iD Fresh Food, the Bengaluru based food products company ventured into the coconut business on Wednesday with the launch of iD Smart Sip Tender Coconut and iD Grated Coconut.
The brand maintains its reputation of being preservative-free with the launch of a coconut range which will be sold in its natural coconut shell to make it their first set of products with plastic-free packaging.
The natural packaging is expected to retain the product's freshness, aroma and taste while increasing shelf life.
The iD Smart Sip Tender Coconut comes with the core message of #KnowYourCoconut or KYC as the packaging includes information about the water content, pulp, sweetness and total edible quantity at 95 percent accuracy, that will offer consumers a choice to purchase as per their needs.
It will be made available in three sizes - small, medium and large, priced at Rs 39, Rs 49, Rs 55 respectively and requires refrigeration.
Its packaging includes a paper straw and a sticker to be peeled by the consumer before drinking. To scrape out the pulp, there's a bigger circular groove that can be cut open with ease.
You may not know what life has in store for you, but with iD Smart Sip Tender Coconut, you'll always know exactly what you're getting. #KnowYourCoconut #iDKYC #TenderCoconut #iDTenderCoconut #ToughNutCracked #InspiredByNature #NaturesOwnPackaging #iDFreshfood #Innovation pic.twitter.com/i9utJ8ncnm— iD Fresh Food (@IDFreshFood) February 12, 2020
The iD Grated Coconut offers fresh grated coconut for daily cooking use. Priced at Rs 60, it is estimated to last for 3 to 4 days when refrigerated.
We've taken one of nature's freshest foods and kept it fresh, naturally! Presenting iD Grated Coconut in a Coconut. It's Nature's Own Packaging.#CoconutInACoconut #GratedCoconut #iDGratedCoconut #ToughNutCracked #InspiredByNature #NaturesOwnPackaging #iDFreshfood #Innovation pic.twitter.com/GF4mbdyIJJ— iD Fresh Food (@IDFreshFood) February 12, 2020
iD Fresh said that the tender coconut market in India, predominantly unorganised, is valued at around Rs 4,000 crore growing at a compound annual growth rate (CAGR) of 10 percent, while the grated coconut market is worth Rs 150 crore, growing at 30 percent CAGR.
By 2022, the company aims to capture 60-70 percent of the organised packaged coconuts market share.
Over the next three months, the two products will be available at retail outlets as well as at iD Kiosks.
At the product launch CEO and co-founder PC Musthafa said it its next phase of 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.
Speaking of the company's growth strategy, Musthafa said, "There is a huge opportunity when it comes to the coconut industry in India. With increased awareness on health and rising consumer preferences towards natural and healthy food and beverages, we believe iD's Coconut will disrupt the market and further propel 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," he further added.