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Beverage and foods major PepsiCo India has continued to expand its product offerings in India and is looking to capture a larger share of the potato-based chips market.
“We have seen an acceleration of the potato-based chips category in the pandemic, with in-home consumption going up. The category is also facing more headwinds with increased competition,” said Saumya Rathor, category lead, potato chips at PepsiCo India.
The potato chips market is valued at Rs 9,000 crore, with PepsiCo’s Lay’s brand as the dominant player.
“We have seen muted category growth for the last few quarters. We grew at high single digits in the last quarter and want to take that up to high double digits in the coming future,” said Rathor.
The company has expanded its offerings in the category with the launch of Lay’s Shapez Heartiez, which will also play in the pellet-based chip market, which, as per its internal estimates, is valued at Rs 1,800 crore and growing at 18 per cent. PepsiCo's Kurkure brand already has a significant play in the pellet-based chips market.
“We are very ambitious with the product and want to grow in double digits with it, with the first set of demand coming from the mega cities,” Rathor told Business Standard.
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The company had earlier expanded offerings in the category with the launch of Lay’s Gourmet and Lay’s Sizzlin Hot in 2022. In a call with investors earlier this month, the US-headquartered food and beverage giant said that it had gained market share in the savoury snacks category in India in 2023.
