ITC’s Sunfeast Yippee Noodles, currently the second largest brand in the instant noodle market, is set to gain from the Maggi fiasco as it is the only instant noodles currently selling at retail outlets. Manufacturers have also pulled out Wai Wai and Top Ramen products.
Experts say ITC is set to gain significantly if it ramps up its distribution and increases its shelf space. ITC’s Sunfeast Yippee, currently holds 18-20% market share in the instant noodle market space, which is worth R4,000 crore.
“Since Yippee is the only instant noodle in the market currently, it will definitely see its market share go up significantly in the next few months. However, quantifying the increase in market share is difficult as it depends on how the company increases its production and distribution in next few months,” said Arvind Singhal, chairman of Technopak Advisors.
“Noodle market is going through very troubled times in India. We are very happy to state that Yippee Noodles are completely safe for consumption and has been explicitly cleared in states like Karnataka, Kerala and Gujarat, among others. Our aim is to restore the consumer confidence which has been eroded over the last few weeks. We are not thinking in terms of market share at this juncture, it is important to reassure consumers on the quality and safety of Yippee Noodles and regain consumer trust in the category,” said an ITC spokesperson.
“All ITC products including Yippee noodles are manufactured in the state-of-the-art and world-class facilities complying with strict quality and hygiene norms. Further, stringent tests are conducted for the company’s food products at ITC’s NABL accredited Life Sciences & Technology Centre as well as at external laboratories which are FSSAI approved and NABL accredited. In all these tests, our food products have consistently been found to be completely safe for consumption and in compliance with statutory regulations,” said the spokesperson.