18 Oct , 2022 By : Monika Singh
Since the pandemic, 82% of respondents have begun to incorporate more wholesome breakfasts especially multigrain such as oats in their approach towards healthy ageing, as per a study conducted by Euromonitor International and Quaker, a PepsiCo-owned brand. “The pandemic was a generator of interest in oats and meals that include such grains. With the rise in accessibility, the move towards whole grains is a larger phenomenon and does not just exist in the urban space,” Sonam B Vij, associate director and category lead, Quaker, PepsiCo India, told BrandWagon Online. Quaker recently entered the ready-to-eat segment with the launch of its breakfast offering, Quaker Oats Muesli.
As per the company, its new offering Quaker Oats Muesli is directed towards urban millennials on the lookout for convenience when it comes to breakfast options. Launched in two variants, Fruit and Nut is available in 700 gm for Rs 440 and Berries and Seeds in 700 gm for Rs 460 on retail and e-commerce platforms across key markets in India. “Eating a wholesome breakfast that is easy to make and has numerous benefits is an important emerging trend. Complementing this trend is the fact that the ready-to-eat cereal market has been witnessing an upward growth trend in India, with demand for muesli constantly increasing,” Vij stated.
According to industry data, the breakfast cereal (BFC) category in India is seeing a compound annual growth rate (CAGR) of 6-8%. The subcategory of muesli has emerged as one of the fastest growing segments in the market with a 16-18% compound annual growth rate (CAGR). Muesli has an estimated market size of Rs 275 crore and constitutes around 15% of the BFC category. For Vij, the aim of the launch is to encourage consumers to have breakfast on time and stay on track with their nutritional needs.
The company further stated that its new launch is in line with the festive season as it looks to bank on the purchasing sentiment of Indian consumers. It aims to launch a new campaign by November on its new muesli range. For the campaign, the company plans to opt for an omnichannel strategy with a focus on digital platforms as well as across modern trade, retail presence, and amplification through above-the-line (ATL) marketing.
To be noted, the survey conducted to better understand the overall well-being of Indian consumers also highlighted that since the pandemic, over 90% of respondents have started adopting habits that support healthy ageing. The study indicated that over 70% of respondents have improved their nutrition intake, with 44% consuming vitamins or supplements daily.
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