Recent report places Ruchi Soya in 4th position – ahead of Parle Products, Mondelez India, Nestle India and ITC
Ruchi Soya confident of being the 2nd largest packaged food company by 2020
NewZNew (Chandigarh) : Euro monitor International, a leading global research firm has ranked Ruchi Soya among the ‘Top 5 Packaged Food Companies in India’. A recent report by the leading global research firm places Ruchi Soya in the fourth position in the packaged foods category, ahead of firms such as Parle Products, Mondelez India (formerly Cadbury), Nestle India and ITC; among others.
According to Euromonitor, the Indian packaged foods market stood at Rs. 2,572 billion in 2015, up about 15% from Rs. 2,232 billion in 2014. As per the report, Amul continued to top the packaged foods market with 7.2% retail value share last calendar. Amul was followed by Mother Dairy (2nd position with a market share of 3.70) and Britannia (3rd position with a market share of 3.60). Ruchi Soya followed them closely to occupy the 4th position with a market share of 3.60 in 2015 (up from 3.50 in 2014).
“The report is a testimony of consumer’s trust and increasing popularity of Ruchi Soya’s brands like Nutrela, Sunrich, Mahakosh, Ruchi Gold and Ruchi Star”, said Satendra Aggarwal – Chief Operating Officer, Ruchi Soya Industries Limited.
“Over the last three years our performance has been very good in the packaged food category where we have achieved double digit volume growth. We expect this high growth rate to continue in future as well. By 2020, we are confident that we will be the second largest packaged food company in the country”, Mr. Aggarwal added.
Domestic manufacturers like GCMF, Mother Dairy Fruit & Vegetable, Ruchi Soya Industries and many more dominated packaged food in 2015, whereas international players still have to understand the dynamics of the Indian consumer mind-set observed Euro monitor International in its report.