FMCG start-up Sproutlife Foods has already carved a niche for itself in the health food market with its flagship brand Yoga Bar, but sister-founder duo Suhasini and Anindita Sampath Kumar have set their eyes on taking the company past the Rs 100 crore business milestone in a year.
Founded in 2014, the fledgling FMCG firm currently offers a range of protein, energy/snack and breakfast bars, alongside a separate muesli products line. However, the company is looking to tap into the larger health foods market going forward, with rapid diversification of product offerings.
“We are already offer four product categories and have become a fairly recognisable brand in the health foods space. India is a particularly protein deficient nation and this is one of the needs we want to address..,” noted Suhasini Sampath, co-founder and chief operating officer, Sproutlife Foods.
Fellow founder Anindita Sampath agreed, pointing out that most brands in the health foods segment operate in a better-for-you segment, where claims made on health and nutrition are under-delivered.
“This is especially true in segments like healthy snacking or kids snacks and ready-to-eat breakfast options. Customers shopping in these categories are already aware, educated and conscious. They are looking for better and truly healthy options. For future growth, we are focused on expanding our product portfolio in these segments,” she said.
“We’ll probably get into protein drinks too..,” added Suhasini.
The two founders see growth, both in terms of market reach and sales volumes, rising sharply going forward.
According to Anindita, the company already does around Rs 2 crore in business selling around a million units a month across categories currently.
It has a presence in 30 cities and 10,000 stores across the country, adding 5,000 stores over the past year and plans to hit the 17,000 store mark.
While Yoga Bar is present in a large number of stores in metros, it also has a robust presence in tier-II towns too.
“We will probably be a Rs 100 crore brand in a year,” Anindita said.
The company also sees particular potential in the muesli category.
“Indian health food market is certainly moving toward more value-rich products, and cereals are definitely moving towards muesli,” she added.
No impact due to slowdown
According to Sproutlife’s founders, the ongoing slowdown in demand across consumption sectors has left the company and brand unaffected so far. “To be honest, we have been growing and haven’t seen any impact on demand,” said Suhasini Sampath, COO, Sproutlife.