New Delhi, April 4
Candico has launched a new range of hard-boiled mint candies. The company had earlier made a strategic decision not to enter the mint category till it came up with a differentiated product offering.
"Mint candies are the most preferred candies amongst the young adult consumers. Keeping in view the popularity of mint candies, we have introduced XXX to the Indian market which are priced at 50 paise a piece," said Mr Madhav Gupta, Executive Director.
The company's market research on mint candies found that the category is the highest growing segment in the industry today.
Mr Gupta said: "Almost all mint products were competing in the same brand space with little or no product differentiation in terms of product attribute or consumer offers. The current mints in the market are based on either medicinal or breath freshener platform and are around the same taste index."
He added that the research revealed that the appearance and packaging of various brands were almost similar to each other. "It was after identifying the current demand that we found a gap in the market that needed to be bridged."