Nuffoods Spectrum India

The frozen food market will see huge growth somewhere in double digits with more awareness: Shobit Pandit

19 August 2019 | Opinion

Mr. Foodie, a part of Savarni Foods Specialities is a marketer and manufacturer of frozen & chilled food products in pan India having a direct reach & coverage of all market segments.

1) What was the idea behind starting Mr. Foodie?

Mr.Foodie was started to bring convenience to consumers as well a choice of foods available in RTE, 

2) Can you throw some light on the current frozen food market in India? 

The frozen food market will see huge growth somewhere in double digits with more awareness, availability of different varieties and emergence of International payers in the modern trade. The changing demographics scenario is also adding demand to this segment if the government will support through funds availability and policy change it can grow further  

3) What are the major challenges that this sector is facing in terms of government policies, packaging, and distribution or any other factor (Do you think there is any gap anywhere when you dealing with this specific sector of the market?)

Frozen food segment's major hurdle are:

  • Current infrastructure which is in not in good shape, these products are supposed to travel in temperature control vehicles but limited refrigerated are available and are too costly, inturn increase prices of the product.
  • Knowledge is also a key issue as very few people know how to store and use these products.
  • The high rate of GST i.e currently 12% is the slab rate for frozen products or processed products. In reality, these companies reduce wastage and give good returns to farmers.
  • Cost of placing products in modern trade shelves who demand very high margins and listing fees for SME's.
  • Payments generally are realized in 60-75 days in the food service segment due to which money rotation is problematic.

4) What are the future plans of the company? (Any collaboration or product launch in the pipeline)

Savarni foods are looking to launch a new range frozen product including based on potato products and different varieties of pasta.

Also looking to collaborate with modern trade Companies like Amazon, Metro cash & carry, etc.

 

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