FMCG major Britannia Industries has planned to introduce 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to dominate the food market on the whole, said a top company official.
Britannia will launch dairy products and croissants by October-November through its joint venture with Greek cakes and confectionery major Chipita by the March 2020.
Besides, the company has decided to continue with the addition of new countries in its market list and scout for new markets in Africa, while foraying into Bangladesh and Myanmar.
Britannia Industries Managing Director Varun Berry said, "Almost 50 new products would be there by the end of next financial year."
The Kolkata-headquartered company is looking to bring diversity in bakery and non-bakery segments and also focus on snack items.
He said, "We are also looking into other areas as bakery and outside bakery, the macro-snacking category, which could be potential areas for us to grow.”
Besides, Britannia may also launch new sub-brands in the market for some categories, although it will primarily rely on its existing ones.
The group will continue with its existing sub-brands to make sure that it is not completely entering the unknown territories, Berry said, adding that however, in some categories, the company will look for a new one where there is no suitable brand.
The company is in the engagement of putting up a manufacturing line with its JV partner Chipita for croissants, which is expected to come up by the third quarter of the coming fiscal.
Berry on explaining the plans on dairy sector said, "We are pretty clear that we would go into it and the value added product segments. The company is also in the process of setting up a Rs 1,000-crore plant at Ranjangaon, Pune which would be an integrated food park, he said, adding two plants in Guwahati and export-oriented unit at Mundra SEZ would be commercialised early next year.
He said, “Britannia's Nepal plant would start in the fourth quarter of the next fiscal as it is awaiting environmental clearance there.”
On being asked about the next destination, Berry said "We have still not identified the next destination but we are looking at a bunch of countries in Africa, and countries like Myanmar and Bangladesh. We would identify one of those and move forward in FY 2019-20. Our target is to add new country every year and that is going well.”
In the Middle East, Britannia has set up manufacturing units in Dubai and Oman to cater the markets.