Fruit juice concentrate maker Rasna said it is eyeing a revenue of Rs 250 crore in the next three years from the snack category.
“We are looking at 5 per cent market share of a Rs 5,000 crore market that is growing at 15-16 per cent in the next three years. We are looking at Rs 250 crore from this category in the next three years,” Chairman and Managing Director, Rasna, Piruz Khambatta was quoted by PTI as saying.
According to a PTI report: Rasna, which has presence in the sweet snack category with its brand Vitos, is also planning to launch to introduce ethnic snacks and western snacks.
The company has invested Rs 100 crore so far on Vitos and plans to export the snack brand to the neighbouring countries this year.
“We are looking at taking it to the neighbouring countries. Mostly we will be starting our distribution in Nepal, Bangladesh, Sri Lanka this year,” he was quoted by PTI as saying.
With a footprint across 53 countries, exports contribute to 30 per cent of the company’s sales, driven largely by Middle East.
The privately-held company is eyeing acquisitions in the nutraceutical space.
“One big market which exists, where India’s strength is the nutraceutical market. We can use some of those nutraceuticals to fortify our food. I would be wanting to acquire companies who have knowledge in these products. There is a lot of action in this space in India and abroad,” he was quoted by PTI as saying.
Rasna, which enjoys an 85 per cent market share in the Rs 1,000 crore powdered drink space, has earmarked a marketing budget of Rs 22-25 crore for its summer campaign (January to July), with 10 per cent allocated for digital marketing.