Snapshots of Food Industry News
MTR Makes Investment in Children’s Food Brand Timios
MTR Foods Pvt Ltd. will be investing from out of its Rs.50 crore seed fund for a children’s packaged food brand Timios. Last year the parent company, Orkla Group, set aside Rs.50 MTR Seed Fund to set up food tech-related start-ups in India in 2017 and 2018. The start-ups will also have access to MTR Foods research and discussion team, chefs and other common services and MTR’s mentorship will bring in other advantages of marketing, accounting, and other services. Timios is a brand exclusively for children in the age group of 6 months to 12 years belonging to FirmRoots. MTR is willing to invest in FirmRoots as the company has a range of snacking products that will suit the nutritional needs of children. This space is yet untapped and MTR is seeing it as a strategic move. The funding would be primarily used for development of the Timios brand of children’s nutritional products and for expansion into other geographies.
Manpasand Beverages and Parle Products Partner for Distribution
Manpasand Beverages and Parle Products have been partnering for joint distribution in the eastern markets and the second phase of the joint venture will cover the western markets in India. Manpasand has roped in one lakh Parle outlets in the eastern market and will now shift to the western market beginning with Gujarat. As a part of this strategic tie-up, Manpasand has introduced a new beverage brand “Mango Sip Gold,” which will be available along with “Parle G”. Since both companies are dominant in small and value packs segment, the tie-up is expected to create a formidable synergy.
Manpasand’s strong distribution networks in the rural and semi-urban markets of India will deepen further after the alliance. Parle Products have a strong distribution network across the country and also have a diversified product portfolio that caters to all types of consumers. The partnership will give Manpasand Beverages access to 45 lakh outlets pan-India for their flagship brand “Mango Sip.” The strategy will enable Manpasand to expand faster and Parle views it as a strategy that will provide further growth to their snacking range in the Indian FMCG market.
Truefarm to Market Organic Produce Globally from June 2018
Organic food company Truefarm Foods is all set to enter the global organic market by June 2018. The move comes in after the company has received positive acceptance of products in the domestic market. The venture into the global markets will entail tie-ups with top online retailers, such as Amazon, as well as through physical stores via distribution channels. Truefarm’s fastest selling products are Protein Plus Flour, Organic Muesli, Red Kidney Beans and Organic Amaranth. According to the study, India’s organic food market has the potential to grow more than 25 percent annually to touch $1.36 billion by 2020.
Truefarm will invest $10 million in the next two years. Though presently funded by the four founders, they intend to look for other funding in the coming two years to cover production and development of more organic products. Truefarm sources ingredients from farms in Rajasthan, Madhya Pradesh, Karnataka, and Maharashtra. Some of the crops come from Uttarakhand, Andhra Pradesh, and Odisha while products like Teff, are produced outside India. Awareness about organic products has been significantly increasing over the last three to four years and consumers are also more aware of certification processes, and hence, make careful purchase decisions. Markets in Maharashtra, Gujarat and Andhra Pradesh are giving the maximum response to Truefarm organic products.
Coca-Cola India launches Aquarius Glucocharge and Minute Maid Vitingo
With the launch of Aquarius Glucocharge and Minute Maid Vitingo, Coca-Cola India has made its foray into the enhanced hydration and nutritious dilutables segment. The new products are in line with the company’s endeavor to provide a wide range of beverage choices that have functional benefits across various segments of consumers. Coca-Cola has their focus on offering consumers a wide variety of choices as per their preferences and so will also incubate new products. The launch of these new products also underlines the company’s focus on fruit circular economy.
Priced at an affordable of Rs.10 for a 200ml serving, Aquarius Glucophage has been developed for Indian consumers who need instant rehydration to overcome exhaustion after being in the heat. The non-carbonated, low-sugar beverage with fruit juice is packed with glucose, essential minerals like potassium, sodium, and calcium. Minute Maid Vitingo has been developed keeping in mind the need to address micronutrient deficiency and malnutrition needs of Indian consumers and hence it contains iron, Vitamins A, B2, B12 and C, zinc and folic acid. Regular consumption of Vitingo has been clinically tested to significantly reduce iron deficiency, anemia and Vitamin C deficiency among children. It comes in single serving dilutable sachets of 18g priced at Rs.5 each.
UAEs EMAAR Shows Interest in Investing in Maharashtra’s Food Processing Sector
United Arab Emirates (UAE) based company EMAAR, has shown a keen interest in investing in the Indian food processing sector. The Government of Maharashtra and representatives of the Middle-Eastern firm have had initial-level talks in this regard. EMAAR is likely to take a call on the possible investment soon. The interest has come after the PM’s visit to the UAE as discussions took place on food security issues. In this regard the EMAAR delegation will visit many places, including Mumbai, to assess the opportunities. The Middle-East has low production of food grains, fruits, and vegetables because of the weather and soil conditions. They are, therefore, dependent on other nations for processed foods and are looking to see how well the foods have been processed. A team representing the company arrived in Mumbai from the UAE and will disclose their plans for investment in next 30 days.