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Expansion 2016-07-28

How Food Companies can benefit from constant innovations?

With an increase in awareness and education, consumers have become very selective in quality and taste of their food. They have become more demanding and hence the traditional offerings and approaches do not work to keep them loyal.

By Chairman & MD
How Food Companies can benefit from constant innovations?

Over the years Indian food companies have been regularly innovating themselves, coming up with new and varied products, local and indigenous ingredients all contributing largely to the growth of food service market in India. With brands getting more organised, food companies today spell quality, practical and great tasting food, becoming a household name in India.

Today, the brands are known for their unique recipes, health oriented ingredients and state-of-the art quality controls and standards. Known for product innovations as well as offering customised and localised food products, these companies have an extensive product range including Indian gravies and curries, Tomato Ketchup, Sauces, Mayonnaise, Bread Spreads, Salad Dressings, Syrups and Dessert Toppings.

“Cremica is known for its product innovations and offering customised and localised food products. We are constantly trying to offer quality products to our consumers.” Increasing consumption of high value food products is resulting to a rapid expansion of the Indian economy which further results in changing lifestyles and aspirations.

Pushing the growth

Not only HORECA, but companies have also grown their retail side of the business which is continuously growing at the rate of 40 – 45 per cent annually and given the fact that the Cremica brand is today one of the most visible brands in the condiments business, our penetration and increase in retail sales is expected to be pre-nominal in the coming years.

According to the industry dynamics, the segment will continue in a very major way moving forward and this will lead to exponential growth in the food industry. With improved lifestyles, increasing urbanisation and disposable income in India that leads to a big increase in consumption of condiments and growth of the food services sector helps in familiarising customers about new types of products and is helping innovative companies like us to introduce new products in the market. The right brand mix for the market plays a very important role where Premium brands assure good and quicker realisation.

With an increase in awareness and education, consumers have become very selective in quality and taste of their food. They have become more demanding and hence the traditional offerings and approaches do not work to keep them loyal. Category enhancement and increasing shelf space for newer categories like Tombo ketchup, Opera crisps and Mayonnaise etc are going to increase average cart size of shoppers and these products offer better and healthier margins than traditional categories being sold from these formats. The spicy Tombo ketchup adds the perfect tangy experience. Also Opera crisps which are India’s first cottage style potato crisps prepared in olive oil for a healthy and a delightful experience. Our ready-to-eat packaged French Fries with ketchup cater to this very need of consumers bringing you one of the most satisfying snack experiences. Their epic flavour assures that each bite is as good as your favourite fast food treat. Our range of mayonnaise provides a burst of flavour with each bite and adds a creamy delight to all kinds of savoury dishes.

While coming up with new innovations the companies should also keep in mind the fact that something convenient and consistent will work wonders in the market.The condiments market in India is estimated to be about Rs.1000 crores today which is growing day by day. 

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