'Rishtey maange bus 2-min', how Maggi became a household staple with 6 billion servings in India
India has emerged as the largest market for Nestl¨¦¡¯s Maggi, boasting six billion servings in the financial year 2023-24, as highlighted in Nestl¨¦¡¯s annual report, as per Business Standard. For the 15 months ending on March 31, 2024, Nestl¨¦ India reported sales of Rs 24,275 crore. India is the largest market and one of the fastest-growing for the company, with a high double-digit growth rate.
India has emerged as the largest market for Nestl¨¦¡¯s Maggi, boasting six billion servings in the financial year 2023-24, as highlighted in Nestl¨¦¡¯s annual report, as per Business Standard. For the 15 months ending on March 31, 2024, Nestl¨¦ India reported sales of Rs 24,275 crore. India is not only the largest market but also one of the fastest-growing for the company, with a high double-digit growth rate.
Nestl¨¦'s prepared dishes and cooking aids business in India recorded strong growth due to a balanced product mix, competitive pricing, and increased volume in Maggi noodles and Maggi Masala-ae-Magic.
Over the past eight years, Nestl¨¦ has introduced more than 140 products in India and plans to invest Rs 7,500 crore between 2020 and 2025 to expand its market presence further.
How India became the largest market for Maggi with 6 billion annual servings | iSTOCK
However, Maggi has faced controversy in India. In June 2015, the noodles were banned for five months due to allegations of excessive lead content. This led to a dramatic fall in Maggi's 80% market share, which dropped to zero within a month. Nearly a decade later, Maggi is still working to regain its market position amid growing competition.
Additionally, Nestl¨¦ India reported selling 4.2 billion fingers of KitKat, making India the second-largest market for the popular chocolate.
Ever wonder how a '2-Min Maggi Noodle' became famous in India?
The Journey of Maggi in India: A timeline of success and challenges
Year 1984: Nestl¨¦ introduces Maggi noodles to the Indian market.
Year 1997: A setback year for the company as changes in taste led to a decline in sales.
Year 1999: To revive sales, Maggi reintroduced the old formulation and launched the punchline "Fast to Cook, Good to Eat."
Year 2000: Maggi becomes the market leader in the instant noodles segment.
Year 2005: Launch of Maggi Atta noodles with the tagline "Taste Bhi, Health Bhi" to position the brand as both tasty and healthy.
Year 2009: Celebrates 25 years with the "Me and Meri Maggi" campaign and introduces Maggi Pazzta.
Year 2012: Launch of the "Do Minute Mein Khushiyan" campaign featuring Amitabh Bachchan.
Year 2015: A crisis year. FSSAI imposes a nationwide ban due to high lead levels and mislabeling of MSG. Maggi's market share plummets from nearly 80% to zero. Nestl¨¦ recalls 27,000 tonnes (400 million packets worth 320 crores) of Maggi noodles within forty days.
Year 2016: Maggi relaunches with the tagline "Hamari Maggi Safe Hai" to restore public confidence and rebuild the brand image. Additionally, they promote education with the slogan "2 Minutes for Education."
Year 2020: A new campaign for Maggi Special Masala Noodles celebrates India's diverse heritage of spices and herbs, emphasizing the unique ingredients that make Maggi and the country special.
Maggi remains the No. 1 choice and one of the most successful brands in the market due to its deep understanding of its customers and their needs.
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