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Aug, 06 2018

Maggi touches pre-crisis level in value terms, attains over 60% market share

Maggi as of now contributes around one-third of the total sales of the company.

Maggi, an  instant noodles brand by Nestle India has gained over 60 per cent market share in terms of value after facing legal battles and has almost touched the pre-crisis level, said a top company official. However, volume-wise Maggi is still away from the pre-crisis period, when Nestle used to dominate the market with 75 per cent market share.

"We are little over 60 per cent (market share). In business terms, we are almost back to where we were (in terms of pre-crisis). In value terms, we are almost back there," said Nestle India Chairman and Managing Director Suresh Narayanan.

He further said, "We still have some time to catch up that pre-crisis volume."

Maggi as of now contributes around one-third of the total sales of the company.

"Total contribution from the prepared foods (Maggi and Maggi franchise) is about 30 per cent," said Narayanan in a media roundtable here.

Nestle India had in 2017 crossed the Rs 10,000-crore sales mark.

Food Safety and Standards Authority of India (FSSAI) had banned Maggi in June 2015 for five months for allegedly containing lead beyond permissible limits, forcing Nestle India to withdraw the product from the market.

After overcoming the legal battles, the popular noodles brand was back in the market in November 2015.

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