Despite economic slowdown impacting the growth of the fast-moving consumer goods (FMCG) sector over the past few quarters, Punjab-based bread and biscuit maker Bonn Group is optimistic about the sector witnessing growth in coming months.
"From the last 3-4 quarters, the growth of Indian FMCG sector has seen a sluggish growth. Yet, all is not lost. We are looking for positive changes in future. We are also looking to capture a larger share in the market through our expansion plans…" said Amrinder Singh, director, Bonn Group.
Innovative marketing strategy can help the sector witness a growth.
"We are the only bread maker to have a line of preservative free products. We recently did a campaign -- 'Bonn Bread Khao, Har Minute Inaam Pao' to give a fresh appeal to the brand and retain existing customers and develop a new base," he added.
The bread industry is poised to reach Rs 53 billion in value by 2020, growing at a pace of over 10 per cent CAGR, said Singh, adding, "Currently, the company generates around 60 per cent of its revenue from selling breads, 30 per cent from biscuits and rest 10 per cent from rusks, cakes and cookies."