Biscuits and confectionary major Parle Products is betting big on the snacks segment
for its higher growth trajectory, aiming at more than 25 per cent market share by March 2014.
"We are betting big and putting all our efforts behind snacks segment. It will largely add to our growth in top line (net income) and also bottom line (profit)," Parle Products group product manager B. Krishna Rao said.
"We are aiming at above 25 per cent market share in two years time," Rao said.
He informed the company - India's largest biscuit maker
with 45 per cent market share - had a paltry 8 per cent market share in the snacks segment.
The Rs 7,500-crore Indian snacks industry is growing at a rate of about 20 per cent annually.
The Mumbai-based company presently has brands like Wafers, Full Toss and Namkeen into its snacks portfolio.
"We have just opened up Namkeen in Madhya Pradesh, Chhattisgarh and Maharashtra for testing the markets. By March next year the brand will be national," Rao informed.
"We also expect one per cent increase in market share in both biscuit and confectionary segments next fiscal," he added.
The company presently has 17 per cent market share in confectionary segment.