Elite Foods, one of the largest food companies in South India, is eyeing a business turnover of ₹1,000 crore by 2020. The 600-crore company is all set to introduce new organic products such as sugar, spices and pulses shortly.
C.G. Prathibasmidan, Director, who was here to launch carrot pudding and cherry nut cakes ahead of the Christmas and New Year season, said the cake industry in India is growing at 10-15 per cent. The market size of the branded cake market in Kerala during the season was estimated at ₹50 crore and Elite cakes had a 50 per cent share in the organised branded segment.
The younger generation was shifting to packed consumer products, resulting in a growth in branded cakes, he added.
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