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Fast-Moving Consumer Goods (FMCG) maker Tata Consumer Products’ Research & Development is focusing on premiumisation of its products and packaging through innovation to offer consumers a unique proposition in domestic and international markets.
The company witnessed a 5x growth in its innovation-to-sales ratio in the last four years and recently introduced cold-pressed oils, specialised coffee and Himalayan Saffron.
“Over the last three years, the premiumisation category has taken centrestage with innovation. There is a surge in consumer affordability and therefore consumers are looking for premier experiences both in product and packaging.
“We introduced cold-pressed oils and in coffee, launched premium freeze-dried coffee and ready-to-drink cold brew... We have come up with very targeted launches for consumers,” Vikas Gupta, Head of R&D, Tata Consumer Products, told businessline.
In FY24, Tata Consumer Products, on an average, launched one product every seven days while 100 products have been introduced since inception.
“We are continuing to look very keenly to expand our innovation portfolio. We have been able to come up with very differentiated offerings in our commodity play. We want to disrupt the commodity business by creating patented technologies and connecting them to consumer insights,” he said.
International geographies
While the FMCG major is focused on introducing innovative products in its domestic market, the company is also working on doing the same in the international geographies it is present in. Tata Raasa and Joyfull products have been introduced in the international markets.
“We have introduced the ready-to-eat segment, including meals and ready-to-cook curries and paste, for the international markets. Organic India and Capital Foods give us a bigger platform for the company in the international geographies. We are also looking at category expansions in the international markets. We are going to further leverage our strengths and capabilities along with onboarding the R&D team from Capital Foods,” added Gupta.
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