Hershey is planning to venture into the premium biscuit market with the launch of Sofit . The company has forayed into protein cookie segment with an investment of USD 50 million. Its new range will be produced at its Hyderabad manufacturing facility. The biscuit will be positioned as a healthy snack without transfat and maida. It has 25 per cent lower sugar content and composed of protein, Omega-3, fibre and vitamins.
Currently, the biscuit market estimated at $2.8 billion in urban India is growing at about 10 per cent per annum, while the premium biscuit market pegged at $800 million is growing much faster at about 17 per cent.
Company Profile : Hershey India Pvt Ltd