Year 2015 was good for domestic companies such as Amul, Mother Dairy, Britannia, Parle Products, etc as they had an edge over multinational firms.As per Euromonitor, a market researcher, home-grown firms lead India’s packaged foods sector in 2015.
According to the data, Mondelez, Nestle and PepsiCo were the only three companies to figure in the top 10 players by market share across packaged foods.
The market researcher stated that the Indian packaged foods market stood at Rs 2,572 billion last calendar, 15% up from Rs 2,232 billion in 2014.
"Domestic manufacturers dominated packaged food in 2015, whereas international players still have to understand the dynamics of the Indian consumer mindset. Domestic manufacturers are also increasing their product portfolios," Euromonitor International research analyst Manjunath Reddy told ET.
Even Gujarat Cooperative Milk Marketing Federation (GCMMF) registered a turnover of Rs 23,000 crore for 2015-16, an increase of 11% over the previous year, due to better prices and natural ingredients.
"Responsiveness to changing consumer mindsets and focus on local tastes and flavours is what is helping us drive top lines," Mother Dairy Fruit & Vegetable managing director S Nagarajan told ET.