The FMCG ready to eat market will now see an all new entry in the market as the major Britannia, known for biscuits and other confectionaries will now be entering this market too.
The company made this announcement on Thursday and also mentioned that they will be entering the market with a complete range of healthy breakfast mixes of upmas, pohas, porridges and oats.
The market is still at a very nascent stage and values just around Rs. 148 crore and is growing at a CAGR of 15 per cent driven by a fast-paced urban lifestyle.
Increasing importance and advent of nuclear family structure, increasing disposable income, larger number of westernized Indians with an experimenting palate are other factors that are governing the rise in the market size of the segment.
The company will be competing directly with MTR, Gits, ITC, Bambino and Kohinoor Foods. All the competitive brands have developed a great impact on consumer but given the brand name Britannia it will be not very tough for the company to enter the households.