~ Parle Agro’s revolutionary dairy brand celebrated by NielsenIQ for its innovation and market disruption~
Mumbai, November 24, 2023 – Parle Agro’s pioneering dairy brand, Smoodh, has been awarded the prestigious BASES Breakthrough Innovation Award for 2023 by NielsenIQ. This award acknowledges groundbreaking product launches of 2021. Products that have gone on to redefine their categories, drive growth and achieve success even in the face of challenges such as the pandemic, supply chain disruptions and rising costs.
Smoodh captured an impressive 33 percent market share in the flavoured milk segment within eight months and clocked an astounding ₹685 crore turnover in under two years. All while being launched in the midst of the covid pandemic. The unprecedented success of Smoodh effortlessly met the BASES Breakthrough Innovation Award benchmarks. These included achieving mass appeal in the year of launch, sustaining market longevity, and authenticating these achievements with hard data.
Since its inception in 2021, Smoodh has made significant strides in the dairy beverage market and completely revolutionized the industry’s landscape. The introduction of a delicious dairy beverage in compact, affordable packs priced at an unbeatable ₹10 played a key role in catapulting Smoodh to record-breaking success. By breaking the pricing barrier, Parle Agro not only made Smoodh accessible to a larger audience but also achieved nationwide reach and distribution, including rural markets. Smoodh introduced multiple Indian regions to their first experience of a branded dairy beverage.
Commenting on Smoodh’s recognition, Nadia Chauhan, Joint Managing Director and CMO, Parle Agro said, “In less than two years, Smoodh has proven to be a true game-changer in the dairy beverage market and this recognition from NielsenIQ further solidifies its status as an industry disruptor. The brand’s success can be attributed to a relentless dedication to R&D and a commitment to redefining the boundaries of taste, quality, and innovation.”
With Smoodh’s remarkable journey, Parle Agro has not only expanded the dairy beverage industry but also set a new standard for innovative product launches. Parle Agro’s vision for Smoodh extends to making it a ₹5000 crore brand by 2025.
