Nestle India’s instant noodle brand Maggi, whose sales were severally hit by FSSAI ban last year, has regained its leadership position capturing 57 per cent share of the market in June this year.
Within nine months of its re-launch, Maggi noodles now accounts for 57.1 per cent market share of the instant noodles segment riding on its marketing /branding initiatives and new variants.
In November, when the company relaunched Maggi after five-month ban, it had 10.9 per cent of the market share, which climbed to 35.2 per cent in December, according to a Nestle India presentation made to financial analysts and institutional investors.
In March 2016, it had 51 per cent market share.
Nestle has launched four variants of Maggi Cuppa Noodles and Maggi Hotheads each, the presentation said.
Besides, it has also launched ‘No Onion No Garlic” noodles.
On August 18, its parent firm Nestle had said that it has regained leading market share after growth in India turned positive in June on good progress with relaunch of Maggi noodle.
“Growth in India turned positive in June due to good progress with the Maggi noodle relaunch and favourable comparables. We regained a leading market share position.
India kept gaining momentum one year after the start of the Maggi noodle withdrawal,” Global food and nutrition giant Nestle had said in the statement.
In June 2015, FSSAI (Food Safety and Standards Authority of India) banned Maggi noodles in India following a Bombay High Court order, saying it was “unsafe and hazardous” for consumption after finding lead content beyond the permissible limit.
After the five-month ban, in November last year, Nestle India relaunched Maggi noodles in the Indian market.
Earlier this year, Nestle India launched up to 25 products across various categories in a day to fend off competition.
[Source:- businesstoday]
