Feb 19, 2021
Nestlé’s Maggi instant noodles will soon see one more contender- Marico.
As a part of its marketing strategy, Marico plans to expand its portfolio and is stepping in with the launch of ring-shaped instant noodles made from wholegrain oats and vegetables. Marico has introduced a range of products full of health and wellness under the Saffola Brand viz.. Honey, Milk mix, Chyawanprash, and Soya chunks.
The Company said the launch of instant noodles will strengthen its foothold in the healthy, ready-to-eat snacking category along by maintaining the health criteria of the principal brand.
“Since the launch of Saffola Masala Oats, Saffola has become a mainstay in the ready-to-eat snacking market in India, “said Koshy George, Chief Marketing Officer at Marico. “This new launch seeks to meet the rising consumer need for healthier snacking options”.
However, Market Analysts are of a different opinion. They analyze that Saffola will have to struggle hard to make a significant difference in the country’s Rs.5,000 crore instant noodle market where Nestle Maggi dominates about three-fourth share of the market, and rest shared by ITC’s Yippee, HUL’s Knorr, Wai Wai, and Capital Foods, Smith & Jones. Saffola Oodles will a stiff competition.
“Unlike oats, noodles are a difficult market to crack, and Marico‘s product will not be very different to make meaningful disruption in the segment,” said Abneesh Roy senior VP at Edelweiss Securities.
Noodle Market share: Nestle is 65-70%, ITC Sunfeast Yippee 22-25%.