- Orkla India targets rapid growth via premium, health, quick commerce, and acquisitions
- Company plans to consolidate fragmented Indian spices market through acquisitions
- Exports account for 21% of revenue; free trade deals may boost market access soon
Orkla India, the maker of MTR Foods, aims to become one of the country's fastest-growing multi-category food companies over the next five years, driven by premiumisation, health and wellness offerings, rapid expansion of quick commerce, and potential acquisitions.
Company's managing director and chief executive Sanjay Sharma told PTI that Orkla India, part of Norwegian conglomerate Orkla ASA, operates brands including MTR, Rasoi Magic and Eastern.
He told that the company is looking to consolidate the fragmented Indian spices industry through further acquisitions while remaining open to partnerships in the convenience foods space.
The company, among the largest exporters of branded spices, earns around 21% of its revenue from exports and is encouraged by upcoming free trade agreements with key markets, which could improve market access over the next 6-12 months, Sharma said.
While declining to share specific revenue or profitability projections, he expressed confidence the company could sustain its historical double-digit growth as consumer preferences evolve.
Sharma pointed to premiumisation and shifting preferences, particularly among Gen Z consumers, as creating fresh growth opportunities, with demand rising for fresher products with fewer preservatives.
The company has launched protein-enriched poha, upma, dosa and idli as part of an expanding health and wellness portfolio, with more concepts in the pipeline, he said.
Quick commerce is emerging as a key growth driver, with e-commerce contributing about 8.9% of sales and growing at 38%, against an industry average of 11.5%, Sharma said. Industry projections peg quick commerce growth at 18-20% over the next three to five years.
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Beyond organic growth, Orkla India is evaluating acquisitions to strengthen its domestic scale, having flagged its interest in consolidating the spices industry in its draft red herring prospectus ahead of its listing on 6 November 2025. Sharma said the company was also open to partnerships and acquisitions in the convenience foods space.
Only 40% of India's spices market is currently branded, Sharma said, against a total addressable market of around Rs 80,000 crore, leaving "huge headroom to grow." He ruled out the ready-to-drink beverages segment as a strategic priority, noting Orkla's presence there came through an acquisition rather than deliberate entry.
Orkla ASA entered India in 2007 by acquiring MTR, and expanded its portfolio in 2019 by acquiring Eastern from McCormick, PTI reported.
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With PTI inputs
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