Parle Products launches new products under Chatkeens brand ahead of festive season

Consumer goods companies are gearing up for the festive season by launching new products in anticipation of the surge in demand which is usually witnessed during the season. Parle Products, the maker of Parle-G, Krackjack, and Monaco biscuits, on August 26 introduced three new products under its traditional snacks or 'namkeen' brand Chatkeens.

“Last year, during the lockdown we had launched a South Special range in the snacks category, which has received rave reviews. This has encouraged us and hence we are introducing another regional specialty Gujarati Mixture. We will be going across the country (except South) with the product,” informed Krishnarao Buddha, Sr. Category Head, Parle Products.

It has also launched Lite Chiwda in the Northern, Western and Central markets and Farali Chiwda throughout India. The company has launched Farali Chiwda, to tap the demand for fasting foods during ‘Navratra and ‘Savaan’, informed Buddha.

Parle Products will be foraying into the newly-launched products in small packs of 20 grams priced at Rs 5 initially before introducing the large pack sizes. The company will be tapping general trade stores for retailing these products.

A major player in the biscuits segment, Parle Products had entered the snacks category in 2008 with the launch of potato chips, and the traditional snacks category subsequently in 2012 with the launch of Chatkeens.

According to Buddha, the company currently draws about seven percent of its business from the segment and has about 20 stocks keeping units in it (SKUs).

“We have witnessed a 12 percent growth in FY21 in the category as compared to 7-8 percent in the pre-pandemic times. The increased demand for snacks has been fuelled by the rise in at-home consumption of these products,” said Buddha.

Biscuits followed by confectionaries contribute to the majority of its sales. The company has 1,700 distributors for its snacks range as compared to 8,000 distributors for the biscuits category. It has appointed exclusive distributors in towns with a population above Rs 5 lakh for the snacks products.

The organised market for salty snacks, as per industry estimates, is valued at Rs 38,000 crore and has witnessed a growth rate of 12 percent. PepsiCo is the largest player in the segment with its brands such as Uncle Chipps and Lay’s. ITC’s Bingo, Yellow Diamond, and Balaji Wafers are other players in this market. In the traditional segment, besides Haldiram’s and Bikano, several regional players have a presence. Including the unorganised segment, the market is estimated to be sized at about Rs 80,000 crore.