Reliance Consumer Products Ltd. has tied up with U.S.-based General Mills Inc. to launch the popular Alan's Bugles in India, marking its foray into the western snacks market, which is currently dominated by PepsiCo Inc. and ITC Ltd.
"With the launch of Alan's, we want to ensure that the aspirational Indian consumer gets to taste and enjoy rich and premium offerings to satiate their snacking needs," a company spokesperson said in a statement on Friday.
The corn chip snack brand will initially be launched in Kerala before it's expanded nationally. The product will be retailed at pocket-friendly price points, starting at Rs 10. It will be available in three flavours—original (salted), tomato, and cheese, according to Reliance Consumer.
The fast-moving consumer goods arm of Reliance Retail Ventures Ltd. intends to actively participate in the growing western snack market, with a greater focus on Indian tastes.
The Rs 72,800 crore savoury snacks market, broadly segmented into western snacks and traditional snacks, is expected to touch Rs 1.18 lakh crore over the next two years, growing at a compound annual growth rate of 13%, according to analytics firm Frost and Sullivan.
The Covid lockdown increased the habit of snacking multifold and is driving the growth of the industry. The trend seems to continue in the Indian market, with Frost and Sullivan estimating the western snacks market size at Rs 38,000 crore.
Western snacks still dominate the organised market, with a 58.3% share in the Indian savoury snacks segment, the analytics firm said.
In the organised space, PepsiCo with Lay's chips and Kurkure, ITC with Bingo, Pratap Snacks Ltd.'s Yellow Diamond, and DFM Food Ltd.'s Crax are the major players with a variety of offerings and easy accessibility.
The Mukesh Ambani-led entity is locking horns with well-entrenched giants in the FMCG industry. The latest launch strengthens Reliance Consumer's versatile consumer goods portfolio. It comprises a wide beverage range under Campa, Sosyo, and Raskik; daily essentials under Independence; confectionery under Toffeeman; biscuits under Maliban; and a home and personal care range under Glimmer and Dozo.
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