Deb Mukherjee: Crafting Culinary Delights with Ceres Foods

Deb Mukherjee left her ten-year profession as an investment banker in 2013 to enter the food industry and go on a culinary adventure. In 2014, Mukherjee established Ceres Hospitality, a Quick Service Restaurant (QSR) chain that quickly grew to 45 locations around Maharashtra, drawing inspiration from his father’s forty-year career in the hospitality sector. Nevertheless, Mukherjee soon came upon a typical difficulty in the food and beverage sector: keeping consistency while growing.

The turning point for Mukherjee and his team came when they collaborated with Bluestone Capital to set up a cloud kitchen business in Sri Lanka. This venture led to the creation of ready-to-eat products, including Biryani, South Indian Chettinad, Burmese Khao Suey, and more. Seeing success in Sri Lanka, Mukherjee decided to replicate this concept in India, leading to the birth of Mumbai-based ready-to-cook startup Ceres Foods in 2020.

Joining Mukherjee in this culinary venture are co-founders Amit Mange and Jagmandeep Singh. Ceres Foods has carved its niche by offering 13 products across two categories—Oriental sauces and Indian gravies. The startup prioritizes ease of preparation, ensuring that its products can be cooked without specific culinary skills.

Ceres Foods’ manufacturing operations are entirely sourced from four units located in Maharashtra and Gujarat. The startup, which generated revenue of Rs 25 lakh last month, has charted an impressive trajectory in the highly competitive food industry.

However, success did not come without its share of challenges. Ceres Foods initially faced difficulties finding its footing in the market, with products like ready-to-eat gravies facing tough competition from established masala brands. Learning from this setback, Mukherjee shifted focus to the non-vegetarian market, recognizing the significant demand in India, where 75 percent of the population is non-vegetarian.

The startup introduced liquid masalas for non-vegetarian dishes, such as Laal Maas, Mustard Fish, and Nalli Nihari, streamlining the cooking process. Ceres Foods also ventured into the oriental category with ‘Moi Soi’ sauces, including Black Bean Sauce and Manchurian Stir Fry Sauce. The startup’s commitment to innovation and customer convenience extends to offering ready-to-eat momos and chicken cutlets.

Ceres Foods tested its products in four cities for three months before expanding to 28 cities across the country. With Mumbai leading in sales, followed by Pune, Goa, Gurgaon, and Kolkata, the startup has achieved a strong online presence, with 90 percent of its business coming from platforms like Amazon, Flipkart, and its website. Additionally, Ceres Foods caters to international markets, including Sri Lanka and Saudi Arabia, with plans to expand to Dubai and Singapore.

As the startup aims for pan-India presence, Mukherjee acknowledges the surprising success in Chennai, which has become one of Ceres’ highest-selling markets. The co-founder attributes this to the dominance of local players in Chennai, creating an opportunity for D2C brands to explore the market further. In response to this trend, Ceres Foods plans to introduce more flavors tailored for the South Indian market, emphasizing authenticity and originality.

Despite initial challenges, Ceres Foods has experienced a surge in demand, with monthly unit sales expected to reach 10,000 by the end of this month. The startup has witnessed increasing demand from Tier II cities like Jaipur, Nagpur, Indore, Lucknow, and Jammu.

The ready-to-eat and frozen foods market in India has witnessed significant growth in recent years, with a projected CAGR of over 16 percent to reach $647 million by 2023. Mukherjee attributes this growth to a shift in consumer preferences, where individuals are willing to pay more for quality-driven and value-added products.

With a target customer base aged between 25-45 years, Ceres Foods envisions becoming a key player in the ready-to-eat market. Mukherjee aims to achieve sales of 100,000 units per month within the next six months and 300,000 units within 12-18 months. Looking ahead, the co-founder is also exploring fundraising opportunities to enhance manufacturing capabilities and drive further expansion. In the culinary realm, Deb Mukherjee’s Ceres Foods is not just satisfying taste buds but redefining the future of ready-to-eat delights.