The brand has introduced Smart Sip Tender Coconut and iD Grated Coconut in a Coconut, in innovative eco-friendly packaging that heralds its exciting journey to a plastic-free future. The company aims to clock INR 100 crore in the next 3 years from its coconut business.
Bengaluru, Karnataka, India: Business Wire India: iD Fresh Food has welcomed the brand new decade with a bang! The exciting year started with the launch of iD Smart Sip Tender Coconut and iD Grated Coconut in a Coconut, marking India’s largest fresh food brand's maiden effort in finding sustainable packaging solutions for a greener and healthier tomorrow.
For 2020, iD Fresh Food’s New Year Resolution is loud and clear - get closer to nature, reduce your carbon footprint. And what better products than tender coconut and grated coconut – that too in their natural packaging – to drive home the message!
With #KnowYourCoconut as its core message, iD Fresh’s Smart Sip Tender Coconut empowers customers with valuable information without opening the coconut, which was hitherto unavailable to them. It assures 95 percent accuracy in predicting the water content, pulp, sweetness and total edible quantity, offering consumers a choice to purchase basis their need. The Tender coconuts are priced based on the edible content and sweetness level.
With its Grated Coconut offering, iD Fresh offers consumers not just convenience, but also a healthier alternative to chemically preserved frozen or desiccated coconut that is currently available in the market. iD’s grated coconut is a healthier alternative to the chemically preserved frozen or desiccated coconut that is currently available in the market.
Commenting on the company’s latest innovation, Musthafa PC, CEO and co-founder of iD Fresh Food, said, “Our 2020 vision is to go green. As a consumer-centric company committed to preserving the tradition of Indian cooking with healthy and fresh ingredients, we are constantly looking for ways to reduce the use of plastic in our product packaging. With the Smart Sip Tender Coconut and Grated Coconut in a Coconut, we have taken baby steps towards a gradual reduction of our plastic waste. Last year, when we launched iD Fresh Organic, we had made the commitment to our consumers to try our best to find more environment-friendly and sustainable solutions. I truly hope that we are able to find better solutions for everyday plastic use so that we can leave behind a better world for the future generations."
The tender coconut market, a predominantly unorganised market, in India is valued at around INR 4000 crore growing at a compound annual growth rate (CAGR) of 10 percent, while the grated coconut market is worth INR 150 crore, growing at 30 percent CAGR. By 2022, iD Fresh aims to capture 60-70 percent of the organised packaged coconuts market share.
Over the next three months, iD Smart Sip Tender Coconut and iD Grated Coconut in a Coconut will be available at retail outlets as well as at iD Kiosks where consumers can experience the taste, freshness and quality of the products before making the purchase. In the next phase of the launch, iD will be empowering the street hawkers selling tender coconut by helping them set up a hygienic cart with a cooler, giving fair price margins and even collecting the waste from them at the end of the day.
Elaborating on the growth strategy, Musthafa, added, “There is a huge opportunity when it comes to the coconut industry in India. With increased awareness on health and rising consumer preferences towards natural and healthy food and beverages, we believe iD’s Coconut will disrupt the market and further propel demand for the segment in India. The plan is to introduce the products first in Bengaluru, followed by other key markets including Kerala, Tamil Nadu and Andhra Pradesh, among others. We’re expecting revenue of INR 100 crore from both the coconut products in the next three years."
“Since iD Fresh’s inception in 2005, the company has consistently offered customers easy-to-cook, preservative-free and traditional Indian foods, powered by technology and packaging innovation. Both our new products carry forward iD Fresh’s vision. Our grated coconut offers customers a healthier and eco-friendly alternative to frozen grated coconut and frozen desiccated grated coconut options that are laden with preservatives to increase their shelf life. Similarly, our tender coconut promises not just health benefits, but also greater transparency in terms of product volume, sweetness and the like. We believe that these unique products will have a strong consumer resonance as we are providing them with a valuable offering vis-à-vis quality, convenience and natural packaging", added Pavan Kumar, Chief Business Officer, iD Fresh Food.
iD Fresh is known to be a trailblazer in the fresh food segment offering consumers smart and convenient ways to experience traditional Indian foods. Funded by Premji Invest, Azim Premji’s investment arm, and Helion Venture Partners, iD Fresh’s noteworthy achievements include revolutionising the idly-dosa batter space with its award-winning packaging and preservative-free products; bringing together the complex art of traditional vada making and the simple science of modern technology with its patented, squeeze-and-fry packaging design for the vada batter (that was presented at Harvard Business School); and most recently, reviving the arduous traditional filter coffee making with its unique South Indian filter coffee that comes in the form of ready-to-use liquid (decoction).
Started in 2005, as a little establishment in the bustling streets of Bangalore, iD Fresh Food has come a long way and set several milestones along the way. Today, the company is funded by Premji Invest and Helion Venture Partners, and has a presence in 45 + cities across India, US and UAE, with a team of more than 1500+ employees. The company provides 55,000 kgs of Idly/Dosa batter per day, with other yummy products like Parotas, Vada batter, Chapati and paneer among others to more than 30,000 retail outlets.
iD Fresh, took the organic leap and is transitioning its entire product line and operations to organic. The company has been awarded certifications from the Agricultural and Processed Food Products Export Development Authority (APEDA), National Programme for Organic Production (NPOP), United States Department of Agriculture (USDA) and Jaivik Bharat, under the Food Safety and Standards Authority of India (FSSAI).
The company takes pride in its home-made style of preparation in ultra-hygienic factories with best-in-class food manufacturing and processing systems and state-of-the-art equipment to provide completely natural and preservative-free ready-to-cook food.