Image Source: India TV
Aug 7, 2018
Nestle’s Maggi has accomplished over 60 per cent market share and nearly reached a pre-crisis level in value terms, said a top company official. In sales volume-wise Maggi is still away from the pre-crisis phase at a time when Nestle once used to dominate the Indian market with 75 per cent market share. “We are little over 60 per cent (market share). In business terms, we are almost back to where we were (in terms of pre-crisis). In value terms, we are almost back there,” said Nestle India Chairman and Managing Director Suresh Narayanan.
He further said, “We still have some time to catch up that pre-crisis volume.”
Presently, Maggi contributes around one-third of the total sales of the company.
“Total contribution from the prepared foods (Maggi and Maggi franchise) is about 30 per cent,” said Narayanan.
In 2017, Nestle India had crossed nearly Rs. 10,000-crore sales mark.
Back in June 2015, Maggi Noodles was banned by Food Safety and Standards Authority of India (FSSAI) for five months for allegedly containing lead beyond permissible limits. This compelled Nestle India to withdraw the product from the market till FSSAI gave green signal. The popular noodles brand was back in the market in November 2015.