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Business News/ Companies / News/  Marico expands Saffola brand into ready-to-eat snacks
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Marico expands Saffola brand into ready-to-eat snacks

Marico’s new range under the Saffola Munchiez brand will compete with various other snacking brands in the market, including those sold by ITC and PepsiCo.

Marico sells fast moving consume goods under Parachute, Saffola, Hair & Care, Nihar Naturals, Mediker, Revive, Set Wet, Livon, Just Herbs, True Elements and Beardo. (Mint)Premium
Marico sells fast moving consume goods under Parachute, Saffola, Hair & Care, Nihar Naturals, Mediker, Revive, Set Wet, Livon, Just Herbs, True Elements and Beardo. (Mint)

New Delhi: Packaged consumer goods company Marico Limited has expanded its range of packaged foods with the launch of ready-to-eat snacks, the company said on Tuesday.

The new range under the Saffola Munchiez brand will compete with various other snacking brands in the market, including those sold by ITC Ltd., and PepsiCo.

The launches include Saffola Munchiez Ragi Chips and Saffola Munchiez Roasted Makhana in various flavours. Both the products are currently available in general trade stores and will soon be available across modern trade and e-commerce platforms, the company said in its statement.

Marico executives said they have seen emerging demand for healthier snacking options in the packaged snacks segment. The company’s entry into the ready-to-eat snack category will further strengthen its foothold in the healthy and premium foods segment.

Marico has earlier indicated that is the food franchise is set to reach revenues of 650 crore in FY23 and 850 crore to 1,000 crore in FY24.

In line with these targets Marico has been extending its core Saffola edible oil brand to several other categories within foods such as oats, instant noodles, honey, spreads, soya nuggets etc. The entry into ready-to-eat snacks is in line to increase the footprint of its foods business.

“With Saffola Munchiez, we aim to address the rising trend of conscious indulgence among today’s modern consumers. We observed that increasing number of consumers are preferring branded snacks over unpackaged snacks range," said Sanjay Mishra, Chief Operating Officer (COO), India Business and Chief Executive Officer (CEO), new business, Marico Limited.

Mishra said Saffola Munchiez will address the need for an on-the-go healthier snacking options that are better for our diverse consumer base.

Marico sells fast moving consume goods under Parachute, Saffola, Hair & Care, Nihar Naturals, Mediker, Revive, Set Wet, Livon, Just Herbs, True Elements and Beardo.

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Published: 03 Jan 2023, 01:31 PM IST
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