The emergence of Modern Trade and E-commerce has made it easy to be a single product company and has fostered innovation and entrepreneurship. Launching a new FMCG product is no longer the domain of multinationals or big players with financial and distribution muscle. Small and medium enterprises that were previously deterred by the huge capital investments required for distribution networks while launching new products can now easily develop and bring their products to the market in a cost effective manner. This has had a profound effect on the number of launches of innovative products in the market.
Quinoa puffs, butter spreads, health and energy bars, pasta kits, packaged ready to cook idli/ dosa batters, raw juices, water based functional beverages are all excellent examples of new age products built and marketed by small companies being widely accepted by the consumer base. Milk and value-added milk products too are increasing their share and we envision this trend to become stronger in the times to come.
This shift towards fats and proteins from the traditional intake of carbohydrates is the biggest food consumption trend, which cannot be missed. It can also be seen as the reflection of the dietary habits of a younger India. As enablers in the consumer’s shopping journey, recognizing and translating these trends into viable business opportunities remains a key concern for manufacturers and retailers today.