New Delhi: ITC Ltd's plans for 2008 include an enhanced focus on health and wellness-oriented products within the food brands it established over the past year and before.
ITC's brands including Sunfeast, Kitchens of India and Bingo are going to now be accompanied by health, wellness and nutrition-based brands. Additionally, the existing brands will most likely see expanded product lines that encompass products cognisant of current market trends.
According to company sources, three primary growth drivers for the packaged food segment in the country include aspirational products featuring branding and quality assurance, urbanised convenience foods covering ready-to-cook and ready-to-eat products, and health and wellness products that aim to address the market created by contemporary hectic lifestyles.
Under the Sunfeast brand, for example, ITC plans to bring out the Bennevita Flax Seed biscuits, which has ingredients that claim to lower cholesterol levels and maintain gut health. The company is also reported to be all set for launching sugar-sprinkled biscuits within nutrition-based product offerings shortly.
The company is reportedly also planning to extend its focus on health and wellness oriented products to its ready-to-eat and-cook segments.
Industry analysts indicate that ITC's product portfolio spans segments and categories, and has the potential to impact other players such as Hindustan Unilever, which would now be under pressure to get its act together for these segments. ITC is also reported to be displaying growth rates healthier than that of the industry. Reports say that in the Rs70,000 crore FMCG industry, the biggest piece of the pie of around 22 per cent is accounted for by food. Clearly, no FMCG player can afford a misstep in the segment.
Other of ITC's health and wellness products include the Sunfeast Sachin's Fit Kit, Sunfeast Milky Magic and Sunfeast Pasta Treat.