Prosus likely to have promoter status in Swiggy’s $1 billion IPO

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January 23, 2024

Prosus, the largest shareholder in Swiggy, is likely to be designated as a promoter for the upcoming initial public share sale of the online food and grocery delivery company, according to a report from ET. Sources familiar with the matter have indicated that the major sellers in this IPO will be the existing investors of Swiggy.

The Dutch-listed investment arm of the South African conglomerate Naspers has been actively seeking to decrease its stake in Swiggy, aiming to bring it below the current 33%. Despite ongoing talks with potential investors, these efforts have yet to achieve success. According to Indian regulations, holding a stake of 26% or more qualifies a shareholder as a promoter, leading to restrictions on post-IPO share sales.

As Swiggy gears up to file its draft IPO papers in the forthcoming months, sources indicate that the $1 billion IPO is anticipated to include a minimum of $600 million in an offer for sale by existing investors.

Continue Exploring: Swiggy may file IPO by fiscal year end, plans to raise capital with combination of offer-for-sale and new issue; Prosus contemplates stake reduction

Swiggy’s spokesperson opted not to comment, and an email directed to Prosus remained unanswered until the press time.

While Swiggy is in the process of preparing its IPO papers, insiders reveal that Boat, the New Delhi-based wearables and audio accessory brand, is contemplating a reconsideration of its plan to go public in 2024. This comes after Boat withdrew its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India in 2022, citing challenging market conditions.

However, one of the sources mentioned that it still intends to proceed with a public share sale.

Several new-age companies are seeking to make their debut on the stock market, following a turbulent 12-18 months for technology-led startups on local exchanges. In recent weeks, FirstCry, Ola Electric, Mobikwik, and Unicommerce have submitted their draft IPO papers and are anticipated to go public later this year.

Swiggy aims to file draft IPO papers by the end of the current fiscal year, but the timeline could change, according to individuals familiar with the matter.

Continue Exploring: Preparations in full swing as Swiggy nears mega IPO launch later this year

“Prosus has been in talks with several investors to dilute the stake in Swiggy as part of a broader strategy to do secondaries (sale of shares) across portfolio firms, but it hasn’t worked out due to a valuation mismatch in Swiggy,” a person aware of the matter said.

Prosus, having invested around $1 billion in Swiggy, aims to shed the promoter tag to attain greater autonomy in managing the investment post the IPO.

SoftBank, with a 46% stake in the hospitality chain Oyo, also faces a similar situation. However, in the case of FirstCry, SoftBank reduced its holding to around 25.5% before the company filed the DRHP in December, from more than 30% at one point in time.

Boat, the audio-product maker, is scheduled to meet with investment bankers later this month to review its IPO plans.

“There is definite interest to relaunch the IPO as there is momentum in the market. They (Boat) will take a call on it soon,” a person aware of the matter said.

Aman Gupta, co-founder and Chief Marketing Officer of Boat, declined to comment on the matter.

In October 2022, it pulled back the DRHP after securing $60 million in funding.

Besides Gupta, Sameer Mehta, the other co-founder of Boat, also serves as its chief executive. He assumed this position after Vivek Gambhir was appointed chairman last year.

In 2022, Imagine Marketing, the parent company of Boat, submitted the DRHP to Sebi with the intention of raising INR 2,000 crore. This comprised a fresh issue of shares amounting to INR 900 crore and an offer for sale of shares valued at up to INR 1,100 crore.

Mobikwik is another firm that had initially postponed its IPO after filing its DRHP in July 2021. However, in a recent move, the company has refiled its draft papers with Sebi this month, aiming to raise INR 700 crore through a primary share sale.

Concerns over cultivated meat echo in EU as Austria, France, and Italy unite against production

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January 22, 2024

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Austrian, French, and Italian delegations are set to oppose cultivated-meat production at the upcoming meeting of EU agriculture ministers taking place this week.

In a communication addressed to the Council of Ministers, the countries described the industry as a “threat to primary farm-based approaches.”

They also expressed concern that it jeopardized “authentic food production methods that form the core of the European farming model.”

“We recall that the EU has never delivered any authorisation on animal products based on cell cultivation techniques so far,” the delegations added.

“Hence, a transparent, science-based and comprehensive approach is necessary to assess the development of artificial cell-based meat production, which in our view does not constitute a sustainable alternative to primary farm-based production.”

The delegations of Czechia, Cyprus, Hungary, Luxembourg, Lithuania, Malta, Romania and Slovakia have supported the argument.

The note also asserts that cultivated food production “raises many questions that have to be thoroughly discussed between the member states, the Commission, stakeholders, and the general public” before it can be considered a viable method for producing food.

Some of the questions proposed revolve around ensuring the safety of lab-grown meat and addressing ways to prevent the creation of monopolies or oligopolies in the food market.

The document also expresses concerns regarding the “actual carbon footprint” of lab-grown meat and questions whether the process provides improved standards for animal welfare.

In a statement, Alex Holst, senior policy manager from the alternative proteins non-profit, the Good Food Institute Europe, said, “This non-binding statement spreads misinformation about cultivated meat and undermines Europe’s world-leading regulatory system.

“The EU’s Horizon programme and countries like Germany, Spain and the Netherlands have already invested in cultivated meat, recognising its potential to improve food security, reduce emissions, and satisfy growing demand for meat.

“Overhauling the gold standard Novel Foods regulatory process now is completely unnecessary, and risks preventing the EU from taking a leading role in this sector – just as the United States and China invest in cultivated meat to boost their economies and create future-proof jobs.”

In an interview with the European news site Euractiv, a diplomat described the action as “highly exaggerated and premature.”

“It’s a sector that does not yet exist, at this point it’s about innovation in a lab. Suppressing this now only hinders the kind of innovation that is precisely necessary for sustainability,” they said.

The note marks a new push against cultivated meat in Italy. Lawmakers in the country approved a ban on the manufacture, sale, and import of the product last November.

Continue Exploring: Italy becomes first EU country to prohibit cultivated meat production

Although the national Chamber of Deputies has accepted the bill, it still awaits the final approval from the EU.

To date, Singapore, the United States, and Israel stand as the only countries globally that have sanctioned the production of cultivated meat.

Last week, Israel became a recent addition to this roster by granting approval to Aleph Farms for its cultivated beef product, Petit Steak.

In 2020, regulatory approval was granted to Eat Just’s subsidiary, Good Meat, for its cultivated chicken in Singapore.

Last year, Eat Just and another U.S. entity, Upside Foods, secured approval to manufacture and market their cultivated chicken in the U.S. market.

Metro Brands teams up with Nextail to revolutionize retail with AI-driven merchandising solutions

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January 22, 2024

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Footwear brand Metro Brands Ltd. has collaborated with the merchandise planning platform Nextail, as disclosed in a press release on Monday.

The collaboration involves integrating various AI-driven solutions into the company’s buying and merchandising functions, according to the press release. This initiative aims to enhance Metro Brands’ capabilities in ensuring product availability, hyper-local forecasting, and operational efficiency.

Nissan Joseph, chief executive officer, Metro Brands Ltd., said, “Our decision to partner with Nextail is based on their strong product vision and retail knowledge, but more importantly because of our shared ethos for leveraging cutting-edge solutions in favour of enhancing the customer experience.”

The Indian footwear sector is projected to grow from its current $26 billion to reach $90 billion by the year 2030.

“We are so proud to embark on this journey with Metro Brands Ltd., an iconic and respected name in the Indian retail landscape. Together, we aim to empower Metro Brands Ltd. to stay at the forefront of retail innovation in India and worldwide,” said Juan Avedillo, co-chief executive officer, Nextail.

Metro Brands operates more than 800 stores in over 180 cities across India and plans to open more than 200 additional stores by FY 2025.

Established by Joaquin Villalba and Juan Avedillo, Nextail, headquartered in Madrid, utilizes artificial intelligence and advanced technologies to offer merchandising planning services to fashion retailers.

In the third quarter concluding in December 2023, Metro Brands witnessed a 12.57% decrease in its combined net profit, amounting to INR 98.78 crore. This contrasts with the INR 112.99 crore net profit recorded in the corresponding October-December period of the previous year.

Continue Exploring: Indian footwear industry set for exponential growth, projected to reach $90 Billion by 2030: GTRI Report

British menswear brand Charles Tyrwhitt debuts in India in collaboration with Reliance Brands, unveils first store in Ahmedabad

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January 22, 2024

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Charles Tyrwhitt, the British multichannel men’s clothing retailer, has officially entered the Indian market through a collaboration with Reliance Brands, the retail division of Reliance Industries, as announced by an industry official on social media.

The brand’s first store is now operational at Palladium Mall in Ahmedabad, Gujarat.

“Charles Tyrwhitt arrived in India with the 1st store opening doors at Palladium Ahmedabad. Visit us to explore redefined premium men’s wear collection,” said Monil Gheewala, assistant vice president – leasing at The Phoenix Mills Ltd. in a LinkedIn post.

Charles Tyrwhitt was founded in 1986 as a mail-order company by Nicholas Charles Tyrwhitt Wheeler. The retailer now specializes in a range of products, including dress shirts, ties, suits, casual wear, shoes, and accessories.

Today, the company has established its presence in the United Kingdom, United States, France, and India.

Reliance Brands, a subsidiary of Reliance Retail Ventures Ltd, initiated its operations in 2007 with the goal of introducing and developing global brands in the luxury to premium segments of fashion and lifestyle.

The company has established long-term exclusive partnerships across various sectors, collaborating with renowned global and Indian brands such as Ritu Kumar, Bottega Veneta, Tiffany & Co., Valentino, Versace, Rahul Mishra, Armani, Balenciaga, Boss, and Zegna, among others.

Reliance Retail, along with its subsidiaries and affiliates under RRVL, operates an integrated omni-channel network comprising more than 18,650 stores and digital commerce platforms. This network spans grocery, consumer electronics, fashion, lifestyle, and pharmaceutical consumption categories.

In December 2023, RRVL reported a 31.87% increase in its net profit to Rs 3,165 crore for the third quarter of the fiscal year 2023-2024.

Continue Exploring: French fashion brand Maison Margiela marks its Indian debut in collaboration with Shoppers Stop and L’Oréal International Distribution

Victoria’s Secret unveils its first beauty store in Mumbai

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January 22, 2024

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On Monday, Apparel Group India, the parent franchise of the American specialty retailer brand Victoria’s Secret, announced the opening of its first beauty store at Inorbit Mall in Malad, Mumbai, according to a post on social media.

“We are excited to present the opening of Victoria’s Secret Beauty store at Inorbit Mall Malad, Mumbai. This is the brand’s 1st beauty store in Mumbai and the 7th in India,” Apparel Group India said in a LinkedIn post.

Victoria’s Secret made its foray into the Indian market in 2021, establishing a foothold through a collaboration with Apparel Group India. Introducing itself initially through an e-commerce platform, the global chain featured a diverse array of products, ranging from fragrances to beauty and personal care items.

In the third quarter of the Financial Year 2023-24, Victoria’s Secret inaugurated more than four outlets. These comprised two establishments in Pune, and one each in Hyderabad and Bengaluru.

In 2022, Victoria’s Secret expanded its presence in India by inaugurating its initial brick-and-mortar outlet at Palladium Mall in Mumbai. Subsequently, a second store was opened at Ambience Mall in Vasant Kunj, New Delhi. In November 2023, marking a continued expansion, the brand introduced its first store in Pune at Phoenix Mall of the Millennium.

Founded in 1977 by brothers Roy and Gaye Raymond, Victoria’s Secret has grown into a prominent American retailer specializing in lingerie, clothing, and beauty products. According to its official website, the company now operates globally with around 1,360 retail stores situated in 70 countries.

Boasting an extensive network of over 2,025 stores spanning across more than 14 countries, the Apparel Group serves as the representative and marketer for a portfolio of over 80 brands. Among these are renowned names such as Beverly Hills Polo Club, Bath & Body Works, Tim Hortons, Tommy Hilfiger, Nine West, Call it Spring, Charles & Keith, Inglot, La Senza, and R&B Fashion.

Continue Exploring: Victoria’s Secret sets foot in Pune: Unveils its first store in Phoenix Mall

Colgate-Palmolive reports 35.7% surge in net profit to INR 330.11 Crore in Q3 FY24

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January 22, 2024

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In a regulatory filing on Monday, Colgate-Palmolive (India) announced a notable 35.7% increase in net profit after tax (PAT), reaching INR 330.11 crore for the quarter concluding on December 31, 2023. This marks a significant growth from the net PAT of INR 243.24 crore recorded for the corresponding quarter in the previous fiscal year.

As per the BSE filing, the company’s net sales for Q3 FY24 rose by 8.2% to INR 1,386 crore, contrasting with INR 1,281.21 crore reported in the corresponding period of the previous fiscal year.

Prabha Narasimhan, managing director and CEO of Colgate Palmolive said, “We are pleased with top-line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands.”

He further added, “Our current performance underscores the effectiveness of our strategy, focus on technology, securing the right talent, and efforts in governance and cost management. These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion.”

Continue Exploring: Colgate-Palmolive sets sights on urban consumers, explores growth in premium oral care and personal care segments

Healthy meal subscription platform The Kenko Life secures angel funding led by R Raghunathan, eyes expansion to Gurgaon and Hyderabad

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January 22, 2024

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The Kenko Life, a food delivery platform focusing on health and macro-counted meals, has successfully concluded an angel funding round. The funding was led by R Raghunathan, the Co-Founder of Prizm Payment Services (now known as Hitachi Payment Services Private Limited) and OPC Asset Solutions.

The Kenko Life sets itself apart by delivering customized meals that prioritize individual protein, calorie, and macro requirements, all while emphasizing an exceptional taste experience.

Expert nutritionists at the startup curate personalized meal plans tailored to align with each customer’s health goals, offering continuous support throughout the journey. Kenko provides a variety of dietary options, such as carb-conscious, diabetes-friendly, vegetarian, non-vegetarian, multi-cuisine, and paleo plans, with durations spanning from one week to a month.

Established in 2020 by Neeraj Kumar and Vivek Chandran, The Kenko Life is currently exclusively available in Bangalore. The platform offers a varied menu featuring 100 delightful meal options from diverse cuisines. Customers have the flexibility to choose from lunch, dinner, or both, ensuring a month-long experience without repetition. The startup, operating on a subscription model through its website, serves over 200 meals daily in Bangalore. Additionally, it is accessible on-demand through Swiggy and Zomato.

Expressing enthusiasm about the recent investment, Co-Founder Vivek Chandran stated, “We are thrilled to announce that R Raghunathan, co-founder of Prizm Payment Services and OPC Asset Solutions, with a proven track record in building successful startups, has decided to invest in our company. Raghu brings over 30 years of experience in building and scaling both manufacturing and service-centric businesses. His involvement in our business is a testament to his belief in our vision and potential. We are excited to leverage his wisdom, network, and resources to propel our growth and achieve new milestones.”

Founder Neeraj Kumar added, “The Kenko Life envisions launching an app, securing funds, and expanding to Gurgaon and Hyderabad, leveraging our existing client base and local support. We currently serve around 200 plus meals a day across 100 pin codes in the city; plans also include establishing healthy cafes in two upcoming fitness clubs and at some corporate establishments.”

Continue Exploring: Health-conscious trend surges in Bengaluru and Hyderabad: Simpli Namdhari’s study reveals shift towards nutrient-rich foods in 2024

Udaan undergoes executive leadership restructuring as Group CFO Aditya Pande resigns

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January 22, 2024

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Udaan, the B2B e-commerce platform, announced senior-level organizational changes on Monday. As part of this restructuring, Kiran Thadimarri, previously the Group Finance Controller, has been elevated to the executive management team. His expanded role includes overseeing treasury, corporate finance, and corporate audit functions.

The company informed that Aditya Pande has decided to pursue opportunities outside of udaan, after a successful stint of over three years as Group CFO.

Also, Vishnu Menon, Head of Corporate Strategy and investor relations, will take on the additional responsibility of business finance, as part of the organisational changes.

The two executives — Menon and Thadimarri — will work towards further strengthening the financial and governance practices at udaan with the objective of enabling the company to achieve operational profitability and public market readiness in the next 12-18 months, according to a company release.

Announcing the organisational changes, udaan said these are in line with the company’s commitment to drive profitable growth and continue strengthening core capabilities.

As part of the organisational changes, Kiran Thadimarri, Group Finance Controller, will be elevated to be a part of the executive management team with additional responsibility of handling treasury operations, corporate finance and corporate audit, in addition to his existing responsibility of financial controller.

In his enhanced role, Thadimarri will report to the CEO.

The release mentioned that Thadimarri, a qualified Chartered Accountant, has been associated with udaan for close to three years.

Continue Exploring: B2B ecommerce unicorn Udaan sees drastic 50% valuation drop to $1.8 Billion in down round

In a career spanning two decades, Kiran graduated from GE’s premier leadership programmes, was CFO of GE Water, South Asia, has worked closely with Aditya Pande (outgoing Group CFO, udaan) at GE Healthcare during his 14-year stint at GE, and subsequently co-founded a healthcare technology distribution company.

Vishnu Menon, Head – Corporate Strategy & IR, takes on the additional responsibility of business finance, and will continue to report to the CEO.

Menon has been associated with udaan for the past four years. An MBA from IIM Calcutta with a degree in Engineering from the Kerala University, Menon in the past has worked as a management consultant with Bain & Co and was also the Founder & CEO of Wandertrails, an experiential travel startup.

Informing about Aditya Pande’s exit, after a successful stint of over three years as Group CFO, the company said as he transitions, the solid foundation laid during his tenure will enable udaan to tap future growth opportunities, capitalise on scale, and leverage cost synergies.

“During his tenure, Aditya played a pivotal role in shaping udaan’s financial strategy marked by strategic financial decision-making, implementation of resilient financial systems, successful fund raising and a razor-sharp focus on fiscal management,” the release said.

Samosa Singh launches diverse lineup of ‘ready-to-cook’ guilt-free Samosas with over 20 irresistible flavors

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January 22, 2024

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Samosa Singh, a renowned Indian snack brand, has unveiled its innovative “Ready-to-Cook” samosa packs as part of its diverse lineup. Committed to extending the global allure of India’s cherished snacks, the brand is set to introduce an enticing range of Guilt-Free Samosas, adding a flavorful dimension to its traditional samosas and Indian street snacks lineup.

These samosas feature a distinctive encrusted design meticulously developed through hours of rigorous research and development by Samosa Singh. The result is a delectable fusion of pleasure with minimal fat—reduced by up to 50%. With a diverse array of over 20 flavors, including paneer tikka samosa, soya keema samosa, cheese and corn samosa, onion kachori, Punjabi aloo samosa, and more, the brand ensures a delicious variety to cater to diverse palates.

Revolutionizing the iconic samosa into a guilt-free delight, Samosa Singh’s latest creation redefines snacking by harmonizing authentic flavors with health-conscious choices. The Guilt-Free Range ensures a complete absence of cholesterol, trans fat, preservatives, or additives, presenting an outstanding option for consumers prioritizing their health.

The ready-to-cook samosas provide a range of cooking options, including baking, deep-frying, or air-frying, carefully curated to allow consumers to savor these delightful treats in accordance with their preferences.

Speaking on the launch, Shikhar Veer Singh, Founder, Samosa Singh said, “We are excited to extend our product portfolio with the launch of ready-to-cook samosas, now available for a global audience. With over 100,000 hours dedicated to research and development, we are delighted to provide guilt-free enjoyment that flawlessly blends traditional flavors with a modern twist. Samosa Singh is taking the experience of India’s famous samosas to new and larger heights.”

Nidhi Singh, Co-Founder of Samosa Singh, said, “We have entered this space with the intention to provide healthier yet indulgent alternatives, revolutionizing the way people view cooking snacks. Recognizing the broad demand for ready-to-cook products in India and around the world, our mission is to redefine efficiency and inspire more people to cook at home daily. Our varied selection includes alternatives for baking, deep-frying, and air frying, appealing to various tastes. With this unique range, we hope to make meal preparation a seamless and joyful experience for our consumers.”

Continue Exploring: Samosa Singh launches new outlet in Hyderabad, expands reach with diverse culinary offerings

From Gochujang to Parmesan: Kerry unveils 2024 Taste Charts mapping culinary trends

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January 22, 2024

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Kerry, a leading presence in taste and nutrition, has unveiled its 2024 Taste Charts, A World of Future Tastes, to the global food and beverage community. The culmination of Kerry’s year-long research is a series of incisive charts created separately for 13 individual regional markets, including 30 countries in Asia Pacific, Middle East & Africa (APMEA).

The charts categorize mainstream, key, up-and-coming, and emerging tastes within five food and beverage segments. They offer a thorough analysis of flavors, ingredients, and trends that are poised to influence innovation in the food and beverage sector in the coming year, serving as inspiration for product and menu developers globally.

Highlighting the remarkable pace of today’s innovation, Kerry researchers delved deeply into the lifecycles of two enduringly popular flavors—orange and chocolate. The study explored how these widely embraced ingredients are transforming into a myriad of inventive and delightful product offerings across the globe. These case studies exemplify the convergence of popular and traditional tastes on a global scale, showcasing how brands are creatively sourcing, combining, and recombining flavors and ingredients to generate new and innovative applications.

Continue Exploring: Sneak peek into 2024: Frito-Lay and Quaker reveal the next big things in food and snacking

In the evolving Indian market, a surge in indulgence and premiumization is evident as consumers develop a preference for flavors such as sea salt, salted caramel, truffle mushrooms, sun-dried tomatoes, and peanut butter.

Other top insights for 2024 flavour innovation in South Asia:

K-Cuisine flavors, such as gochujang and kimchi, are gaining popularity in savory categories.

Cheese+: While cheese remains a popular choice, the current market trend is leaning towards specific types of cheese and pairings that are sure to delight consumers. Notably, parmesan, cheddar, and cream cheese are gaining prominence.

Love for Chili: Various chili varieties with their unique and specific flavors play a crucial role in numerous culinary genres. In India, consumers are increasingly discovering the diverse tastes of green chili, chipotle, peri-peri, sriracha, ghost chili, and more.

Fruits such as Yuzu are gaining popularity across various markets and applications. Recent launches include Yuzu Gose beers in South Africa, Yuzu and pepper mayonnaise in China, and Yuzu low ABV wines and alcoholic beverages in Australia.

In South Africa, authentic local flavors such as Chicken Dust, inventive combinations like chili lemon/lime, and international culinary influences such as jalapeno atchar reflect the nation’s cultural diversity. Additionally, there is a growing trend in the popularity of sweet flavor pairings, ranging from sweet & salty, sweet & spicy, to sweet & smoky.

In India, traditional spices and cooking techniques are taking on a modern twist, resulting in innovative dishes like turmeric latte macarons and other culinary delights. Similarly, in Thailand, this culinary evolution is evident in creations such as charcoal-grilled skewers with fermented chili paste.

Driven by the influence of social media and a quest for novelty, young consumers are seeking bold and unconventional flavor combinations. This trend creates opportunities for unique sweet-savory pairings, such as bacon milkshakes, coffee infused with black garlic, and chocolate bars with wasabi.

The surge in the plant-based revolution is sparking a demand for inventive flavor solutions in meat and dairy alternatives. Examples include jackfruit rendang in Indonesia, mushroom jerky in Australia, and chickpea falafel with a Middle Eastern twist.

Passionfruit, typically regarded as a specialty fruit, has emerged as a prevalent flavor in all 13 distinct global regions according to chart analyses. While it holds mainstream status in New Zealand, it remains an early-stage and developing flavor in the Middle East.

Across wider Asia Pacific, the flavour scene remains vibrant. Commenting on the 2024 Asia Pacific (APAC) Taste Charts, Avinash Lal, Market Research & Consumer Insights Director, Kerry Asia Pacific, Middle East & Africa, stated, “APAC is a colourful flavour tapestry, constantly evolving and influenced by diverse cultural traditions, emerging trends, and evolving consumer preferences. Consumers are rediscovering the magic of their own culinary heritage, seeking out unique regional ingredients and flavour profiles. Traditional spices and cooking techniques are also getting a modern twist, leading to innovative dishes like turmeric latte macarons in India and charcoal-grilled skewers with fermented chilli paste in Thailand.”

Lal added, “Young consumers are craving bold and unusual flavour combinations, driven by social media’s influence and a desire for novelty. This opens opportunities for sweet-savoury pairings like bacon milkshakes, coffee infused with black garlic, and chocolate bars with wasabi.”

Soumya Nair, Global Consumer Research and Insights Director at Kerry, said, “Consumers want tasty new innovations or flavours they may have experienced while traveling. We are seeing many unique flavour intersections in foods and beverages. Although rapidly changing times can present great challenges, they also provide an unparalleled opportunity for brands to catch a trend on the rise. The Kerry 2024 Taste Charts are a valuable tool for the food and beverage industry to navigate the new taste environment for products.”

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Other top insights for 2024 flavour innovation in South Asia: