Cremica Foods eyes 40% sales rise in FY 23; cold condiments to see high growth on retail HORECA rebound

Cremica Foods eyes 40% sales rise in FY 23; cold condiments to see high growth on retail HORECA rebound
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Bengaluru, 18th October: Cremica Foods Ltd. a home-grown brand known for its premium quality liquid condiments is eyeing a 40% leap in terms of turnover in FY23. After the industry suffered a setback in the initial period of covid pandemic and subsequent lock downs, the company has seen a strong rebound in both retail and HORECA segments. With an ability to 350 Cr business generating 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.

Mr. Akshay Bector, Chairman & Managing Director, Cremica Foods Ltd. “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. The holiday season is currently the placement phase and after the holiday season, we expect the growth to continue. It will undoubtedly be far better than the previous years”.

“Cremica is a farm-to-table producer, and we directly work with farmers to procure their goods. What started as a small home-based business back in 1976, touches one-in-four Indians with its products every day. Cremica was the first to make vegetarian mayonnaise in India, and today, mayonnaise and ketchup products fetch equal profits for the company. 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”, added Mr. Bector.

Cremica is renowned for its innovative recipes, cutting-edge research, and high production standards, and is the largest seller of liquid condiments in the HORECA segment. It has clients like McDonald’s, KFC, Subway, Dominos, Haldiram’s, Bikaner’s, Pizza, Pizza Hut, PVR, and Faasos, among many others. Cremica’s creative marketing strategy, commitment to quality, and investment in premium manufacturing facilities have helped in establishing the brand as a leader in this segment.

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