Sunpure, an edible oil company, presents packed jaggery as a new product category. Sunpure Jaggery Powder and Sunpure Jaggery Block are both available. In the next month, the business plans to spread the new items into its current markets in Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa, and Tamil Nadu.
Sunpure’s parent firm, MK Agrotech, is a Karnataka-based organization dedicated to merging technology and tradition in the food industry. The firm intends to establish itself as a pan-India FMCG brand. Given Indian customers’ increased health awareness and demand for healthier alternatives to refined white sugar, the business chose to join the new category with Sunpure Jaggery.
“India is one of the leading exporters of jaggery in the world and the domestic market for packaged jaggery is ripe for disruption. With mounting health concerns due to the growing incidence of diabetes, heart diseases, and obesity-related issues, more and more Indian consumers today are replacing white sugar with jaggery, an unrefined natural sweetener made from sugarcane juice. What’s more, jaggery also offers numerous nutritional benefits, making it a healthy addition to the household pantry staples,” Sridhar Vaidyanathan, chief operating officer, of MK Agrotech, said.
The packaged jaggery market in India reached Rs 55.6 billion in 2022 and is expected to reach Rs 122.1 billion by 2028, with a five-year growth rate of 14.1%. Sunpure’s revenue target in this category is Rs 120 crores per year. In Mumbai, the items are known as Riso Jaggery powder and Riso Jaggery block. Sunpure purchased Riso, a premium edible oil brand based in Maharashtra, in February of this year in order to expand its position in the Western market.
In 2022, the Indian edible oil market is expected to reach 24.3 million tons. According to IMARC Group’s report, the leading firms in India’s edible oil market are concentrating on extending their portfolio by offering new and creative products, such as blended oils, which combine the benefits of several oils into a single product.
India is a large country, and the residents of many of its regions have developed a preference for certain oils, mostly based on the oils available in the area.
