The pandemic has had far-reaching economic consequences apart from its devastating toll on healthcare sectors. While it led to the collapse of numerous industries, a few managed to diversify and stay afloat amid the crisis brought about by the pandemic. One such industry is the snacks industry in India which has witnessed a massive upsurge over the past couple of years. India's food ecosystem offers vast investment opportunities, stimulating growth in the food retail sector, favorable economic policies, and attractive fiscal incentives. With altered consumer choices, rising urbanization and a shift towards eating habits, the snacking industry has undergone massive change over the years to emerge as one of the promising sectors adding to the growth of the country’s economy.
As per reports, the Snack Food segment in India is expected to reach $60.57 billion and is expected to grow annually by 8.11 percent during 2022-27. The rising consumption of processed food items due to hectic work schedules and the busy lifestyles of consumers is primarily driving the Indian snacks market. In line with this ever-emerging trend of on-the-go snacking, particularly among the working and millennial population, Maxvita Foods has emerged as one of the leading snack foods manufacturing companies in South India. Having started its modern manufacturing unit in Mysore, Karnataka, in the year 2013, Maxvita is now a significant supplier to states in South India. It has come up with delectable snacks that satisfy consumer requirements while maintaining peak quality standards.
The rising health consciousness among consumers is augmenting the adoption of value-added product variants with natural, organic, vegan, low-calorie, and gluten-free ingredients. Additionally, the escalating levels of urbanization, shifting dietary preferences and improving consumer living standards further catalyze the sales of snacks in the country. These changing patterns and trends have led to a rise in the demand for ethical and responsible food processing. Packaged products such as frozen foods and ready-to-eat foods are highly popular these days.
Employees who are working from home are especially going for items such as chocolates, namkeens, cookies, biscuits, and many other similar packed products. As customers expect brands to deliver quality products that adhere to standards and are tasty options as well, Maxvita Foods satisfies its customers with the most appetizing snack options made with the highest quality ingredients and processes.
Maxvita Foods was incorporated in the year 2011 with the intention to set up the business in Kerala, but taking into account the political and trade union situations, the company was set up in Karnataka. Production began in 2013, and the products were introduced to the market then. The products were well received in the market, and the company achieved ten crores of annual sales in its first three years of starting production. Maxvita doubled its annual turnover figure to 20 crores in the next four years, i.e., in 2020, and took another two years to reach the next milestone of 30 crores in 2022. The company has three manufacturing units located in South India.
The biggest unit was commissioned seven months ago with an investment of 22 crore rupees, and it manufactures potato chips and namkeen products. The unit has a monthly capacity of 450 tons, which comes close to 6000 tons of annual production. Another unit processes 'Baked Corn snacks and extruded snacks' with a capacity of 1500 tons per year. The third unit can produce 2.5 tons of rusks daily, up to 750 tons a year. Altogether, Maxvita has around 8000 tons of production capacity with all three units combined, which allows it to serve its customers efficiently. "Even during lockdowns, when major industries were hit by the pandemic, we didn't just survive but also managed reasonable growth, and this year we are hoping to achieve 50 crores year-on-year sales”, speaks Jijy Mathew, Managing Director of Maxvita Foods.
Maxvita Foods offers a variety of delectable snacks, including potato chips, baked corn ‘snacks’, namkeen snacks, and rusks. Adding the right spices to farm-fresh potatoes creates delicious potato chips. Already a favorite product among snack lovers across the region, this product showcases Maxvita's ability to develop lip-smacking snacks from essential ingredients. Its flavors include Chilli Sprinkled, Classic Salt, Cream and Onion, Tomato ketchup, Masala Miracle, Chilli Chutney, and Barbeque Max, which has the taste of barbeque on a chip to give the best munching experience.
Its corn snacks include corn rings in Chatpata Masala and Yummy Cheese flavors, puff corns in Tomato Twist and Cheese Masti flavors, and cheese balls in Chatpata Dhamaka and Tomato Tango flavors. Maxvita also offers a wide range of namkeen products like Aloo Bhujia, Soya sticks, Wheels, Super Rings, Moong Dal, Crunchy Pasta, Crunchy Noodles, and Karumkure in tomato tangy, chat masala and Manchurian magic flavors. Its rusks come in two varieties, Premium Crunchy Rusks and Premium Milk Rusks. "Our variety of offerings has something for everyone and makes the perfect snack to satiate hunger between meal times”, speaks Jijy.
Maintaining the Highest Quality Standards
Maxvita focuses on making the best by investing in human capital and carrying forward its tradition of quality and customer-oriented approach with endless enthusiasm, differentiating it from its competitors. It always maintains transparency and honesty in all its dealings, whether it is with suppliers, distributors, or customers, it keeps things straightforward and open. To maintain that as a manufacturing company, it has implemented SAP for all its production, billing, and other processes, which allows it to demonstrate its transparency anytime as everything is fully documented. It has a loyal customer base, as they keep coming back to the products, urging Maxvita to keep quality at peak. It has the best processing machinery and systems, allowing it to deliver quality products that match even foreign competitors' quality.
It sources raw materials, like cooking oil, seasoning, and more from Indian subsidiaries of multinational companies that provide assured quality without cutting corners. So, it has the best-in-industry raw materials and the best-in-industry processing line. Maxvita knows the importance of a capable and experienced team, without which even the best processing systems cannot be optimally utilized. It has a team of experienced and qualified professionals with over 60 years of combined experience in the field. The GM of Manufacturing and operations is qualified in BTech- Production Engineering and has been in the snacks segment of the food industry for more than 24 years. The Quality Manager at Maxvita is MTech qualified, and so is the production manager. Maxvita has the will and the commitment to follow what is required to keep quality, so it doesn't cut corners.
Maxvita Foods plans on achieving Rs.100 crore annual sales target in the next two years as its short-term goal, which will be made possible by its new manufacturing facility that has a higher production capacity to reach Rs.130 crore gross annual sales in the same period. Furthermore, it plans to reach Rs.200 crore plus sales in the next five years by establishing more manufacturing units in South India.
