LT Foods Ltd on Monday announced its venture into around Rs 1,000 crore Indian premium and healthy snacks segment, which is still at nascent stage, with the launch of 'Kari Kari' in the domestic market.
Kari Kari is a crunchy, light, healthy and premium rice snack.
The company also plans to roll out more products within the premium category in future to broaden the offerings to wider genre, the company said.
Daawat-Kameda (India) Pvt Ltd, a joint venture company between LT Foods Limited and Japan's rice crackers company Kameda Seika launched 'Kari Kari', LT Foods Ltd Chairman & Managing Director Vijay Kumar Arora told reporters here.
"Based on changing consumer needs and preferences and the demand for tasty and healthy snacks, the company has ventured into the premium snacks category in India with its rice based snacks 'Kari Kari'," he said.
The premium snacks category is growing at a rate of 20-25 per cent per annum in the country.
"There is a huge opportunity in the fast growing premium segment, which has seen many new Indian and global entrants in recent years. The focus is on evolving consumer preferences to healthy and innovative flavours and formats," the company said.