Nestle India said on Wednesday that it has received board approval to launch breakfast cereals to its Indian business portfolio.
The multinational food giant Nestle is amoung the leading players in breakfast cereal from its 50:50 joint venture with General Mills known as Cereal Partners Worldwide (CPW). CPW will add its products to the Indian market through Nestle India.
The joint venture has 4,600 employees in 17 factories and 4 R&D (Research and Development) centres around the world.
Currently, India has a 15-billion breakfast cereal market with multinational companies like Kellogg's and PepsiCo (Quaker Oats) along with local players: Marico and Bagrry's.
Driven by health-conscious population with a fast-paced work ethic, the industry is expected to grow in the coming years.
Nestle already has Ceregrow in India since 2016, which focuses on the kids' category of breakfast choices. The company has reported a growth in sales in four of its major product categories that include, milk products and nutrition, power and liquid beverages and confectionery, cooking aids and ready to eat dishes.