iD Fresh Food, renowned for its offerings like idli and dosa batter, is now venturing into the packaged spices segment. Leveraging its strong distribution system, the company aims to introduce fresh products into the spices market. With a vision set on growth, iD Fresh Food targets to establish a spices business worth INR 100 crore within the next 3-4 years.
PC Musthafa, the Global CEO and Co-Founder of iD Fresh Food, stated, “Throughout the years, we’ve cultivated our own direct retail distribution network to ensure the delivery of fresh products and to foster a trusted brand. We aim to capitalize on these strengths to introduce more products and expand our business even further. Consistent with this strategy, we’ve been diligently working for nearly a year to enter the spices segment.”
“We perceive an opportunity to revolutionize the spices market. Homemade spice products are usually prepared for a month’s use and aren’t stored for extended periods to maintain quality. Adhering to this philosophy, our goal is to provide consumers with fresh spice products, avoiding the use of preservatives or chemicals to prolong shelf life. We’re strategizing our supply chain for a rapid replenishment cycle, ensuring that products reach stores the day after manufacturing and are sold within two weeks. Thus, our plan entails supplying these spice products on a daily basis,” he elaborated.
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The company stated that it will adhere to integrated pest management guidelines for sourcing and manufacturing, employing processes like steam sterilization to guarantee chemical-free products.
Musthafa mentioned that in the initial phase, the company’s primary focus will be on introducing fresh spice powders by June. Subsequent phases will involve venturing into wet masalas, curry pastes, and ready-to-cook gravies. “Initially, our launch will target the top metros. We anticipate that the spices segment will present us with a minimum INR 100-crore opportunity within the next four years,” he further explained.
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Regarding overall revenue growth, he mentioned that the company aims to surpass the INR 700-crore milestone in FY25, targeting a growth rate of 25-30 percent. Additionally, he highlighted that the company has witnessed almost a hundredfold increase in the quick commerce channel over the past two years.
The company has garnered support from investors including Premji Invest, Helios Venture Partners, and NewQuest Capital, among others.
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