The leading Indian FMCG company, Ruchi Soya Industries (Ruchi Soya) has marked its foray into the ready-to-cook (RTC) food category under its flagship brand Nutrela. The new RTC product range offers instant soya chunks and instant ready mixes in four variants, soya upma, soya khaman, soya dhokla and soya kheer.
Ruchi Soya is a Rs 30,000 crore company and with this launch, the company aims to strengthen its position in the soya segment and capture a market share of 10 percent by 2019 in the Rs 500 crore RTC category. The constantly evolving RTC market in India is growing at 20 percent in volumes and 25 percent in value annually. This is expected to grow at a CAGR of around 20-25 percent over the next five years.
Dinesh Shahra, Founder & Managing Director, Ruchi Soya, says “We have entered into RTC business with an aim to provide consumers a perfect balance between health and taste. With this new line of products, we expect our flagship brand Nutrela to generate Rs 2000 crore over the next five years.”
Sarvesh Shahra, Business Head, Consumer Brands Division at Ruchi Soya, comments, “We have planned to invest Rs 20 crore in this new business. The investments are primarily being made to make these products accessible to our consumers and make them aware as well.”
Nutrela’s RTC product range is available in 180 gm packs. The instant soya chunk, which is initially available in Delhi, Mumbai and Bangalore is priced at Rs 50. Nutrela instant savoury snack mixes are priced at Rs 40 and sweet kheer mix is for Rs 50. These instant mixes have been primarily been launched in Mumbai and Delhi market.
The new product launch will be supported with high decibel marketing and promotions.