Nestle India to Introduce More Global Products Into Domestic Market
Nestle India is now looking to introduce products from the parent's global portfolio into the domestic market, according to an Axis Capital report.
Nestle's noodles and baby food segments will not be enough to maintain its sales growth of 15 percent, the report adds. This is due to the slower pace of growth of noodles and baby food categories, especially given the fall in Maggi's market share.
Apart from launching 20-25 new products in the existing categories from India in the near term, the company is also looking to introduce some of its global product categories like Pet Care, Nespresso and products from the ‘Health LifeSciences' business.
The company currently sells two proprietary products in the health and nutrition space in India - ‘Resource'and ‘Peptamen' - through doctors and hospitals.
However, Axis Capital believes Maggi will remain a core product for thecompany. It has released newflavours to include a larger consumer segment, particularly the youth.
Nestle recently launched four variations of Maggi Hot Headsalong with Grekyo yoghurt.
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