Sunpure forays into packaged jaggery market targets Rs 120 crore Annually

MUMBAI, 21 NOVEMBER, 2023 (AMN):  Sunpure, an edible oil brand, introduces a new product category – packaged jaggery. Sunpure Jaggery Powder and Sunpure Jaggery Block. The company aims to expand the new products to its existing markets across Karnataka, Maharashtra, Kerala, Andhra Pradesh, Telangana, Goa, and Tamil Nadu in the next month.

MK Agrotech, the parent company of Sunpure, is a karnataka based organisation focused on integrating technology and tradition in the food sector. The company aims to expand its presence as a pan-India FMCG brand. Considering the growing health consciousness among Indian consumers and their preference for healthier alternatives to refined white sugar, the company decided to enter the new segment with Sunpure Jaggery. 

“India is one of the leading exporters of jaggery in the world and the domestic market for packaged jaggery is ripe for disruption. With mounting health concerns due to growing incidence of diabetes, heart diseases and obesity-related issues, more and more Indian consumers today are replacing white sugar with jaggery, an unrefined natural sweetener made from sugarcane juice. What’s more, jaggery also offers numerous nutritional benefits, making it a healthy addition to the household pantry staples,” Sridhar Vaidyanathan, chief operating officer, MK Agrotech, said. 

“Unlike traditional jaggery sold in open markets or other packaged jaggery products available in the market, Sunpure Jaggery’s USP is that it is produced using traditional methods with skilled manpower in hygienic conditions, and without the use of any harmful chemicals, artificial colours, or commonly used preservatives. You may notice that Sunpure Jaggery is darker in colour due to the absence of bleaching agents; it is 100% natural and safe,” added Mannan Khan, Director, MK Agrotech. 

The packaged jaggery market in India reached Rs 55.6 billion in 2022 and is projected to reach Rs 122.1 billion by 2028, with a growth rate (CAGR) of 14.1% over five years. Sunpure aims for an annual revenue of Rs 120 crores in this segment. In Mumbai, the products have been introduced under Riso Jaggery powder and Riso Jaggery block. Sunpure had acquired Riso, a premium edible oil brand in Maharashtra, in February this year to enhance its presence in the Western market.Ends