The Bengaluru-based firm, popular for its potato chips, has recently launched gourmet dips and premium bar snacks, as part of its larger strategy of tapping the packaged snacking market worth over Rs 35,000 crore.
“When it comes to choosing snacks, India’s GenZ consumers have little choice between fried fatty potato chips and boring health bars. So, we launched popped potato chips with 50% less fat – the fittest potato chips that you can find. That has given us the confidence to introduce more products that have the potential to disrupt the market,” said Anish Basu Roy, founder of TagZ Foods.
The company has raised about $1 million so far from Venture Catalysts, Dexter Angels, Agility Ventures and angels such as Umang Bedi, Arjun Vaidya and Mohanlal Menon.
The company said it had sold over 35 lakh units of potato chips since its launch in 2019 and nearly 40% of its sales have come from repeat customers. About nine in 10 Indians or 88% said they are snacking more during the pandemic than before it, with millennials likely preferring snacks over meals, according to a 2020 study by Mondelez International and The Harris Poll, which covered nearly 6300 people across 12 countries.
“Going forward, TagZ is looking to disrupt the four largest categories in indulgent snacking – chips, dips, chocolates and cookies – with fitter and eco-friendly options,” added Roy.
Packaged salty snacks and biscuits are an over 65,000-crore market, and two of the largest categories within India’s fast moving consumer goods basket. While Indians prioritised snacks over meals over the past year , three-fourths of Indians have relied on snacks for nourishment and a majority of them are actively seeking snacks that are high protein and vitamin rich, the study added.
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