In line with the brand’s commitment to energy efficiency and environment, Godrej was the first in India to introduce Deep Freezers with 4 star & 3 star certified BEE energy rating
Godrej Appliances, business unit of Godrej & Boyce, the flagship company of the Godrej Group, has recorded over 100% volume growth for Deep Freezers this summer season in comparison to pre-pandemic summer of 2019.
This growth was led by rising temperatures in the summer season that brought about an incremental demand and consumption of ice creams across India. Moreover, ready-to-cook and frozen foods are gaining popularity and acceptance among the working professionals and millennial generation, especially with a boom in the variety of frozen foods being offered to consumers today.
India’s commercial refrigeration market is sized at approx. 1 million units with 10% -12% CAGR in the last 5 years. This year, the industry grew by 15% over the previous year, and the expected CAGR over the next 5 years is also around 15%. Godrej Appliances is ready to cater to this increased demand and has witnessed robust growth across India.
Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce said, “We witnessed high growth this year for Deep Freezer category which accounts for around 5% of our overall business. We are currently at 10% market share for this product category. In next two years, we plan to invest over Rs 25 crores towards adding new models and expanding production capacity. This will help us to grow our market share to 15% by FY 23—24, and achieve our goal of doubling market share to 20% in the next 5 years in Deep Freezers.“