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Sunpure forays into packaged jaggery market
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Wednesday, 22 November, 2023, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Sunpure, South India’s largest edible oil brand, has forayed into a new product category – packaged jaggery. Sunpure Jaggery Powder and Sunpure Jaggery Block are available in 500g packs. It is launched in Bengaluru and Mumbai, as a part of the company’s effort to become India's favourite food brand that advocates chemical & preservative-free healthy living. The company also will introduce the new products to all its existing markets across Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa and Tamil Nadu over the next one month.
MK Agrotech, the parent company, has said that it plans to become a Pan-India FMCG brand that empowers Indian consumers to embrace healthy living. Given that Indian consumers are becoming increasingly health conscious and looking to replace refined, white sugar in their diets with a healthier alternative, the company decided to venture into the new segment with jaggery, stated a communique from the company.
The packaged jaggery market in India touched Rs 55.6 billion in 2022, as per market reports. By 2028, it is expected to reach Rs 122.1 billion, exhibiting a growth rate (CAGR) of 14.1% during the five-year period. It aims to clock a revenue of Rs 120 crore per annum in the segment. In Mumbai, the products have been launched under Riso Jaggery powder and Riso jaggery block. In February this year, it had acquired Riso, a premium edible oil brand in Maharashtra to strengthen its position in the Western market.
Sridhar Vaidyanathan, chief operating officer, MK Agrotech, said, “India is one of the leading exporters of jaggery in the world and the domestic market for packaged jaggery is ripe for disruption. With mounting health concerns due to growing incidence of diabetes, heart diseases and obesity-related issues, more and more Indian consumers today are replacing white sugar with jaggery, an unrefined natural sweetener made from sugarcane juice. What’s more, jaggery also offers numerous nutritional benefits, making it a healthy addition to the household pantry staples.”
Mannan Khan, director, MK Agrotech, said, “Unlike traditional jaggery sold in open markets or other packaged jaggery products available in the market, Sunpure Jaggery’s USP is that it is produced using traditional methods with skilled manpower in hygienic conditions, and without the use of any harmful chemicals, artificial colours, or commonly used preservatives. You may notice that Sunpure Jaggery is darker in colour due to the absence of bleaching agents; it is 100% natural and safe.”
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