With at-home consumption becoming the new normal during the ongoing COVID-19 pandemic, Mondelez India, the maker of India’s favorite Cadbury chocolates, is ramping up its product portfolio by entering into the packed-cakes segment.

According to sources familiar with the knowledge of the matter, the company is extending Cadbury to the packed-cakes segment and plans to introduce Chocobakes, priced at ₹10 for a single pack, and ₹60 for multi-pack. At first, it will be available on online grocery store Grofers and later will be rolled out across general and modern trade.

Mondelez, which owns Bournvita and Oreo cookies brands, was a late entrant in the biscuit market in the nation, but it has been slowly developing a strong portfolio since 2011. Reliable sources cite that the India FMCG market is anticipated to grow at 5% to 6% in FY20.

Speaking on which, Udhanshu Nagpal, the Associate Marketing Director for biscuits at Mondelez said that the company would continue to seize opportunities in the market as consumers are spending more time in homes and are more cautious about what they are consuming.

Since the end of the March, biscuits segment has witnessed strong demand, Mr. Nagpal said adding that rival companies like Parle Products Pvt. Ltd and Britannia Industries Ltd reported record growth in sales of their biscuit brands.

Mr. Nagpal further added that the company would not hold its plans and move forward to ensure the right snacks reach the customers. The company is going back to the investment mode and would make big moves as it move forward with new launches, he states.

Meanwhile, Rival Britannia recorded 20% and 28% increase in sales in April and May respectively. On Tuesday, Marketing head of Britannia Industries Vinay Subramanyam, said that its popular brand Marie Gold grew significantly.

Source Credit –https://www.livemint.com/companies/news/mondelez-forays-into-cakes-as-it-bets-on-a-rise-in-home-snacking-11593526788366.html