The Industry is Seeing a Phenomenal Growth- Ankit Doshi
Gt Group is now focusing on providing premium and best quality products
The agarbatti and incense industry is currently experiencing rapid growth, albeit in an unorganized fashion. While there are a few companies that have achieved great success from humble beginnings, they are few and far between. Ankit Doshi, Chief Executive Officer of GT Group in Chennai, in an exclusive conversation with Sugandh India shared that the industry is currently worth approximately twelve thousand crores, but it lacks organization. The industry is dominated by local producers, with only two to four companies having achieved pan-India brand status. Doshi explained that the agarbatti and incense industry is neither an FMCG nor a planned purchase market. Instead, it has become a need-based essential products industry. The future of this industry is very promising, with demand for high-quality products expected to increase in the coming years. As a result, competition for high-quality products is expected to intensify rapidly, and GT Group is actively preparing for this.
The agarbatti and incense industry is currently experiencing rapid growth, albeit in an unorganized fashion. While there are a few companies that have achieved great success from humble beginnings, they are few and far between. Ankit Doshi, Chief Executive Officer of GT Group in Chennai, in an exclusive conversation with Sugandh India shared that the industry is currently worth approximately twelve thousand crores, but it lacks organization. The industry is dominated by local producers, with only two to four companies having achieved pan-India brand status. Doshi explained that the agarbatti and incense industry is neither an FMCG nor a planned purchase market. Instead, it has become a need-based essential products industry. The future of this industry is very promising, with demand for high-quality products expected to increase in the coming years. As a result, competition for high-quality products is expected to intensify rapidly, and GT Group is actively preparing for this.
GT Group, based in Chennai, specializes in the manufacturing of Sambrani, Frankincense, Camphor, Kumkum, and aromatic oils. Their Sambrani products have been a part of their portfolio for over 22 years, along with incense sticks under the brand name Twohands which is gaining popularity. The CEO of the company, Ankit Doshi, shared that GT Group is primarily a family business, and he oversees the marketing and orientation program of the branded division. He highlighted that the company has been producing Sambrani and Frankincense for over two decades and recently launched Twohands Agarbatti in 2021, which has received a positive response from customers with year on year 142% growth. GT Group’s products are sold across 21 states of India and come in economy, medium, and premium ranges. The company specializes in Sambrani and is preparing to launch more varieties of Agarbatti. Doshi emphasized that the demand for Sambrani has increased since the COVID-19 pandemic as their products are naturally based across all ranges, from economy to premium. He added that while incense sticks and wet dhoop were popular in the past, the future belongs to Sambrani.
In response to a question from Sugandh India, it was reported that the company offers products ranging from two rupees to 300 rupees. The market for products priced at an MRP of ₹2 is most in demand in areas surrounding major temples and religious sites throughout the country, such as Chennai, Kanpur, Mumbai, Mysore, Telangana, and small towns in Andhra Pradesh. About camphor production: the Pavithram brand was introduced in 2020 following the COVID-19 pandemic, but the focus on its production has been limited. While the camphor market has rapidly grown, a lot of the products in market are chemical-based, whereas our camphor is of natural quality, resulting in limited demand and supply. The number of branded companies in the camphor sector has increased now.
In response to a query about the plans and challenges of GT Group, it was shared that although the industry is growing at a rapid pace, the influx of low-quality products has become a common phenomenon. However, this situation also presents an opportunity for the fast-growing industry. Given the large population of the country, the demand for such products is continuously increasing. Additionally, the emotional attachment of people towards religious beliefs is also contributing to the growth of the market. Despite the market growth being almost 8 per cent, the sector has not yet been well-organized, leading to unhealthy competition.
In response to a question, he said that it is good that new people come into the fragrance industry, but at the same time, it is also important that there should be quality-based products so that the competition can be healthy. He said that GT Group is still new in the agarbatti business and we are understanding the industry. In such a situation, we endeavour to provide only premium range products of the best quality. The company is continuously working in this direction. In response to a question related to online marketing, he said that when we started it, the sales were only Rs 15-20 thousand, but last February this figure reached Rs 7 lakh, even though we do not have our website. He said that only premium quality products are popular in the online market. That’s why we are working on the best premium quality.
