TagZ Foods, a Bengaluru-based snack company, plans to expand into the handcrafted chocolates and hemp cookies markets, with revenues expected to more than double during the current fiscal year.
This snack company, popular for its potato chips, has also lately launched gourmet dips and premium bar snacks, as part of its larger strategy of tapping the packaged snacking market worth over Rs 35,000 crore.
According to Anish Basu Roy, founder of TagZ Foods, India’s GenZ consumers have little choice between fried fatty potato chips and boring health bars. That is why they have launched popped potato chips with 50% less fat—the fittest potato chips that you can find.
The company has raised about $1 million so far from Venture Catalysts, Dexter Angels, Agility Ventures, and angels such as Umang Bedi, Arjun Vaidya, and Mohanlal Menon. The company said it had sold over 35 lakh units of potato chips since its launch in 2019 and nearly 40% of its sales had come from repeat customers.
Furthermore, TagZ is looking to compete in the four largest categories of indulgent snacking – chips, dips, chocolates, and cookies – with fitter and eco-friendly options. Packaged salty snacks and biscuits are an over 65,000-crore market, and two of the largest categories within India’s fast moving consumer goods basket.
While Indians prioritised snacks over meals over the past year, three-fourths of Indians have relied on snacks for nourishment, and a majority of them are actively seeking snacks that are high in protein and vitamin rich.