We believe iD’s Coconut will disrupt the market & propel demand in India: PC Musthafa
Musthafa, CEO - iD Fresh Food speaks about their unique product innovations meant to drive sustainability & consumer convenience
iD Fresh Food, one of the major players in the fresh food segment has forayed into coconut business with the launch of iD Smart Sip Tender Coconut and iD Grated Coconut in a Coconut. The launch marks the brand’s maiden effort in finding sustainable packaging solutions. Last year the brand entered the organic food market.
The fresh grated coconut comes in plastic-free packaging - in its natural coconut shell. The Smart Sip Tender Coconut comes in a unique plastic-free packaging - the natural coconut shell, with the outer husk removed to reduce the product weight.
With increased awareness of health and rising consumer preferences towards natural and healthy food and beverage, PC Musthafa, Co-Founder and CEO, iD Fresh sees a huge opportunity when it comes to the coconut industry in India.
“We believe iD’s Coconut will disrupt the market and further propel the 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 a revenue of Rs 100 crore from both the coconut products in the next three years,” said Musthafa.
Commenting on the brand’s latest innovation, he said, “This is one of the biggest innovations from iD, not just in terms of the technology involved but because of the ways in which we thought of solving problems. We are using coconut shell to preserve coconut. I believe this could open new opportunities for sustainable and environmentally friendly solutions. We haven’t patented the packaging solutions. “
He continued, “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.”
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 per cent, while the grated coconut market is worth INR 150 crore, growing at 30 per cent CAGR.
“By 2022, iD Fresh aims to capture 60-70 per cent of the organised packaged coconuts market share,” says Musthafa.
Commenting on the products Musthafa said, “With #KnowYourCoconut as its core message, iD Fresh’s Smart Sip Tender Coconut empowers customers with valuable information without opening the coconut that was hitherto unavailable to them. It assures 95 per cent 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.”
Speaking on the product availability Musthafa said, “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.”
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