India largest market for Nestle's Maggi worldwide, 2nd biggest for KitKat

According to the most recent annual report of its local company, India has grown to be Nestle's largest worldwide market for its instant noodles and soup brand Maggi and its second-largest market for its chocolate wafer brand KitKat.

Furthermore, the report stated that Nestle is experiencing some of its fastest market growth in India, with a high double-digit growth rate.

"Penetration, premiumisation and innovation, combined with disciplined resource allocation, have been key in driving business, making your company one of the fastest growing markets for Nestle globally," stated Nestle India's 2023-24 annual report.

Nestle, which offers its well-known instant noodles under the Maggi brand and also distributes prepared foods and kitchen tools in this country, sold more than six billion servings of Maggi in FY24, "making India the largest Nestlé market for Maggi worldwide," the company stated.

Nestle is stepping up its marketing under the Maggi brand. At a price point of Rs 10, it has introduced Oats Noodle, Korean Noodles, and several masala varieties.

"The market for prepared foods and kitchen tools saw rapid expansion. A balanced product mix, competitive pricing, and volume growth in Maggi noodles and Maggi Masala-ae-Magic, together with robust consumer interaction and market presence through media campaigns and alluring consumer activations, all contributed to this, the statement read.