Tata Soulfull to invest 20-22% revenue on new millet marketing push.
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India's breakfast cereals market is experiencing rapid growth, driven by increasing demand for convenient and nutritious food options. Traditional breakfast dishes, such as Upma, Poha, Dosa, and Idli, remain popular, but cereals are gaining traction, particularly in urban areas.
According to Mordor Intelligence, the Indian breakfast cereals market is expected to achieve a compound annual growth rate (CAGR) of 8.2% over the next five years. This growth is fueled by evolving consumption patterns, a growing urban middle class, and rising disposable incomes. Key players in the market include Kellogg's, Nestlé, PepsiCo, Bagrry's, and Marico.
The Indian government has identified millet as a key crop for national nutrition and food security strategies. Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have emphasized the importance of millets, with 2023 being observed as the International Year of Millets.
Tata Soulfull, a brand under Tata Consumer Products, has launched Tata Soulfull Corn Flakes+, containing 16% Jowar (Sorghum) and available in two flavors. This product aligns with the broader millet movement and industry shift towards promoting indigenous grains. Rasika Prashant, CMO, Tata Soulfull, emphasizes the brand's focus on 'better-for-you' products integrating millets.
Tata Soulfull dedicates 20-22% of its revenue to marketing new products, focusing on retail visibility, digital campaigns, sampling activities, and influencer-driven social media content. The company employs channel-specific pricing and SKU strategies to cater to various shopping behaviors.
Tata Soulfull aims to maintain its impressive 70-90% growth trajectory, capturing significant market share across categories. Future plans include launching a maida-free rusk, engaging younger consumers through activities, and nationwide fitness collaborations.
The brand's long-term objective is to achieve double-digit market share. With its focus on innovation, health-conscious products, and strategic marketing, Tata Soulfull is well-positioned to capitalize on the growing demand for breakfast cereals in India.
According to Mordor Intelligence, the Indian breakfast cereals market is expected to achieve a compound annual growth rate (CAGR) of 8.2% over the next five years. This growth is fueled by evolving consumption patterns, a growing urban middle class, and rising disposable incomes. Key players in the market include Kellogg's, Nestlé, PepsiCo, Bagrry's, and Marico.
The Indian government has identified millet as a key crop for national nutrition and food security strategies. Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have emphasized the importance of millets, with 2023 being observed as the International Year of Millets.
Tata Soulfull, a brand under Tata Consumer Products, has launched Tata Soulfull Corn Flakes+, containing 16% Jowar (Sorghum) and available in two flavors. This product aligns with the broader millet movement and industry shift towards promoting indigenous grains. Rasika Prashant, CMO, Tata Soulfull, emphasizes the brand's focus on 'better-for-you' products integrating millets.
Tata Soulfull dedicates 20-22% of its revenue to marketing new products, focusing on retail visibility, digital campaigns, sampling activities, and influencer-driven social media content. The company employs channel-specific pricing and SKU strategies to cater to various shopping behaviors.
Tata Soulfull aims to maintain its impressive 70-90% growth trajectory, capturing significant market share across categories. Future plans include launching a maida-free rusk, engaging younger consumers through activities, and nationwide fitness collaborations.
The brand's long-term objective is to achieve double-digit market share. With its focus on innovation, health-conscious products, and strategic marketing, Tata Soulfull is well-positioned to capitalize on the growing demand for breakfast cereals in India.