Company aims to clock a revenue of Rs 120 crores per annum in the segment.
Bengaluru based Sunpure, South India’s largest edible oil brand, today announced its foray into a new product category – packaged jaggery. Sunpure Jaggery Powder and Sunpure Jaggery Block (available in 500g packs) have been launched in Bengaluru and Mumbai, as a part of the company’s vision to become India’s favourite food brand that advocates chemical & preservative-free healthy living. The company will introduce the new products to all its existing markets across Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa and Tamil Nadu over the next one month.
MK Agrotech, the parent company of Sunpure, is a Karnataka-based organisation known for bringing together the best of technology and tradition in the food space. The company has ambitious plans to become a Pan-India FMCG brand that empowers Indian consumers to embrace healthy living. Given that Indian consumers are becoming increasingly health conscious and looking to replace refined, white sugar in their diets with a healthier alternative, the company decided to venture into the new segment with Sunpure Jaggery.
The packaged jaggery market in India touched Rs 55.6 billion in 2022, as per market reports. By 2028, it is expected to reach Rs 122.1 billion, exhibiting a growth rate (CAGR) of 14.1 per cent during the five-year period. Sunpure aims to clock a revenue of Rs 120 crores per annum in the segment. In Mumbai, the products have been launched under Riso Jaggery powder and Riso Jaggery block. In February this year, Sunpure had acquired Riso, a premium edible oil brand in Maharashtra to strengthen its position in the Western market.
Commenting on the product launch, Sridhar Vaidyanathan, Chief Operating Officer, MK Agrotech, said, “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 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.”
