Business

Mondelez forays into cakes

Mondelez India with snacking brands such as Cadbury Dairy Milk, Cadbury Bournvita and Oreo has forayed into the cakes category with the introduction of Cadbury Chocobakes Choc Layered Cakes in India. The category is estimated to be worth ₹2,000 crore and growing at 18% CAGR. Without disclosing the targeted revenue, company officials said their objective was to grow faster than the market growth.

This is the company’s second product under the chocobakery sub-category. In January the company had unveiled Cadbury Chocobakes Choco-filled Cookies in the Indian market.

It is an India-specific product and the company took 15 months to develop this.

Company executives said it was a challenge to achieve this price point. This range is produced at a contract manufacturing unit in Madhya Pradesh.

Deepak Iyer, president, India, Mondelez International, said “We are expanding our portfolio into related categories by driving the taste of chocolate as a snack beyond the bar. We are well placed to expand into the bakery and cakes segment with layered cakes.”

Sudhanshu Nagpal, associate director, marketing (biscuits), Mondelez India, said “We are confident that Cadbury Chocobakes Choc Layered Cakes will help us further expand the category and open interesting avenues in the snacking space.”

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Printable version | Jul 8, 2020 5:31:24 AM | https://www.thehindu.com/business/mondelez-forays-into-cakes/article31957412.ece

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