- Plans to accelerate business within the spices category with a projected compound annual growth rate (CAGR) of approx 30% over the next five years
- Aims to expand new product categories like herbs, gourmet gravies, cooking pastes, etc
- The packaged spices industry in India stood at approximately INR 34,000 crores in 2023, witnessing an 18% growth and 4% volume growth
NEW DELHI, 19th APRIL, 2024 (TGN): Catch Spices, a core brand of Dharampal Satyapal Group (DS Group), a multi-business corporation and a leading FMCG conglomerate, has marked a significant leap in the packaged spice industry by announcing its entry into the INR 1000 crore club. Having achieved an impressive year-on-year growth rate of 24 percent in the last two years, Catch Spices remains optimistic about its growth prospects. With a strategic vision, it aims to bolster its presence targeting a Compound Annual Growth Rate (CAGR) of approximately 30% over the upcoming five years.
Giving impetus to its aggressive expansion plans, through modern-format stores and e-commerce including quick commerce platforms, Catch Spices has diversified its vibrant portfolio by venturing into pastes, gourmet gravies, grinders, herbs, and pink rock salt, with several new product developments underway. Expanding reach and boosting growth will involve enhancing product offerings with a focus on digital-first products, and regionalization catering to local taste palates. Catch Spices is ambitiously strategizing to dominate the Indian kitchen space with differentiated products that bring purity, taste, and convenience as key drivers.
Speaking on the occasion, Mr. Rajiv Kumar, Vice Chairman, DS Group, said, “Our relentless pursuit of excellence and a consumer-centric approach enabled Catch Spices to achieve the significant milestone of being an INR 1000 crore brand. Today, Catch Spices has become synonymous with consistent quality and reliability. Our innate understanding of consumers’ diverse and evolving tastes has played a crucial role in refining our product offerings, and ensuring continued success.”
The Catch brand was introduced by DS Group in 1987 with the launch of a revolutionary table-top Salt sprinkler and the brand has since grown to encapsulate the very essence of cooking which ranges from straight spices to myriad blends and pastes and wholes; across nine categories with more than 125 variants and 300 SKUs. Today Catch products are available in more than 7 lakh retail touchpoints through more than 1500 distributors nationwide. Catch Salt and Spices reaches out to more than 2 crore households in India. With the changing consumer buying behavior, Catch Spices has thoroughly studied and capitalized on the evolving trends in modern trade, e-commerce including quick commerce to its advantage. Leveraging these platforms, the company has demonstrated exceptional growth, outperforming industry standards.
Catch Spices has always invested significantly in technology and research to acquire insights into consumer behavior and market trends. Despite challenges posed by regional competition and commodity rate fluctuations, the brand remains resilient and agile. As per the latest industry estimates, the packaged spices industry in India stood at approximately INR 34,000 crores in 2023 witnessing an 18% growth and a volume growth of 4% whereas Catch Spices outperformed this trend for the same period having grown by more than 23% while the volume growth was more than double that of the industry.
With prominent brand ambassadors such as Akshay Kumar, Bhumi Pednekar and Kirti Kharbanda, the brand has garnered widespread acclaim for its campaign “Kyunki khana sirf Khana nahi hota.” This positioning of “Khana Sirf Khana Nahi Hota” highlights the thought that food encompasses many emotions – memories, bonds, tradition, and values, bringing the brand closer to a consumer’s daily life – beyond merely functional to an emotional connection. Leveraging the trends in the market, Catch Spices has increased its focus on digital marketing to cater to its consumers. The brand has also forged successful partnerships and initiatives to enhance market penetration, including co-promotion initiatives with consumer brands and trade loyalty programs.
About DS Group:
The DS Group (Dharampal Satyapal Group) is a Multi-Business Corporation and one of the leading FMCG conglomerates with a strong Indian and International presence. Founded in the year 1929, it is an inspiring and successful business story that blends a remarkable history and legacy with visionary growth. It has an extensive and diverse portfolio with presence in Mouth Freshener, Food and Beverage, Confectionery, Hospitality, Agri, Luxury Retail businesses, and other investments. Rajnigandha, Catch, Pulse, FRU, Ksheer, Pass Pass, BABA, Tulsi, L’Opera, Le Marche, UnCafe, Birthright, Laderach, LuvIt, Chingles, The Manu Maharani, and Namah are some of the leading brands, the Group proudly shelters today.
As a corporate, DS Group is guided by a clear set of values that are built on a strong foundation of collective good to give back to society and protect the planet. The DS Headquarters has been awarded Leadership in Energy and Environmental Design (LEED) Platinum certification, under the USGBC (US Green Building Council) existing building O&M (Operation and Maintenance) program version 4.0. The DS Headquarters has also received LEED Zero Carbon Certification, by the USGBC. For more details, log onto www.dsgroup.com.
