iD Fresh Food- The Ready-to-cook food company that dominates the market for idly and dosa batter in South India, is now entering the North Indian market, starting with Delhi and Kolkata, by early next year. The expansion is in line with the Premji-backed company’s goal to reach Rs 10 billion in revenues within the next five years.
For present the company will use its existing manufacturing units in Hyderabad and Mumbai to cater to the markets in North India as both these plants have a production capacity of 50,000 kg batter per day.
Besides Mumbai and Hyderabad, iD Fresh has production units in Bengaluru, Chennai, and Dubai which serves the UAE market. The Dubai plant will also start supplying to Oman and Saudi Arabia markets by the end of this financial year.
P C Musthafa, founder and CEO of iD Fresh Food stated that they were in talks to enter developed markets such as the US and UK and hoped that it would happen by end of FY20.
According to a Market Research Future report, the Indian ready-to-cook food market was at $233 million in 2013, and is projected to reach $755 million by the end of 2022, registering a compounded annual growth rate of 14 per cent.