Instant noodle brand Wai Wai to make sauces; invests Rs 125 crore in capacity expansion in India

The Economy Times,Sep 24, 2020, nstant noodle brand Wai Wai’s parent CG Foods has announced that it will get into producing and selling pre-packaged sauces. The company headed by Nepali-billionaire Binod Chaudhary said that it will launch these sauces within the year.

The company’s chairman told ET that the business has been testing out a multiple product strategy to diversify beyond its instant noodle range and will be rolling out a series of products across different food and beverage categories in the coming months. For now, it will be hot sauces.
The company had earlier announced capacity expansion in its India noodles business with an investment of Rs 120 crore this year. The expansion commissioned to be effective from August this year will enable the plant to reach the capacity of Rs 1550 crore, he said.

He added that the pandemic has resulted in major changes in the business ecosystem and consumer behavior because of which the company has restructured its approach to be in better sync with the changing market dynamics.

The next plant in its expansion pipeline is Guwahati to start by March 2021 followed by Ajmer in June 2021 and then Chittoor in Andhra Pradesh by September the same year.

According to one report by Mordor Intelligence, the Indian instant noodles market is forecasted to grow at a CAGR of 5.6% till 2025. The major players in the space are Nestle, ITC, Nissin, Hindustan Unilever NSE -0.76 % etc.,.

Dips and sauces on the other hand, were estimated to be $638.96 million business in ..

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September 28, 2020