Noida-based Dharampal Satyapal group (DS group)'s confectionery division is aiming to reach a sales turnover of Rs 230 crore in the next financial year from Rs 140 crore of expected revenues this year, by increasing the product offerings in the gum-based candies space besides powder beverages.
Though gums account for only Rs 1,300 crore of the Rs 9,000 crore confectionery market in India, it has been the fastest growing product space compared with the major segments of chocolate and non-gum non-chocolate candies, said Atanu Gangoly, category head-confectionery and powered beverages of DS group, here on Wednesday.
Besides focusing on South India, the company has also made changes in product format and flavours to grow in the market where all the top global confectionery players are present, according to him. The company's confectionery division had so far invested Rs 150 crore and it would be investing another Rs 150 crore in the next couple of years.