ITC Ltd has emerged as the leading fast-moving consumer goods (FMCG) manufacturer in the food sector in terms of domestic sales for the nine months ending in September, according to data from NielsenIQ, as cited by ET. During this period, ITC Ltd surpassed competitors such as Adani Wilmar, Britannia, Parle Products, and others.
During the specified period, ITC achieved food FMCG sales amounting to Rs 17,100 crore. In comparison, Britannia recorded sales of Rs 16,700 crore, Adani Wilmar reached Rs 15,900 crore, Parle Products reported Rs 14,800 crore, Mondelez stood at Rs 13,800 crore, and Hindustan Unilever Ltd (HUL) registered sales of Rs 12,200 crore, as indicated by NielsenIQ data.
In the corresponding period last year, ITC had climbed from the fourth position, with Adani Wilmar holding the market lead. Adani Wilmar reported sales of Rs 16,100 crore, Britannia at Rs 14,900 crore, Parle at Rs 14,800 crore, ITC at Rs 13,900 crore, and Mondelez at Rs 12,400 crore in the January-September period, according to NielsenIQ data.
Industry executives mentioned that a significant factor behind ITC surpassing Adani Wilmar was the substantial decline in edible oil prices, as per the report.
During the nine-month period, the country's leading edible oil company witnessed a revenue impact. Edible oil prices, which had peaked at $2,000 per tonne in April-May 2022, dropped to below $1,000 per tonne in September.
ITC benefited from a rise in atta prices. ITC's packaged atta, marketed under the Aashirvaad brand, stands as the primary revenue generator for its food business.
Experiencing growth across the majority of its diverse product range, the company attained its status as the fastest-growing consumer goods company in the food sector by introducing over 100 food FMCG products annually.
According to NielsenIQ data, significant growth in the overall food FMCG category in the country is attributed to key segments such as snacks, food products, and packaged groceries. In the food segment, Nestle leads modern trade contributions with 18.8 per cent, followed by HUL at 15.9 per cent, Mondelez at 14.2 per cent, ITC at 12.2 per cent, and Adani Wilmar at 11.3 per cent.
