Snapshots of Food Industry News
PepsiCo to Set-up a Chips Unit in Uttar Pradesh
PepsiCo is going to set up a new (greenfield) potato chips production unit in Uttar Pradesh with an investment of Rs 814 crore. The unit will be set up on about 35 acres of land provided by the State Industrial Development Authority (UPSIDA) in Kosi-Mathura. Starting in 2021, more than 1,000 people will get direct and indirect employment from this chips’ factory. This is the first time that a greenfield project is being set up by PepsiCo itself in Uttar Pradesh.
The Food and Beverage brand is optimistic about the future of the Indian market despite pandemic-related disruptions and therefore it is investing in the new greenfield snacks plant in Uttar Pradesh to meet increasing demands. The brand is also increasing the capacity of its existing food plants in West Bengal and Maharashtra and it has additionally proposed to set up a greenfield manufacturing facility in Assam. PepsiCo India has emerged as one of the largest food and beverage companies in the country in 30 years of its establishment in India and is looking to double its revenues in the coming years.
Domino’s India Introduces Plant-based Meats
Domino’s India has launched the ‘Unthinkable Pizza’ which is topped with a 100 per cent plant-based protein mince. The plant-based meat will deliver the taste of chicken without impacting the environment or public health. While providing the sensory experience of meat these products are made from plant or crop ingredients like pea protein, coconut oil, and beetroot juice. At present the pizza is being launched only as a pilot in Mumbai, Delhi NCR, and Bengaluru so as to test the market.
The demand for plant-based meats has increased in the last few years as they save land and water and also reduce the impact of greenhouse gas from meat production. Consumer research from the Good Food Institute India reveals that the category could find broad acceptance with consumers in India. The sector is definitely picking up now and several entrepreneurs are working on providing plant-based meats, including Bollywood celebrities Riteish and Genelia Deshmukh that have a venture called ‘Imagine Meats’.
Cargill Plans to Enter Chocolate Segment in India
Despite the presence of global majors in the chocolate segment, food ingredient supplier Cargill plans to enter India’s high growth chocolate segment. Consumer preference for chocolates in India has increased as there is a shift from traditional sweets, while the year-round consumption of ice cream, baked goods and premium products has increased. Cargill’s proprietary research has shown that this segment has immense long-term potential and is estimated to grow at an average annual rate of 13-14 per cent per annum. This will make India, the world’s fastest growing chocolate market!
Keeping its potential for growth in mind, Cargill will set up their first chocolate plant in the country in western Maharashtra likely by 2021. Initially, the company plans to offer chocolate compounds, chips and paste to domestic players. The company is optimistic that the demand for chocolate products will remain healthy as there is an increase in demand for consumption and personal gifting around festivals like ‘Rakhi’,’ Diwali’ and rural markets are also actively driving a large part of sales.
Jubilant FoodWorks Launches Biryani Brand – Ekdum!
Jubilant FoodWorks Limited (JFL) has entered into a new food space of Biryanis with its newest brand – Ekdum! which will offer a wide variety of biryanis from across India. The chefs at Ekdum! have brought together a selection of twenty different biryanis curated from various parts of India. The biryanis use authentic ingredients that bring out the unique flavour and signature taste that is associated with a region. Besides biryanis like Nizami Biryani, Lucknowi Nawabi Biryani, Butter Chicken Biryani, etc. Ekdum! will also offer an extensive range of kebabs, curries, breads, desserts and beverages and raitas and chutneys that will complement the foods.
These biryanis and other delicacies will be served in a special Dum Seal packaging which is eco-friendly, tamper proof and microwave friendly that locks in the flavour and aromas keeping them fresh and safe. Ekdum! will start with three restaurants in Gurgaon for Delivery, Takeaway and Dine-In, with more restaurants planned to open in NCR over the next few months. Ekdum! will be affordably priced with biryani prices starting from Rs.99. In order to drive convenience and ease of ordering, Ekdum! offers an easy–to-use App, mobile website and desktop website.
Hatsun Agro Product Opens 3000th Daily Outlet
Hatsun Agro Product Ltd. (HAP), a leading private sector dairy company in India, has opened its 3000th HAP Daily outlet. HAP Daily is the retail concept of Hatsun Agro Product Ltd that is known for its range of high-quality milk products and ice-creams trusted by millions. In addition to the entire range of Arun ice-creams, HAP Daily outlets will selectively retail other products such as Arokya milk, Hatsun – curd, paneer, milk beverage, yoghurt shakes, ghee, butter, skimmed milk powder and dairy whitener in various markets. All the HAP Daily outlets are operated by well-trained independent franchisees. The retail outlets offer tremendous growth opportunities for the franchisees.
The retail outlet expansion is in line with Hatsun’s growth strategy and its vision of making high-quality dairy products available to the masses. Hatsun is looking for retail expansion in Maharashtra where it will augment production once the new plant at Solapur is commissioned. Besides Maharashtra HAP plans to open more HAP Daily outlets in Kerala, Orissa and Chhattisgarh and deepen its presence in its strong markets in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Puducherry and Goa.
Mrs Bectors Food Announces IPO
Mrs. Bectors Food Specialities’ Rs 541 crore initial public offer (IPO) opened in December with a price band for the same set at Rs 286-288 per share. The IPO comprises sale of shares worth Rs 500 crore by Linus Pvt Ltd, Mabel Pvt Ltd, GW Crown Pte Ltd and GW confectionary Pte Ltd., and fresh issue worth Rs 40.5 crore. Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares.
Earlier in 2018, the company had filed draft papers with Sebi seeking to raise Rs 800 crore through IPO and had obtained the regulator’s approval to float the public issue. However, the company could not launch the initial share-sale due to adverse market conditions at that time. Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns under the flagship brand “Mrs Bector’s Cremica” and the “English Oven”. The premium biscuit and bun maker is a leading supplier of buns to fast-food chains, such as Burger King and McDonald’s.