Food Marketing & Technology magazine – India interviewed Mr Shyamal Panchmatia, Managing Director of L B Industries Pvt. Ltd. He discussed his product ‘Ray NoSugar’. He also provided us with insights about the industry; challenges faced in the formulations of this product; its future market plans; etc.
1 What is the basic formulation of Ray NoSugar?
Ray NoSugar is a liquid natural sweetener made from pure Stevia extract. Stevia plant leaf is 400 times sweeter than regular sugar, yet it does not add even one calorie to the body. The liquid Stevia used in the product is very hygienically formulated. It does not contain polyols and bulking agents such as lactose, maltodextrin, dextrose, saccharine, aspartame and sucralose. The absence of these agents helps Ray NoSugar to have very less or no bitter aftertaste.
2 What challenges have you faced in the development of this product?
The biggest challenge we faced was stability, because our product is a liquid product made from Stevia extract. Stevia extract is known for the bitter aftertaste. Our major challenge was to develop a product without compromising on the aftertaste.
3 What is the size of the sugar-free market in India?
According to my knowledge, the size of the sugar-free market in India is somewhere around 350 crores.
4 How do you see this product growing in the coming years? What is your projection?
Since we are all becoming health conscious and we want to avoid sugar, there is a very common line when we go out, we say; don’t add sugar in my tea or coffee, or we say don’t add too much of sugar in my juice. Our product is the best solution for this thing. It scores zero on the Glycaemic Index (GI) and does not increase blood sugar (glucose) or insulin levels in the body, yet it adds the right amount of sweetness.
5 Will the product be available for the food and hospitality industry?
Yes absolutely; our product will be available for the food and hospitality industry. Ray NoSugar is a very suitable product for Horeca (Hotel/Restaurant/Café Industry).
6 What are your marketing plans to compete with existing products like Sugar-free?
Sugar-free is a big brand. We want to stick to our principal to provide a clean and mess-free product. Our product comes in an easy snap technology and with our ever increasing range of products we want to tap the market. The whole idea of our marketing is word-of-mouth. On the other side, we are also working on models of marketing such as digital marketing, in-store marketing and branding game.
7 Is your product available in grocery shops?
At present we are available in supermarkets; hypermarkets; modern trade channel at PAN-India level; online portals (Amazon, Flipkart and Big Basket).
8. The market for sugar-free is not confined to cities. Will you be marketing it in rural areas as well?
Not at this moment. There is not much awareness of Stevia in rural areas and we feel the urban market in itself is very big. Another reason is that people in urban areas are more health and fitness conscious compared to people in rural areas.