The home-grown coffee brand has announced the launch of its plant-based meat products brand 'Continental Greenbird' in India.
CCL Products (India) said that globally there is an increase in awareness among consumers about sustainability, environmental impact, industrial meat packing and flexitarian diets. In the past few years, the popularity of plant-based meat has been gaining momentum globally as well as in India. The pandemic has propelled the growth further.
Therefore, based on industry research and growth potential, Continental Coffee (CCL) has ventured into the frozen foods category with the launch of plant-based meat products with its 'Continental Greenbird' brand. The brand will enable its consumers to make choices which are sustainable to the globe without losing the taste of meat.
As per industry research, India's meat substitute market is estimated to be around Rs 300 crore, largely driven by consumer package food. Market Size is estimated to touch around Rs 3500 crore in 3 years.
With this launch, CCL plans to tap into the growing consumer set who are looking for sustainable products while bridging the gap between meat cravings and guilt-free habits. With Continental Greenbird, CCL will initially offer four plant-based meat varieties. All the products are made from plant-based protein which are derived from green pea, chickpea, and in the case of keema from soya.
Praveen Jaipuriar, chief executive officer, Continental Coffee said, At CCL, we see India leading the trend towards a new generation of plantbased food in Asia. Given the growing awareness as well as acceptance of products on wellness and sustainability, India has the potential to emerge as one of the largest markets for plant-based protein alternatives. This has inspired us to enter this category and make plant-based meat part of everyone's daily lifestyle.
With Continental Greenbird, we offer delicious and nutritious products made from plant protein ingredients, enabling consumers, particularly those who make conscious choices about their diet and how it impacts the planet and their health, to find quality solutions to match their sustainable lifestyle.
Continental Coffee (CCL Products India) is an Indian coffee company in the global coffee market successfully operating businesses in coffee exports, private label manufacturing, and continental coffee branded coffees.
The company's consolidated net profit rose 7.11% to Rs 52.70 crore on a 13.47% increase in sales to Rs 376.23 crore in Q4 FY22 over Q4 FY21.
The scrip added 0.82% to currently trade at Rs 406.55 on the BSE.
In the past three months, the stock has declined by 1.68% while the benchmark Sensex has fallen 8% during the same period.
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