Mother’s Recipe, the iconic packaged food brand from Desai Brothers clocked revenue of over Rs 200 crore in 2014-15. The firm is now planning to enter the frozen food category. While the estimated turnover for 2015-16 is Rs 250 crore, the Pune-based company is eyeing a turnover of Rs 500 crore by 2018-19.
“For financial year 2016-17 also we are expecting a 25 per cent growth. In the next 3 years we are looking at Rs 500 crore turnover,” Desai Brothers – Food Division (Mother’s Recipe) Vice President – Marketing and Sales, P Rajan Mathews, told media.
According to the reports, the brand will set up a dedicated unit for its frozen food category in Gujarat. Mother’s Recipe is known for a wide array of products such as pickles, ready-to-cook mix and cooking pastes. It sells 47 varieties of pickles in the domestic market and has 25 per cent market share in the Rs 450 crore organised pickle industry in India.
Read more related to : Frozen Food Industry
“Frozen food is something we will see tremendous growth in . Two years down the line, we have plans of setting up a frozen unit for exports and domestic market.
“We are looking at frozen vegetables and frozen vegetarian snacks. Frozen vegetarian snacks is growing at 21-22 per cent CAGR and that is one of the segments which will grow. The only lacuna is cold chain, which has to be developed,” he said, without divulging the financial details.
The global frozen food market is estimated to reach USD 306 billion by 2020, according to Allied Market Research.
Mother’s Recipe has two exclusive stores in Pune and plans to introduce the ‘experience zones’ to other major cities in the future. “We have started in Pune with 2 stores. We are looking at it as an experience zone. This year we should have 3 in Pune. We will wait for a year and then roll out in major cities. At least 2-3 store in each major city,” Mathews said.
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