Dr. Oetker, India’s fastest growing mayo, spreads and condiments manufacturer, revealed its emergence as the market leader in the peanut butter category. The growing popularity of FunFoods Peanut Butter in India is a result of delivering consumer expectations in terms of taste, quality, and convenience. The company’s nut butter spreads have been growing at a CAGR of 41% over the last 5 years. This is the result of several strategic and tactical initiatives that have propelled it ahead of its competitors.
The audited turnover of Dr. Oetker India Pvt Ltd in FY 2020/21 was INR 356.72 crores, an increase of 25.8% vs the previous fiscal year. The sale of Peanut/Choco Spreads amounted to INR 81 crores.
Commenting on the announcement, Oliver Mirza, Managing Director & CEO Dr. Oetker SAARC stated, “Dr. Oetker with its tagline Taste a European Legacy since 1891, is passionate about introducing products that cater to the changing habits and preferences of the Indian people. We have been brand leaders in mayonnaise for many years and now we have leapfrogged into the #1 position in peanut butter. Despite the emergence of several newcomers in mayonnaise and peanut butter, we dominate both categories and in the coming years, we will continue to build innovative offerings that meet the taste palate needs of people yet are aspirational in nature. This will enable us to enhance our pan India presence and find our way into the household of every Indian who has an affinity towards international food.’’
‘’In addition to ensuring that we maintain a consistent EDLP value for money strategy, our team has introduced multiple SKUs to address different consumer needs. Our sales propensity in nut butter spreads has been on a growth spree for the last 5 years, with a CAGR of 41% and we expect the figures to continue soaring with introduction of innovative products, SKUs and packaging formats to suit consumer needs and tastes. We have educated consumers on peanut butter usage with globally trending dishes which have all contributed to our success. Our current offering is based on products with 91% roasted peanuts and high nutritive value. Going forward we will continue to reinforce our leadership legacy in building the category with offerings that are consumer-centric and true to our heritage,” adds Nrusimha Panda, Vice President Sales.
The affordability of Peanut Butter for all socioeconomic classes, its health benefits and an unmatched taste have all contributed to growing sales and becoming the #1.
The family is the primary target audience. Bodybuilders, gym-goers and fitness enthusiasts comprise another target group that has been re-emerging after lockdown measures have been lifted and gyms have returned to normal operating hours. To cater to this segment, Dr. Oetker announced the launch of several new products.
- High protein Peanut Butters with a protein content of at least 37%
- All-Natural Peanut Butter with better consistency due to a unique stone milling process
- All-Natural Peanut Butter sweetened with Organic Honey