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New Delhi, March 24 The steadily growing rate of penetration of chocolates in Indian households, currently only under seven per cent, is promising huge opportunities to companies such as Nestle India. The Swiss food and beverage major says it is “innovating and renovating” core brands to outgrow the market.

“There is great potential given the low penetration in the category. The growth of chocolates category last year, according to industry estimates, was at 23 per cent. We grew ahead of that figure and are pleased that we have gained market share,” said Mr Stewart Dryburgh, General Manager (Chocolate and Confectionery).

The company, on Monday, launched two new products under its Kit Kat brand. While the Kit Kat Mini, priced at Rs 2, follows the similarly priced Munch version into rural markets, Kit Kat Chunky will allow customers controlled indulgence. The chocolate comes in three portions of 64 calories each, in line with Nestle’s focus on nutrition, wellness and fitness and the increasing health consciousness amongst the urban population. When asked if the company was planning to introduce energy bars in India, Mr Dryburgh said, “We are not seeking to add an energy bar to our portfolio currently. However, we are always reviewing our opportunities.” Globally, the company owns the more than 20-years-old sports nutrition brand PowerBar.

The company is focussed on growing its market share through renovation and innovation of its existing brands in India. Last year, it launched Munch Choc Pop, wafer cubes covered in chocolate. “Our distribution reach is the largest in the category and we are building on that. The Munch brand alone reaches over a million retail outlets,” said Mr Dryburgh.

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