FMCG major HUL is aspiring to be a market leader in the fast-growing ice creams and frozen desserts category in the next few years and it would continue to invest in infrastructure and physical expansion, a top company official said.
HUL expects a deeper penetration in the category in the coming year led by several factors such as creation of more cold chain capabilities, improvement in the availability of electricity in rural areas coupled with reasons as evolving food habits and rising discretionary incomes in tier I & II cities.
HUL, which had last month announced to acquire Karnataka-based ice cream brand Adityaa, would also continue to pursue such inorganic growth opportunities to expand its reach deep further, the official said.
"We are very bullish on this product category in India. We are targeting market leadership here in the next few years," HUL Executive Director, Foods & Refreshment Sudhir Sitapati told PTI.
"For this, we are willing to invest for growth; to see it continue to grow at high double-digit volumes for us in the coming years."
Disclaimer: No Business Standard Journalist was involved in creation of this content