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7/16/21

Rajkot's Balaji Wafers will now take on Maggie, for Rs. Ready to make a splash in the Rs 10,000 crore noodles market





Collision:



A look at Balaji's new segment after inflating PepsiCo in the wafer market
Nestle Maggie has more than 60% share in the Indian noodles market



Balaji Wafers Pvt Ltd of Rajkot, which makes wafers and packed snacks, is competing with big brands including PepsiCo in the wafer market and now the company will also compete with Maggie, the king of noodles in the coming days. The company launched masala noodles under the Gippy brand name in July 2019 and in just 2 years the company has reached 11 states in India. Although its product portfolio and quantity are still very small, the company will increase it in the coming years.

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"We were not moving forward with Gippy in Covid's position, but now that the situation is improving, we will consider re-launching the Gippy brand in the coming days," said Keur Virani, director , Balaji Wafers. Our experience so far has been good. There is a good response from customers, so a new plant is also being considered. We hope that the growth will be good.

Balaji still sells Gippy Noodles in local retail stores (file photo).

"Demand is growing at a rate of 12-15% per annum
," said Keur Virani. Balaji Wafers started making noodles in 2019 at its Rajkot plant. The company started a plant with a capacity of 500 tonnes of noodles a month and today it is being sold in 11 states. Capacity is being fully utilized today due to the gradual increase in demand.

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Instant noodles in India cost Rs. 10,000 crore market
According to a report, the market size of India's instant noodles is around Rs. 10,000 crore and is growing at a rate of 18% per annum. By 2035, the noodles market will be Rs. Experts believe that it will cross Rs 21,000 crore. Nestle's Maggie brand has more than 60% share in the instant noodles market, followed by ITC Sunfist Yippy Noodles. In addition, Hindustan Unilever's Nor Supai Noodles are also popular in the market.

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"We are launching a big pack for the malls- hypermarket," said Keur Virani. Yet it only sells in retail grocery shops or neighborhood stores. Large packs have to be brought for sale in malls or hypermarkets. We are also planning on this. We will also launch large packs of noodles to suit malls and hyper stores to increase market reach.

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Balaji 6 times smaller than Nestle
Nestle is a multinational company originally from Switzerland. Its Indian subsidiary Nestle India has a turnover of Rs. 13,350 crore. Against this, the turnover of Balaji Wafers is Rs. 2000 crore, which means that Balaji is 6 times smaller than Nestle. However, as a company, Balaji has been outperforming its multinational rivals. Experts believe that the price control of the product is Balaji's biggest strength and that is why the company is competing well with big players including PepsiCo today.

Maggie's monopoly in the Indian noodles market is still the same today (file photo).


Read in Gujarati news 

The company will set up a food park in Uttar Pradesh.
"We have seen some places near Lucknow in Uttar Pradesh and a decision will be taken soon," he said. In the 100 acre food park project, we spent about Rs. 600-700 crore. We will raise some of this investment from internal sources, while some funds will be managed from banks. The company started its first plant outside Gujarat in Indore, Madhya Pradesh. The plant was started in October 2016. The company has invested about Rs. Invested Rs 400 crore.

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