The leading packaging industry, namely, Bikano is booming the market at a very fast growth rate. The brand is very versatile and it said that it is aiming to achieve more heights. It aims to grow twofold, that is till Rs 2500 crore in the coming three years. Also, as the world is taking a new shape of digitalization, industries and brands need to work on that as well. Branding is a process through which we can able to work on achieving our targets in the way we want to. It also helps in strengthening the product portfolio. It is being analyzed that this brand gets most of its market and business from different parts of the world but the major from the northern part.
The northern market is a single region where the sales are constantly rising, but, Bikano is planning to expand its business in other regions as well and they will target the region which is demanding such as the southern and western markets.
To increasing business, few things must be kept in mind such as market capitalization, target audience, and consumer behavior among other factors. The portfolio of a company reflects its potential and the services it can offer other people. So they will be now adding new products in line for the domestic markets and they also introduced frozen food which is again a great creative offered product by them.
Additionally, demand for ready-to-eat food is growing widely, so the brand will also be making this item. And with these discoveries, they are constantly targeting the export markets.
On growth prospects, Bikano Director, Manish Agarwal told that they expect Bikano to have a business of Rs. 1,000 to 1,200 crore from its packaged snacks business this fiscal year. He further mentioned that they are expecting to grow around 35 to 40 percent in the next fiscal year. According to Agarwal, the market potential of packaged food segment is very high and the company is trying to harness it with its current product portfolio and new product launches.
