In a bid to expand its portfolio and gain India's instant noodles market share, Sunfeast Yippee launched 4 new flavours of instant noodles on November 15.
With this launch, the company intends to compete with Nestle’s Maggi, which has a market share of 60 percent in the instant noodle space.
“When we got into this space, there was one very large competitor. So we figured out what new offerings can we bring into the noodle market. Today, after 7.5 years, we have a 22 percent market share,” said Hemant Malik, Divisional Chief Executive-Foods Division of ITC.
According to Euromonitor, in terms of sales, Nestle’s Maggi is followed by ITC’s Sunfeast Yippee, the Chaudhary Group's Wai Wai, Nissin Foods Holdings’ Top Ramen and Hindustan Unilever’s Knorr Soupy Noodles brands.
Some of the other notable brands in India's instant noodles market include Ching's Secret, GSK's Horlicks Foodles, Festers, Tasty Treat and Smart Choice.
According to the World Instant Noodles Association, India is the fourth-largest noodles market, accounting for an annual demand of 5.4 billion servings in 2017, out of 100 billion globally.
ITC has tied up with Bigbasket for selling YiPPee's ‘My range’. The products will be available on Bigbasket for one week, following which it will be distributed to all modern format and general trade stores across India.
“Digital e-commerce is an important opportunity area. The digital world, including e-commerce platforms, are effective tools to strengthen the brand’s visibility and build a consumer franchise. This collaboration with Bigbasket is a meaningful endeavour to bring that flavorful experience of YiPPee’s new variants closer to our customers,” Malik said.
Sunfeast YiPPee will be available in 4 flavours: My Crazy Chow, My Madly Manchurian, My Mystery Masala and My Truly Chicken.
Each pack is of 60 g and all vegetarian variants will be available for Rs 15, while the non-vegetarian, Truly Chicken variant is priced at Rs 18.
ITC’s Sunfeast Yippee, which entered the noodle space about 7.5 years ago, has become a Rs 1,000 crore brand.
The Sunfeast Yippee has strong presence in South India with 37 percent market share.
ITC Foods business exports its products to North America, Africa, Middle East and Australia.
ITC branded packaged foods business includes popular brands like Aashriwad, Bingo, Sunfeast, Fabelle, Sunbean, Yippee, Kitchen’s of India, ITC Master Chef, Farmland, mint-o, Candyman and Frozen Foods.
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