Euromonitor Ranks Ruchi Soya In India’s ‘Top 5 Packaged Food Companies’
Euromonitor, one of the leading global research firms, has ranked Ruchi Soya in the ‘Top 5 Packaged Food Companies’ in India. One of the leading FMCG companies in India, Ruchi Soya is known for its edible cooking oil and soy food products. According to Euromonitor, the company has surpassed other big FMCG players such as Parle, Mondelez India, Nestle India and ITC.
Speaking about the company’s ranking as one of the top FMCG players in the country, Satendra Aggarwal, COO of Ruchi Soya Industries Limited, said, “The report is a testimony of consumer’s trust and increasing popularity of Ruchi Soya’s brands like Nutrela, Sunrich, Mahakosh, Ruchi Gold and Ruchi Star. Over the last three years, our performance has been very good in the packaged food category where we have achieved double-digit volume growth. We expect this high growth rate to continue in future as well. By 2020, we are confident that we will be the second-largest packaged food company in the country.”
Taking The Spot
Ruchi Soya currently ranks behind Amul, with the company maintaining a strong lead in the packaged foods market with 7.2 percent retail value share. Mother Dairy and Britannia are firmly in second and the third place respectively. According to Euromonitor, domestic manufacturers have taken a strong hold in this specific sector with many international brands still trying “to understand the dynamics of the Indian consumer mindset.”
Ruchi Soya currently has several top brands in its portfolio, including cooking oils such as Ruchi Gold and Sun Rich and soya food products, Nutrela chunks.