ITC strengthens FMCG portfolio
With Republic of india facing an unprecedented crunch due to COVID-19 and consumers following aseptic lifestyles strictly, companies are making efforts to accost the growing demand for these hygiene products, including food. In line with this, Republic of india-based fast-moving consumer goods (FMCG) giant ITC has launched 100% natural NimWash vegetable and fruit wash with neem and citrus fruit extracts to strengthen its FMCG portfolio, says GlobalData, a leading data, and analytics company.
According to GlobalData'southward COVID-19 Consumer tracker, 44% of Indian consumers are ownership fresh fruits and vegetables more than earlier in Calendar week 9 (19-31 May 2020). Data also reveals that 48% of Indian consumers are ownership household cleaning products and 47% prefer buying personal care products more than before. Additionally, the percentage of consumers being influenced past health and well beingness has increased from 73% during calendar week ane (25-30 March 2020) to 89% in week nine.
Shagun Sachdeva, Consumer Insights Analyst at GlobalData says, "ITC seems to exist consistent with its confusing strategy by launching a wide range of products and collaborating with the right service partners in the fight against the COVID-19. The strategic motion is in line with ITC's strategy to solidify its market place share as it recently acquired 100% pale in Sunrise Foods, collaborated with Amway India to launch the outset of its kind amnesty offering 'B Natural+' fruit drink and teamed up with Swiggy to provide responsible dining feel."
The key feature of NimWash is the natural claim that can make it unique among its rivals and grab the attending of consumers, who are looking for products with natural ingredients. Sachdeva adds, "With the COVID-19 cases increasing in India, FMCG companies are ramping up production, retooling their portfolios or doubling their distribution efforts to ensure the availability of hygiene products to meet the massive spike in demand. Household goods and personal hygiene seems to be the winners from the pandemic, with widespread lockdowns and cleanliness concerns driving short-term and medium to a long-term spike in the sector. Companies have realized this and have been running strategic campaigns to create awareness for hygiene."
Along with Marico and ITC, other FMCG companies such as Dabur, Godrej Emami, and Pantanjali take as well expanded their portfolio to include health and hygiene products. Most of these companies began with the launch of hand sanitizers, such as ITC Salvon's manus sanitizer and disinfectant, Dabur Sanitize, and Emami BoroPlus sanitizer. These companies now plan to aggrandize their portfolio by exploring newer categories such as floor and surface cleaners, disinfectant sprays, and immunity building products. Not only the established brands, only retailers are too betting large on private labels.
Sachdeva concludes, "Overall, the consumer sense of wellness and hygiene would get in possible for NimWash to grow in the Indian market place. In India, fruits and vegetable wash segment is notwithstanding in the nascent stage. With few smaller players in the market, companies such every bit Marico and ITC are best placed to take early mover advantage."
Source: https://packagingsouthasia.com/application/fmcg/itc-strengthens-portfolio/
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