India, the top flavour for German food firm Dr Oetker; to launch new products

German food company Dr Oetker is betting big on India, which has emerged its fastest growing market, globally. The company, which established its presence in India about a decade ago, aims to make FunFoods, a ₹500-crore brand by 2020. The company has now expanded its presence in the dressings segment.

Martin Reintjes, Member of the International Executive Board of Dr Oetker’s food division, said: “Since we started our business in India ten years ago, it has seen a steady growth. In fact, India has been the fastest growing unit for the company, globally. India is also now among the top 20 global markets in terms of turnover.”

While the company is globally known for its frozen pizzas, muesli and home-baking products, in India, it is the leader in segments such as mayonnaise, western sauces and spreads. Dr Oetker India crossed the ₹200- crore turnover mark last year, thanks to brand FunFoods, which it acquired in 2008.

‘Comfort food’

“We define ourselves as a company that offers comfort food. We are focussing on building new categories for consumers here in India and see a huge potential for growth. While we support the India business with the expertise from other markets, as a consumer-centric company, we want to offer products that meet the needs of Indian consumers,” he said.

On the inorganic growth strategy for India, Reintjes said, “We are open to acquisitions and are actively screening the market for opportunities.”

Oliver Mirza, MD & CEO for India, said: “We have defined a vision of making Dr Oetker India, a ₹1,000-crore company. We believe FunFoods will cross the ₹500-crore turnover mark by 2020.

The balance revenues will come through inorganic growth opportunities and exports.” The company has already started exporting to markets like Malaysia and Sri Lanka from India.

Zero-fat dressings

The company is expanding the FunFoods brand with the launch of a new range of zero-fat dressings with flavours such as Caesar, Honey Mustard, Zesty Orange, and Sweet Onion.

“The zero fat dressings range has been developed after an in-depth consumer research and is designed to attract new users and offer them a product that can be enjoyed guilt-free. This range will initially be targeted at urban consumers,” Mirza said.

“We believe this new range of zero fat dressings will contribute about 20 per cent to our revenues by 2020,” Mirza said.

Source:-https://www.thehindubusinessline.com/news/india-the-top-flavour-for-german-food-firm-dr-oetker-to-launch-new-products/article24212577.ece

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