Things are changing fast in this world and in a country like India, things are changing at double the speed. Categories that weren't in the market a few years ago are growing fast and categories that were since long considered saturated are getting a new lease of life.
BestMediaInfo.com spoke to industry experts such as M G Parameswaran, Brand Strategist and Founder, Brand-Building.com and Saurabh Uboweja, Brand Expert and CEO, Brands of Desire to bring out a list of some of the budding categories in India today.
Natural and ayurvedic:
India has had a long tradition of Ayurveda but nobody was able to leverage the idea like Patanjali did. The brand helmed by yoga guru Baba Ramdev has captured the imagination of the nation with its natural and ‘swadesi’ promise. The conversation around herbal and natural products has gone up and many brands are now trying to leverage this prospect. According to a Nielson report, the natural segment in India’s personal care market accounts for about 41 per cent of the total personal care market and is pegged to grow 1.7 times faster as compared to the overall category.
Marketers everywhere are trying to woo the millennials and what best way to get the attention of this on-the-go generation than well, on-the-go food. While ready-to-cook solutions have been in the market for long now, the time-strapped generation of today are looking to cut more corners than their parents probably did. MTR, an early player in the ready-to-cook category, recently launched their breakfast mixes, a quick and easy solution to breakfast woes of the people today. Another brand to have latched on to the trend is Mother’s Recipe, which also launched its instant mix poha. The ready-to-eat meals market is currently valued at Rs 23 crore and grew at a compounded annual growth rate of 3-5 per cent in the last five years.
Health and wellness focused beverages:
The consumers of today are not just aware, they are also more health conscious and seek healthier solutions and products for their everyday life. The value-added hydration and functional beverages segment is fast growing and PepsiCo India is betting big on the category. Just last year, the company launched 7Up Revive and this year it brought in Aquafina’s new vitamin fortified water.
The health-conscious customers of today are not just looking for healthier options when it comes to their food and beverages but they look at it as a lifestyle. The smart wearable category is thus gaining momentum in the country and is expected to grow in double digits. Brands such as Goqii, Xiaomi and Fitbit are leading the market in India.
There was time when we emulated everything the West did. But slowly but surely, the country is waking up to the potential of all things Indian, especially in the fashion and clothing category. Women’s ethnic wear currently constitutes 50 per cent of the total sales in the women apparels category. The ethnic wear market’s worth is around Rs 70,000 crore currently and is expected to grow at a compound annual growth rate (CAGR) of 9 per cent to reach Rs 1, 26,210 crore in 2019.