ITC Foods’ is reporting significant gains for Sunfeast biscuits and its packaged foods brand Kitchens of India in their respective markets.
Sunfeast has garnered around 10% share in the urban markets, according to the latest AC Nielsen study. ITC’s volume market share in the biscuits market has gone up by 1.8% to touch 10.1% in June this year as against the same time last year.
“In the April-June quarter for this year, Sunfeast has 10% market share in the urban markets. Urban markets account for 55% of the total biscuit market,” said Ravi Naware, divisional chief executive, ITC Foods. “Our Sunfeast range of biscuits were launched in 2003, so in just four years we have managed to garner 10% market share.” he added.
And it is not just ‘Sunfeast’ that has worked for the company, but also ‘Kitchens of India’, which is a premium ready-to-eat Indian gourmet cuisines. Kitchens of India has emerged as the second highest selling RTE brand in US.
“The highest selling brand in the US is Tasty Bite, which is sold across 3000 stores. In a short period of time, Kitchens of India has become the second largest brand in the international markets. The Indian food market is worth around USD 30 million and is growing at around 150% year-on-year,” Mr Naware added.
Going ahead, ITC Foods will continue to focus on international markets. “We expect to grow our international market by 100%. While Sunfeast is likely to be exported to markets in Russia, US and Middle-East, ‘Kitchens of India’ will be exported to Canada, Germany, Switzerland,” added Mr Naware.