The packaged wheat flour market in India is growing at a compounded annual growth rate of 19 per cent, according to the Ikon Marketing Consultant report. As per the Ikon report, ITC's Aashirvaad is the leader in the branded wheat flour market in India with more than 35 per cent share.
In the branded packaged wheat flour segment, ITC is the market leader with more than 35 per cent share. Shakti Bhog Atta is a distant second at 12 per cent according to market consulting firm Ikon Marketing Consultants.
The packaged wheat flour market in India is growing at a CAGR of 19% over the past three years and may likely to be double the current size by end of this decade, according to IKON Marketing Consultant’s latest pan India research ‘The Indian Packaged Wheat Flour (Atta) Market – Breaking the Traditions’.
The market size of packaged wheat flour is estimated to be Rs 7,500 crore in the current fiscal (2015-16) and by the end of this decade(in 2020), it is estimated to double and may touch Rs 15,500 mark," the report by Gujarat-based marketing consultant firm IKON said..
"Though the market is growing at healthy double digit, still platinum jewellery has been adopted by upper class urban segment,” said Azaz Motiwala, CMD, Ikon Marketing Consultants.He said increased visibility in retail stores may lead to increase in adoption rate of platinum jewellery.
Azaz Motiwala, founder & chairman and managing director of IKON Marketing Consultants, said, “Increased affluence and lifestyle diseases and change in consumer perception and mindset, increase in awareness about extra supplements among consumers, increasing health consciousness along with rising healthcare cost are paving way for growth of Indian nutraceuticals market.
Indian nutraceutical companies have been watching a nascent industry mature over the last couple of years, and now recently released figures have backed up the boom. According to Ikon, the market research agency, the nutraceutical industry is expected to double over the next five years, and some of this growth will be supported by traditional pharmaceutical companies moving into nutrition.
The domestic nutraceutical market could have grown five-fold by 2020 since the beginning of the current decade with possible domination by functional food and beverages segments, according to a research conducted by Ikon Marketing Consultants.
There is a general perception among consumers that government-owned brands are more trustworthy. The middle class and lower-middle class people mainly consume these products. They may not find shelf space in upper-middle class houses," says Azaz Motiwala, chairman and managing director, IKON Marketing Consultant, a strategic marketing solutions firm.
The consumption of bottled water in India has shown a jump of 21 per cent in last fiscal but still India is far behind as compared to global average, according to a research recently conducted by leading marketing consulting firm IKON.