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Nestle India has decided to foray into the breakfast cereals segment as part of its strategy to focus on health and nutrition products.
The company on Wednesday said that it will be adding Nestle Breakfast Cereals from Cereal Partners Worldwide (CPW) to its portfolio this year. CPW is a joint venture between Nestle S A, Switzerland and General Mills Inc, United States, to produce and sell breakfast cereals.
The company’s board approved this proposal on Wednesday. However, the company did not give specifics on pricing and variants of the products.
Nestle India has been eyeing a presence in the breakfast space for a while now. Last year, it launched the Maggi Nutrilicious range, which includes the atta and oats variants and is targeted at meal occasions with a focus on breakfast. In a statement, Suresh Narayanan, Chairman and Managing Director, said that the breakfast cereals business will compliment the company’s existing product portfolio.
“We believe eating a nutritious breakfast sets the tone for the rest of the day and acts as the foundation for a healthier future. The consumer need for breakfast choices is only growing and companies need to bring more options to satisfy this need. With this launch, Nestlé India’s objective is to provide high quality nutritious breakfast cereals to our customers in India,” he added.
The company has been sharpening its focus on nutritious products and its recent launches include iron-fortified Maggi Noodles, fortified milk and vitamin fortified ready-to-drink malt beverage Milo.
With the increase in demand for convenient meal options by time-pressed urban consumers, the breakfast cereals segment has been growing at double-digit in the country, as per industry experts.
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