India’s one the leading packaged drinking water player was exploring the opportunities in the domestic market for expanding the product portfolio. Hence approached IKON for gaining fresh market insights to identify product opportunities.
Approach & Recommendations
We have begun with the desk research to collect and analyze the available data and information on the current market scenario and competing brands of packaged drinking water pan India. Simultaneously, first hand research plan was drawn to generate the deep insights focusing on consumption trends and demand from retail and institutional segments across the nation.
The assessment of the market revealed stiff competition in the case of packaged drinking water. There were more than thousands of regional specific brands having strong presence in their respective territories. Few organized players have nationwide presence, but facing competition from region specific brands. In case of retail sales, no any possible sales point left untapped where packaged drinking water is not available right from small poly pouches to 1 liter to 5 liter pet bottles. Apart from retail, there was emerging demand from Institution & HORECA segments for clean drinking water in bulk pack supply. The trend was emerging and non of the organized player paid serious attention towards this.
After completion of the market assessment, we generated the market insight, highlighting a clear set of current market trends, market potential, competition and emerging opportunities in case of a fast growing segment of institutional supply in bulk pack. We identified the product line extensions and presented to the client.
With our market insight, client had a clear picture of the current market scenario. Our insight helped client to take informed decision to expand its product portfolio. Within just 6 months, the client launched a bulk pack for the institutional supply gauging the market opportunity.