Britannia Industries recently indicated that it is looking to strengthen its bakery segment by launching new products over the course of the next few months as part of its transformation into a total food company.
The firm is evaluating segments like cereal bar and croissants where it has been absent, according to Varun Berry, managing director at Britannia Industries. To be fair, Berry has done an exceptionally good job of reviving Britannia’s sales by energising its brands and strengthening its product line. So far, the categories it tapped were tried and tested ones where it was sharing the market with its rivals. But now it is extending itself into product lines where even its rivals have encountered limited success.
It is noteworthy that the cereal bar segment has seen a lukewarm reception in India over the last few years. And for the same reason, it remains a highly untapped area with very few biggies playing around. Few brands that have marked their presence in the country include Nature Valley, Horlicks and Patanjali.
Interestingly, cereal bars is a very active segment in western nations with a global market of over $12 billion. The segment carries an image of an energy provider to young working men and women who do not get enough time for th