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“We are poised to hit 30% growth this year”
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Monday, 11 December, 2017, 08 : 00 AM [IST]
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Anurag More, Mumbai
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 Greendot Health Foods Pvt. Ltd (GHFL), known for its brand Cornitos, has its production facility at Roorkee, Haridwar district, Uttarakhand. It is equipped with state-of-the-art processing machinery and is manned by a team committed to quality. GHFL is an ISO-22000, HACCP and Halal certified entity. It also has registrations from FSSAI and US FDA. Vikram Agarwal, director, Greendot Health Foods Pvt. Ltd, in an email interaction with Anurag More, reveals the current scenario in the Indian snacks market and outlook for his company.Excerpts:
What is the size of the savoury snacks market in India and at what rate is it growing?
We can’t comment on the exact size of the savoury snack market in India. It is growing at a fast pace as per industry reports.
What is the outlook for the Indian savoury snacks market?
The Indian snacks market outlook is bright and it continues to be dominated by chips, extruded snacks and traditional namkeen. Another key emerging category is gourmet foods (snacks) which is fast gaining acceptance with consumers.
What is the share of your company in the market?
Cornitos holds major share of nachos market in India. We are poised to hit 30% growth this year.
What impact has Goods and ServicesTax (GST) had on the packaged snacks market?
We absorb the increased costs due to a higher tax rate under GST this translates to a hit of about 4% on our margins.
Do you have any plans to launch new products?
We are planning to add new flavours in nacho crisps range, expand taco shell range, and add premium roasted nuts and seeds in Cornitos pop-n-crunch range along with multi-grain snacks. We have launched under premium healthy snack segment - spinach garlic tacos, beetroot chili tacos and tricolor veggies nachos that are prepared using natural extract of beetroot, white beans and spinach mixed with yellow corn. We have also expanded our pop-n-crunch range, with introduction of 30g travel packs for daily energy needs of roasted pumpkin seeds and premium roasted cashews in crack pepper flavour. We will soon launch premium roasted peanuts. New gift packs launched are 9 Star dip o' treat (9 packs of 30g nachos with dips), nuts delight and nacho fiesta gift packs.
Considering Indians love snacking, do you see healthy snacking as a trend that is here to stay in India?
Cornitos sale has seen a positive growth in the last couple of years due to changing consumer preference for healthy snacking. With new food preferences, the discerning consumer wants to ‘Eat Healthy, Live Healthy’ and enjoys a wholesome, holistic life. Cornitos has complete range of healthy snacks, nachos, pop-n-crunch range which includes premium cashew, almonds, pumpkin seeds, peanuts, coated green peas and tacos. The range offers high protein, high fibre, low fat, high nutrition, gluten- free, non-GMO, no MSG and all natural flavour products to its health-conscious consumers.
Tell us about your expansion plans. How much will you be investing in this regard?
Last year, we ensured full utilisation of our one production line and we've now invested in another line, so we have to fill that gap of expanded capacity. For that we have planned market expansion and regional expansion outside India. Since, we are also focussing on a well-thought out expansion plan, we are expecting steady growth in the coming years as well.
How well do your savoury snacks products do overseas?
While we enjoy our successful presence in India, we are also thrilled to be leaving imprints across the world. The response from international markets has been truly overwhelming so far. It is indeed a feast for a home-grown brand to be stocked alongside international brands and winning prestigious global laurels.
The spicy chilli flavour, Peri Peri, has become an international rage and with this newest offering Cornitos is keen to lure snack lovers into a journey of global taste. From Hot Sizzlin Jalapeno to Sweet Thai Chilli there are 11 exotic flavours that open world market for Cornitos. International flavours like Sizzlin Jalapeno, Cheese and Herbs, Sour Cream and Onion, Peri Peri, Tomato Mexicana and Wasabi are in good demand for exports.
Cornitos products are exported globally to USA, Australia, China, Singapore, the UAE, Saudi Arabia, Maldives, Hong Kong, Nepal, Sri Lanka, Pakistan, Taiwan, and Thailand.
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