Biscuit and cookies industry in India is growing at a CAGR of 10 percent for the last three years, seeing the underlying opportunity, leading FMCG player, the Bonn Group of Industries expands their biscuit portfolio.
Under their premium Americana range, they have unveiled cracker biscuits in three flavours – Mexican Veggie Cracker, Multi-grain Cracker and Cheese Cracker — in the states of Haryana, Punjab and Delhi NCR.
Crackers, known for its crunchy texture, is the most popular flavour among youngsters. India is considered a potentially huge FMCG market because nearly 50 percent of its population is under the age of 25 years. Gifting and celebratory occasions are a popular trend among consumption favoring online-glued millennial generations. Premium biscuits are the ideal gift for people in this age group and Bonn’s top-shelf Americana range is poised at just the right spot in the market to take advantage.
“The addition of three popular flavours to our product portfolio is one more step in the direction of increasing our sales revenue to Rs 1,000 crore by 2021. It will also help us gain increased penetration in the high biscuit consuming states of Punjab, Haryana and Delhi NCR. Biscuits are the second of our core business products which we intend to incrementally expand with greater value-for-money and innovative output. This will facilitate Bonn’s strategic expansion while assuring the brand remains sustainable in the long run”, said Amrinder Singh, Director, Bonn Group of Industries.
The Americana crackers Mexican Veggie Cracker, Multigrain Cracker and Cheese cracker are available in three different packs – 120 gram, 66 gram and 90 gram packs worth Rs 25, Rs 10 and Rs 10, respectively.
Unlike bread and other bakery products, biscuits in India, are popular both in urban and rural demographics with proportions of those consuming them going up to 94 percent and 83 percent, respectively.
Increasing disposable income, changing lifestyle, growth in organized retail and increasing consumption of processed and packaged food are the main drivers of the industry. The FMCG sector as a whole is the fourth largest sector in the Indian economy and provides employment to around 3 million people accounting for approximately 5 percent of the total factory employment in India.