Dr. Oetker, the Euro 7-billion German conglomerate, is looking at Rs 500crore revenue from its Indian business in the next two years. The MNC which has global presence in food, beer, sparkling wine, banking, entered India in 2008 with spreads and pleasure foods. Currently, the India business of the company is at Rs 300 crore. It is present in peanut butter, continental sauces and other spreads.
Oliver Mirza, managing director & CEO of the company, said that mayonnaise is the biggest and top-growing segment for Oetaker and contributes over 50% of its revenue in India. Peanut butter has a share of 20%-25% followed by other products.
Mirza who was here to launch a variant of peanut butter pointed out that in 2008 when, the German MNC had entered India, mayonnaise was a Rs 8crore market compared to Rs 600 crore for Ketchup. “But, now mayonnaise has become Rs 300crore market while ketchup is now Rs 1,200 crore segment, so the growth of mayonnaise was much more,” added the Oetker MD.
He claimed that the company is the market leader in mayonnaise with over 60% marketshare, while in peanut butter, it has a marketshare of 20%. “These are two biggest categories in new age spreads,” he added. Incidentally Sundrop is another major player in the peanut butter segment.Commenting on Kolkata market, he added that Kolkata is its 8th largest market globally and could become 6th largest in future.