There’s a growing trend, especially among millennials and younger, to taste the most exotic fruit…
Snack major Bikano has licensed India’s most popular children’s show character, Chhota Bheem, to bring its range of extruded products to market. The range of products, which includes Ringz, Puffees, Cheese Balls, Pasta Crunch and Jungle Safari, aims to reinforce the company’s presence in the fast growing western snacks market of Rs 16,000 crore where extrudates have seen strong growth and continue to expand 23-25%.
In India, the extruded snacks market is expected to grow at an annual growth rate of over 20 percent through 2024. The main drivers of the rising consumption in the extruded snack categories are the growing youth and young population, rising pro-cita incomes and competitive prices, as well as the introduction of smaller packs. The main customers in the segment are children and young people. Since these extrudate snack options require no preparation or cooking, they can be conveniently eaten at home or taken to school. With the aim of entering this growing market, the company plans to launch its revamped line of extruder products for children ages 3 to 10.
“The character of Chhota Bheem has captured the hearts of children across the country over the years and even worldwide with his unique and fascinating message-driven content. This cooperation will help us to win over children and children to our offer and to encourage them to eat more varied, healthy snacks. Even if we look at Western snacks, it is currently powered by chips; extrude is now a small part of the category. We want to drive growth in this segment as the market is constantly growing. With our new sub-brand ‘Fatax’ we want to deliver the best products and further develop the category in our portfolio, ”said Manish Aggarwal, Director of Bikano.
“Regularly offering new products was also a main focus of our brand. As a result, the new range is expected to bring us sales up to Rs.15 billion this fiscal year, ”added Aggarwal.