Tag: Beyond Snack

In the popular snack food industry, banana chips have become a favorite healthy snack for many. Within this industry, Beyond Snack emerges as a standout brand, offering authentic banana chips in a variety of flavors, revolutionizing the traditional snacking experience. Co-founded by Manas Madhu, Gautam Raghuraman, and Jyoti Rajguru, Beyond Snack has not only carved its niche with premium-quality chips but has also witnessed remarkable growth, solidifying its position in the market.

Learn more about Beyond Snack’s diverse products, the visionary founders behind its success, the funding journey that fueled its expansion, and more.

Beyond Snack – Company Highlights

Beyond Snack – About
Beyond Snack – Industry
Beyond Snack – Founders and Team
Beyond Snack – Startup Story
Beyond Snack – Vision and Mission
Beyond Snack – Name and Logo
Beyond Snack – Products
Beyond Snack – Launching Company Strategies
Beyond Snack – Customer Growth and Retention Strategies
Beyond Snack – Challenges Faced
Beyond Snack – Marketing Campaign
Beyond Snack – Growth
Beyond Snack – Funding
Beyond Snack – Startup Programs and Grants
Beyond Snack – Competitors
Beyond Snack – Future Plans

Beyond Snack – About

Beyond Snack is a Banana chips brand based in Alappuzha, Kerala. Launched in 2020, the brand gained recognition after appearing on Shark Tank India in 2022 and securing investments from industry leaders. Beyond Snack aims to revolutionize Kerala banana chips, aspiring to become the go-to brand for this popular snack. Made with superior raw materials and high-quality bananas, their chips are cholesterol-free, trans-fat-free, and GMO-free. Currently available in multiple flavors, Beyond Snack has a solid retail presence in Maharashtra, and a nationwide online presence. The company also operates in the United States, the United Arab Emirates, the UK, Singapore, Qatar, Nepal, and Mauritius.

Beyond Snack – Industry

The snack food sector is set to grow by 7-8% annually, with potato chips making up a whopping 85% of the salty snack market share. Now, let’s talk about bananas. India tops the charts as the world’s largest banana producer, yet a vast majority of these bananas — around 90% — are eaten fresh within the country. Of that, only a slim 5% make it into the processed snack scene, and a mere 2.5% are turned into banana-based products.

In Kerala, the banana chip production has a homespun charm — it’s mostly done in a scattered, informal way. This leaves the market wide open, with no major brands dominating the scene. It’s a sector sprinkled with local players, each dipping their toes in the water rather than taking the plunge.

Beyond Snack – Founders and Team

Manas Madhu, the proud Co-founder of Beyond Snack, is a first-generation entrepreneur with a background in Business Consulting. Before diving into the entrepreneurial world, he honed his skills at IBS Software Services as a Business Consultant and later at Capgemini as a Senior Consultant. Manas holds an MBA in Operations Management from Symbiosis Institute of Business Management, Pune, and a BTech in Electrical & Communications Engineering from the University of Kerala.

Growing up in a quaint village in Kerala, Manas always dreamed of starting his own business. His love for food has been a constant, even during his corporate days, always sparking ideas for a food venture back in his homeland. In 2018, he took the plunge and left his job to focus full-time on Beyond Snack.

Leading Beyond Snack, Manas is all about delivering top-notch banana chips globally, staying true to the promise of authenticity and premium quality. As the Managing Director, he is knee-deep in Marketing and strategy, aiming high to elevate Beyond Snack to a 1,500-crore brand in the next 5 years.

Steering Operations and Supply Chain is Jyoti Rajguru, bringing over a decade of experience from her time at Mondelez, where she worked with household names like Cadbury, Tang, Oreo, and Bournvita.

Guiding the Sales and Distribution department is Gautam Raghuraman, another seasoned professional with over ten years under his belt, formerly with ITC, where he contributed to brands like Bingo and Ashirvad.

There’s a shared history here too—Jyoti, Gautam, and Manas all cut their teeth in business together during their MBA days at the Symbiosis Institute of Business Management in Pune. Their commitment runs deep; before they joined the leadership team, both Jyoti and Gautam were investors who believed in the company’s potential. Now, they’re integral to driving Beyond Snack forward with their experience and insight.

Beyond Snack – Startup Story

Manas, the co-founder of Beyond Snack, started the journey as a typical tech enthusiast in Kerala, growing up in Chennithala, in the Alappuzha district. His academic path took him through a BTech in Electronics and Communications Engineering at Kerala University, and later, an MBA from Symbiosis Institute of Management in Pune. As he dived into the world of business administration, the seed of entrepreneurship took root in his mind. However, like many others with middle-class roots and big ambitions, he decided to gain some solid work experience first. Manas honed his skills as a business consultant at various MNCs.

During his stint as a consultant, Manas became fascinated with the potential of the value-added food industry. Weekends at the company offered him free time, which he spent traveling and connecting with folks in the food business. By 2018, he was ready to chart his own course.

His entrepreneurial debut wasn’t with bananas, though. Manas first launched a mock meat product made from jackfruit under the company now known as Dr. Jackfruit India Pvt Ltd. But that venture faced challenges — the mock meat didn’t quite hit the mark in taste, and sourcing jackfruit consistently proved difficult.

Bananas, on the other hand, were a different story. They’re a beloved staple in Kerala and come with a steady supply chain. Manas’s focus then shifted to perfecting the quality and expanding the variety of banana chips. Beyond Snacks was born out of a desire to offer authentic, premium-quality chips nationwide.

The inspiration for Beyond Snacks struck unexpectedly during one of Manas’s trips when he bought a pack of chips that not only tasted awful but also upset his stomach. This experience highlighted a clear market gap for high-quality banana chips. Manas visited 42 different chip manufacturers and was dismayed to find that not one adhered to the standards of hygiene and cooking practices he expected. Seeing this gap as an opportunity, he set out to create a product that stood for quality and hygiene. Beyond Snacks was launched in January 2020, after months of rigorous research and development.

Getting Beyond Snacks off the ground was made possible with the initial support from 100X.VC, which believed in his vision. Looking back, it’s clear that Manas’s journey from a techie to an entrepreneur has been anything but typical, driven by a desire to innovate and improve upon what’s expected.

Beyond Snack – Vision and Mission

Beyond Snack aspires to redefine snack aisles globally by placing a pack of banana chips next to a pack of potato chips on every retail shelf. At Beyond Snack, the company is passionate about taking Kerala banana chips to the world stage and turning the brand into a go-to snack in every home. Commitment to cleanliness is at the core of Beyond Snack, and the company is all about using top-notch ingredients and the finest bananas to make its chips. Beyond Snack has always aspired to be more than a snack company. The company has been deeply committed to making a positive impact, particularly within the banana farming community.

Beyond Snack’s facilities are strategically placed in rural areas, where the company takes pride in offering employment opportunities and supporting local livelihoods. Looking ahead, Beyond Snack envisions itself becoming integral to daily life nationwide. This vision is deeply rooted in the company’s beginnings and continues to guide its journey.

At Beyond Snack, the company’s mission is to lead the evolution of the banana chips category. Within the next five years, Beyond Snack anticipates a dynamic expansion that will transform banana chips into a mature and sizable market segment. The company expects to see a diverse range of contributors driving growth in market value. As the current frontrunner in this category, Beyond Snack is dedicated to maintaining a significant share of the market and continuing to set the standard as the number one choice for banana chip enthusiasts.

Beyond Snack – Name and Logo

As Beyond Snack developed and refined its product, the company consciously decided to be more than just a snack company. The team saw the vast potential in the Banana value chain to make a real difference. By sourcing directly from farmers, Beyond Snack is in a position to greatly support their livelihoods, and with its factories located in rural regions, the company is helping local communities envision a future with stable, improved incomes.

Beyond Snack is on a path to explore these possibilities and more. The aim is to transcend the typical snack brand image and become something more—something greater. That’s the inspiration behind the name: “Beyond Snack.”

Beyond Snack – Products

Manas has always been drawn to the idea that the right product comes from the right source. That’s why, at Beyond Snack, the company sources its nenthran bananas seasonally, directly from dedicated farmers across Kerala and neighboring southern states. What happens next is a blend of tradition and technology — these bananas are processed in the factory with minimal human touch and then distributed through eCommerce platforms, retail stores, and supermarkets.

Beyond Snack has redefined the cooking process, standardizing each step to reduce the cooking time of sliced bananas to just a tenth of what’s usual for traditional banana chip production. This not only cuts down the oil absorption but also yields chips with 20% less fat than the average banana chip.

But here’s what really sets Beyond Snack apart: bananas are sliced and turned into chips within 24 hours of being plucked from the tree, locking in that unmistakable farm-fresh flavor. Beyond Snack’s chips are lighter on the stomach, with a consistent thinness and crispness that elevate the snacking experience.

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Beyond Snack – Launching Company Strategies

Manas Madhu, the Co-founder of Beyond Snack, and his team experienced a pivotal moment at the VAIGA expo, an event organized by Kerala’s Department of Agriculture in Thrissur. Setting up a stall at the expo, they handed out free samples to the crowd. To their delight, many visitors were not just enjoying the samples but were also eager to know if they could buy them then and there. That very night, the call was made to move their stock from Alappuzha to Thrissur to meet the demand. In the span of those five days, they managed to sell products worth Rs 1.2 lakh. It was a real eye-opener for them about the demand for their snacks.

Beyond Snack – Customer Growth and Retention Strategies

Madhu acknowledges that the team was initially cautious about spending on marketing. The priority was to ensure the product had a definite place in the market and a real demand. They focused on validating the product-market fit, aiming for repeat sales, a natural demand, and healthy gross margins. Once evidence of a sustainable and scalable business model was established, the decision was made to invest in marketing. This strategy proved effective in maintaining a low customer acquisition cost (CAC).

In crafting the brand image and consumer perception, Beyond Snack launched its first campaign titled ’24 Carat Taste.’ It’s not just about maintaining visibility; it’s about continuous growth and reaching new customers.

Post ‘Shark Tank,’ a show that significantly increased Beyond Snack’s visibility, more people discovered the brand. It became clear that there was a need to connect with the next tier of customers. This led to the implementation of storytelling campaigns. The goal now is to extend Beyond Snack’s reach beyond the initial audience. Storytelling is considered powerful—it resonates and sticks with people, and that’s what Beyond Snack is leveraging to reach the masses.

Beyond Snack – Challenges Faced

Madhu wanted to shake things up and show that banana chips can be more than just a conventional snack, with innovation in flavor being a key element. The goal behind the newest launch, crinkle-cut Banana Waves available in Cheesy Jalapeno and Sriracha Delight, was to capture the attention of a broader crowd, especially the younger audience who might see traditional banana chips as a tad mundane. Crinkle cuts aren’t just about looks; they offer a more satisfying crunch and hold onto seasonings way better. It’s a simple change that makes a world of difference to the eating experience.

Today’s generation loves to experiment, and they’re always on the hunt for the next exciting thing to try. Many brands are dialing into this by offering a myriad of flavors, and the team figured, why not banana chips? Before creating a new product, the R&D team spends a considerable amount of time getting to know the audience and their preferences.

They engage with potential customers to understand their preferences – what draws them in and the kind of flavors they’re chasing after. It’s not just about throwing random new tastes into the mix; the flavor has to hit the right note because taste is the cornerstone of a product’s success.

Previous launches have always been guided by customer insight, and with Banana Waves hitting the shelves, Beyond Snack will be eagerly gathering feedback to ensure they’re on the right track and to see if there’s anything consumers would like them to tweak. While they’ve played around with quite a few flavors, they decided to introduce just these two to start, keen to see how they resonate with the market.

Beyond Snack is testing the waters to see if the audience feels the same buzz about these chips before going big, taking them across India, and eventually, globally. If Cheesy Jalapeno and Sriracha Delight become fan favorites, there are plans to whip up more flavors in the near future.

Beyond Snack – Marketing Campaign

Manas discusses the post-‘Shark Tank’ era, highlighting the launch of their major storytelling venture, the ’24 Carat Taste’ campaign. In this campaign, they play with the idea of comparing their banana chips to 24-carat gold, emphasizing their premium quality. Sterling AG, the creative agency they teamed up with, executed this vision perfectly.

As a burgeoning brand, they were eager to expand their reach. While they could have focused the campaign on the technical aspects—how they ensure the perfect texture, and crunch, and their healthy cooking methods and rigorous quality checks—they recognized that customers are looking for more than just technical details. Customers want to know, at a glance, if the product hits the mark of excellence they’re after.

Opting for brevity and impact, the ’24 carat’ quality of their banana chips became the focal point, aiming to make Beyond Snack synonymous with the gold standard of snacking.

The core message revolves around the idea that, in every category, there’s a gold standard, such as the iPhone in smartphones or Nike in sportswear, and that’s the league Beyond Snack is aiming for in the banana chip game. This idea became the essence they wanted to communicate to their customers.

For this campaign, they decided to stay digital-first but are also setting their sights on OTT platforms for an even broader reach. It’s an exciting time for Beyond Snack, and Manas can’t wait to see how this new chapter in storytelling takes the brand to new heights.

Beyond Snack – Growth

Beyond Snack’s journey has been one of dynamic growth, not just in the range of products but also in reach. Beyond Snack is on the cusp of widening its presence by expanding to over 9,000+ offline retail outlets across 25 cities in 10 states, while also strengthening its online presence.

Reflecting on 2023’s performance, Manas is thrilled to share that Beyond Snack’s revenue has soared, almost doubling since the year’s start. The company is on track to triple last year’s revenue by the end of this fiscal year. It’s an exciting time for the banana chips sector, which is rapidly carving out its niche in the snack world.

A significant part of Beyond Snack’s success is attributed to how the brand has been positioned — as a ‘clean,’ simple, straightforward, and trustworthy choice. While banana chips are familiar to the Indian palate, they have often been lost in the broader category of ethnic snacks. Beyond Snack has managed to give banana chips their own identity, setting them apart from the crowd.

The strategy is straightforward — Beyond Snack is presented as the most reliable and delicious choice for banana chips, adhering to the highest hygiene standards. This resonates with consumers and is shaping the narrative in their favor. The goal is clear: Beyond Snack intends to lead the charge in this burgeoning category, harnessing the full potential of the banana and continuously reimagining this fruit snack in exciting new ways.

Beyond Snack – Funding

Here are the funding details of Beyond Snack:

Beyond Snack – Startup Programs and Grants

The grant provided by the Raftar Agri-Business Incubator has been of significant benefit to Beyond Snack. The company was chosen as one of the startups to participate in the Accelerate program. In the early stages of their engagement, Beyond Snack received a grant amounting to INR 20 lakhs.

Beyond Snack – Competitors

At present, the market is predominantly occupied by unorganized players, accounting for 99% of the sector. However, a gradual transition towards more structured and organized operations is being witnessed. Beyond Snack aims to be at the forefront of this shift, particularly within the banana chips segment.

Banana chips are the primary focus of Beyond Snack, making them the only company in India to specialize in this product line. However, larger brands such as Balaji and Haldiram’s have also included banana chips in their portfolio as a separate category.

Beyond Snack – Future Plans

At Beyond Snack, the company is setting its sights on the coming one to two years to expand distribution, aiming to make products readily accessible in major metropolitan areas and tier 1 cities across India. Additionally, Beyond Snack is on the cusp of introducing a variety of meaningful innovations in its banana chips range to provide consumers with an array of choices. These efforts are strategically designed to enhance household penetration.

FAQs

When was Beyond Snack launched?

Beyond Snack was launched in the year 2020.

Who invested in Beyond Snack in Shark Tank?

Boat Co-founder Aman Gupta and BharatPe Co-founder Ashneer Grover invested in Beyond Snack in Shark Tank.

What was the first campaign of Beyond Snack?

Beyond Snack launched its first campaign titled ’24 Carat Taste.