ADF Foods eyes home market, to introduce pickles, curries
The company currently manufactures ethnic Indian foods like pickles, chutneys, canned foods, spices, and even frozen foods like parathas and IQF (individually quick frozen) vegetables.
However, the company currently exports these products to over 40 countries in North America, Europe, Australia, Middle East, Africa and Asia, said Bimal Thakkar, managing director at ADF Foods.
“Exports contribute around 95 per cent of our revenues, but with India emerging as a leading food producer, we want to focus on the domestic market,” said Thakkar.
According to Thakkar, the company has entered the Indian market with ready-to-eat curries and pickles under the brand name ‘Soul,’ amongst which the company has also the first pickles made in olive oil.
“We are currently investing heavily in marketing and branding these products and expect to have an all-India presence in the next three years via distributors and large retail supermarkets,” said Thakkar.
Studies suggest that ADF’s decision to enter deeper into the Indian market is a wise one. According to a report ‘Food Processing and Agri Business’ by global consulting and research firm KPMG, India’s food industry is currently valued at US$180bn of which the food processing industry is estimated at US$67bn.
The report further predicted that value addition of food products is expected to increase from the current 8 per cent to 35 per cent by the end of 2025.
“We are eyeing 40 per cent of revenues coming from the Indian market and the balance 60 per cent from the international market in the next five years,” added Thakkar.
ADF’s current international brands include Ashoka, Camel, Aeroplane, Khansaama and Truly Indian that are sold abroad via a network of 175 distributors.
Last year, ADF Foods further strengthened its international market presence by the acquisition of US-based Elena’s Food Specialties Inc. and its well known brands PJ’S Organics and Nate’s.
