Snapshots of Food Industry News
Cadbury Dairy Milk with 30% Less Sugar Launched
Mondelez India, has launched a new Cadbury Dairy Milk bar which has 30% less sugar. Cadbury Dairy Milk 30% Less Sugar is a product with no added artificial sweeteners, colours or preservatives. It has taken almost two years to develop the new product so that it retains the original Cadbury Dairy Milk taste and texture but with 30% less sugar. A dedicated team scientists, nutritionists and chocolatiers have worked at the company’s research and development facilities in India and the UK to bring out this product.
Mondelez is calling it a most significant innovation in the brand’s history in India. Cadbury Dairy Milk 30% Less Sugar will enable consumers to opt for less sugar without compromising on Cadbury’s well-known taste and quality. The new product will be priced at Rs 50 for 43 gm, and will be retailed across modern trade, traditional trade and e-commerce platforms by mid-June.
Rabo Equities to Invest in Agri-food Value Chain
Investment firm Rabo Equities that focuses on agriculture and food expects its second Agri business fund to be deployed by year end. After the launch of its India Agri Business Fund the firm has launched its second fund with a committed capital of USD 150 million. This fund is likely to be deployed in 9 to 10 sub-sectors of the agri-food value chain. Key investments made by Rabo Equities include Cremica Food Industries, Global Gourmet which is a frozen foods maker, Olive Bars & Kitchens, Prabhat Dairy and Nature Bio Foods Ltd which is a subsidiary of LT Foods.
India’s functional food and beverages market is growing, though it is still at a nascent stage. In the next four years this functional foods and beverage market is likely to double with a growth rate of 15 to 20% annually. The Rabo Equity Advisors report mentions functional yoghurts and beverages as well as fortified cereals and edible oils as category drivers of growth. More awareness of health and wellness, natural ingredients as well as convenience foods are being seen as other drivers of growth.
Medlife Launches Roasted Seeds Under Superfoods
Medlife, a fast-growing holistic healthcare platform, has launched a new range of products under the label Medlife Superfoods. These include roasted flaxseeds, watermelon seeds, sunflower seeds, and flax pumpkin seeds, apart from roasted mix seeds. Made with natural ingredients the products and comes with FSSAI certification. Medlife has launched these products as there is a demand for them as a step towards living a healthy life. The different varieties of seeds are handpicked, roasted under controlled conditions, and packaged to provide high-quality superfoods.
A recent survey by Ingredion indicates that most consumers in the Asia-Pacific are not only concerned about the long-term effects of artificial ingredients on their health, but are also aware of every ingredient that goes into their foods. It is these factors that have led to the growth of the superfood market around the world, including in India. There is an increase in the popularity of superfoods because consumers have become health conscious and are willing to try new natural foods. Also, home deliveries are extremely convenient for consumers which is the company’s delivery model through which they cover 25,000 pin codes in 29 states.
TGBL to be Renamed Tata Consumer Products
Tata Global Beverages Ltd is likely to be renamed Tata Consumer Products after the restructuring is completed. The transfer of Tata Chemical’s consumer business to TGBL is likely to take more than a year. Once that is accomplished TGBL will have edible salt, pulses and spices in its product portfolio besides tea. TGBL is also likely to concentrate more on domestic market and are looking at each part of the country carefully. TGBL is looking to attain scale and they cannot do this only through tea so they will increase the FMCG portfolio. Since the company has a large consumer base, they are likely to leverage that for their premium consumer products. Tata Coffee is likely to remain out of TGBL.
WayCool takes over Distribution Operations of Farm Taaza
WayCool Foods & Products PvtLtd. has entered a business transfer agreement with Farm Taaza, a Bengaluru based fresh produce e-commerce enterprise that works with online and offline retailers and other clients. This agreement will enable WayCool to integrate Farm Taaza’s collection and distribution centres, as well as its base of customers in South India into its own supply chain platform, increasing its capacity by an additional 40-45 tons per day.WayCool currently serves a network of around 8,000 clients with 200 tons of food products every day from a base of 35,000 farmers.
WayCool Foods have begun the task of getting the tech and ops teams together so as to seamlessly integrate Farm Taaza’s centres into their IT platform. The move will enable WayCool Foods to increase their procurement base as also their distribution footprint in specific target markets in Telangana and Karnataka.Earlier this year, WayCool had acquired the distribution business of Aalgro Foods, and had taken significant equity stake in M/s Benani Foods Pvt. Ltd., the promoters of Freshey’s ready-to-cook products.
Milkbasket to Invest Rs 10 Crore to Scale up Business
Grocery delivery start-up, Milk basket will invest Rs 10 crore to scale up its fresh fruits and vegetable category. The company aims to set-up 10 more collection centres in villages to promote right farming practices for better quality yield, maintain the cold chain to mitigate the food wastage and preserve the nutritional value of produce. As a first step, Milkbasket has partnered with multiple hydroponic farms to ensure 100 percent pesticide-free produce for its customers. Direct farm sourcing along with direct sales to consumers is cost effect for the company. Milkbasket could also get into contract farming as they see it as being beneficial for both the stakeholders. The present investment decision comes on the heels of the success of Bakhtawarpur centre in Delhi which receives fresh produce from over 20 villages around the city. Milkbasket has now shortlisted villages in Bangalore, Hyderabad, Nasik, Haryana, Himachal Pradesh and Uttar Pradesh for the next phase. Additionally, the company has tied up with multiple farmers producerorganisations (FPOs) across the country to source directly from states like Bihar, Himachal Pradesh, Uttar Pradesh and Gujarat.Currently, fresh fruits and vegetable category contributes to over 25 percent Milkbasket’s sales and the company aims to grow this category by at least 1.5 times over the next 12 months.