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Parle agro enters the salted snack market with launch of Hippo
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Thursday, 02 July, 2009, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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 Parle Agro, the maker of popular beverages Frooti and Appy, Bailey packaged water and Mintrox confectioneries, has entered the salted snack market with the launch of Hippo, a baked wheat snack. The company has launched Hippo in five variants - Chinese Manchurian, Hot-n-Sweet Tomato, Thai Chilli, Yoghurt Mint Chutney and Italian Pizza - and the price points are aggressive - Rs 5 for 15 gm and Rs 10 for 38 gm.
Hippo has been positioned differently from chips which are fried and made from potatoes. Targeted at youth, Hippo is made from wheat, is baked and has no MSG (monosodium glutamate), GMO (genetically modified organism), trans fat and cholesterol.
"Snacks will be an important category for us as we look to grow from a Rs 950-crore company now to a Rs 3,500-crore company by the end of 2010-11," says Ms Nadia Chauhan, joint managing director and chief marketing officer, Parle Agro.
The opportunity sure is huge. The branded snack market is estimated at Rs 6,500 crore and is growing at 20-25% per annum. The market has strongly entrenched players like PepsiCo's Frito Lays (Lays, Kurkure and Uncle Chipps) and ITC (Bingo). With Parle Musst Stix and Chips, Parle Products, the Sharad Chauhan-owned company, too will be a rival in this category.
Since it is a different product from the chips variety, a direct rival could be Marico, which had earlier this year, forayed into the snack market with Saffola Zest, a healthy baked snack available in three variants - Chatpatta Masala, Mast Masala and Saucy Tomato - at price points of Rs 10 for 20 gm, Rs 25 for 50 gm and Rs 45 for 100 gm.
"Hippo is just our first brand and we will have more launches in this segment as we plan to become a complete food and beverage player," says T Kanagsabai, general manager, foods division, hinting at the possibility of more snack brands, new price points and variants under Hippo during the course of the year.
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