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Mother’s Recipe eyes to double HoReCa divn’s growth in current fiscal
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Thursday, 16 May, 2019, 16 : 00 PM [IST]
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Our Bureau, Bengaluru
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Mother’s Recipe, one of India’s leading Indian food brands is focussing on expanding its food service division (HoReCa) nationally and plans to double the growth in the current fiscal.
In the food service division, the company has the following products under its flagship brand, Mother’s Recipe Food Service: Indian gravies, pickles, spices, papads, condiments, ginger garlic paste, etc. The Elmac range has Kasundi, a range of Chinese sauces, lemon juice and jams and fruit pulp. The Dabee and Spread-on is a range of eggless mayonnaise. These products, according to the company, are tailor-made for the HoReCa segment, with pack sizes ranging between 100g and 10kg.
Currently, the company has operations across Mumbai, Pune, Ahmedabad, Delhi NCR, Kolkata, Guwahati, Bhubaneswar, Hyderabad, Chennai and Bengaluru, with a distribution network and sales team. The company caters to various segments of food service like star hotels, restaurants and caterers, fine dining to QSRs (quick service restaurants) as well as railways and airlines.
Sanjana Desai, chief strategy officer, Mother’s Recipe, said, “The Indian foodservice sector has witnessed a rapid growth in the past decade. This is attributed to the increased number of nuclear families, changing demographics, increased disposable income, rapid urbanisation, and growth of online services. According to recent reports, the India foodservice market is currently pegged at Rs 5 lakh crore, and is estimated to grow at a rate of 12 per cent during the forecast period (i.e., between 2018 and 2023).
“As a brand we have been focussing on building the appropriate infrastructure to ensure timely delivery and consistency in taste and a superior quality of products which are essential for this segment. Our products offer solutions for food service – great-tasting products that save time, costs and ensure consistency in the end offerings. We also innovate products together with our clients to meet their requirements,” she added.
Desai Brothers have four major manufacturing facilities in Pune (Maharashtra), Bharoda (Gujarat), Kolkata (West Bengal) and Jabalpur (Madhya Pradesh), which give the company the leverage to manufacture quality and cost-efficient products and ensure timely delivery to the end consumer.
The company is focussing on investing in product development and distribution infrastructure. It reaches 4,000 key accounts and plans to increase the numbers to over 8,000 accounts in markets which are operational.
“Currently, the food service division contributes only around 5-6 per cent of our overall India business. However, we have witnessed a rapid 50 per cent growth in FY18-19. Going forward, we plan to double our business in FY19-20, and in the next five years, we are targeting to contribute to over 20 per cent of our overall Indian business,” Desai added.
“The FMCG (fast-moving consumer goods) market is ever-evolving, and consumers are always looking for something new and exciting. The Indian FMCG market has been growing steadily at 25 per cent per annum. Even the pickles, where Mother’s Recipe are market leaders, have been growing at a compound annual growth rate (CAGR) of 10.7 per cent and RTE (ready-to-eat)/RTC (ready-to-cook) categories at a CAGR of 17 per cent. With a market that is cluttered with multiple players, Mother’s Recipe, as a brand has continued to stand out due to its trusted range of products, and constant focus on reinvention, to meet consumer demands,” she added.
With the renewed focus on growing categories like condiment pastes, RTC, instant mixes and other verticals, the company predicts an impressive growth of 22 per cent year-on-year. On the exports front, it plans to expand its current global footprint to newer markets in Europe and Africa. Currently, Mother’s Recipe exports to 42 countries and international market revenues contributing to 40 per cent overall sales.
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