Taste of India: Desi companies feast on snack market
THE ECONOMIC TIMES
Dec 20, 2016
MUMBAI: Indian consumers seem to have recovered their taste for traditional snacks such as farsan, bhujia and namkeen going by the impressive growth rate of local firms such as Balaji Wafers and Bikanervala at a time when their multinational rivals are struggling.
Local snacking companies such as Balaji Wafers, Prataap Snacks, Bikanervala, Bikaji Foods and DFM FoodsBSE 0.06 % have recorded sales growth of 8-35%, in the year ended March 2016 even as international food majors such as GSK Consumer, PepsiCo's food division and Mondelez struggled to grow their business amid slowing rural demand and discretionary spends.
It's not that the local players'impressive numbers came from a very small base. These five firms have combined sales of nearly Rs 3,700 crore, that is higher than Nestle's Maggi, and a few of these firms are larger than Kellogg's in India.
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