Dr Oetker aims to make India one of its top 10 markets

German processed foods maker Dr Oetker is looking to make India one of its top 10 markets in future, as the company hopes to expand at a "faster pace" over the growth recorded last year, an official said on Wednesday.

At present, India is among the group's top 20 markets, he said.

"Fun Foods revenue from retail was Rs 13 crore when we took over it in 2008. Now, we are Rs 300-crore revenue company. Last year, we grew in excess of 20 per cent and in future, we hope to expand at a faster pace," Dr Oetker India MD and CEO Oliver Mirza said.

Dr Oetker India's product portfolio consists of about 80 items in the food category but mayonnaise and peanut butter are revenue churners for the company with 50 per cent and 25 per cent contribution respectively, he said.

He claimed the company has a close to 60 per cent market share in mayonnaise and launched new variant of peanut butter.

"Peanut butter will be our another growth engine as we aim at Rs 500 crore revenue in the next two to three years," Mirza said.

Improvement in ease of doing business will boost its growth in India, he said.

German processed foods maker operates in 50 countries with global revenue of USD 8 billion, he added.