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Having forayed into the ‘health-atta’ (flour) segment with Multigrain and Sugar Release Control Atta under ‘Aashirvaad’ brand, ITC is exploring the possibility of introducing millet flour to tap the health-conscious consumers.
According to Hemant Malik, Divisional Chief Executive, Foods Divisions, ITC, the company is in the process of evaluating its offerings based on consumer choice and preferences.
The market for health-atta, which is typically whole wheat atta mixed with other grains, is estimated to be around ₹250 crore in terms of consumer spends. “We plan to enter the millets space soon and are in the process of evaluating our offerings based on consumer choice and preferences,” Malik said responding to an e-mail questionnaire sent by BusinessLine .
Millets such as those including ragi, bajra and jowar among others, which till recently was termed as coarse cereals, are now being considered as nutri-cereals because of their micro-nutrient composition being better as compared to rice or wheat. This apart, millets are gluten-free and have a low glycemic index.
In a bid to promote millets on a ‘mission mode’ to achieve nutritional security, the Agriculture Ministry has declared the year (2018) as the ‘Year of Millets’.
ITC will look at introducing customised offerings based on consumer preferences in specific markets.
Customised offerings
For instance, ragi is preferred in certain geographies, particularly in the central, southern and western parts of the country, while jowar and bajra are more preferred in north India.
“Based on the consumer understanding, we plan to customise our offerings for the respective markets,” he said.
The company is also evaluating some ‘interesting’ and ‘unique variants’ and product offerings. These are under development and will be launched in due course. ITC had recently launched Aashirvaad Fortified ShudhChakki Atta, which is comprised of nutrients like iron, folic acid, and Vitamin B12, in Delhi and NCR region.
Growing market
As per industry sources, the wheat flour industry is estimated to be around ₹15,000 crore in value terms. The share of branded flour (over chakki atta) is growing steadily.
ITC Ltd pegs the Aashirvaad atta brand is estimated to be at approximately ₹4,200 crore (in terms of consumer spend) and sources say, it holds 28 per cent of the share of the branded atta market. It has been growing at over 18 per cent on a year-on-year basis.
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