Few things are better than sweet biscuits with morning coffee
Among the companies in Sri Lanka making a name for themselves in the snack, biscuit and cracker segment is Sunrich Confectionery Confectionery, a manufacturing and distribution company that sells its products throughout Sri Lanka and exports around the globe. Sunrich Confectionery produces a wide variety of snacks, including Power Crunch energy biscuits, Milkies, and Onion Bites. Production is directed by M. Shridaran, whose family has been in the biscuits industry for decades and who holds degrees in Product Management specialising in Food, Bakery Technology and Biscuit Technology.
Snacking Habits Vary a lot Worldwide
Generally defined as products that are eaten either between meals or as substitutes for meals, the market is made up of cookies, crackers, candy (including chocolate), and chips. Depending on what products are included, the industry sells about $400 billion annually.
Tastes vary a lot from region to region of the globe, and demand depends not only on population, but also consumer tastes and health considerations. As is true in many industries, the big players enjoy advantages of economy of scale and marketing, while smaller players find success in specialty products and knowledge of local markets. As an example, it took Kraft a year to successfully introduce Oreos into the Chinese market, and by the time they did the product was quite different from the one that is the most popular cookie in the United States.
One market segment that is experiencing overall growth is savoury biscuits, driven by consumer demand for new flavors and by a concern for healthy snacks. More than any other category, savoury crackers have been redesigned for local markets by introducing ethnic flavours, reducing sugar and fat, and increasing fibre.
Worldwide, North America and Europe are the largest, mature markets, making up about 70% of sales, while the rest of the world is growing about three times as fast. The market is also highly competitive and quite fragmented, and because of the factors cited above regarding local variations in tastes, it is likely to remain competitive and fragmented for the foreseeable future.
According to a Nielson study, the single largest snacking segments in each region of the world are confections in Europe and the Middle East/Africa, salty snacks in North America (potato chips dominate), refrigerated snacks in Asia/Pacific, and cookies and snack cakes in Latin America.
Snacking is quite universal, with 76% of respondents to the Nielson survey saying they eat snacks often or sometimes to satisfy their hunger between meals or to satisfy a craving, and 45% eating snacks as a meal alternative. Consumers who eat snacks as a meal alternative are more demanding so far as health characteristics such as low sugar and calories are concerned. Savoury crackers and fresh fruit seem to be the biggest beneficiaries of this trend. Nonetheless, consumers eat a wide variety of snacks when asked about their habits in a 30 day period, meaning there is room for producers and distributors of practically any type of snack. Indians are the most likely to replace meals with snacks, while northern Europeans are the least likely.
Sri Lanka is a country of about 20 million people and has a documented history which spans 3,000 years. It is home to a diverse group of religions and ethnicities, although Buddhism is by far the predominant spiritual belief. After suffering a civil war lasting nearly 30 years and ending in 2009, Sri Lanka has emerged as a fast growing economy. It is the only country in South Asia that is currently rated "high" on the Human Development Index, and is the oldest democracy in Asia.
Because of its long history, Sri Lanka is home to many fascinating and ancient temples, ruins and settlements. One fascinating destination is Sigiriya, a fortress built in the fifth century which sits on top of a massive outcropping. The landscaping and terracing are marvels, and many of the murals contained there are unique.
Sri Lanka’s most important exports are tea, coffee, spices, gems, cocoa, coconut, and rubber. The country produces a lot of agricultural and food products, and the food industry is highly developed. Sri Lankan cocoa is world famous, and exporters of savoury crackers and sweet biscuits have had considerable international success. Exports of Sri Lankan confectionery products have more than quadrupled in the past 9 years to $40 million.
Sunrich Confectionery Sells Snacks in Sri Lanka
In addition to producing the tastiest biscuits in Sri Lanka, Sunrich Confectionery boasts a modern manufacturing facility capable of producing not only the broad product range offered under their own label, but also other varieties based on wholesale customers’ recipes. Sunrich Confectionery is the best solution for companies that need to expand product offerings quickly and rest assured that their private label brands represent them with quality and consistency that today’s consumer demands.
Another strength possessed by Sunrich Confectionery is its extensive distribution network with lorries and warehouses located throughout the country along with export capabilities that allow its products to be delivered efficiently throughout the world. Sales, invoicing and warehousing operations are computerized, ensuring timely delivery of house brands and private labels. Any company is only as good as its people, and Sunrich Confectionery has the best sales and distribution personnel available.
Sunrich Confectionery is also proud of the fact that it is on the Halal Compliance Certified Companies list. Halal certification means that all of its food has been processed in strict compliance with Halal procedures and that regular audits ensure that the company continues to follow Halal guidelines. Whether the customer is retail or wholesale, Halal or not, the quality of Sunrich Confectionery products is sure to please.
Because of its commitment to continuous quality improvement, Sunrich Confectionery has been selected to receive the BID International Star Award for Quality for 2015 at the convention in Geneva.
About BID and the International Star Award for Quality:
BID is a private and independent organization founded in 1984, whose primary activity is business communication orientated towards quality, excellence and innovation in management. A leader in the broadcasting of Quality Culture, BID recognizes those companies and organizations which lead the most important activities in the business world, and is considered the founding organization in the broadcasting of the Culture of Quality, Excellence and Innovation in 179 countries.
The trophy symbolizes a pledge to the principles of Quality Culture. The QC100 Total Quality Management Model, together with the Quality Mix program, media coverage of the convention and its impact on the community and business sector, create an unmatched platform for continuous improvement within the organization and awareness of the achievements of the company at an international level.
Awards are given only to those who are committed to improving their Quality Culture based on the principles of the QC100 Total Quality Management Model. Candidates are proposed by the leaders of previously awarded companies who they consider worthy of the award. Especially meritorious candidates may also be nominated. The International BID Quality Award Selection Committee then chooses the winning companies who will receive the award in New York, Paris, Geneva, Frankfurt, Madrid and London.