While the Indian instant noodle market is getting hot, Marico gets in with Saffola Oodles

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FMCG major Marico Ltd is entering the instant noodle segment with the launch of Saffola Ooodles, the company announced on Friday. So Marico takes on Nestlé and ITC, the dominant players in the segment.

Saffola Ooodles does not contain maida or artificial preservatives, Marico said in a statement. This is in line with the company’s focus on strengthening its position in the healthy, ready-to-cook snacks category and increasing its demographic relevance, it added.

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India is the fourth largest instant noodle market in the Asia-Pacific region with a market share of 3-4 percent. The segment in India had total sales of $ 1,040.4 million in 2019 and is expected to grow at a CAGR of around 5.6 percent to $ 1,293.7 million in 2023.

Saffola Oodles is available on major e-commerce platforms such as Saffola Stores, Amazon, BigBasket, Grofers and Flipkart. It is available in two SKUs – a single pack of 46 g for 20 and a multipack (four pack) of 184 g for 80.

Since the launch of Saffola Masala Oats, Saffola has become a mainstay in the ready-to-eat snack market in India, said Koshy George, Marico’s chief marketing officer. “We are once again committed to healthy food narration and have launched Saffola Ooodles in the instant noodles category. Made from whole grain oats, Saffola Oodles comes in a delicious masala flavor and contains neither maida nor artificial preservatives. This new market launch is intended to meet the increasing consumer demand for healthier snacks that are deliciously delicious at the same time. “

“The consumption of instant noodles in India has increased by 5-6 percent. A young population, convenience, on-the-go consumption and growing consumer adoption in smaller cities have made it a lucrative category for the big players, ”said Rajat Wahi, Partner, Deloitte India Business line. The lockdown caused by a pandemic also accelerated instant noodle sales as people stock up on groceries, convenience, easy availability and long shelf life, he added.

“As a result, all established players recorded an increase in sales that is expected to continue in the coming years. The country’s food segment is highly fragmented due to regional tastes, purchasing power, age groups and trade channels, and brands have to adapt their products to the needs of this fragmented market. In addition, as consumers become more health conscious, companies are researching new and innovative healthy varieties of instant noodles such as gluten-free, air-fried, sun-dried, etc. to gain market share, ”said Wahi.

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