New peanut butter wants to claw into SA’s R1bn market
WOW! is a punchy a new arrival on the SA peanut butter scene recently launched by Martizburg-based International Food Group (IFG).
The nut butter, manufactured in India, will take on sectoral heavyweights like Tiger Brand’s Black Cat and RCLs Yum Yum. Is there room for another brand on supermarket shelves?
Definitely, if Stats SA is to be believed: it says 0.05% of every rand spent on groceries in South Africa goes towards the purchase of peanut butter.
South Africans consume around 80 000 tonnes of peanuts each year and spend more than R1-billion on peanut butter.
IFG director, Mohammed Essack, says “the fact that South Africans love peanut butter is good news, especially in tough economic times when there’s a tendency for cash strapped-shoppers to fill their tummies with non-nutritious, cheap foods.
“Peanut butter has three important characteristics – it’s high energy, contains protein and (mostly unsaturated) fats.”
Essack says that WOW! is a premium quality peanut butter that will be available at an affordable price, “in line with our company objective to provide consumers with products that add value to their basket”.
WOW! Peanut Butter is made in India (the second largest grower of peanuts after China) in a factory that is approved by the British Retail Consortium (BRC), the trade association that oversees food safety protocols for the UK food retail industry.
Source: Food & Beverage Reporter, June 2019 issue: read the magazine online here for many other fascinating newsy items on the SA food industry and beyond…361 Views