The food and beverage (F&B) market is estimated to be around R33,000 crore and health-segment is one-third of it making it around R11, 000 crore business. The frozen dessert market in India is $500 million out of which 50 million is frozen yogurt.
Rahul Kumar, CEO of Red Mango that holds the rights of franchise of Red Mango as a division on Maez One Retail seeks to establish the brand as a premium frozen yoghurt and smoothie major. Our company would make an investment of $4 million in 2012 and would be expanding in the NCR, Mumbai, Bangalore and Chandigarh by opening 12-15 new stores, said Kumar. Red Mango is a quick service restaurant that would deal in other healthy products such as waffle (fat-free cakes), yogurt contains probiotics, low calorie sandwiches and smoothie (health drink made of real fruits) and fresh fruit toppings which are rich in anti oxidants, said Kumar.
South Korean yogurt chain Yogurberry which is a recent entrant in the Indian market is planning to open over 100 outlets across the country in next five years. The South Korean firm will set up its operations in India through Dubai-based master franchisee Synergy Holdings. Pawan Batavia, partner, Synergy Holdings said, The company aims to open 105 outlets in India in next five years with an initial focus on metros and major Tier-I cities followed by Tier-II and Tier-III cities.
According to experts, health and wellness food market is growing at a rate of 35-37%. When asked about the growing competition in yogurt market, Coco-Berry CEO GS Bhalla said, Coco berry is an established brand with products starting from the price range of R32 and goes on till R266, which is quite competitive compared with other international players that are eyeing the market.
Yogurberry is priced between R65 and R250. Red Mangos Yogurt is priced at 89 paise per gram where consumers have a choice of selecting the toppings. Canadian chain Kiwi Kiss had also entered the Indian market in 2010 with outlets in Chennai and Bangalore. Apart from this US-based Smoothie factory are also said to be in talks with local players for entering the Indian yogurt market.