ITC is soon going to expand its Sunfeast Yippee! brand of instant noodles into the atta-based variant and will create a complete portfolio of such products including a multigrain one to build a heath quotient for a category which recently was shrouded in controversy regarding product safety.
The move is also aimed at accelerating the brand to attain the Rs 1,000 crore sales mark this fiscal, two senior industry officials said. This is also in line with ITC chairman YC Deveshwar's plans to focus on health and nutritious food products. The officials said ITC will launch atta noodles next month, which will be priced at around 20 per cent premium taking the competition straight to market leader Nestle's Maggi which recently relaunched the atta variant and Patanjali.
As per last publicly available data, ITC is the second largest brand in instant noodles with around 33-34 per cent market share having gained ground when Maggi was off-the-shelves for few months last year due to a temporary ban by the nation's food regulator. After its relaunch, Maggi continues to dominate more than half of the Rs 2,000 crore instant noodles market.