ITC's Aashirvaad atta now a Rs 4K cr brand... with 28% market share
New Delhi: FMCG major ITC on Tuesday said its Aashirvaad atta has become a Rs 4,000-crore brand in the wheat flour market, with around 28 per cent share in the branded segment.
The company as part of its expansion plans is also expanding brand Aashirvaad into new segments as milk and ghee in the dairy category, besides spices, instant mixes, ready meals etc.
"Aashirvaad is India's number one branded packaged atta with a consumer spend of over Rs 4,200 crore," ITC Divisional Chief Executive Foods Division Hemant Malik said.
He further said: "The brand has been growing at the rate of 16-17 per cent CAGR over the last many years and we hope to continue this growth momentum."
In India, branded wheat flour market is growing rapidly; and presently, around 60 per cent of households purchase wheat, 25 per cent buy loose wheat flour and balance 15 per cent buys packaged wheat flour, Malik said.
"We are having 28 per cent share of that (packaged wheat flour)," he claimed.
The company, he said, is now offering customised atta blends in wheat flour category in accordance with regional preferences; and in health segment, it has sugar release control atta, and multi grains etc.
"We have customised blends for different regions. We have also crafted variants in the health and wellness space which includes Aashirvaad Multigrain atta and Aashirvaad Sugar Release control atta," he said.
The company has extended Aashirwad brand into cow ghee and also launched Aashirwad milk last month in Munger at Bihar.
"Now the brand Aashirvaad has spices and salt. All the basic staple food, we believe that Aashirvaad brand has a great efficiency," Malik said adding that the company is leveraging its network of e-Chaupal and chaupal sagar to source quality products from the farmers.
The company is also evaluating some other segments like maida, suji, besan for expansion of Aashirwad brand.
"In the coming years, we could look at products as maida, suji, besan etc," said Malik.
Besides, ITC also exports Aashirwad atta to 32 countries, including US, Canada and Middle East, targeting the Indian diaspora. The export is presently about 7 per cent of total sales.
Over the recent videos being circulated in social media platforms such as Whatsapp and Facebook alleging the company mixes plastic in Aashirvaad atta, ITC said those are "malicious" and are "wrongly" claimed.
"What is being shown as plastic in these mischievous videos is actually wheat protein which is a mandated component of atta by the FSSAI. Protein is an integral part of any atta/wheat. This protein is what binds the atta. Without this protein, it is not possible to roll chapatis," Malik said.