Creamy. Crunchy. Sweetened and unsweetened. Chocolate and dark chocolate. Today, paste is accessible altogether these formats. But a decade back, the merchandise itself was hard to go looking out on store shelves. While brands like FunFoods, Veeba, and Sundrop were those to introduce the merchandise to the Indian audience, today the market is flooded with many D2C brands like Pintola, MyFitness, and so the Butternut Co. Dr. Oetker (FunFoods) recently emerged as a market leader within the category with a pair of 30 percent market share of the Rs 390 crore market. In line with a release, the peanut/ choco spreads brought in net revenue of Rs 81 crores, larger than all competitors. While paste could also be a well-liked item within the US, it is a comparatively new concept within the Indian market. It entered India within the late-2000s.
Shashank Mehta, founder, and CEO, of the total Truth, says the large growth within the category has come as a results of paste replacing other bread spreads like jams and chocolate spreads. So, they’re also offering paste as a replacement. Consumers today are responsive to the health risks of eating sugar and are shifting their spread usage from jams to nut sorts of butter.”
As people began attempting to find healthier alternatives, there arose a wave of natural paste brands that make spread with jaggery or dates. aside from the many D2C brands taking this route, there’s also Marico’s Saffola which is selling on the healthy plank. But its rising popularity can also be attributed thereto becoming the go-to option as a high protein product for bodybuilders, gym-goers, and fitness enthusiasts. It provides an alternate to whey protein and protein bars for this audience. MyFitness is one in every of the spread brands that has positioned itself during this space.
Such is that the importance of this audience segment, that Dr. Oetker and Sundrop will soon release special products catering to their needs. In its release, Dr. Oetker announced the launch of latest products, including high protein Peanut Butters, all-natural spread, and all-natural paste sweetened with organic honey. Sachin Gopal, MD, Agro Tech Foods, in its Q4 2022 financial results call, announced that Sundrop are visiting be launching a high protein variant in quarter two of this year.
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