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iD Fresh Food revolutionizes coffee making with new pour-to-perfection liquid bottle

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SnackTeam
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iD Instant filter coffee liquid bottle
iD Instant filter coffee liquid bottle

iD Fresh Food, the leading and pioneering brand in fresh food in India, has introduced the all-new iD Instant filter coffee liquid bottle. This innovative product empowers consumers to craft their ideal cup of coffee effortlessly, tailored to their personal taste. With the ability to adjust the precise amount of liquid needed, individuals can now enjoy a delightful coffee-making experience with ease, no matter where they are.

Upon squeezing, the uniquely designed pour-to-perfection bottle, resembling a traditional cup and dabara (a filter coffee tumbler), effortlessly releases the decoction according to individual preferences. Whether one desires a bold or mellow flavor, this innovative bottle enables them to swiftly concoct the ideal cup of filter coffee, achieving perfection in an instant!

Renowned for their inventive approach, iD’s latest entry into the coffee realm is set to revolutionize a sector that has experienced limited innovation. Within the coffee segment, iD’s diverse portfolio is assuming the role of a pioneering force, boasting an impressive 85% market share (as cited from an independent online study). This launch is poised to inject significant momentum into a field that has previously seen minimal transformation.

During the initial stage, the company intends to introduce the product to 10,000 stores within Bengaluru, Hyderabad, Chennai, Mumbai, and Pune markets. Subsequently, expansion into other markets will occur progressively. The product is currently accessible through General Trade and E-commerce/Quick Commerce channels.

Speaking about the company’s latest product innovation, PC Musthafa, Chief Executive Officer and Co-Founder of iD Fresh Food, said, “From the time iD Fresh created the filter coffee decoction category in 2018 – with the launch of two customised blends of iD Instant Filter Coffee Liquid (bold & strong) – we have been receiving encouraging feedback from our customers. Particularly those who understand and appreciate the fact that filter coffee decoction — a mix of boiled water and ground coffee powder — is very different from instant coffee powder. With the iD Coffee Pour-to-Perfection liquid Bottle, we have attempted to find an innovative solution to the common challenge of measuring and pouring out the exact quantity of coffee decoction, based on one’s personal preferences. Brewing your perfect filter coffee, every single time, has never been this easy!”

Crafted with precision, the iD Instant Filter Coffee liquid Bottle combines 80% coffee and 20% chicory in a meticulous blend. This composition ensures a harmonious and balanced flavor, accompanied by a delightful aftertaste and captivating aroma. Notably, the product contains no additional preservatives, colors, or sugar, maintaining its natural essence.

Rahul Gandhi, Chief Marketing Officer, iD Fresh Food, said, “Some people like their coffee really strong, some prefer just right, and others light. The Pour to perfection coffee bottle yet again delivers on solving consumer latent need and allows consumers to make their perfect cup of coffee. iD Instant Filter Coffee liquid addresses this pain point effectively with a novel squeeze-and-pour coffee bottle, which easily calibrates the exact quantity of the decoction to make that extraordinary cup of coffee, just the way you love it!”

Since its establishment in 2005, iD Fresh has remained a pioneer in innovating the consumption of fresh home-cooked food. In 2018, the company took a significant step by introducing the filter coffee decoction (liquid) category with the introduction of three distinct products. This was further followed by the unveiling of the iD Instant Coffee Breakfast Blend in 2022, solidifying their commitment to innovation and catering to diverse preferences.

Presently, the company serves a wide range of more than 45 cities, spanning across 30,000 retail outlets in countries including India, UAE, US, Canada, UK, Australia, EU, and Singapore. The brand’s comprehensive selection of natural and health-conscious products includes items such as Idly and Dosa Batter, Ragi Idly and Dosa Batter, Rice Rava Idly Batter, Malabar Parota, Wheat Parota, Wheat Chapati, Natural Paneer, Natural Thick Curd, ‘Squeeze and Fry’ Vada Batter, Smart Sip Tender Coconut, Grated Coconut in a Coconut, tailor-made blends of Instant Filter Coffee Liquid, and the iD Instant Coffee Breakfast Blend.

In the preceding year, iD Fresh secured INR 507 crore through a Series D funding round, marking one of the most substantial transactions within the food startup domain. The funding endeavor was spearheaded by NewQuest Capital Partners, a worldwide private equity company concentrating on the Asia-Pacific zone, in collaboration with existing investor Premji Invest.

The iD Coffee Decoction Bottle (250 ml) comes with a price tag of INR 199 and will be conveniently accessible on prominent eCommerce platforms as well as conventional retail establishments.

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Zomato charges customer INR 60 for food packaging in Ahmedabad; company responds to viral tweet

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SnackTeam
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Zomato packaging
(Representative Image)

Time and again, we witness instances where customers stumble upon inequitable charges imposed by food delivery applications, prompting them to voice their grievances on various social media platforms. The most recent case involves a woman in Ahmedabad who was taken aback by the breakdown of costs when she placed an order through Zomato. Expressing her dissatisfaction with the perceived unfairness of the charges associated with the food containers, she turned to Twitter, urging the food tech company to provide a comprehensive explanation for the billing.

Twitter account holder Khushboo Thakkar shared a snapshot of her receipt which outlined a payment of INR 180 for three portions of theplas, along with an extra INR 60 designated for the food containers. It’s worth highlighting that each serving of the dish was valued at INR 60, mirroring the cost of the container itself.

Expressing disbelief, she questioned, “Container charge is equivalent to the item that I have ordered ₹ 60 for the container charge. Seriously?” as she tagged both Zomato and Zomato Care.

In a short span of time, her tweet started gaining traction, igniting responses from fellow users. A multitude of individuals joined the conversation, offering their viewpoints on the issue. While a faction stood in solidarity with her, reproaching the restaurant, another faction argued that she should have taken a moment to appraise the packaging fees prior to finalizing her order.

“Additional charges makes us irritable…” commented a user. Another user provided insight, writing, “The zomato cost of Thepla is 60 which would have already a mark up of 20. The actual cost had u visited the restaurant would have been 35 to 40 so not only the container but u have already paid 60 odd rupees to zomato menu. This is the convenience charge.”

Even Zomato addressed the tweet, clarifying, “Hi Khushboo, while taxes are universal and vary from 5 percent to 18 percent depending on the type of food. Packaging charges are levied by our restaurant partners, they are the ones who implement and earn from this practice.”

In response, Thakkar stated, “I find the Rs 60 container charge excessive and unfair. Shouldn’t it be the restaurant’s responsibility to provide containers without extra cost to customers?”

Since being shared, the post has garnered considerable attention, amassing over 42K views.

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Essential items witness unprecedented demand, surpassing decade-high levels

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SnackTeam
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shopping
(Representative Image)

In the April-June quarter, there was a notable 8.5% year-on-year increase in purchases of daily groceries and essential items, marking the highest growth in the past ten years. This surge was driven by a strong recovery in rural markets and a significant rise in demand for various high-volume product categories, particularly atta.

Data from Kantar Worldpanel, a global consumer research firm under WPP, revealed that sales volume for fast-moving consumer goods (FMCG) experienced a 5.3% upswing in rural areas and a remarkable 12% increase in cities compared to the same period the previous year. Notably, urban sales had experienced a decline during that period, making the current growth even more striking. Additionally, consumption in villages also saw a modest growth of 2%.

Kantar conducts an analysis of real household consumption in terms of volume, encompassing both branded and unorganized products, which even includes bulk unpackaged goods. In contrast, Nielsen and Bizom predominantly focus on tracking retail sales and kirana orders, primarily within the branded product segment. It’s important to note that there exists a one-quarter lag between Kantar’s data and the companies’ primary sales figures, as reported by these businesses.

“Since Kantar tracks consumption at the household level and we book sales to our distributors, there is a quarter’s lag in the demand trend. As a result, we could see strong demand in our sales in the July-September quarter. There is a positive sentiment now, with no fear of El Nino due to heavy rains, and we expect volume driven growth going forward,” said Krishnarao Buddha, senior category head at Parle Products.

According to Kantar, atta, being a high-volume and frequently purchased category, holds considerable influence on the FMCG market. Notably, the government’s initiative of providing free food grains also plays a significant role in shaping the overall FMCG data, contributing to the impact of atta on the market trends.

“With the government stopping this scheme in December 2022, we saw shoppers returning in hoards into the atta category again, which is in turn causing serious FMCG growth. During the quarter, this growth is 8.5% and is truly unprecedented in nature, driven largely by urban areas,” said K Ramakrishnan, Managing Director, South Asia, Worldpanel Division, Kantar.

If we exclude atta from the calculation, the FMCG growth stood at 3.7%, as indicated by the same source. This trend aligns with data from Nielsen, which reported a 5% growth in the FMCG sector for the quarter, accompanied by a 2% increase in volume within the rural market.

“With this moderation in inflation, there has been an uptick in volumes in both urban and rural markets, indicating promising signs of recovery in demand,” said Mohit Malhotra, Chief Executive Officer at Dabur. “The recovery is seen in the market per se. It is not just Dabur recovery. Rural business across the board has recovered and there is a volume uptick which is being seen in the rural business.”

Companies noted that several factors, such as retail inflation decreasing to below 5%, a delayed onset of the monsoon, an increase in minimum support prices for kharif crops, and elevated government expenditures, are collectively fostering optimism for a gradual improvement in rural sentiment. The moderation in raw material costs has prompted many companies to reduce their product prices, potentially contributing to a growth trajectory driven by higher sales volume.

“While companies are taking price cuts in reaction to moderating commodity inflation, pricing growth has been tapering off sequentially, and therefore, growth in the coming quarters is likely to be led by volumes,” Saugata Gupta, Managing Director, Marico, told analysts.

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Australian Vintage brand McGuigan Wines launches accessible premium wine range in the UK

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SnackTeam
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McGuigan Wine
McGuigan Wine (Representative Image)

Australian Vintage, a well-known winemaker from Australia, has introduced the McGuigan Gold Label, setting a fresh benchmark for attainable luxury within the expanding premium wine sector.

Blending accessibility with top-tier quality, the new wine collection caters to individuals in search of an elevated experience for their at-home moments.

Recent findings by Wine Intelligence indicate that the portion of expenditure on premium wines (priced between £8 and £10) is on the rise, notably within the 35–55-year-old demographic.

McGuigan Wines has upheld its enduring dedication to crafting exceptional wines tailored to a diverse consumer base. With the imminent debut of McGuigan Gold Label in September, the winemaker strives to revolutionize approachable premium wines, setting a fresh pinnacle of quality that can be savored purely for the pleasure of it.

The unveiling of McGuigan Gold Label will feature two quintessential Australian wine varietals: Shiraz and Sauvignon Blanc. Each wine has been masterfully created to capture and showcase the distinct qualities inherent to its grape variety.

The freshly introduced McGuigan Gold Label collection is deliberately crafted to make a bold impression on the shelves while satisfying the consumer desire for a dependable progression beyond the cherished McGuigan Black Label.

Oliver Hoey, Brand manager at McGuigan Wines, said “We are thrilled to introduce the McGuigan Gold Label range, designed to elevate at-home occasions, and provide consumers with an accessible premium wine experience. We are seeing a growing trend for premium wines, particularly trade ups with brands they trust. We believe that everyone should have the opportunity to enjoy a touch of luxury, and the McGuigan Gold Label collection embodies that ethos.”

Beginning in September, the recently unveiled McGuigan Gold Label collection will be available at Sainsbury’s outlets across the nation, retailing at a recommended price of £10.00. This range features two standout offerings:

The Shiraz, characterized by its aromatic blend of dark fruits and spice, offers a delightful sensory experience. On the other hand, the Sauvignon Blanc showcases a lively composition with prominent citrus notes, particularly lime. These selections cater to consumers seeking both premium quality and distinct flavor profiles within the accessible luxury segment of wines.

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Monster Beverage to discontinue certain Bang Energy products after acquisition, focus on integration and rationalization

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SnackTeam
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Bang Energy
Bang Energy (Representative Image)

Monster Beverage has announced its intention to discontinue certain products from the recently procured energy drink label, Bang Energy.

Blast Asset Acquisition, a subsidiary of Monster Beverage, acquired Vital Pharmaceuticals, the owner of Bang Energy, for an estimated sum of $362 million.

Read More: Monster Beverage expands energy drink portfolio with Bang Energy acquisition

In a Q2 analyst call on Thursday, 3 August, Monster CEO Rodney said the company’s intention is to “rationalise Bang’s product offerings and product lines,” and to fully integrate the brand into the Monster infrastructure.

He said the company does not intend to sell Bang’s other lines, such as Red Line or Shots, “beyond liquidating existing inventories”. However, it may consider reintroducing certain product lines in the future.

Monster revealed that the distribution of Bang Energy will commence through the Coca-Cola bottlers’ network, beginning in the third quarter of 2023 in the United States. This transition is expected to lead to a “temporary interruption in product supply” for Bang Energy beverages.

He commented, “We are excited about our acquisition of the state-of-the-art Bang Energy production facility in Phoenix, Arizona, which we intend to utilise for Bang as well as other products in the Monster portfolio”.

The company expressed that the phase for Bang Energy is still in its initial stages, and it plans to share additional information about Bang Energy during its upcoming investor call scheduled for November.

Furthermore, subsequent to introducing The Beast Unleashed in the first half of 2023, Monster has intentions to unveil an extension called Nasty Beast Hardcore Tea, a hot iced tea variant, either later this year or in the early months of the upcoming year.

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Serious Sweets Company bolsters portfolio with acquisition of renowned Nom Bites brand

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SnackTeam
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Lexi
Lexi (Representative Image)

The Serious Sweets Company (SSC) has recently made a significant acquisition by taking over Nom Bites, a renowned brand known for its delectable marshmallow and protein bars under the Lexi’s line. The deal’s financial details have been kept confidential, but it marks a strategic move by SSC to expand its product portfolio and strengthen its position in the confectionery industry. With this acquisition, SSC aims to tap into new market segments and offer its customers an even wider range of delicious treats.

Established in the year 2020 by Alexei Khatiwada, Nom Bites specializes in crafting a diverse selection of health-conscious, allergy-friendly indulgences.

Meanwhile, SSC manufactures own-label treats for major UK retailers together with a successful international business. SSC Brands has been established to manage the branded side of the portfolio.

Rob Whitehead, MD at SSC, said, “We’re delighted to bring Lexi’s into our family and continue the journey that Alexei and Shama have brilliantly led. Gluten, dairy, and nut-free bars fit perfectly into our stable of current brands, enabling us to offer customers a combination of indulgent treats and more healthy treats, ideal for customers with specific dietary needs, or those looking for a healthier snack.”

He continued, “We will be sharing the range with our customers over the next few months and look forward to developing Lexi’s alongside all our brands over the next few years”.

Khatiwada added, “This acquisition marks an exciting milestone for Lexi’s, as we capitalise on the growing demand for our award-winning treats. I’m proud that Lexi’s has helped deliver more inclusive treats to a mainstream audience, and it’s been a pleasure to see the growth of the brand, which started in my home kitchen and has now sold millions of treats across the UK. I’m delighted to see SSC’s ambition and desire to grow the brand further and continue this exciting journey.”

Earlier this year, SSC purchased UK-based marshmallow brand Mallow & Marsh.

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PepsiCo India’s FY2022-2023 net profit soars to INR 255.75 Crore; unveils plans for new Assam snacks plant

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SnackTeam
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PepsiCo
Pepsi (Representative Image)

PepsiCo India witnessed a remarkable growth in its net profit for the fiscal year 2022-2023, reaching INR 255.75 crore compared to INR 27.87 crore in the previous fiscal year (2021-2022), achieving its sixth consecutive year of profitable expansion. The latest Registrar of Companies (RoC) filing reveals a substantial increase of approximately 29 percent in total revenue, reaching around INR 8,129 crore. The company’s forward-looking plans emphasize a dedicated commitment to strategic growth, highlighted by its intention to establish a new snacks plant in Assam, which will mark its fifth facility dedicated to snacks production.

Ahmed ElSheikh, the President of PepsiCo India, stated that even in the face of inflationary pressures, the company achieved robust double-digit revenue growth. This growth was well-diversified and bolstered by contributions from both the food and beverages segments.

“In the beverage segment, top-line growth was driven by a strong summer season and uptick in rural demand in FY23. We also focused on expanding distribution. In the foods segment, we saw an underlying volume growth backed by innovations such as Lays Gourmet and Doritos Sizzlin Hot. We also focused strongly on strengthening our presence in affordable pack prices such as INR 5 price,” he added.

He mentioned that the company successfully widened its margins, with profit growth being propelled by effective net revenue realization, enhanced productivity measures, and capitalizing on economies of scale.

“This is the decade of India. Factors such as strong GDP growth, increase in discretionary spends and low per-capita consumption levels will lead to a positive virtuous cycle,” he added.

The company indicated its intention to persist in escalating investments in brand development while also expanding its production capacity.

“We have charted out our growth plans for the next several years and have looked at the capacity that we need to deliver this growth. We need to be close to demand centres as well as agro-producing regions. So we are planning to set up a large-scale plant in Assam next,” ElSheikh added.

At present, the company operates four snacks plants located in Punjab, Maharashtra, Uttar Pradesh, and West Bengal.

“We have set a strategic direction for the organisation. On the one hand rural is a key growth driver and we need to focus on growing penetration by offering products at affordable price-points At the same time, to win in the top-100 cities, we need to strengthen our premiumisation,” he added.

Over the last couple of years, the company extended its distribution to an additional two lakh outlets.

When questioned about the challenges posed by the current summer season, ElSheikh mentioned that unanticipated rainfall had an impact on sales. However, he noted that June remained a resilient quarter. He further stated that although certain beverage categories traditionally thrive during the summer months, the company’s emphasis is on creating consumption opportunities that span the entire year.

“Fortunately, we have begun seeing the tail-end of inflation, but need to watch out for the impact of erratic weather on the next crop cycle. We have also begun seeing signs of recovery in rural demand,” he added.

Responding to a query on intensifying competition with the entry of Reliance, ElSheikh said, “Competition is healthy. It will help growing per-capita consumption levels and expand categories.”

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Tomato and chilli prices drive 34% surge in vegetarian and 13% increase in non-vegetarian thali costs in July: CRISIL Report

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thali
Thali (Representative Image)

The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.

According to the report, in July, the cost of cooking a vegetarian thali at home stood at INR 33.7 (June rate INR 26.3) whereas the cost of non-vegetarian home meal was at INR 66.8 (June rate INR 60).

According to CRISIL, a vegetarian thali comprises roti, vegetables (onion, tomato, and potato), rice, dal, curd, and salad. For a non-vegetarian thali, chicken has been considered instead of dal.

Broiler prices for July 2023 are estimated.

CRISIL said out of the 34 per cent rise in the cost of vegetarian meals, 25 per cent can be attributed to the 233 per cent hike in tomato price last month.

In June, the tomato price was INR 33/kg and shot up to INR 110/kg in July.

Tomatoes aside, the other ingredients that heated up the cost side last month as compared to June were the prices of onion that went up by 16 per cent, potato by 9 per cent, chilli 69 per cent, and cumin by 16 per cent.

However, given the lower quantities of these ingredients used in a thali, their cost contribution remains lower than some of the vegetable crops, CRISIL said.

On the other hand, the cost of a non-vegetarian thali rose at a slower pace as the price of broilers, comprising more than 50 per cent of the cost, likely declined 3-5 per cent on-month in July, the report notes. “

“A 2 per cent on-month decline in the price of vegetable oil provided some respite from the increase in cost of both thalis,” the report said.

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ITC, select Marriott International hotels elevate health-conscious dining with millet offerings in India, APAC

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SnackTeam
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Millet-based bread
Millet-based bread (Representative Image)

The ITC Hotels on Monday said it has embarked on an initiative to introduce an expansive range of millet-based bread, available across ITC Hotels and select Marriott International hotels in India and the Asia-Pacific (APAC) region.

In addition to that, the APAC region countries like Japan, South Korea, Australia, and Indonesia will also have access to other delectable millet-based food options.

It seeks to contribute significantly to India’s role in advocating the benefits of millets globally, commemorating 2023 as the International Year of Millets in partnership with the United Nations, the hotel chain said in a statement.

These millet bread, brimming with essential nutrients, cater to the discerning taste of health-conscious consumers, it said.

The menu showcases an array of delightful options, including Sorghum Sundried Tomato Sourdough Bread, Foxtail Millet and Carrot Bread, Multi Millet and Turmeric Loaf, and Pearl Millet Focaccia. Each of these delectable choices promises to deliver an exquisite and unforgettable culinary experience.

Beyond the realm of bread, the gastronomic journey extends to ITC’s millet-infused recipes gracing buffet spreads at select Marriott International hotels, the company said.

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Wow! Momo reports massive 2x revenue surge in FY2021-22, reaches INR 219.8 Crores

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SnackTeam
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Wow! Momo
Wow! Momo (Representative Image)

The well-known quick-service restaurant (QSR) chain, Wow! Momo, which is headquartered in Kolkata, experienced a significant increase in its operational revenue. In the financial year 2021-22, the company’s revenue surged by more than two times, reaching INR 219.8 Crores. This marked a substantial rise from its previous fiscal year’s revenue of INR 106 Crores.

The startup derives its revenue from the sale of food products via its restaurant establishments, which are located in more than 25 cities across India. Alongside its primary brand, Wow! Momo, the startup manages two additional brands – Wow! China and Wow! Chicken.

In the fiscal year 2021-22, the startup’s overall earnings, encompassing supplementary income, amounted to INR 222.1 Crores, showcasing a contrast to the INR 108.4 Crores recorded in the fiscal year 2020-21.

Despite the twofold increase in the top-line figure, Wow! Momo witnessed a more modest growth in its expenditures. As a result, the startup’s net loss decreased by 10%, reaching INR 53.4 Crores in the financial year 2021-22, compared to INR 59.4 Crores in the preceding fiscal year.

Total expenses experienced a 62% increase, rising to INR 274.5 Crores during FY22 from the FY21 figure of INR 169.1 Crores. Notably, the cost of materials consumed saw a substantial 95% surge, climbing from INR 48.7 Crores in FY21 to INR 95.3 Crores, thereby constituting the most significant component of expenses for the reviewed period.

Employee benefit expenditures surged by 76% to reach INR 51.3 Crores in the fiscal year 2021-22, displaying a substantial increase from the INR 29.1 Crores recorded in the previous fiscal year. These expenses encompass a range of components including employee wages, contributions to the provident fund (PF), gratuity, and various other welfare benefits for employees. According to information available on LinkedIn, Wow! Momo currently maintains a workforce of more than 1,000 employees.

In the fiscal year 2021-22, the startup allocated INR 29.6 Crores towards rental expenses, reflecting a substantial increase of 105% compared to the INR 14.4 Crores expended in the preceding fiscal year.

Established in 2008 by Binod Kumar Homagai, Sagar Daryani, and Shah Miftaur Rahman, Wow! Momo boasts a network of more than 500 outlets spanning across 25 Indian cities. In March of the current year, the startup unveiled its decision to consolidate its three brands, namely Wow! Momo, Wow! Chicken, and Wow! China, into a unified brand known as Wow! Eats.

In the previous year, the startup secured a funding of INR 125 Crores from OAKS Asset Management during its Series D funding round, valuing the company at INR 2,125 Crores ($257 million). Prior to this, Wow! Momo had obtained $15 million in its Series C funding round from Tree Line Management. The company is supported by prominent investors such as Tiger Global and Lighthouse.

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