Biscuit making giants Britannia have gone for a new challenge by entering the $2bn chocolate category in India with their first ‘bridge products’, with the aim of competing with Nestle’s staple brand, KitKat.
The product they’re hoping will do this is called Pure Magic Deuce, which is made up of a dark biscuit that has a layer of chocolate on top, which is available in two different types – milk chocolate and white chocolate. Both are currently priced at INR30 ($0.47) per 60g pack, which has six biscuits in.
Britannia have stated that Pure Magic Deuce was initially designed to be a “super-premium indulgent” item, with the aim of assisting the transition into a “total foods company” a few years down the line.
According to Euromonitor, Britannia are currently in possession of the largest share available in India’s sweet biscuits category, which is valued at $3.6bn.
Market analysts are of the belief that Britannia are making a good decision by making a foray into the chocolate sector, as it can massively expand their footprint in India’s macro snacking space.
This would represent a bit of a coup for Britannia, as India is currently one of the fastest growing chocolate confectionery markets on the planet, with an 11% retail value increase in 2017 according to Euromonitor data.