India’s FMCG brand Tata Soulfull aims for high double-digit growth in the next 3-4 years. Prashant Parameswaran, president of Tata Soulfull, revealed that it has grown 60–100% each year since its acquisition in 2021.
FMCG Brand focuses on new categories in INR 500 cr
According to Economic Times, for its next growth phase, Tata Soulfull is focusing on new categories and launching more innovative products. “This fiscal year, we are entering into an additional three to four sizeable new categories. Most of the categories are INR 500 crore plus and one is north of a couple of thousands,” said Prashant to ET. He mentioned that all the new launches are planned for this quarter but didn’t share more details.
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In recent days, Tata Soulfull launched Masala Muesli. “Now, we plan to take muesli beyond metropolitan cities and will introduce it to more Indian households. We have launched it on e-commerce, and with modern trade players like Reliance,” Prashant shared. “We have currently introduced it in top towns and then we will be percolating below,” he further goes.
Tata Soulfull’s double-digit market share in muesli with 25% growth rate
However, the brand serves two consumer groups: adults and kids. “At present, we have a double-digit market share in the masala oats category, whereas Choco Sticks is also close to a double-digit market share. Apart from this, we have a strong double-digit market share in muesli. Muesli as a category is at Rs 400 crore and growing at 25 percent CAGR,” Prashant explained.
While talking to ET, he stressed, “For some categories, we have a presence in close to 3 lakh stores, whereas, for a few categories, we’ve gone all the way to around five lakh stores.”
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Launched in 2013, the brand focuses on Health & Wellness foods, offering millet-based products for kids and adults. It’s one of the fastest-growing brands in India’s healthy packaged foods market. With expertise in ancient millets like ragi, the brand offers a variety of products, including cereals, healthy snacks, muesli, and plant-based protein drinks.
Right now, about 50% of the business comes from areas outside tier I and metro cities.
