MUMBAI: The government's consideration of a tax on junk foods is expected to boost the current consumption trends towards organic foods and health & wellness products, according to Arvind Mediratta, CEO & Managing Director of Metro Cash and Carry, India.
In a statement, Mediratta, said: "The health and wellness foods sector has been estimated to have a potential of Rs 33,000 crore in the Indian market, with a steady upwards growth rate over the last couple of years. With a large percentage of our population under the age of 30 years - many of them young professionals with busy work schedules - a healthier diet is the cornerstone of a wholesome and healthier lifestyle, with natural and organic foods becoming a key component. The growth of a middle class that increasingly enjoys a larger disposable income and has greater exposure to global standards of food safety and quality is another factor."
Reflecting such patterns of consumption in its business, Mediratta said the firm has seen a strong trend towards organic fresh and packaged foods amongst its customers. "We have also seen kiranas and small retailer customers expanding the breadth and depth of their assortment in the organic staples segment, catering to increasing consumer awareness and resulting in better penetration and distribution of organic foods in Tier 1 and Tier 2 cities," said Mediratta.
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