In order to gain a larger market share in the thriving Indian biscuit market, said to be worth INR 145,000 million, leading FMCG player, the Bonn Group of Industries expanded its biscuit portfolio by adding a new flavour called Choco-Nut to its premium Americana portfolio today in the states of Haryana, Punjab and Delhi NCR.
Chocolate is the most popular flavour among kids and young adults. India is considered a potentially huge FMCG market because nearly 50% of its population is under the age of 25 years. Gifting and celebratory occasions are a popular trend among consumption favoring online-glued millennial generations. Premium biscuits are the ideal gift for people in this age group and Bonn’s top-shelf Americana range is poised at just the right spot in the market to take advantage. Apart from chocolate, the new flavour is said to contain the “mesmerizing taste of chocolate combined with the goodness of real cashew and almond nuts”.
“The addition of a popular flavour to our product portfolio is one more step in the direction of increasing our sales revenue to INR 1000 crore by 2021. It will also help us gain increased penetration in the high biscuit consuming states of Punjab, Haryana & Delhi NCR. Biscuits are the second of our core business products which we intend to incrementally expand with greater value-for-money and innovative output. This will facilitate Bonn’s strategic expansion while assuring the brand remains sustainable in the long run”, said Mr. Amrinder Singh, Director, Bonn Group of Industries.
The Americana biscuit is available in 75 g packs worth Rs 20. Unlike bread and other bakery products, biscuits in India, are popular both in urban and rural demographies with proportions of those consuming them going up to 94% and 83% respectively. The Americana range was already available in Americana Coconut, Americana Digestive, Americana Healthy Marie, Americana Butter Cookies, Americana XO-XO orange and Americana Tomato tangy flavors.
Increasing disposable income, changing lifestyle, growth in organized retail and increasing consumption of processed and packaged food are the main drivers of the industry. However, increasing tax incidence and rising input costs are the main challenges that the biscuits and cookies industry is currently facing. The FMCG sector as a whole is the fourth largest sector in the Indian economy and provides employment to around 3 million people accounting for approximately 5% of the total factory employment in India.