Parle company aims to be a total food company by filling in the gaps in its offerings.
India’s leading biscuits and confectionery maker, Parle Products, is planning to consolidate its position in the Indian market. The company aims to double its turnover in the next five years.
“If you look at Parle as a company, we have always been known for biscuits and confectionery. But we have got into quite a few categories over the last two years. We have entered into the bakery items segment like cakes and rusk, high-end chocolates, snacks and of late into pulses. So, I think now is the time to consolidate before we move forward and get into new categories," said Mayank Shah, Category Head, Parle Products in an interview.
“Quite a few categories are moving over from unorganised to organised segments since consumers have started moving from unorganised to organised segments. One category which has seen conversion is bakery items. Then there are categories like gluten-free products, which have small and niche markets. However, we are at least a decade away from getting into that kind of specialised offerings. These categories are too small for big players like us to cater to," he further added.
Going further, the company aims to be a total food company by filling in the gaps in its offerings.
“Eventually, we are looking at several other categories and whenever and wherever there are opportunities, we would grow into a total food company,” he further said.