New Delhi, Jan 2: According to the Assocham–TechSci research report, Yoga Guru Baba Ramdev’s Patanjali Ayurved’s brands have captured the imagination of the consumer market in India posing a tough challenge before the multi-national companies (MNCs) involving in production and trading of consumer durables.
The Assocham–TechSci research report says that amongst the most popular Patanjali consumer brands, toothpaste - Dant Kanti, Atta Noodles and Kesh Kanti have dented considerably into their competitors’ market share.
The Assocham–TechSci research report said, “Patanjali Ayurved has turned out to be the most disruptive force in the Indian FMCG market...it witnessed a whopping annual growth of 146% in the fiscal year 2016 grossing a turnover of $769 million, whereas its peers including ITC, Dabur, Hindustan Unilever, Colgate–Palmolive and Procter & Gamble struggled to get a growth much less than double digit.”
The report also mentioned that the company initially focused on the development of Ayurvedic medicines, but slowly endeavoured into manufacturing cosmetics and food items. With around 500 products of varied nature, many of them falling in the Fast Moving Consumer Goods (FMCG) category, the company has increased its market share in a significant manner eating into the share of its competitors.
Dant Kanti, the most famous toothpaste or Kesh Kanti, a hair conditioner, or Patanjali Atta Noodles are some of the brands to name that have become most popular amongst the consumers who had earlier used to consume different toothpaste brands like Colgate, Forhans etc., Maggie Noodles, and a variety of hair conditioners and shampoos.
The research paper mentioned that India is also emerging as a strong regional export hub for the domestic and multinational FMCG players leveraging the country’s cost competitiveness. In 2015, the total Indian FMCG market was $43 billion of which 60% is concentrated in urban areas while the rest is in the rural areas.
(Additional Inputs from agencies)