- FMCG: Top food product companies look abroad after expansion in India
- More than 1200 organized-unorganized. Factories operating in Gujarat
- Gujarati companies will start 10-15 stores-factories in 3-4 countries
- Bakery Industries also achieved a growth of more than 20 per cent in the epidemic
The food and beverage sector was hit hard by the Corona epidemic, but the bakery industry has grown at an average of 15-20 per cent. As the demand for bakery products in the domestic as well as overseas market continues to grow, the bakery industries of Gujarat and the food segment are looking to start trading abroad. Gujarat’s top bakery industries have started in New Jersey, USA after gaining online presence in 13 countries. Not only bakery industries but also other leading food product companies have come forward to do business in US, Canada and European countries.
Sales of essential products were allowed in lockdowns during the Corona period, which led to positive growth rather than de-growth in the sector. Industries has achieved an average growth of 15-20 per cent year-on-year, which is expected to grow by more than 25 per cent next year. There are more than 1200 organized and unorganized factories in Gujarat. Not only this, bakery products are being exported from Gujarat to 10-12 countries. The sector is providing employment to more than one million people and 60 per cent of the contribution to the sector has been made by women.
Now the trend of packaged cakes, home made cakes is increasing in every small and big occasions. At the same time, 20 per cent housewives in Gujarat have adopted bakery products like homemade cakes, chocolates, cookies, biscuits as a source of income and as an alternative to side income as the economic situation deteriorates in the Corona crisis. Big FMCG companies like Cadbury, ITC, Sunfist are also entering the packaged segment.
Gujarat’s market of over 5000 crore
bakery products Gujarat has been at the top position in the production and consumption of bakery products in the country. Gujarat’s bakery industries market is worth Rs 5,000 crore which is estimated to increase to over Rs 7,500 crore in the next two years. The bakery industry in India is dependent on the changing lifestyles of the people. The bakery industry is expected to reach 88,000 crore by 2024. The industry will grow at an annual rate of 9.3 per cent during 2021-24. While Gujarat companies will achieve more than 25% growth.
Gujarat’s bakery products are in great demand abroad due to export demand, which has led us to take the initiative to open stores in New Jersey, USA. The next outlets will be in Berzinia, Texas, California. The target is to start more than 100 outlets in the USA by 2026. In addition, our online presence in more than 13 countries will be strengthened. – Atul Vekaria, Chairman – Atul Bakery