Ice cream and Frozen desserts are among the most popular dairy products in India. The development of eff ective cold chain infrastructure, which consists of temperaturecontrolled storage areas, eff icient management procedures, and the acquisition of trained professionals and servicing personnel, as well as the expanding food and beverage (F&B) segment, are the main factors driving India’s ice cream market. The ice cream market in India is one of the fastest-growing food markets in the country. Shifting consumer preferences towards high-quality food, which has led a number of foreign ice cream brands to expand their operations in India, is also a signifi cant growth-inducing factor for this segment. According to the IMARC report, the ice cream market in India is projected to reach INR 508.4 billion by 2028, growing at a CAGR of 17.5% between 2023 and 2028. Fat products Ghee is a form of nutrient-dense clarifi ed butter that is used as a cooking medium. In the Indian subcontinent, it is best known for its rich fl avour and delicious taste. It is commonly used in South Asian and Middle Eastern cuisines, traditional medicines and religious rituals. Being the second most consumed dairy product after liquid milk, it is a nutritious source of calcium, iron, omega-3 fatty acids, vitamins, proteins and carbohydrates. Also, it aids in reducing infl ammation and treating many diseases. It improves heart and brain health. In addition, ghee consumption is rising across India because it boosts the immune system, eases bowel movements, prevents chronic cough problems and treats eye disorders. According to the IMARC report, the ghee market in India is projected to reach INR 4,787 billion by 2027, growing at a CAGR of 10.5% between 2022 and 2027. Butter is recognised as one of the key ingredients used in the preparation of a wide variety of dishes. It is used in households all across the world, thereby increasing its demand globally. In the processing facilities, cooking butter is made from fresh cream with utmost care to ensure high quality. Heritage Butter contains no added ingredients, but salt. According to the IMARC report, the table butter market in India is projected to reach INR 157.7 billion by 2027, growing at a CAGR of 20.4% between 2022 and 2027. Cream is a dairy product extracted from milk. It is prepared by processing and sterilising milk at a high temperature. Due to its rich fl avour and creamy texture, fresh cream is used in a variety of dishes around the world, including custards, pasta, ice cream, shakes, sauces, and sandwiches, to name a few. Heritage Fresh Cream undergoes extensive processing to give it a smooth consistency, which further aids in curating mouth-watering cuisines. It adds a mouthful of happiness and lends a creamy texture to the food. The packaging of Heritage Fresh Cream ensures that the cream stays fresh until opened. According to the IMARC report, the Indian fresh cream market is expected to reach INR 13.18 billion by 2027, growing at a CAGR of 13.18% between 2022-2027. Distribution Heritage Foods Ltd. has an extensive distribution network, making products available in 11 states in India. The Company’s robust distribution network helps strengthen the brand through its omnichannel presence. Milk is sourced directly from the farmers for production of high-quality milk, milk products and valueadded dairy products. Heritage parlours and Heritage happiness centres are franchised stores and distribution wings that sell the entire product line of the Company. The Company’s distribution network includes 121 heritage happiness centres, 859 exclusive heritage parlours. Heritage products are available in 0.13 million Kirana stores, 27 organised retail chains and 16 e-commerce websites. The use of an integrated technology-driven supply chain for procurement and distribution aids in inventory control. Empowering farmer community TheprimaryconcernofHeritageFarmerWelfareActivities (HFWA) is to promote the growth and welfare of the farmer community. The Company is constantly striving to empower farmers by procuring milk at mutually benefi cial prices, encouraging best practices regarding milk quality and quantity and providing support services to assist them in improving their milk yields by organising free veterinary check-ups and vaccination drives for cattle. Other signifi cant steps taken by the Company include facilitating farm loans and cattle insurance, as well as providing nutritional livestock feed. The Company has hosted 1,071 cattle health camps that have benefi ted 21,452 farmers and treated 67,989 cattle. All these interventions have helped the Company build strong bonds with the farmers. 67,989 cattle were treated 21,452 farmers were benefited 1,071 health camps were hosted Heritage Foods Limited | 31st Annual report 2022-23 140
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