Monday, July 18, 2016

Mother's Recipe plans frozen food foray, eyes Rs 500 crore revenue

Pune-based packaged foods brand Mother's Recipe, which is eyeing a turnover of Rs 500 crore by 2018-19, is planning to enter the frozen food category in the next two years.

It clocked a revenue of over Rs 200 crore in 2014-15, while the estimated turnover for 2015-16 is Rs 250 crore.

"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 PTI here.

The brand, which has a portfolio of pickles, ready-to-cook mix and cooking pastes, among others, is planning to foray into the frozen food category and will set up a dedicated unit in Gujarat.

"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.

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