The company has launched more than 140 items in India in the last eight years, and between 2020 and 2025, it intends to invest ₹7,500 crore. As per the Nestle annual report, Business Standard, India accounted for six billion servings of Maggi in the fiscal year 2023-24, making it the company’s largest market.
As per the article, Nestle India declared revenues of ₹24,275 crore for the quarter that concluded on March 31, 2024.
With a high double digit growth rate, India is also one of the company’s fastest growing markets globally, according to the article.
The company reported that the balance of its product mix, the price increases and volume growth of Maggi noodles and Maggi Masala-ae-Magic, among other reasons, contributed to the robust development of its prepared foods and cooking aids business in India.
According to the story, the corporation intends to invest ₹7,500 crore between 2020 and 2025, having launched over 140 goods in India over the previous eight years.
However, Maggi has generated criticism in India. The noodles were subject to a five-month ban in June 2015 due to claims that their levels of lead were significantly higher than allowed.
Maggi’s 80% market share in Indian noodles was completely destroyed by this, falling to zero in less than a month. The article stated that even after almost ten years, it still finds it difficult to make up ground because of growing rivalry from new competitors.
Nestle India also reported that India is now its second-largest market, having sold 4.2 billion fingers of the well-known chocolate KitKat.
