Joyco launches new product, aims at increasing market share

Joyco launches new product, aims at increasing market share

Author | exchange4media News Service | Friday, Jun 28,2002 7:45 AM

Joyco launches new product, aims at increasing  market share

Joyco India, one of the significant players in the Rs 1,100-crore confectionery industry, has launched an extension of its flagship bubble gum brand Boomer as Boomer ‘Jhatka’ to counter close competitor Perfetti India’s liquid filled sour chewing gum Centre Shock. Perfetti after test-marketing Centre Shock in select cities, is currently rolling out the brand nationally.

Launched in the South about three weeks ago, Joyco’s Boomer ‘Jhatka’ has a sharp lemony flavour a la Perfetti’s Centre Shock. The product is priced at Re 1 and is available in flow pack.

The move is strategic for Joyco which has been claiming the market leader position in the gums category and has fuelled growth in the category from a level of Rs 35 crore in 1995 to over Rs 300 crore in 2002. Perfetti, on the other hand, has three gum brands—Big Babol bubble gum, Centrefresh and Centre Shock chewing gum and Happydent White.

Though Joyco has a large portfolio of gum brands including Bang Bang, Ta-Ta, Dunkin and Licor del Polo in its global kitty, Boomer is the only gum brand that has been launched in India though it did test-market its second gum brand Trex recently.

According to industry sources Joyco has withdrawn its gum brand Trex which was test-marketed recently in the North. Priced at Re 1, Trex was being imported from China while Joyco’s all other brands are being manufactured at its factory in Baddi in Himachal Pradesh.

With Boomer Jhatka, Joyco may also be aiming to lift up the Rs 300- crore chewing and bubble gum market which has shrunk in recent years. The market has shown a positive trend in the current year with initial indicating that after a prolonged lull, the bubble is booming, once again.

Recent years have been tough for the confectionery industry, with players grappling with a 16 per cent excise duty. Highly competitive with presence of several global players, the market expansion in the gums segment has been possible with focussed advertising and innovative consumer promotions.

Joyco’s existing Indian product profile comprises Boomer bubble gum which was the first product it rolled out in India, Bonkers soft chewy candy, Donald bubble gum, Donald candy and Mickey toffee, Aqtimint, Pim Pom milky candy pop and Solano. It has also test-marketed Cloud Nine, a chocolate coated peanut candy, recently.

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