Fearful of losing out in the growing corn chips market, Procter & Gamble is launching its own range of tortilla chips, Torengos. P&G is facing slow growth in its main savory snack market, potato chips, prompting diversification outside this segment. Sales of corn and tortilla chips are growing faster, and already account for 39% of US savory snacks.
The new product will be backed by a $60 million marketing launch but ranges such as Frito-Lay’s Doritos are already well established, making it difficult for any new entrants to have a noticeable impact on the market.
Source: Datamonitor, 2001: “Potato Chips Industry Guide”, “Savory Snacks Industry Guide”
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