Pillsbury products
Pillsbury Israel to market desserts
Company invests NIS 3.5 million in new product line; aims to obtain 25-percent growth in cake mixture market, increase market share to 60 percent
Pillsbury Israel is expanding its activity. The company announced Monday that it was broadening its baking products category and entering the dessert category with crème caramel and pudding mixtures.
The company invested NIS 3.5 million (about USD 813,000) in the product development. The aim of the move is to obtain a 25-percent growth in the cake mixture market and to increase Pillsbury's market share in the category to approximately 60 percent.
Danny Nagel, CEO of General Mills, which imports, markets and produces Pillsbury's products in Israel, said that the company decided to enter the dessert mixture market following a comprehensive examination of the market and an identification of an unrealized potential of consumers.
According to Nagel, the move will be backed by a wide-scale marketing plan.
The entire baking aids market (cake, jello and pudding mixtures, crème mixtures and syrups) generates NIS 120 million (USD 27.9 million). The cake mixture market noted a growth of 15 percent in the past year and now generates NIS 7 million (USD 1,626,000) a year.
Pillsbury was introduced into the Israeli market in 1996 and has since been the dominant player in this market with a 56-percent market share.
A survey conducted recently by the Teleseker company revealed that 63.6 percent of women in Israel bake cakes and prepare desserts at home. Some 44.6 percent of the bakers do it on a weekly basis.
Most bakers prefer to bake and make desserts ahead of the weekend, mainly on Thursdays (30.6 percent) and Fridays (28.9 percent).
