Nescafe has a “huge opportunity” for innovation and premiumization in India, as it is one of the fastest-growing markets. This is because cafe culture is evolving, and consumers are now keen to know the source of the coffee and how it is brewed.
Philipp Navratil, Head of the Coffee Strategic Business Unit, at Nestlé, said the company is encouraged by the new coffee culture brewing in India with the opening of new coffee shops. “India is one of the fastest-growing markets for Nescafe and offers a huge opportunity for penetration-led growth, both through in-home and out-of-home consumption,” said Navratil, who is on a visit to India.
According to him, Nescafe has already reached a household penetration of 46 million in India, which is a substantial number. He also said there is a “huge opportunity” to bring Nescafe to the world, making it more affordable to consumers.
“We believe Nescafe is perfectly positioned to introduce the world to coffee; we are more accessible in terms of price per cup. It is also of high quality. We also produce all types of coffee, which is important because consumption is getting more sophisticated,” Navratil said.