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Ruchi Soya forays into RTC space; Launches Nutrela chunks, ready mixes
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Saturday, 28 June, 2014, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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fiogf49gjkf0d Ruchi Soya Industries Ltd, a Rs 30,000-crore fast-moving consumer goods (FMCG) company and one of the largest manufacturers of healthy cooking oils and soy foods in the country, announced its foray into the ready-to-cook (RTC) category.
The new products launched under the company’s flagship brand Nutrela would include Nutrela Instant Soya (the world’s first instant soya) and Nutrela Ready Mixes (the world’s first soy snack and sweet mixes).
These would further help the company to strengthen its offerings. With this product innovation strategy, the company is confident that Nutrela would further reinforce its leadership position in the soy category and capture a ten per cent share of the Indian ready-to-cook market by 2019.
Launched over two deacades ago, Nutrela has garnered market leadership in various FMCG categories. It has carved an enviable niche - that of being a brand that promises nutrition through innovative product offerings.
Nutrela has always been ahead of its times and peers. It launched soy foods at a time when the segment was non-existent. Today, it is synonymous with health and nutrition, and commands a formidable market share and substantial brand equity within its segment.
Being one of the most preferred brands in the country, Nutrela has always played the role of a torchbearer when it comes to highlighting the health benefits of soy to its loyal customers.
As far as the nutrients are concerned, Nutrela Soya Food provides you with more than double the benefits of proteins when compared to other foods such as meat, eggs, wheat and milk thereby making it a perfect solution for all your health and protein requirements.
The company is all set to use its existing pan-India retail network to drive its sales. Being the market leader in the cooking oil category, Ruchi Soya has an unmatched retail penetration of more than seven lakh retail outlets across 5,000 towns.
Encashing consumer insights, Nutrela coined the slogans Be a Faster Chef for its instant soy chunks and Super Jaldi Super Healthy for its ready mixes.
The RTC market in India has been growing fast owing to the rising income levels, the changing food habits and a growing need for convenience among Indian consumers.
It is estimated to be worth about Rs 500 crore, and is growing in double digits year-on-year (the volume growth is currently about 20 per cent, and the value growth is about 25 per cent).
It is expected to grow at a compound annual growth rate (CAGR) of around 20-25 per cent over the next five years.
Commenting on the new line of business, Dinesh Shahra, founder and managing director, Ruchi Soya Industries Limited, said, “Brands would be the growth driver in the years to come for the company.”
“We have entered into ready-to-cook business, with an aim to build a healthier India and provide consumers a perfect balance between health and taste. Ruchi Soya wants to be a major player in this segment, which is valued at Rs 500 crore,” he added.
“We are number one in the soy food and cooking oil categories, and our target would be the same for the new segment as well. With this new line of businesses and launches, we expect our flagship brand, Nutrela, to generate Rs 2,000 crore over the next five years,” Dinesh Shahra stated.
Sarvesh Shahra, business head, consumer brands division, Ruchi Soya Industries Limited, said, “Nutrela offers a healthier option for every eating opportunity and provides a platform that creates a sense of healthy rhythm in our otherwise busy lives.”
“Nutrela has been built as a stable and predictable partner in health and sustenance, wrapped up in a tasty package. Our aim is to grow this platform and meet consumer needs, which would allow us to be present on every consumption occasion,” he added.
“We have planned to invest around Rs 20 crore in this new business. The investments are primarily being made to make these products accessible to our consumers, make the comsumers aware of them and create taste trials among our desired target consumers,” added Sarvesh Shahra.
Ruchi Soya’s entry into the RTC food segment comes at a time when the sector is emerging and growing extensively.
A fast-paced urban lifestyle, increasing prevalence of a nuclear family structure, rising disposable income and rising number of globetrotting Indians who are willing to experiment with food, are factors encouraging the adoption of RTC foods in India.
Further, the growth of modern retail has provided unmatched brand and category visibility and promotion opportunities to convenience foods. Technological advancements in packaging and flavour science have also aided in the development of such innovative products which are now at the centre-stage among urban Indians.
Nutrela Instant Soya and Nutrela Ready Mixes are prepared out of soy, and are healthy and tasty.
Nutrela Instant Soya is the world’s first and one-of-a-kind soya meal that makes cooking easy and a protein-rich meal ready in just minutes, whereas Nutrela Instant Mixes is the world’s first soya offering that provides options for both sweet and healthy snacks.
Sandipan Ghosh, assistant vice-president, marketing, consumer brands division, Ruchi Soya Industries Limited said, “Nutrela believes that by offering a healthier option for every eating occasion can provide every consumer with the opportunity to adjust and sync in to their own healthy eating rhythm, which is sustainable and naturally fits with their lifestyle.”
“The foray into the new category is with a vision to offer instant food, which is not only quick and convenient to make but also healthy and nutritious,” he added.
Nutrela Instant Soya is available in a 180g pack priced at Rs 50. On the other hand, Nutrela Soya Snack Mixes are available in three variants (Soya Upma, Soya Khaman and Soya Dhokla) in 180g packs priced at Rs 40, whereas Nutrela Soya Ready Sweet Mix (Soya Kheer) is available at Rs 50 per 180g pack.
Nutrela Instant Soya has been launched in Delhi and the National Capital Region (NCR), Mumbai and Bengaluru, and would soon be made available across top 20 cities in India, whereas Nutrela Soya Ready Mixes have been launched in Delhi, the NCR and Mumbai, and within a couple of months, would be made available throughout India.
These products are available across all grocers and modern retail chains, supermarkets and standalone self-service stores.
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