Craft Beer Makers Should Flow With The ‘Immunity Boosting’ Trend, Says GlobalData India’s craft beer makers can weather the Covid-19 storm by incorporating “immunity-boosting ingredients”, according to leading data and analytics platform GlobalData, following a trend that is clearly taking hold among fast-moving consumer goods companies.
“Craft beer companies often experiment with flavors, nutritional content and water composition. Adding functional ingredients can be a differentiating, yet familiar feature for beer drinkers in India,” said Kshama Raj, consumer analyst at GlobalData. This has already been done in Japan, where Ryukakusan Tazawako — a wheat beer brand — claims to alleviate cough symptoms due to the added dragon herb, she said in a report.
GlobalData’s 2023 forecast for beer and cider category in India has been revised down from $12.9 billion to $10.7 billion. Around 21% of Indian consumers drink craft beer, popularising bottled craft beer brands such as Bira 91, Simba, The White Owl, Kati Patang, Medusa Beer, White Rhino, and Brewbot — all startups.
Fitness Startup Fitternity Looking At Raising $12-15 Million By January Fitness startup Fitternity plans to raise $12-15 million (Rs 90-112 crore) from overseas investors by next January to fund its expansion at a time its business has been “badly hit” by the pandemic. The company has been operating across Mumbai, Delhi-National Capital Region, Bengaluru, Pune, and Hyderabad and just has opened in Ahmedabad, Chennai, Jaipur, Kolkata and Chandigarh. It plans to enter Kochi, Lucknow and eight more cities by March, co-founder and Chief Operating Officer Jayam Vora told PTI.
KKR Plans To Buy Stake In Fintech Startup Incred
Private equity firm KKR is all set to buy a stake in fintech startup InCred Finance, PTI reported quoting a person aware of the matter. KKR and InCred have signed an exclusivity agreement under which the private equity firm plans to merge its retail non-bank lending arm with InCred.