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November 25, 2016

LT Foods inks JV with Japanese snacks maker Kameda Seika

Indian rice group LT Foods has set up a local joint venture with Japanese snacks maker Kameda Seika.

By Dean Best

Indian rice group LT Foods has set up a local joint venture with Japanese snacks maker Kameda Seika.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
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  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The venture will manufacture and market rice snacks in India, LT Foods said.

The rice snacks will be made at a new plant in the town of Sonepat, around 20km from New Delhi, the Indian capital. Manufacturing will start in LT Foods’ 2017/2018 financial year, which begins on 1 April 2017.

“LT Foods and its partner Kameda believe the large and expanding urban middle-class in India are ripe for a healthy and tasty alternative to fried potatoes and wheat-based snacks,” the Indian company said. “LT Foods’ existing strong distribution network and supply chain was a key attraction for its partner Kameda. Apart from investing equity, Kameda will help the joint venture in technical matters relating to the manufacturing, flavour development and package design, as well as lend its experience in marketing rice based-snacks globally.”

The companies plans to develop four flavours of rice snacks “customised for the palate of Indian consumers”. They added: “Once the joint venture has cultivated and established a stable position enough in Indian market, the joint venture will look at exporting the product to regional markets in South Asia.”

Earlier this week, LT Foods announced plans to set up its first plant in Europe. LT Foods is setting up a facility near to the Dutch port city of Rotterdam to process brown rice, which will be distributed “within Europe”, the company said.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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