Active Stocks
Tue Mar 19 2024 10:01:05
  1. Tata Consultancy Services share price
  2. 4,032.60 -2.71%
  1. Tata Steel share price
  2. 150.00 0.27%
  1. NTPC share price
  2. 313.55 -1.14%
  1. HDFC Bank share price
  2. 1,442.00 -0.29%
  1. ITC share price
  2. 416.40 -0.24%
Business News/ Companies / News/  Maggi regains top spot in noodles market with 57% share in June
BackBack

Maggi regains top spot in noodles market with 57% share in June

In November, when Nestle relaunched Maggi after a five-month ban, it had 10.9% of the market share

In June 2015, FSSAI banned Maggi noodles in India following a Bombay high court order. Photo: BloombergPremium
In June 2015, FSSAI banned Maggi noodles in India following a Bombay high court order. Photo: Bloomberg

New Delhi: Nestle India Ltd’s instant noodle brand Maggi, whose sales were severally hit by the Food Safety and Standards Authority of India (FSSAI) ban last year, has regained its leadership position capturing 57% share of the market in June this year.

Within nine months of its relaunch, Maggi noodles now accounts for 57.1% market share of the instant noodles segment riding on its marketing /branding initiatives and new variants. In November, when the company relaunched Maggi after a five-month ban, it had 10.9% of the market share, which climbed to 35.2% in December, according to a Nestle India presentation made to financial analysts and institutional investors.

In March 2016, it had 51% market share.

Nestle has launched four variants of Maggi Cuppa Noodles and Maggi Hotheads each, the presentation said. Besides, it has also launched ‘No Onion No Garlic" noodles. On 18 August, its parent firm Nestle had said that it has regained leading market share after growth in India turned positive in June on good progress with relaunch of Maggi noodle.

“Growth in India turned positive in June due to good progress with the Maggi noodle relaunch and favourable comparables. We regained a leading market share position. India kept gaining momentum one year after the start of the Maggi noodle withdrawal," Nestle had said in the statement.

In June 2015, FSSAI banned Maggi noodles in India following a Bombay high court order, saying it was “unsafe and hazardous" for consumption after finding lead content beyond the permissible limit. After the five-month ban, in November last year, Nestle India relaunched Maggi noodles in the Indian market. Earlier this year, Nestle India launched up to 25 products across various categories in a day to fend off competition.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Aug 2016, 10:28 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie