Acceleration in health and wellness trend; awareness of millets: Tata Consumer
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Tata Consumer Products (TCPL) looks to ramp up its healthy snacks portfolio under the subsidiary, Tata Consumer Soulfull Pvt Ltd, as consumers are increasingly becoming fitness-savvy. It has recently launched masala oats plus as part of the overall expansion. More products are expected in the "better-for-you" category.
TCPL, in February 2011, acquired Bengaluru-based Kottaram Agro Foods - the maker of Soulfull brand of breakfast cereals and millet-based snacks - for ₹155.8 crore to expand its product portfolio. It also has products like plant-based protein drinks in its portfolio.
Prashant Parameswaran, MD and CEO of Tata Consumer Soulfull, said there has been an acceleration in the health and wellness consumer trend and this has led to greater awareness about the benefits of millets. The better-for-you is a trend that will span across multiple categories, he added.
"We will continue to look across categories, focus on innovation, track consumer trends closely to make sure we offer consumers tasty products that meet their lifestyle needs in a healthy manner," he said.
In addition to the 'Taste First, Health Forward' strategy of the Soulfull brand, it will also focus on expanding the distribution reach across channels. "We would build on both mainstream and new-age brand and bring a synergy of massification of health and wellness while continuing to have a strong focus on digital and leveraging e-commerce platforms along with mainstream media approach," Parameswaran said.
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TCSPL has a direct-to-consumer (D2C) platform www.tatasoulfull.com, which helps the brand to engage with consumers directly. "We will continue to invest in targeted brand communication campaigns," he added.
Consumers love certain products/categories but are seeking healthier alternatives without compromising on taste, said Parameswaran.
"The key is to give them healthy offerings in a product form that they can easily integrate into their lifestyles. Tata Soulfull Masala Oats+ is made with the goodness of wholegrain oats plus traditional Indian millets such as navane and jowar, desi masalas and real vegetables. This is a ‘better-for-you’ offering having 25% Millets which make the Oats non-sticky and crunchy," he added.
Despite the inflation challenges, TCPL's net profit rose to ₹1,015.16 crore in 2021/22 from ₹930.46 crore in the previous year. Revenue jumped to ₹12,425.37 crore from ₹11,602.03 crore.