ITC eyeing greater pie of sweet meat packaging market

ITC is eyeing at least 10 per cent share of the Rs 100 crore sweet meat market in the country in the next three years. The total food grade paparboard requirement of the sweet meat market is estimated to be around 40,000 MT annually, Mr Niraj Shrivastava, general manager, ITC paperboards and speciality division, said here today.

The company has already reached out to 1,500 sweet meat shopowners nation-wide and is focussing in a big way in West Bengal which formed 50 per cent of the sweet meat market, he said, adding that although use of ECF is costlier, it would pick up slowly with shopowners and consumers giving more weightage to environment friendly healthy food.

By 2006-07, ITC is eyeing at least 30 per cent market share of the one million ton packaging board market which contributes to 90 per cent of the Rs 1150 crore turnover of the company, the official said. At present, ITC occupies 25 per cent market share in the paperboards segment.

The paperboards division is also looking at Rs 200 crore revenue from its exports in 40 countries this year as compared to Rs 150 crore last year, he added.