ITC sees a rise in its market share

India: ITC, India’s FMCG major is emerging as largest beneficiary in the instant noodles segment in the country. Yippee brand which is owned by ITC is getting a momentum in the market and its share has risen to 30-40% owing to big campaigns, being run by the company to bring back the confidence in the market.

Instant noodles market has been in controversy following the ban of Maggi in India; during pre-Maggi controversy the industry sales were Rs 250-300 crore per month but the ban caused the instant noodles industry sales to go down to 5-10 per cent after the controversy broke, but now it is able to recover to nearly 50 per cent of the original industry sales. Industry has plenty of scope to grow as India is seeing a consistent growth in the per capita income and people have less time to spend on cooking.

According to TechSci Research, instant noodles market is a consolidated market which is dominated by Nestlé’s Maggi followed by ITC’s Yippee. The market has been growing very fast and this growth has drawn a new player in the form of Patanjali. ITC’s Yippee brand has different flavors which has helped the company in grabbing bigger market share; this would force Maggie to spend more money on product innovation and marketing campaigns in order to maintain its lead in the noodles market.