DS Group aims to bolster its presence targeting a compound annual growth rate (CAGR) of 30% over the upcoming five years
Catch Spices, a core brand of Dharampal Satyapal Group (DS Group), announced its entry into the Rs 1000 crore club. Having achieved a year-on-year growth rate of 24% in the last two years, Catch Spices remains optimistic about its growth prospects. With a vision, it aims to bolster its presence targeting a compound annual growth rate (CAGR) of 30% over the upcoming five years.
Giving impetus to its expansion plans, through modern-format stores and e-commerce including quick commerce platforms, Catch Spices has diversified its 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 regionalisation catering to local taste palates.
“Our relentless pursuit of excellence and a consumer-centric approach enabled Catch Spices to achieve the significant milestone of being an Rs 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,” Rajiv Kumar, vice chairman, DS Group, said.
Despite challenges posed by regional competition and commodity rate fluctuations, the brand remains resilient and agile. As per industry estimates, the packaged spices industry in India stood at approximately Rs 34,000 crores in 2023 witnessing an 18% growth and a volume growth of four percent 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 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 highlights the thought that food encompasses many emotions – memories, bonds, tradition, and values, bringing the brand closer to a consumer’s daily life – beyond 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.