Reports note that the company is looking to scale the foods vertical to Rs 2,000 crore in the next three to five years
Emami Agrotech, the edible oil, food and bio-diesel arm of the diversified Emami Group, has marked its entry into the branded staples market. The company is looking to scale the foods vertical to Rs 2,000 crore in the next three to five years, as per the reports.
The company is making its foray into the Rs 80,000 crore branded staples market with Emami Healthy and Tasty fresh chakki atta, maida and suji, the reports mentioned. The company is looking to add more categories and variants to the foods portfolio going ahead.
The reports noted that through this move, the company is eyeing to enter from the pantry to the centre of the Indian kitchen space. The food vertical is about Rs 400 crore currently and comprises spices, soya chunks and rice bran oil, the reports emphasised.
Within the next couple of years, the company is expecting to capture around 15 to 20 per cent of West Bengal’s branded staples market, as per the report, which added that the company is also on the lookout for acquisitions in the food space in the East.
The reports added that the country’s food industry is reporting a shift towards branded staples, with consumers increasingly tilting towards hygiene, brand assurances over unbranded alternatives. The company is looking to cash in on the momentum with products led by its distribution network and supply chain, as pointed out by the reports.
