India’s demand for frozen food has increased dramatically. Between 2021 and 2025, it is expected to grow at a compound annual growth rate of 18.17 per cent, reaching INR 224.90 billion.
Tell us about the story behind the brand’s inception. What makes you take charge of Cocoberry?
Frozen yoghurts are loving the Indian market like never before. This trend has grown in leaps and bounds, and health-conscious Indians with a sweet tooth are moving forward to the frozen desert over the not-so-healthy traditional desserts. A new concept to the Indian market, frozen yoghurt stores have huge potential to soar as more and more of the population wants to have a guilt-free dessert without compromising on taste. And through all these years, Cocoberry has fostered its flavour and quality to the nth degree. A sea of opportunity was in front of my eyes, and I was ready to dive in. Why have a scoop when you can have the whole pie? And the rest is history!
With the brand, my adventure in an individual place was pretty enjoyable and humorous. I was a franchisee, but I had earned a lot of trust, and at the age of 18, I established my own outlet, which was a huge success. Then I launched my second outlet in Gurgaon’s Galleria market, on very expensive real estate, and it worked really well. I eventually took over the company, and that’s how it all began. One thing I’d like to mention is the brand’s trustworthiness and stability.
Today, my journey as the CEO of Cocoberry has been sailing smoothly.
What is the current demand for frozen yoghurt products in the Indian market?
In the current scenario, the frozen food industry is booming, and it will boom in the near future. In the last 5–10 years, there has been a revolution in the frozen food market. India is viewed as a large prospective market for frozen goods. Until recently, the usual product choices of Indian frozen food were confined to smileys, green peas, sausages, nuggets, and French fries. However, in just 5–10 years, the frozen food business has undergone a transformation. There has been a considerable increase in the number of millennial and generation Z customers selecting frozen food for greater awareness, convenience, and acceptability in semi-urban and metropolitan areas. Ready-to-eat frozen foods are mostly used in dessert products, such as frozen yoghurt, which is fueling the industry’s expansion.
As a low-fat, or even no-fat, alternative to ice creams and drinks, the organised yoghurt business is expected to increase from its present size of Rs 750 crore to a Rs 1,200 crore market.
India’s demand for frozen food has increased dramatically. Between 2021 and 2025, it is expected to grow at a compound annual growth rate of 18.17 per cent, reaching INR 224.90 billion.
How has been the year 2021 for Cocoberry, were the brand able to achieve your targeted goals?
The brand, in terms of sales figures, was not able to achieve the target goals because of the pandemic, but on the other hand, the brand did immense expansion in terms of opening outlets and research on cutting costs.
Share some details about your expansion plans. Are you planning to expand your footprints in east India? If so, when can we expect your presence?
The continuous love from our customers, who have stayed loyal to the brand and its tasteful offerings even during the pandemic, has encouraged us to take the brand to the next level with an immediate expansion by the end of 2021. The frozen yoghurt brand further aims to have 200 outlets, mostly company-owned, within the next few years.
There are 10 outlets that are already in line and will be opened soon, covering Srinagar, Dimapur, Nagaland, Kolkata, and Faridabad. The media presence is in north India (Delhi NCR) and we are expanding in east India (Dimapur, Kolkata, and Kohima) as well as central India (Mumbai and Pune).
How many outlets does Cocoberry have across the country?
Presently, we have 22 outlets in high-street localities across Delhi, Mumbai, Gurugram, and more.
The company was first founded in 2011 for around $5 million USD by angel investors from New York. Why has the brand not raised any funds after that, and do you have any fund-raising plans?
Yes, the company was first founded in 2011 and raised $5 million dollars from angel investors, and the brand further did not raise any investment because it was not needed. The company was self-funded after I took over and has been successful thus far. In the future, we will have a raised plan once we achieve a set number of outlets, which we are working towards.
Over the years, how much growth has the company witnessed so far? What are your strategies to tap the market in 2022?
The first strategy is our expansion and the new outlets that we are opening. We are opening this winter so that we can get results in the summer. Second, because our brand has branches all over India, we use influencer marketing to introduce new flavours in specific areas.
Tell us about your variety of offerings and which flavour is the best seller for Cocoberry?
We are the only brand serving sugar-free frozen yoghurt. Speaking about its health benefits, our product has one calorie per gram. It contains one-third the calories of ice cream, and an 80g regular cup of plain yoghurt is just 80 calories, whereas ice cream is three times that. Speaking about the nutritional content, it is a nutrient-dense diet because it contains a variety of nutrients in considerable proportions in relation to its calories and fat content.
Cocoberry has over 35 different toppings to choose from. Berries such as blueberry, blackberry, cranberry, raspberry, and strawberry are among them. Fresh seasonal fruits are also available, as well as dry toppings, including chocolate alternatives. Oh! Dry fruits such as almonds, cashews, and prunes are also available. There are more, such as butterscotch toppings and nutritious toppings such as corn flakes and muesli. We make every effort to provide diversity in everything we provide our consumers, as well as to keep up with new and current business trends.
Are there any new products in the pipeline for Cocoberry, and are you planning to expand your offerings?
The new products are in line with the FMCG sector. The c are right now in stealth mode and will be launched in Q3 2022. And very soon we’ll be announcing it.
What are some of the most popular trends in the frozen yoghurt industry?
The industry is rapidly moving toward innovation. The next big thing is going to be technology advancements, which will play an increasingly essential role in the industry. When it comes to customer convenience, companies have begun to draw connections, and the race to dominate online grocery shopping is on.
According to one of the main industry trends, frozen yoghurt flavours such as savoury, caramel, chocolate, and fruity are in great demand. Plain and unflavored natural yoghurt, on the other hand, is in high demand in India. The increased demand for natural label claims continues to drive the industry.
Source: Business World
