Kraft Foods FZE posts 10% growth in H1, 2009
Kraft Foods Middle East and Africa, a Jafza-based market leader in powdered beverages and processed cheese in the region, posted 10 per cent growth in the first half of the current year.
With its regional head quarters in Jafza, Kraft Foods MEA, the US food and beverage giant, achieved the impressive growth in the region on the back of surging demands fuelled by commodity led pricing actions in 2008. The half-yearly growth far exceeds the group’s global organic net revenue growth of 2.9 per cent for the same period.
Vishal Tikku, Managing Director, Kraft Foods Middle East and Africa said: “The robust growth in revenue is the reflection of the steady growth in demand and also the pricing we introduced last year with a focus on building quality-cost ratio that continued to offer the right bundle of benefits at the right price. Bulk of the growth was fuelled by the increased demands for our power brands such as Tang, Kraft Cheese, Oreo and LU biscuits.”
Its 80 per cent market share by value in the Powdered Beverages segment has not stopped Kraft from constantly evolving the brand to meet the changing needs and taste of the consumer. “Of late, the market has been showing preference for more natural products. So we re-launched our flagship brand Tang with added nutritional ingredients and natural flavours derived from fruits. There is also an additional vitamin bundle including vitamins A, B and C. Even the updated packaging is aimed at strongly reflecting Tang’s new value offerings. We also launched the Tang Berry variant as a limited edition Ramadan product in line with consumer taste in the holy month. We believe this innovation will strengthen our brand and give us a strong hand to reinforce our leadership in the region,” Tikku further added.
Responding to a ‘wellness’ trend Kraft also introduced a ‘Active’ version of their iconic Cream Cheese Spread jar, with 20% more Protein and 20% less Fat which has provided impetus to the revenue growth. From its regional head quarters in Jafza, the US food and beverage giant commands operations in GCC, Yemen Iran, Iraq, Pakistan, most of Africa and the Levant.