EGYPT – Edita Food Industries, Egyptian leader in packaged snack food market, has received approval from the Egyptian National Food Safety Authority (NFSA) to label all products under its flagship Molto brand as free of hydrogenated fats.
To this end, packaging for the baked product portfolio, the company’s second largest contributor to revenues, will now include a clear label reading, ‘Made Without Hydrogenated Fats’.
This is part of the company’s sustainability compliance framework, and in line with its efforts to implement the highest standards in the area of Environment, Social, and Governance (ESG).
“Edita’s deep understanding of its responsibility as a household brand and favoured snack food producer prompts it to focus on its consumers’ wellbeing by improving the choice of raw ingredients and materials used in its products.
“As such, with the input of its state-of-the-art Research and Development (R&D) department, Edita continues to improve the nutritional value and the ingredients used in the evolution process of the company’s products.
“The company is also conscious of the rapid global evolution and is keen to be in line with international standards and requirements for the production of sustainable products,” stated Edita in a press statement.
According to World Health Organization, the hydrogenated fats are a risk factor for noncommunicable diseases and increased intake (>1% of total energy intake) is associated with coronary heart disease events and premature death.
In a bid to eliminate its use worldwide by 2023, the global health body, recently announced a new certification programme to recognise countries that have eliminated industrially produced trans-fatty acids from their national food supplies.
Edita Food Industries launches new wafer product
In other related news, Edita Food Industries has launched a new wafer product, Freska Choco Sticks with hazelnut filling.
The new launch comes as the Egyptian Exchange and London Stock Exchange listed company, works to expand its footprint in the fast-growing wafers segment while delivering on the company’s revenue diversification strategy and capturing greater market share.
In 2021, Edita doubled its market share in the wafer segment to approximately 15%, becoming a market leader in the coated wafers subsegment.
The launch of Freska Choco Sticks capitalizes on Edita’s successful launches of its Freska Sticks and Freska Block lines of coated wafers in 2020 and 2021, respectively.
Revenue from Edita’s wafers segment represented 10.2% of the company’s consolidated top line in 3Q2021, up from 7.6% one year previously, making wafers its third largest segment by revenue.
The segment grew at a rate of 77.0% year-on-year in 3Q2021 and at 87.8% year-on-year during 9M2021, making it Edita’s fastest-growing line of business.
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