Speaking on the newly established partnership with Haldiram in India, Nutrition Food brand FutureLife Managing Director Mark Bunn said that South Africa and India have a lot in common in terms of natural beauty and pleasant food. For now, however, his focus is on keeping Indians healthy. South Africa FutureLife and Indian snacks and restaurant company Haldirams announced a joint venture in February to launch a former nutritional range in the country.
Haldiram noted that the JV reflects the growing commitment of the younger generation of Indians to health and nutrition and its willingness to include non-traditional food in its diet. Bun agreed that this traction towards healthy products has accelerated FutureLife’s movement into the country with a partner who understands food, Indian palate, collection and distribution. “We really understand nutrition. So this is a great partnership, ”he said.
The company has already launched its oats, granola bar and high protein products in marketplaces such as Big Basket, Milk Basket and Amazon. To be sure, Haldirams is not the only company expanding its portfolio to cover health foods. In February, Tata Consumer Products Ltd announced its acquisition of a 100% stake in Kottaram Agro Foods, which makes Soluble brand breakfast cereals and millet based snacks.
Wipro Consumer Care Ventures, the venture capital arm of Wipro Consumer Care and Lighting, has also put money behind the Health and Nutrition Products brand Onelife, launched in 2013. Over the past few months, Marico Ltd has also focused on its health and immunity portfolio by entering the chavanవాprash and honey categories. These developments indicate interest in the health food sector for legacy companies.
While consumers are seriously focused on better nutrition to boost immunity, health food companies are a hot pick during Kovid, say experts in the fast-moving consumer goods sector. As consumers turn to health snacks and boost immunity, the appetite of companies to invest in such companies and products is increasing.
Legacy companies are taking the acquisition route to enter the category as some of these products are high tech. “You need technology to make nutrition-based food. There is a science behind this,” said EY Pinakiranjan Mishra, partner and national leader, consumer products and retail.
Amit Adarkar, Chief Executive Officer, Research Institute, Ipsos India, agreed: “The technology and research offered by international health food organizations are crucial for Indian companies developing and owning health proposals.”
Companies are in a hurry as increased deals recognize that the health food trend is right here. “All our surveys have shown that the health agenda is very critical,” Mishra said. When the pandemic hit, companies that did not have an omni-channel sales strategy suffered. These companies do not want to lose the bus in the nutritional trend, added.
Adarkar agreed that in the aftermath of the epidemic, the country would increase consumer interest in health and care products and especially health foods. “Traditionally health foods have had a niche appeal, partly because of the‘ low taste ’awareness and somewhat connected due to the premium price,” he said. After the epidemic, three things changed. First, prevention health consciousness and immunity boosting have become more mainstream Second, as purchasing baskets have changed, the tendency to experiment with food during and after lockdown has increased. And third, the growing e-commerce adoption has led to awareness and inquiry on health foods, which may not enjoy prime shelf space as a normal trade, he explained.
“We are approaching a stage where a large or mass food maker cannot ignore this high-growth segment, especially if we want to win in the top metros,” he added.
With Haldiram, Bunn said Future Life is looking forward to providing healthy and nutritious food to Indians. The long-term goal is to keep its food on their menu.
He said that FutureLife Cereals has published a clinical study that will improve the immunity and vitality of the people. With EY’s Mishra with all these deals and their fetish for health foods, companies will eventually have to show results. “They need to be more clear than just the marketing plank,” he says.
Shuchi Bansal Mint Media, Marketing and Advertising Editor. The general post looks at issues related to these three. Or fun things