New Delhi, (thestates.news)|Yoga guru Swami Ramdev-led Patanjali Foods on Friday launched 14 new products across various categories including nutraceuticals, health biscuits and millet-based cereals. The company said that the Indian sports nutrition industry is projected to grow at a CAGR of 18% to Rs 8,000 crore by 2028 as the demand for the sports nutrition products surges.
“Tapping this demand, Patanjali Foods introduces the Nutrela Sports with a total of 6 products and 19 SKUs within the range of sports nutrition products,” it said.The company in a statement said that millet is the next step in the super food segment for Nutrela and as part of its strategic plan to expand ‘Nutrela’ into an umbrella brand, it has launched “Nutrela Maxx Millets Ragi Choco Cereal.”
It further said that while the other multi-grain biscuits available in the market are limited to a composition of five grains, Patanjali Foods’ new offering 7-Grain biscuit is a first-of-its-kind product in Indian biscuit markets, where it is packed with goodness of 7 grains – wheat, ragi, bengal gram, jowar, oats, corn and rice. “The health biscuits category in India holds a 5% share in the Indian biscuits market of nearly Rs 45,000 crore. The company, backed by its large manufacturing and distribution infrastructure, has ambitious plans to occupy the 10% share in this category by the end of this year,” the statement said.
Patanjali Foods said that the company has plans to scale its branded dry fruits offerings to a Rs 1000 crore business in the coming 5 years. Earlier known as Ruchi Soya, Patanjali Foods has a strong growth outlook for the next five years. “The company continues to unlock its potential as it has reached its highest-ever revenue of Rs 31,821 crore in FY 2023. With higher-margin businesses like Nutraceuticals and Oil Palm plantations getting stabilized and bearing fruits, the company’s premiumization initiatives will drive its margin growth in the FMCG segment,” it said. (UNI)
Patanjali Foods launches 14 new products, seeks bigger slice of FMCG pie
