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Cold condiments to see high growth on retail HORECA rebound
New Delhi-based Cremica Foods is eyeing a 40% leap in terms of turnover in FY23. After the industry suffered a setback in the initial period of COVID-19 pandemic and subsequent lockdowns, the company has seen a strong rebound in both retail and Hotel/Restaurant/Café (HORECA) segments. With an ability of Rs 350 crore business generation of liquid condiments yearly, the company now operates the largest tomato ketchup factory in India and is the leading producer of ketchup portion packs in the country.
Akshay Bector, Chairman & Managing Director, Cremica Foods, said “The market is experiencing a very robust recovery driven largely by rising outside-the-home consumption. This year, the retail industry will experience robust growth in demand. Additionally, the business is also expanding at an extremely rapid rate. With a younger population making buying decisions and along with changes in tastes and food habits in small markets, the popularity of Cremica sauces, ketchups, spreads and salad dressings are gaining popularity in Tier 2 and Tier 3 markets at a rapid pace”.
Cremica has clients like McDonald’s, KFC, Subway, Dominos, Haldiram’s, Bikaner’s, Pizza, Pizza Hut, PVR, and Faasos, among many others.