ITC Foods is redirecting its attention towards a demographic often neglected by businesses focusing on younger generations like Gen Z and millennials. The company, renowned for its popular products such as Aashirvaad atta and Sunfeast biscuits, is launching a new range of health-focused products. This includes upma, oats, cookies, and atta enriched with natural ingredients, all under the newly introduced brand “Right Shift.”
This strategic move aims to tap into a substantial market encompassing nearly 10 million households, with the objective of integrating these health-oriented offerings across all food categories where the company operates. ITC executives recognize the 45 and above age group as a significant and expanding market opportunity. Hemant Malik, Executive Director at ITC, emphasized the importance of this demographic, citing expert projections that by 2050, 40% of India will be comprised of individuals aged 45 and older.
He explained, “With the physical changes that come with aging, people are increasingly seeking to adjust their dietary choices, although they may not always know the best options available. This age group not only has the financial means but also allocates a significant portion of their discretionary spending to food. They are actively considering and discussing dietary changes to maintain their health and vitality.”
This initiative aligns with the company’s broader strategy of preparing for future market demands, a plan known internally as ITC Next. Under this framework, the company’s FMCG division is concentrating on developing future-oriented categories and expanding its product lineup to meet emerging consumer needs. The company is capitalizing on the trend of premiumization, where increasing disposable incomes are prompting affluent consumers to prefer high-end brands over more standard offerings.
Malik further elaborated, “We aim to capture market share across multiple categories through a well-rounded portfolio strategy and innovation. Differentiating our products to cater to the diverse needs of various consumer segments will be crucial in achieving this goal.” By focusing on this financially robust yet underserved older demographic, ITC Foods seeks to address a market gap by offering healthier food choices tailored specifically to their needs.
This approach not only aligns with the broader industry trend towards health-conscious and premium products but also positions the company to secure a larger share of consumer spending by meeting the unique preferences of the 45+ age group.
ITC Foods, a leading division of ITC Limited, offers a diverse range of high-quality food products, including popular brands like Aashirvaad atta and Sunfeast biscuits. Renowned for innovation and quality, ITC Foods is dedicated to meeting evolving consumer preferences with health-conscious and premium offerings. The company is committed to addressing diverse dietary needs through continuous product development and market expansion.
