Kraft Heinz India, which is aiming to double its topline by 2021, is planning to introduce global brand 'Planters' in the country besides evaluating contemporary India-specific brands for its new line of nutritional products.
"We are looking at new products in 2018. Concentrated nutritional products which are easy to move with but may or may not be biscuits, are on the radar. We are also evaluating new nutritional products for elderly and teenagers," Kraft Heinz India managing director Niladri Deb said here today.
He was in the city to introduce 'New Best ever Complan' and said the company will spend Rs 100 crore in six months to reinforce its ground in the malt-based foods market.
Deb said the company, which is popular for its products Complan, Glucon D and Nycil brands, will introduce its billion dollar global brand 'Planters' - a snacking brand of nuts in the country, but declined to divulge any timeframe.
Deb said, currently Complan contributes for about 40 per cent of its Rs 700 crore revenue generation in the country. Glucon D generates another Rs 700 crore and 11 per cent is contributed by powder brand Nycil.
With the fresh boost, Kraft Heinz will turn Complan into a Rs 1600-1700 crore brand in the next three to four years despite the fact that malt-based food category is under pressure.
"We want to grow Complan by two and half times by 2021. However, the category (malt-based food) is facing just three to four per cent growth. We are trying to figure out the reasons," Deb said.
Speaking about concentrated nutrition products, he said, "We don't want to be another biscuit company. We will evaluate all options."
Malt-based food category is a Rs 5500 crore market in India and is growing at three to four per cent recently against the double digit growth it achieved just three years earlier.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)