Marico enters cereal market with Saffola Oats
A new product called ‘Saffola Oats’ would soon be launched
July 05, 2010 | comments ( 0 ) |
A new product called ‘Saffola Oats’ would soon be launched in the breakfast cereal market in India. The total market worth of the breakfast cereal is Rs 500 crore and it is reported the new entrant would come in Marico, the fast moving consumer goods company.
The product, Saffola Oats, has been soft-launched in about 12 cities, say sources. When asked, Saugata Gupta, chief executive officer, consumer products division, confirmed the test runs. He declined to give details, saying this would be on for at least six months. “It has to meet action standards,” he says.
Though the market of oats is small Rs 120 cr and is surging at 25% yearly. The other major players in this category include PepsiCo’s Quaker Oats and India-based players such as Bagrry’s.
Kellogg’s is the dominant player in corn flakes, with an over 70 per cent share. There are regional players such as Mohan Meakin, with its Mohan brand in the north, and private retailers such as the Future Group with its Tasty Treat cornflakes.
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