Indian ready-to-eat and frozen food brands launched during the pandemic
While the COVID-19 pandemic caused a lot of disruptions, it also provided a good business opportunity for lots of companies. One of which includes the sharp rise in demand for FMCG products, especially the ready-to-eat or frozen foods categories. According to a report by ResearchAndMarkets, the Indian ready-to-eat food market is projected to grow at a CAGR of more than 16 percent during 2018-2023 to reach $647 million by 2023. Additionally, the Indian frozen food market is expected to be growing at 17 percent annually in the period to 2024, according to another report by the Indian Council of Medical Research (ICMAR). Amid the nationwide lockdown, even startups like Licious, iD Fresh Foods, and Grofers, among others, reported an increase in the sales of ready-to-eat and frozen foods categories.
Against this backdrop, SMBStory has curated a list that recognised and leveraged this opportunity during the pandemic. Goa-based Wakao Foods, started by lawyer turned entrepreneur Sairaj Dhond in October 2020, is a brand that is tapping into the emerging superfood-jackfruit, and making it easier for Indians to make the switch to plant-based diets.
Siraj’s real estate came to a grinding halt when the COVID-19 pandemic hit India in March 2020.
Sairaj, not willing to sit back, was scouting for new opportunities when he came across an article on jackfruit. “This was a turning point for me as I realised that even though I had been consuming jackfruit since childhood, as a business opportunity in India, it had not been explored much.” Using his own savings, Sairaj launched Wakao Foods in October 2020, and sales started to come calling from December.
Currently, the brand offers jackfruit-based ready-to-eat products that are packaged and marketed imaginatively – Barbeque Jack, Burger Patty, Butter Jack and Teriyaki Jack.
Source – SMBStory