Modern Foods plans to collaborate with existing local facilities that are operating underutilised all over the country, to enable the volume growth, said Aseem Soni, Chief Executive Officer, Modern Food Enterprises. Modern plans to emerge as the top national brand in the fresh bakery segment in the next three to four years.

Aseem Soni, Chief Executive Officer, Modern Food Enterprises

Soni revealed that it has also plans for acquiring brands. “Modern is open to the possibility of evaluating the acquisition of brands that have earned consumers’ trust over a period of time and that meet the high quality, hygiene, safety, and governance standards of Modern,” he told Express. Modern intends to reach the size of Rs 1,000 crore by growing around fourfold over the next five years. We have planned this growth meticulously across geographies, sub-categories (including focusing on healthier bread options), and time periods. The bread market in India is valued over Rs 6,000 crore, and is growing at over three per cent per annum.

Consumers are looking beyond their traditional cuisines and are adopting food choices that are more healthy and convenient.