Nestle India's Impressive Double-Digit Growth in Rapidly Expanding Market

Nestle India has achieved significant double-digit growth in one of the fastest-growing markets. The company leverages existing competencies and invests in new areas, strengthening its market leadership for products like Maggi and Kit Kat. Despite economic challenges, Nestle's brands recorded consistent growth, solidifying India's importance for the company.

PTI | New Delhi | Updated: 17-06-2024 23:06 IST | Created: 17-06-2024 23:06 IST
Nestle India's Impressive Double-Digit Growth in Rapidly Expanding Market
AI Generated Representative Image
  • Country:
  • India

Nestle India has emerged as a top performer within the global food and beverage giant, achieving notable double-digit growth. The local subsidiary's success is driven by leveraging existing strengths and investing in new opportunities, according to the latest annual report.

India now stands as Nestle's largest market for Maggi and the second-largest for Kit Kat. Innovation, premiumisation, and disciplined resource allocation are key to this growth. Innovation product sales increased from 3% in 2018 to over 6% in 2023.

Despite challenges like food inflation and volatile commodity prices, Nestle's key brands have shown consistent growth. The company aims to invest Rs 7,500 crore by 2025 to expand capabilities and sustain innovation. The board also decided to maintain the royalty payment to its parent company at the current rate, affirming India's strategic importance.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback