iD Fresh Food eyes packaged spices segment

iD Fresh Food, known for its products such as idli and dosa batter among others, is eyeing the packaged spices segment. The company said it will leverage on its strong distribution system to deliver fresh products to foray in the spices segment. The company aims to make spices a ₹100-crore business in the next 3-4 years.

PC Musthafa, Global CEO and Co-Founder, iD Fresh Food, told businessline, “Over the years, we have established our own direct retail distribution network to deliver fresh products and built a trusted brand. We want to leverage on these strengths to launch more products and grow our business further. In line with this strategy, we have been working for almost a year for our foray in the spices segments.”

“We see an opportunity to disrupt the spices market. When spice products are made at home, typically they are made for a month and are not stored for longer period for better quality. So following a similar philosophy, our aim will be to offer fresh spice products to consumers rather than use preservatives or chemicals to extend the product’s shelf life. We are planning our supply chain for faster replenishment cycle. So the the product reaches the stores the next day after being manufactured and gets sold within two weeks. So we plan to supply these spice products on an everyday-basis,“ he explained.

The company said that sourcing and manufacturing will be done in line with the integrated pest management guidelines and will use processes such as steam sterilisation to ensure they are chemical-free.

Musthafa said in the first phase, the company will focus on launching the fresh spice powders by June. In later phases, it will look at foraying into wet masalas and curry pastes and ready-to-cook gravies. “ Initially we will launch in the top metros. We believe that the spices segment will be atleast a ₹100-crore opportunity for us in the next four years,” he added.

Talking about overall revenue growth, he said the company is looking to cross the ₹700-crore mark in FY25 aiming to garner 25-30 per cent growth. He added that the company has seen nearly 100 x growth in the quick commerce channel in the last two years.

The company is backed by investors such as Premji Invest, Helios Venture Partners and NewQuest Capital, among others.

COMMENT NOW