Akij Bakers Limited on Saturday (12 November) launched "Funtastic Cakes" – a brand of bakery items made with the best ingredients and state-of-the-art European machinery.
The new venture with Tk1,200 crore investment entered the market to celebrate Bangladesh's golden jubilee of independence.
At the launching ceremony, Akij Bakers Managing Director Sheikh Jamil Uddin said, "We have not compromised on quality since the beginning of our company. Using the best ingredients was and is our first priority."
He also said, "All the products of Akij Bakers Ltd are produced in a fully automated manner using the latest machines imported from France, Germany, Italy, and the UK. Within a few days of its launch, Akij Bakers Limited reached the second position in cake sales in Bangladesh.
"To continue this incredible streak of success, Akij Bakers' Funtastic Cakes have been using the healthiest A-grade flour, sugar, real cream, high-quality imported flavours, and skimmed and full cream milk powder."
Md Shafiqul Islam Tushar, chief marketing officer of Akij Bakers Limited, said, "We have kept the quality of the product at the highest level as part of the marketing strategy. But while determining the price, we have decided on an acceptable rate, keeping in mind the purchasing power of buyers."
He said the company ensured availability of the product as part of its distribution strategy.
"Notable brands in our extensive product range include – Bakeman's Biscuits, Funtastic Biscuits, Funtastic Cakes, Yum Cakes, Fast Bread and Buns, Fast Cakes, and Hi5 Wafers. In terms of product planning, we have prioritised consumer preferences along with taste and quality," said Md Shafiqul Islam Tushar.
The market size of bakery items in Bangladesh in 2021 was Tk7,000 crores. Bangladesh Auto Biscuit and Bread Manufacturers Association (BABBMA) estimated that 97%-98% of the total production by the local manufacturers are consumed locally, and the remaining 2%-3% is exported.
Moreover, 60% of the demand for bakery products in the country is met by automated biscuit factories and their brands, while non-brand manufacturers meet 36%. The rest – 4% - Is imported.
Bangladesh exports 15,000-16,000 tonnes of bakery items annually, valued at around Tk500 crore. Most of Bangladesh's bakery products are exported to Saudi Arabia, Oman, Malaysia, the United Arab Emirates, and Somalia.