Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

ITC's Hemant Malik expects robust growth from health and wellness products

In line with other industry players, ITC has witnessed growth in their premium health and wellness products segment, but the lower-end was impacted due to a slowdown.

August 29, 2019 / 09:55 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

With more consumers getting health conscious, ITC is betting big on health and wellness products.

"The shift from health and wellness products is coming across very important in each of our categories.We have launched protein snacks and some more," said Hemant Malik, Chief Executive Officer-Food Division, ITC.

However, he acknowledged that the company was facing challenges with high sugar and salt content in the products.

Speaking at a panel discussion at FICCI FoodWorld India 2019 held in Mumbai, Malik said that ITC's snacks business was growing at a rapid pace of 25 percent over the years, but now it has slowed to 17-18 percent due to a slowdown in the economy.

In line with other industry players, ITC also witnessed growth in their premium segment, but the lower-end was impacted due to the slowdown.

"On premium, the growth has continued but on mass and basic growth has slowed down. Still we are not far from double digit growth from the industry," Malik said.

Moneycontrol News
first published: Aug 29, 2019 09:55 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347