With more consumers getting health conscious, ITC is betting big on health and wellness products.
“The shift from health and wellness products is coming across very important in each of our categories.We have launched protein snacks and some more,” said Hemant Malik, Chief Executive Officer-Food Division, ITC.
However, he acknowledged that the company was facing challenges with high sugar and salt content in the products.
Speaking at a panel discussion at FICCI FoodWorld India 2019 held in Mumbai, Malik said that ITC’s snacks business was growing at a rapid pace of 25 percent over the years, but now it has slowed to 17-18 percent due to a slowdown in the economy.
In line with other industry players, ITC also witnessed growth in their premium segment, but the lower-end was impacted due to the slowdown.
“On premium, the growth has continued but on mass and basic growth has slowed down. Still we are not far from double digit growth from the industry,” Malik said.