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By Our Staff Correspondent
MUMBAI, FEB. 1. The Indian branded food and beverages market grew by over 5 per cent in 2004 according to the findings presented in the latest ACNielsen Global Services report on global trends in food and beverage. This growth rate outpaces the global average growth rate of 4 per cent for food and beverage across markets studied by ACNielsen. The study, `What's Hot around the Globe — Insights on Growth in Food and Beverages 2004,' is based on retail purchases in 89 categories across 59 markets spanning Asia Pacific, the emerging markets, Europe, Latin America and North America. Information was collected for the 12 months ended July 2004 and compared to the pervious 12-month period. "If one looks specifically at the categories present in India which can be compared with what is available on retail shelves across the globe, it is clearly a case of aggregates camouflaging the scorching growth rates experienced by individual product categories,'' said Sujit Das Munshi, Executive Director for retail measurement services, ACNielsen South Asia. A closer study of what is moving off retail shop shelves in India indicates key leading trends that are bound to dictate the medium to long-term trend in the Indian market. "In line with global trends, the need for convenience and a greater desire of healthier product alternatives is precipitating the growth in categories such as convenience foods, impulse foods and non-carbonate soft drinks,'' said Mr. Das Munshi. An increased preference for healthier product alternatives appears to be stemming from a greater health-consciousness and is further heightened by rapidly evolving work and lifestyle habits in a manner that has increased the consumption of product categories such as non-carbonated soft drinks and breakfast cereals. External developments and environmental factors too have a large part to play in deciding the course of these categories.
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