Indo-Japanese JV launches roasted rice snack Kari Kari
25 Jan 2020
Daawat-Kameda India, a joint venture company between one of India’s largest rice-based food conglomerate, LT Foods and Japan’s largest rice crackers company, Kameda Seika, has launched ‘Kari Kari’, a crunchy, light, healthy and premium rice snacks in the Indian market.
Kari Kari, the new crunchy, roasted rice snack for guilt free snacking launched by Daawat-Kameda (India), a joint venture between LT Foods and Kameda Seika, Japan
Inspired by the famous Kameda Crisp, a favourite rice snack in Japan, ‘Kari Kari’ crisps are made from rice and peanuts are hearty and wholesome savoury snack. It is rich in protein and is available in four different flavours, chilli garlic, wasabi, salt & pepper and spice mania to excite the Indian palate.
Targeted at the youth who prefer healthier, non-fried ingredient-based snacking options, Kari Kari is priced at Rs 50 for 60-g and Rs 99 for 135-g pack.
LT Foods is an 80-year-old consumer food company delivering the finest quality rice and rice-based food brands, providing taste and nutrition in more than 80 countries. LT Foods are also produces organic agri ingredients, supplying them to leading businesses in Europe and the US for the past 25 years. Its flagship brands ‘Daawat’ and ‘Royal’ enjoy leading positions in India and US with a market share of 29% and 45% respectively and has strong market share in other countries as well.
Kameda Seika is the leader in Japanese rice cracker market with around 30% share.
Daawat-Kameda India will manufacture Kari Kari from locally sourced ingredients and raw materials and has invested in research and development and a state-of-the-art manufacturing facility at Sonipat. The company is also growing a specific type of rice locally, which is the key ingredient in the snack.
Vijay Kumar Arora, chairman and managing director, LT Foods, said, “Based on changing consumer needs and preferences and the demand for tasty and healthy snacks, we have ventured into the premium snacks category in India with Kari Kari. This premium snacks category is growing at a rate of 20-25% per annum.”
He added that Kari Kari has gained tremendous traction in its test launch phase in Delhi-NCR, Mumbai and Bangalore across modern trade stores. Based on the success of the test launch, the company has set-up a facility in India to manufacture these products.
Jun Kono, director, Daawat Kameda India and overseas manager, Kameda Seika, Kameda Seika, added, “We are very happy that our joint venture company is ready to roll out ‘Kari Kari’ in the Indian market. Our rice snacks are popular in Japan and I am sure this roasted healthy snack with medley of rice crisps and peanuts will find much favour with the Indian youth.”
The India snacks industry is highly competitive and evolving, pecked at around Rs 30,000-crore and the premium and healthy snacks, though still in nascent stage, have an approximate market size of Rs 900 to Rs 1000-crore, growing at 22-25% per annum. There is a huge opportunity in the fast growing premium segment, which has seen many new Indian and global entrants in recent years.
Indo-Japanese JV launches roasted rice snack ‘Kari Kari’