India-based ice cream and processed food manufacturer Vadilal Industries is planning to double its processed food revenues to over INR1bn ($18.4m) by 2015.
The company noted that this decision comes in response to the growing demand for its products in the domestic and international markets. In order to boost the revenues, the company plans to grow the business in India and globally through its 'Quick Treat' brand, which will feature a new packaging.
Vadilal Industries managing director Rajesh Gandhi said the company has seen a surge in demand for its ready to eat (RTE) frozen foods across all major cities in the country.
"Vadilal is tapping this fast growing market with a wide variety of products and through optimal utilisation of modern retail," Gandhi said.
The company expects its frozen foods sales in the domestic market to increase by 30% annually over the next few years, and plans to focus on higher margin value-added products, Gandhi added.
Having established a strong footprint in Gujarat, Mumbai, Rajasthan and Uttar Pradesh regions, the company plans to expand in the National Capital Region (NCR) and then tap all the major cities in the south, north and east.
Vadilal will focus on North America, Middle East, UK, South Africa and Australia for exports.