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Soch Foods LLP, the maker of granola snacks under the brand name Munchilicious, is looking to expand its mid-meal snacking range by adding more variants such as bars and cookies. Plans are afoot to diversify into newer markets and consolidate presence in existing markets over the next three-to-six months.
According to Rohit Pugalia, Founder, Soch Foods, Munchilicious is currently available in dried fruits, original, dark chocolate, grain free and savoury granola variants.
“We are looking to add more variants in the mid-meal snacking segment including bars and cookies. R&D is on and we hope to firm up plans soon,” Pugalia told BusinessLine .
The breakfast cereal market in India is estimated at over $280 million and is growing at close to 17 per cent, backed by the increasing urban population and growing corporate culture, according to industry sources. This apart, the rising demand for convenient food options due to busy lifestyle and increasing disposable income are further pushing demand for breakfast cereals.
Expanding footprint
The brand has retail presence in chains such as Nature’s Basket, Spencer’s and Aditya Birla Retail More across seven cities including Mumbai, Bengaluru, Chennai, Delhi, Kolkata and Ahmedabad. It plans to add new markets such as Hyderabad, Pune, Goa, and Gurugram.
“In Delhi and Kolkata our presence is still small. So we are looking to expand our footprint by making our brand available in more stores over the next few months. This apart, we are also planning to add more markets such as Goa, Gujarat and Nagpur, among others,” he said.
It currently has presence in 200 odd stores across these cities. This will be taken up to 500 stores in the next three-to-six months.
Nearly 50 per cent of the company’s sales come from online channel through e-tailers such as Amazon. It also operates in the B2B segment through tie-ups with hotels that offer its breakfast cereals to guests.
Soch Foods is also looking to tap overseas markets. It is already present in Singapore and Sri Lanka and is looking at Russia, Kenya, Tanzania and Brazil, among others.
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