The generation at this time is health conscious and interested to have the things ready to eat. Gits Foods, which claims to have pioneered the concept of instant mixes, launched a dozen products across the three categories in 2017 — desserts, breakfast and snacks.
Keeping in view the changing needs of consumers, primarily millennials, and the rising demand for 'healthy' breakfast and snacking options, the company recently launched wholesome breakfast mixes enriched with flax seeds, oats, ragi and brown rice.
"We are looking to launch more products in the desserts, breakfast and snacks segments aimed at the health-conscious," According to Sahil Gilani, Director, Sales and Marketing, Gits Foods is expecting a 20 percent growth in sales this fiscal backed by product launches and improved packaging.
The instant-mix and ready-to-eat food maker Gits Foods, which witnessed a drop in sales post demonetization in 2016 and the rollout of GST in 2017, expects a rebound in business this year.
"The growth rate had not been good in the past two years, firstly because of demonetization, and then the rollout of GST, which had led to destocking, affecting most FMCG companies, including ours. But now those are largely put to rest and we expect growth to pick up," Gilani informed.
The market for ready-to-cook and ready-to-eat food in India is estimated to be close to ₹1,000 crore and has been growing at 12-15 percent on a year-on-year basis, he said.
"We are looking to launch more products in the desserts, breakfast and snacks segments aimed at the health-conscious," Gilani said.
Gits sells its products through modern trade outlets as well as kirana stores apart from selling online on its own portal as well as through e-tailers such as Amazon and Flipkart.
The company is also in the process of doubling its production capacity. It already bought land adjacent to its existing facility at Hadapsar in Pune.
Gits Foods, which has been largely catering to the B2C (business to consumer) segment, is now looking to tap the B2B (business to business) market. The company recently set up a separate division to drive institutional sales.
"There are some restaurant chains which want a standardized taste and quality products. We have re-engineered our pack sizes to suit their needs. B2B sales are currently a small percentage of our total business but we expect it to grow to 10 percent in a couple of years," he said.
The company has also re-designed its products. For instance, it has come up with a combo meal pack comprising rice and dal to cater to train passengers. Gits has been supplying its ready-to-eat packs on some trains and is also in talks with the Railways to step up the service, said Gilani.