Reformulate to enter emerging markets
Heinz’s growing popularity in India should give other global food brands the inspiration to alter or develop products for emerging markets.
The burgeoning population of young people with a relatively high disposable income in urban centres across India was boosting demand for western products, but they still had to appeal to their specific tastes, according to recent research from Canadean.
Heinz’s foods were rapidly increasing in popularity across India. Sales grew from $4M in 2010 to $6M in 2013, Canadean said.
Opportunity
Even the firm’s tomato ketchup, which is popular in the west, represented an attractive opportunity to the Indian market, if the right blend of sweetness and spice could be achieved, it claimed.
“Larger western foodservice outlets, such as McDonalds and KFC, have altered their menu to include spicier products to appeal to the Indian palate,” Canadean added.
