New business. Sun Pharma forays into healthy snacking segment

In a strategic move, Sun Pharma has decided to extend its health food supplement brand Revital to the nutrition bars category, marking its foray in the healthy snacking segment.

The company believes this will enable the Revital franchise to not only meet the evolving consumer needs at a time when they are seeking convenient and nutritious snacking options but also appeal to the young adult consumer cohort.

Tarundeep Singh Rana, Head of Marketing, Sun Pharma Consumer Healthcare, said, “Revital has been witnessing robust growth as the leading health food supplement brand over the last few years. In the pandemic times, there has been an increased consciousness among consumers especially from the healthy snacking perspective and there is also a rising demand for on-the-go nutritious offerings which can help them pursue their wellness goals. So it was only logical for us to foray in the fast-growing nutrition bars category.”

“This foray will also help us strengthen the brand’s equity among younger adults in the 18-30 years age bracket, so they get inducted into the brand’s fold right at the outset when they start consuming a nutritional supplement product,” he added.

Two variants

For now, the company is launching its nutrition bars on Amazon with two variants namely, Revital H Energy NXT and Revital H Protein NXT.

Rana pointed out that young adults are increasingly turning to the online channel for purchases and the company will also leverage on the online channel to gauge consumer feedback. In the second phase, the company will look at expanding the distribution of its nutrition bars to offline channel through chemists, supermarkets and general trade stores.

Nutrition segment

While the nutritional health supplement category has witnessed massive growth in the past 15 months due to the pandemic, the nutrition or energy bars segment has also been growing at a fast clip. As per industry estimates, the nutrition bars segment is currently pegged at about ₹300 crore and expected to grow at the rate of 30-35 per cent to cross the ₹800 crore-mark in the next few years.

“We believe we are entering the segment at the right time with a differentiated proposition. This move is expected to accelerate the overall growth of the Revital franchise. Our aspiration is to become a sizeable player and be among the top five brands in the next four years in this segment,” Rana said.

He added while the traditional health food supplements segment continues to witness strong growth, there is also an advent of newer formats as a section of consumers prefer to consume options that more akin to food and beverages to fulfil nutritional gaps.