Godrej Appliances, business unit of Godrej & Boyce, the flagship company of the Godrej Group, has recorded over 100% volume growth for Deep Freezers this summer season in comparison to pre-pandemic summer of 2019 – as reported in a leading daily.

Read: June 2022 Issue of Food InfoTech Magazine.

This growth was led by rising temperatures in the summer season that brought about an incremental demand and consumption of ice creams across India. Moreover, ready-to-cook and frozen foods are gaining popularity and acceptance among the working professionals and millennial generation, especially with a boom in the variety of frozen foods being offered to consumers today.

India’s commercial refrigeration market is sized at approx. 1 million units with 10% -12% CAGR in the last 5 years. This year, the industry grew by 15% over the previous year, and the expected CAGR over the next 5 years is also around 15%. Godrej Appliances is ready to cater to this increased demand and has witnessed robust growth across India.

Also Read: FroGo Launches E-Commerce Store Exclusively to Deliver Frozen Food.

Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce said, “We witnessed high growth this year for Deep Freezer category which accounts for around 5% of our overall business. We are currently at 10% market share for this product category. In next two years, we plan to invest over Rs 25 crores towards adding new models and expanding production capacity. This will help us to grow our market share to 15% by FY 23—24, and achieve our goal of doubling market share to 20% in the next 5 years in Deep Freezers.”

Rajinder Koul, Product Group Head – Godrej Appliances said, “There was a pent-up demand this summer after the pandemic-induced lockdown in the last two summers. Consumers showcased more confidence to venture out of their homes. With hotels and restaurants doing well, consumers wanting to indulge in a variety of frozen foods and ice-cream, especially given the strong heat wave, Deep Freezers witnessed strong demand.”

Author

“Besides the ever-growing mound of unpublished travel stories and product reviews accumulating in various folders on my desktop, I've written quite a lot of copy and content for various niches, with specialization in both B2B and B2C segment.”

Write A Comment

three + eight =