Spice Company Finds Its Fortune
Spice processing is one of the most profitable businesses in India. Spices are the flavor and taste enhancers of the processed foods. In addition to that, they are also used in medicine for their carminative stimulating and digestive properties. India produces almost all the known spices. India is the largest exporter of this commodity. With changes in food habits and increase of income level the use of powdered spices and spice pastes has increased. Of late, the market for ready-to-mix of spices has grown significantly.
A leading FMCG corporate firm had the idea of venturing into the Food-processing sector. Being new to the Food-business, they had no idea on what concept to go with. They wanted to diversify their investment on processed foods to add their portfolio in one more domain. As everybody is aware Value added products from spice as Masala is getting into saturation, we recommended the client to invest on different which Is the upgraded version of masala very convenience to use also, tasty and healthy too
- Ideation to Product development
- Unaware of market demand
Spice pastes are fast moving consumable items and have a large potential. The key to success is to anticipate the future and plan accordingly. Food buddies, being a master in that, forecasted the significant rise in spice processing, suggested the concept of Spice paste, which has a huge demand in India and overseas. Right from Concept to commercialization Food buddies have hand holded Food entrepreneur in each stages to increase the conviction of his venture into Agro-processing sector.
With innovations in packaging, strength in quality and branding, Food buddies assisted in every possible way to compete with the domestic counterparts. The creative way of developing formulation simplified the operations and reduced the operation cost by 22%.
Home-makers have started demanding readymade spice pastes and this has augmented industry revenues. “Spice paste” is highly specialized and this ethnic product has a niche market all over India. Food buddies has helped companies to garner market share