Dr. Oetker targets to cross the Rs. 500 crores turnover mark in this calendar year. According to Oliver Mirza, managing director and CEO of Dr Oetker SAARC, Dr Oetker grew by 28 percent over 2020 in the calendar year 2021, recorded a turnover of Rs 425 crore, and has doubled sales every four years. So that means, statistically, in four years it’s going to be Rs 850 crore and in five or six years it’s going to hit 1000.
Dr. Oetker, which is a popular name in tier 1 markets, is also witnessing strong growth in tier 2 and 3, shared Nrusimha Panda, vice president of sales at the company. He said that due to increased awareness over the last 5 years, tier 2 and tier 3 markets have grown faster than tier 1 and presently account for a third of the business for the brand.
The company, which is present in more than 50 countries, entered India in 2008. In India, the brand is known for its offerings such as mayonnaise, spreads, and peanut butter through FunFoods by Dr. Oetker. The company on Tuesday announced that it had become a market leader in the peanut butter category, with about a 30 per cent market share.
“We have been brand leaders in mayonnaise for many years, and now we have leapfrogged into the #1 position in peanut butter. Despite the emergence of several newcomers in mayonnaise and peanut butter, we dominate both categories and, in the coming years, we will continue to build innovative offerings that meet the taste palate needs of people yet are aspirational in nature, “said Mirza.
Dr Oetker’s nut butter spreads have been growing at a CAGR of 41 percent over the last five years, the company claimed. In FY2021, the sale of peanut and chocolate spreads amounted to Rs 81 crore.
“Our sales propensity in nut butter spreads has been on a growth spree for the last 5 years, with a CAGR of 41%, and we expect the figures to continue soaring with the introduction of innovative products, SKUs and packaging formats to suit consumer needs and tastes,” Panda said in an official statement.
To expand the peanut butter category, the company will focus on targeting audiences such as gym-goers and fitness enthusiasts. The brand recently launched new products to cater to this audience. Additionally, over the next few months, Dr. Oetker plans to renovate its Italian sauce category, Panda shared. The company will be focusing on developing relevant products for consumers, such as preservative-free sauces, he added.