ITC bets big on protein-rich foods eyes fast-growing health segment market

Bengaluru, Apr 19 (PTI) Diversified conglomerate ITC Ltd is amplifying its play in the protein food segment, as part of its strategy to expand in the fast-growing health and wellness space, its Chief Executive of the Food division and Executive Director Hemant Malik said.
     ITC has introduced unique protein-focused products across multiple categories, in which it has leveraged consumer insights, innovation, and traceable sourcing strengths to build a differentiated portfolio in the fast-growing health segment.
     With consumer preferences shifting rapidly, ITC expects its health-focused portfolio to play a significant role in driving future growth, particularly in protein-based foods that address evolving dietary needs, he said.
     The focus of the company is to democratise protein products and make them affordable for consumers.
     "Health is one of the fastest-growing segments, and we are closely monitoring the emerging consumer needs in this space," Malik told PTI during an interaction here.
     With its food staples brand Aashirvaad, nutrition brand 'Right Shift' and Yoga Bar, a brand which was acquired by the company, ITC is strengthening its protein play with the launch of a diverse range of protein-rich foods.
     "We have introduced unique protein-focused products across multiple categories for different consumer cohorts in simple formats that can be easily added to daily meals," he said, adding, "We will soon be launching high-protein chips, plant-protein shakes and more."
     In Aashirvaad, it has introduced high-protein atta, while in Yoga Bar it now has a diversified protein-led portfolio spanning from protein bars, snacks, oats, ready-to-drink shakes, high-protein, etc.
     Besides, it has also extended its brand Sunfeast, in the protein segment, where it has fortified Breakfast Smoothie, a ready-to-drink beverage with 6 grams of protein, the amount which is found in one boiled egg.
     Underlining the importance of protein in daily diets, Malik said, unlike fat and carbohydrates, the body lacks a storage mechanism for protein.
     "Therefore, it is imperative that every meal is protein-rich to maintain muscle mass and repair tissues," he said.
     The company is witnessing encouraging consumer response to its 'Better-for-you' products that combine science-backed nutrition with taste and quality.
     "We expect to see a growing contribution from this segment, including from our protein range, going forward," he added.
     According to Malik, in line with emerging consumer trends, health and wellness have been a key focus area at ITC.
     Now the thrust of ITC is on "democratising nutrition" for Indian consumers, with the help of its R&D capabilities and its institutional strengths to develop an innovative product portfolio across categories to deliver healthier value-added food offerings.
     ITC's branded packaged foods business is one of the fastest growing food businesses in India, where it operates with a host of brands, including Aashirvaad, Sunrise, Bingo! Sunfeast, Fabelle, Sunbean, Yippee!, B Natural, ITC Master Chef, and Farmland.

(This story has not been edited by THE WEEK and is auto-generated from PTI)