supermarkets and
hypermarkets before 2017, are now being sold through independent small grocers and other
store-based retail channels. This has been instrumental to the rise in sales of pasta, with
availability in such stores continuing to grow.
Although demand for health and wellness pasta remains negligible, some health and beauty
specialist retailers sell organic and gluten-free pasta. Supermarkets and hypermarkets have
also been selling many imported high-fibre, organic and gluten-free brands, such as Naturally
Yours Pasta. During the forecast period, it is expected that there will be a rise in consumption of
both standard and health and wellness pasta.
New Gst Supports Rice Value Sales

The introduction of GST has removed any direct and indirect tax on unbranded rice, while a
transparent 5% tax was imposed on branded rice in 2017. Both manufacturers and consumers
benefited from the new tax on rice during 2018, with value and volume sales being boosted by
the decline in unit prices. Unbranded packaged rice, which was already cheaper, saw a further
reduction in unit price, supporting consumption. Similarly, premium branded packaged rice like
basmati saw a drop in unit prices, thus boosting demand.
However, both branded and unbranded packaged rice saw stiff competition from unpackaged
rice, which leads overall sales. Packaged rice is unaffordable for the majority of lower income
groups and is mainly used for special occasions or preparing special dishes, with unpackaged
rice continuing to lead sales. This situation is expected to continue during the forecast period as
demand for unpackaged rice will supersede that for packaged rice.
Nestlé India Continues To Increase Sales Share in Noodles

Committed to regaining the lost sales share of ‘Maggi’ in instant noodles, during 2018 Nestlé
India launched new flavours and conducted many promotional activities. Nestlé collaborated
with internet retailing company Flipkart to exclusively launch and sell New Maggi Special Masala
Noodles from 25-31 August, with the new product now being available in all retail stores.
The idea behind the innovative launch is a focus on a new business strategy to aggressively
promote the inclusion of healthier options, as well as better communication and internet
retailing, specifically for all products under the Maggi brand. Also, the four new Maggi flavours
are attached to four different regional flavours, with Amritsari Achari, Mumbaiya Chatak, Super
Chennai and Bengali Jhaal receiving a good response from Maggi lovers across India.
Bambino Agro Industries Challenges International Brands in Pasta

Vermicelli is the most popular pasta type in India, with Bambino Agro Industries leading sales
in this area and being synonymous with taste and culture. This is especially true in south Indian
states, where the brand was the first to offer pasta in India. During 2018, the company launched
a new dried pasta pack format to suit the needs of consumers and new flavours. Bambino has
been facing a lot of competition from international and domestic players, especially health and
wellness variants of pasta like Gustavo and Pure & Sure, which are selling organic and gluten-
free pasta. These health and wellness pastas are slowly eating into the sales share of Bambino
Agro Industries and other leading players in pasta.
Krbl Gains Sales Share in Rice

India Gate basmati is a popular type of rice in India and is used specifically for dishes made
during special occasions and festivals. The brand is synonymous with tradition and heritage,
with the logo of the brand ‘The India Gate’ helping to attract consumers. As a result, India Gate
basmati rice continues to gain sales share. Rice is highly fragmented in India, with the majority
of value and volume share being controlled by unorganised players. Indeed, in the organised
area, there are only 5-10 players with nationwide scale. Promotional activities like media ads,
cooking workshops and other events have helped KRBL stay ahead of other players in rice.
CATEGORY DATA
Table 280 Sales of Rice, Pasta and Noodles by Category: Volume 2013-2018
'000 tonnes
2013 2014 2015 2016 2017 2018
Noodles 388.9 431.0 307.7 368.8 436.2 509.2

- Chilled Noodles - - - - - -
- Frozen Noodles - - - - - -
- Instant Noodles 290.9 327.8 197.7 251.2 309.0 368.3
-- Instant Noodle Cups 1.0 1.1 1.1 1.1 1.1 1.1
-- Instant Noodle Pouches 289.9 326.6 196.7 250.1 307.9 367.2
- Plain Noodles 98.0 103.2 109.9 117.6 127.2 140.9
Pasta 45.5 53.4 60.5 66.7 73.5 81.2
- Chilled Pasta - - - - - -
- Dried Pasta 45.5 53.4 60.5 66.7 73.5 81.2
Rice 1,490.2 1,671.4 1,909.2 2,232.6 2,646.1 3,195.8
Rice, Pasta and Noodles 1,924.6 2,155.8 2,277.3 2,668.1 3,155.8 3,786.1
Table 281 Sales of Rice, Pasta and Noodles by Category: Value 2013-2018
INR million
2013 2014 2015 2016 2017 2018
Noodles 44,311.8 52,954.0 33,015.1 46,933.6 58,851.1 71,890.4

- Instant Noodles 37,809.6 45,561.9 24,434.4 36,805.9 46,895.3 57,722.8
-- Instant Noodle Pouches 37,456.7 45,165.6 24,077.9 36,428.6 46,495.8 57,300.3
- Plain Noodles 6,502.2 7,392.1 8,580.7 10,127.7 11,955.8 14,167.6
Pasta 8,737.5 10,654.7 12,212.0 14,316.0 16,595.4 19,254.3
- Dried Pasta 8,737.5 10,654.7 12,212.0 14,316.0 16,595.4 19,254.3
Rice 136,917.8 163,008.1 196,681.2 244,420.8 303,986.1 378,857.7
Table 282 Sales of Rice, Pasta and Noodles by Category: % Volume Growth 2013-2018
% volume growth
2017/18 2013-18 CAGR 2013/18 Total
Noodles 16.7 5.5 30.9

- Chilled Noodles - - -
- Frozen Noodles - - -
- Instant Noodles 19.2 4.8 26.6
-- Instant Noodle Cups 2.7 1.7 9.0
-- Instant Noodle Pouches 19.2 4.8 26.6
- Plain Noodles 10.7 7.5 43.8
Pasta 10.5 12.3 78.4
- Chilled Pasta - - -
- Dried Pasta 10.5 12.3 78.4

Rice 20.8 16.5 114.4
Rice, Pasta and Noodles 20.0 14.5 96.7
Table 283 Sales of Rice, Pasta and Noodles by Category: % Value Growth 2013-2018

2017/18 2013-18 CAGR 2013/18 Total
Noodles 22.2 10.2 62.2

- Plain Noodles 18.5 16.9 117.9
Pasta 16.0 17.1 120.4
- Dried Pasta 16.0 17.1 120.4
Rice 24.6 22.6 176.7
Table 284 Sales of Instant Noodles by Leading Flavours: Rankings 2013-2018
ranking
2013 2014 2015 2016 2017 2018
Masala 1 1 1 1 1 1
Vegetable 2 2 2 2 2 2
Chicken 3 4 4 3 3 3
Tomato 4 3 3 4 4 4
Table 285 NBO Company Shares of Rice, Pasta and Noodles: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Nestlé India Ltd 12.3 4.8 6.7 6.9 6.8

KRBL Ltd 8.0 9.1 6.3 6.1 6.2
LT Foods Ltd 4.1 4.1 3.9 3.6 3.4
ITC Ltd 3.5 3.9 3.6 3.4 3.3
Bestfoods Ltd 2.5 2.9 3.0 3.0 3.1
Amar Singh Chawal Wala 1.2 1.3 1.3 1.2 1.2
CG Foods India Pvt Ltd 0.3 0.5 0.8 1.0 1.2
SunStar Overseas Ltd 1.0 1.2 1.1 1.0 1.0
Foods India Pvt Ltd
Shakti Bhog Foods Ltd 0.8 0.9 0.8 0.7 0.7
Ltd
Amir Chand Jagdish 0.6 0.6 0.6 0.6 0.6
Kumar (Exports) Ltd
Ltd
Bambino Pasta Food 0.6 0.5 0.6 0.6 0.5
Industries Pvt Ltd
Vegetable Pvt Ltd
Tilda Riceland Pvt Ltd 0.4 0.4 0.4 0.4 0.3
Savorit Ltd 0.5 0.5 0.4 0.4 0.3
Indo Nissin Foods Ltd 0.7 0.2 0.3 0.3 0.3
MTR Foods Pvt Ltd 0.4 0.4 0.3 0.3 0.2
Maruthi Quality Food 0.1 0.1 0.2 0.1 0.1
Products Ltd
United Agro Industries 0.1 0.1 0.1 0.1 0.1
Ruchi Agro Products Pvt 0.1 0.1 0.1 0.1 0.1
Ltd
Bajrang Agro Industries 0.1 0.1 0.0 0.0 0.0
Pvt Ltd
REI Agro Ltd 2.3 6.5 0.6 - -
Licia Macaroni Pvt Ltd 0.0 - - - -
Dunar Foods Ltd - - - - -
Others 54.3 55.7 63.5 65.0 65.8
Total 100.0 100.0 100.0 100.0 100.0
Table 286 LBN Brand Shares of Rice, Pasta and Noodles: % Value 2015-2018
% retail value rsp

Best Basmati Bestfoods Ltd 2.9 3.0 3.0 3.1
(Bestfood Co LLC)
Daawat LT Foods Ltd 1.7 1.6 1.5 1.4
Lal Qilla Amar Singh Chawal Wala 1.3 1.3 1.2 1.2
Wai Wai (Chaudhary CG Foods India Pvt Ltd 0.5 0.8 1.0 1.2
Group)
Hello Basamati SunStar Overseas Ltd 1.2 1.1 1.0 1.0
Kohinoor (McCormick Kohinoor Speciality 1.5 1.1 0.9 0.7
& Co Inc) Foods India Pvt Ltd
Shakti Bhog Shakti Bhog Foods Ltd 0.9 0.8 0.7 0.7
Food Bazaar Pantaloon Retail India 0.6 0.6 0.6 0.6
(Private Label) Ltd
Aeroplane Basamti Amir Chand Jagdish 0.6 0.6 0.6 0.6
Rice Kumar (Exports) Ltd
Ltd
Bambino (Bambino Bambino Pasta Food 0.5 0.6 0.6 0.5
Agro Industries Ltd) Industries Pvt Ltd

Board)
Group)
Savorit Savorit Ltd 0.5 0.4 0.4 0.3
Resham (United Tilda Riceland Pvt Ltd 0.4 0.3 0.3 0.3
Riceland Ltd)
Pazzta (Nestlé SA) Nestlé India Ltd 0.2 0.2 0.3 0.2
Top Ramen (Nissin Indo Nissin Foods Ltd 0.2 0.3 0.2 0.2
Foods Holdings Co
Ltd)
Taii-Paii Maruthi Quality Food 0.1 0.2 0.1 0.1
Products Ltd
Monte Pacific Ltd)
Bluebird United Agro Industries 0.1 0.1 0.1 0.1
Ruchi Pasta (Om Oil Ruchi Agro Products Pvt 0.1 0.1 0.1 0.1
& Flour Mills Ltd) Ltd
Nissin (Nissin Indo Nissin Foods Ltd 0.1 0.1 0.0 0.0
Foods Holdings Co
Ltd)
Cookwell Pasta Bajrang Agro Industries 0.1 0.0 0.0 0.0
Pvt Ltd
(Private Label)
Others Others 61.1 67.7 69.0 69.7
Total Total 100.0 100.0 100.0 100.0
Table 287 NBO Company Shares of Rice: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
KRBL Ltd 11.2 11.2 7.9 7.6 7.7

LT Foods Ltd 5.6 5.0 4.9 4.6 4.2
Bestfoods Ltd 3.5 3.6 3.8 3.8 3.8
Amar Singh Chawal Wala 1.6 1.6 1.6 1.5 1.5
SunStar Overseas Ltd 1.5 1.4 1.3 1.3 1.2
Foods India Pvt Ltd
Shakti Bhog Foods Ltd 1.1 1.1 1.0 0.9 0.8
Ltd
Amir Chand Jagdish 0.8 0.7 0.8 0.7 0.7
Kumar (Exports) Ltd
Vegetable Pvt Ltd
Tilda Riceland Pvt Ltd 0.6 0.6 0.5 0.5 0.4
REI Agro Ltd 3.2 8.0 0.7 - -
Kohinoor Foods Ltd - - - - -

Dunar Foods Ltd - - - - -
Others 66.0 62.4 73.3 75.2 75.9
Total 100.0 100.0 100.0 100.0 100.0
Table 288 LBN Brand Shares of Rice: % Value 2015-2018
% retail value rsp


Best Basmati Bestfoods Ltd 3.6 3.8 3.8 3.8
(Bestfood Co LLC)
Daawat Super LT Foods Ltd 2.0 1.9 1.8 1.7
Basmati Rice
Lal Qilla Basmati Amar Singh Chawal Wala 1.6 1.6 1.5 1.5
Rice
Hello Basamati SunStar Overseas Ltd 1.4 1.3 1.3 1.2
Kohinoor Basmati Kohinoor Speciality 1.8 1.4 1.1 0.9
Rice (McCormick & Foods India Pvt Ltd
Co Inc)
Shakti Bhog Shakti Bhog Foods Ltd 1.1 1.0 0.9 0.8
Food Bazaar Pantaloon Retail India 0.8 0.8 0.8 0.7
(Private Label) Ltd
Aeroplane Basamti Amir Chand Jagdish 0.7 0.8 0.7 0.7
Rice Kumar (Exports) Ltd
Board)
Resham Basmati Rice Tilda Riceland Pvt Ltd 0.5 0.4 0.4 0.3
(United Riceland Ltd)
Dunar Dunar Foods Ltd - - - -
Kohinoor Basmati Rice Kohinoor Foods Ltd - - - -
Hansraj REI Agro Ltd - - - -
Hungama REI Agro Ltd - - - -
Kasauti REI Agro Ltd - - - -
Masti REI Agro Ltd - - - -
Mr Miller REI Agro Ltd - - - -
Real Magic REI Agro Ltd - - - -
(Private Label)
Others Others 69.0 78.7 80.2 80.7
Total Total 100.0 100.0 100.0 100.0
Table 289 NBO Company Shares of Pasta: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018

Ltd

Industries Pvt Ltd
Nestlé India Ltd 7.5 3.2 5.3 5.8 6.1
Savorit Ltd 8.5 8.7 7.5 6.4 5.6
MTR Foods Pvt Ltd 5.4 5.2 4.5 4.0 3.5
Ruchi Agro Products Pvt 1.9 1.9 1.8 1.7 1.6
Ltd
Borges India Pvt Ltd 0.8 0.8 0.9 1.0 1.0
Ltd
Bajrang Agro Industries 1.1 1.0 0.9 0.8 0.7
Pvt Ltd
Victoria Foods Pvt Ltd 0.9 0.8 0.7 0.7 0.6
Licia Macaroni Pvt Ltd - - - - -
R R Oomerbhoy Pvt Ltd - - - - -
Others 46.4 52.7 55.0 57.7 60.2
Total 100.0 100.0 100.0 100.0 100.0
Table 290 LBN Brand Shares of Pasta: % Value 2015-2018
% retail value rsp


Ltd
Pazzta (Nestlé SA) Nestlé India Ltd 3.2 5.3 5.8 6.1
Monte Pacific Ltd)
Ruchi Pasta (Om Oil Ruchi Agro Products Pvt 1.9 1.8 1.7 1.6
& Flour Mills Ltd) Ltd
Borges (Borges Borges India Pvt Ltd 0.8 0.9 1.0 1.0
International Group
SL)
(Private Label) Ltd
Cookwell Pasta Bajrang Agro Industries 1.0 0.9 0.8 0.7
Pvt Ltd
Banchetto Victoria Foods Pvt Ltd 0.8 0.7 0.7 0.6
Borges (Borges Borges India Pvt Ltd - - - -
Mediterranean Group)
Del Monte (Del FieldFresh Foods Pvt Ltd - - - -
Monte Foods Co)
Licia Licia Macaroni Pvt Ltd - - - -
Buitoni (Nestlé SA) Nestlé India Ltd - - - -
Barilla (Barilla R R Oomerbhoy Pvt Ltd - - - -
Holding SpA)
(Private Label)
Others Others 52.7 55.0 57.7 60.2
Total Total 100.0 100.0 100.0 100.0

Table 291 NBO Company Shares of Noodles: % Value 2014-2018
% retail value rsp

Company 2014 2015 2016 2017 2018
Nestlé India Ltd 51.0 33.9 41.8 42.8 42.7

ITC Ltd 15.1 28.6 23.4 22.1 21.4
CG Foods India Pvt Ltd 1.3 3.7 5.2 6.4 7.6
Indo Nissin Foods Ltd 3.0 1.8 2.0 1.8 1.6
Ltd
Industries Pvt Ltd
Maruthi Quality Food 0.6 1.1 1.0 1.0 0.9
Products Ltd
MTR Foods Pvt Ltd 0.5 0.8 0.6 0.5 0.5
Savorit Ltd 0.4 0.8 0.6 0.5 0.4
Prayag Foods Pvt Ltd 0.3 0.4 0.3 0.3 0.3
Sams Food Products Ltd 0.0 0.1 0.0 0.0 0.0
Leong's Food Products 0.0 0.1 0.0 0.0 0.0
Private Label 1.3 1.6 1.7 1.8 1.9
Others 19.0 15.8 13.7 13.5 13.5
Total 100.0 100.0 100.0 100.0 100.0
Table 292 LBN Brand Shares of Noodles: % Value 2015-2018
% retail value rsp

Wai Wai (Chaudhary CG Foods India Pvt Ltd 3.7 5.2 6.4 7.6
Group)
Group)
Ltd
Top Ramen (Nissin Indo Nissin Foods Ltd 1.1 1.6 1.5 1.4
Foods Holdings Co
Ltd)
Taii-Paii Maruthi Quality Food 1.1 1.0 1.0 0.9
Products Ltd
Mom's Choice Prayag Foods Pvt Ltd 0.4 0.3 0.3 0.3
Nissin (Nissin Indo Nissin Foods Ltd 0.6 0.4 0.3 0.2
Foods Holdings Co
Ltd)
Sams Sams Food Products Ltd 0.1 0.0 0.0 0.0
Leong Leong's Food Products 0.1 0.0 0.0 0.0
Private label Private Label 1.6 1.7 1.8 1.9
Others Others 15.8 13.7 13.5 13.5
Total Total 100.0 100.0 100.0 100.0
Table 293 Distribution of Rice, Pasta and Noodles by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 15.3 15.6 15.4 15.6 15.8 15.3
Retailers
--- Hypermarkets 9.0 9.2 9.2 9.3 9.4 9.0
--- Supermarkets 5.3 5.5 5.3 5.4 5.5 5.4
Retailers
specialists
Grocers
--- Other Grocery 0.7 0.7 0.5 0.5 0.5 0.5
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 294 Distribution of Rice by Format: % Value 2013-2018
% retail value rsp
2013 2014 2015 2016 2017 2018

-- Modern Grocery 13.7 13.9 14.0 14.2 14.3 13.6
Retailers
--- Hypermarkets 8.6 8.8 8.9 9.1 9.1 8.7
--- Supermarkets 4.1 4.2 4.2 4.2 4.2 4.1
Retailers
specialists
Grocers
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 295 Distribution of Pasta by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 29.8 30.8 31.6 32.6 33.5 34.6
Retailers
--- Hypermarkets 13.1 13.5 13.8 14.2 14.6 15.1
--- Supermarkets 16.5 17.0 17.5 18.1 18.6 19.2
Retailers
specialists
Grocers
--- Other Grocery 3.4 3.4 3.0 2.9 2.9 2.7
Retailers

Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 296 Distribution of Noodles by Format: % Value 2013-2018
% retail value rsp

2013 2014 2015 2016 2017 2018

-- Modern Grocery 17.3 17.7 18.0 18.2 18.5 18.7
Retailers
--- Hypermarkets 9.5 9.7 9.5 9.2 9.0 8.7
--- Supermarkets 6.9 7.0 7.5 8.0 8.5 9.0
Retailers
specialists
Grocers
--- Other Grocery 2.3 2.4 2.3 2.5 2.4 2.6
Retailers
Grocery Specialists
- Vending - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 297 Forecast Sales of Rice, Pasta and Noodles by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Noodles 509.2 584.8 660.3 732.3 797.1 850.7

- Instant Noodles 368.3 430.4 492.8 552.6 606.3 650.6

-- Instant Noodle Pouches 367.2 429.2 491.7 551.4 605.2 649.5
- Plain Noodles 140.9 154.4 167.5 179.8 190.7 200.1
Pasta 81.2 88.9 96.6 104.2 111.3 117.9
- Dried Pasta 81.2 88.9 96.6 104.2 111.3 117.9
Rice 3,195.8 3,791.3 4,416.1 5,047.8 5,659.2 6,219.6
trade sources
Table 298 Forecast Sales of Rice, Pasta and Noodles by Category: Value 2018-2023
INR million
2018 2019 2020 2021 2022 2023
Noodles 71,890.4 81,903.4 91,138.1 98,980.3 104,849.0 108,250.6

- Instant Noodles 57,722.8 66,194.2 74,064.3 80,798.8 85,886.8 88,890.3
-- Instant Noodle Pouches 57,300.3 65,771.7 73,645.5 80,387.5 85,486.7 88,504.7
- Plain Noodles 14,167.6 15,709.2 17,073.8 18,181.5 18,962.2 19,360.3
Pasta 19,254.3 21,003.5 22,570.0 23,885.4 24,889.3 25,530.5
- Dried Pasta 19,254.3 21,003.5 22,570.0 23,885.4 24,889.3 25,530.5
Rice 378,857.7 440,703.0 501,180.4 556,898.7 604,332.0 640,083.6
trade sources
Table 299 Forecast Sales of Rice, Pasta and Noodles by Category: % Volume Growth
2018-2023
% volume growth
2018/19 2018-23 CAGR 2018/23 Total
Noodles 14.9 10.8 67.1

Pasta 9.6 7.7 45.2
- Dried Pasta 9.6 7.7 45.2
Rice 18.6 14.2 94.6
trade sources
Table 300 Forecast Sales of Rice, Pasta and Noodles by Category: % Value Growth
2018-2023

2018/2019 2018-23 CAGR 2018/23 Total
Noodles 13.9 8.5 50.6

-- Instant Noodle Cups 0.0 -1.8 -8.7
Pasta 9.1 5.8 32.6
- Dried Pasta 9.1 5.8 32.6
Rice 16.3 11.1 69.0
trade sources

Packaged Food in India (Full Market Report) PDF

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Packaged Food in India (Full Market Report) PDF

Uploaded by

Copyright:

Available Formats

PACKAGED FOOD IN INDIA

LIST OF CONTENTS AND TABLES

Table 61 Forecast Sales of Soup by Category: Volume 2018-2023.......................... 45

Table 84 Forecast Sales of Baby Food by Category: Volume 2018-2023................. 59

Table 102 Sales of Cheese by Category: % Value Growth 2013-2018 ....................... 71

Headlines ................................................................................................................................. 114

Prospects ................................................................................................................................. 142

Shift Towards Packaged Food Continues............................................................................. 157

Table 271 Sales of Frozen Processed Poultry by Type: % Value Breakdown

Table 296 Distribution of Noodles by Format: % Value 2013-2018 ........................... 198

PACKAGED FOOD IN INDIA -

Strong Double-digit Growth for Packaged Food

Smaller Pack Sizes Become Increasingly Popular Due To Healthy Living

Competition Intensifies As Manufacturers Fight To Retain Or Gain Share

Modern Grocery Retailers Slowly Gaining Share From Traditional

Significant Opportunities for Packaged Food in the Forecast Period

Cheese reshapes the landscape for foodservice companies in India

Pasta sauces, mayonnaise and salad dressings remain popular

Health and Wellness Influences Consumer Foodservice in Urban

Affordability Coupled With Desire for Experience Drives Consumer

Retailers and Consumer Foodservice Operators Explore and Enter

Packaged Food 5,793.1 6,200.1 6,671.7 7,150.7 7,685.7 8,171.7

Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-

Packaged Food 6.3 7.1 41.1

Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-

Packaged Food 8,171.7 8,655.4 9,119.2 9,555.7 9,959.3 10,388.9

Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume

Packaged Food 5.9 4.9 27.1

2013 2014 2015 2016 2017 2018

Packaged Food 27,750.4 30,211.1 32,938.8 36,131.5 39,845.6 43,933.0

Table 6 Sales of Packaged Food by Category: Value 2013-2018

Packaged Food 2,210.6 2,618.7 3,071.1 3,644.4 4,328.8 5,091.7

Table 7 Sales of Packaged Food by Category: % Volume Growth 2013-2018

Packaged Food 10.3 9.6 58.3

Table 8 Sales of Packaged Food by Category: % Value Growth 2013-2018

% current value growth

Packaged Food 17.6 18.2 130.3

Table 9 GBO Company Shares of Packaged Food: % Value 2014-2018

% retail value rsp

Gujarat Co-operative 5.8 5.8 5.7 5.6 5.5

Mondelez International 2.4 2.2 2.0 1.8 1.7

Table 10 NBO Company Shares of Packaged Food: % Value 2014-2018

% retail value rsp

Gujarat Co-operative 5.8 5.8 5.7 5.6 5.5

Emami Ltd 1.6 1.6 1.7 1.7 1.8

Table 11 LBN Brand Shares of Packaged Food: % Value 2015-2018

% retail value rsp

Amul Gujarat Co-operative 5.4 5.3 5.3 5.2

Nandini Toned Milk Karnataka Cooperative 1.5 1.4 1.4 1.4

Table 12 Penetration of Private Label by Category: % Value 2013-2018

% retail value rsp

Packaged Food 0.5 0.5 0.5 0.5 0.5 0.5

Table 13 Distribution of Packaged Food by Format: % Value 2013-2018

% retail value rsp

Store-Based Retailing 100.0 100.0 100.0 99.8 99.7 99.7

Table 14 Distribution of Packaged Food by Format and Category: % Value 2018

% retail value rsp

Store-Based Retailing 99.9 99.1 99.9 99.9 99.9 96.3

Store-Based Retailing 99.4 100.0 100.0 100.0 99.9 99.6

BC PFV PMS RPN

Store-Based Retailing 99.3 99.3 99.3 99.3

-- Traditional Grocery 58.2 0.0 86.2 84.0

Table 15 Forecast Sales of Packaged Food by Category: Volume 2018-2023