The relaunch of Marie biscuit as a healthy and tasty offering by ITC recently has not taken away the spotlight from cream biscuits and cookies for the company. With the latter category growing at a healthy 18 per cent annually, ITC is keen to straddle plain biscuits as well as cookies.

“As a category, cream biscuits have been growing significantly over the past three-four years. Cream biscuits and cookies are part of the creation, adding to growth. It is a very unique offering and a very buoyant market,'' said Chitranjan Dar, CEO, ITC Foods Division.

Current industry size

With the current size of the biscuit industry estimated at ₹12,805 crore, and expected to grow at a compounded annual growth rate of 8 per cent over the next three years, ITC is eager to tap the market for cream biscuit and cookie lovers.

Capitalising on the premium offering, which has shown brisk sales, Dar said: “Indian consumers are very price and value conscious, and given that, we would like to be present at various price points.'' Stating that three years ago, a pack of glucose biscuit was available at ₹2, Dar said ITC moved it to ₹5.

“I am not ashamed about a ₹5 offering. We have cream biscuits in the ₹12-25 range.

We need to offer value at every stage,” said the chief executive.

According to market research firm Technopak Advisors, the convenience foods sector is expected to grow at a compounded annual growth rate of 12 per cent over the next five years, with biscuits industry the biggest category under this segment cornering a 24 per cent share.

Dar added that the company catered to the top end of the market too, with its premium offering.

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