Godrej Yummiez, Godrej Tyson Foods’ ready-to-cook brand, aims to become a Rs. 200 crore brands with more than 30 percent growth in FY2023.
Godrej Yummiez sells more than 50 vegetarian and non-vegetarian frozen products, including nuggets, burger patties, salami, sausages, kebabs, sweet corn, and green peas.
Abhay Parnerkar, CEO of Godrej Tyson Foods, said, “We are seeing high growth on the back of innovation and investment in capacity building that we did in 2018.” By the end of the year, we aim to achieve upwards of 30% growth and a brand value of Rs. 200 crores plus. He added that the frozen foods market, pegged at around Rs. 3,500 crores, witnessed significant expansion during the pandemic, driven by restrictions on eating out and increased adoption of e-commerce.
Parnerkar also explained that the size of the vegetarian frozen food segment is estimated to be about two-thirds of the total frozen food category. Godrej Yummiez has launched a new frozen snack, strengthening its vegetarian portfolio. This is the third launch this year by the company.
Godrej Yummiez commands a strong market share with its non-vegetarian range of products. Its focus is now on growing the vegetarian portfolio, which currently accounts for a significant part of our overall sales.
With Yummiez, there is a constant focus on product innovation, as there is in the food category where consumer choices and trends keep evolving. While the brand has a national footprint and presence across all key channels, currently the South and West contribute the most to the business, followed by the North and East regions.
The company is seeing good growth across tier-two and tier-three cities, especially with new product launches. Further e-commerce and B2B channels are also drivers of growth for the ready-to-cook brand, as highlighted by Parnerkar.