Akij Insaf Ltd, one of the largest industrial conglomerates of the country, has launched Akij Bakers Limited with investment of Tk1,200 crore.
The company's marketing of the new premium brand biscuits, Bakeman's started formally on Thursday in a programme in the city where Akij Group's Director, Sheikh Jamil Uddin was present.
Akij Bakers' Chief Distribution Officer, Shafikul Islam said Akij will bring biscuits, cookies, cake, bread, chocolate and other bakery products gradually in the market.
The company has installed a new factory in Tongi for production of bakery foods.
Akij has plan to increase the investment further and import bakery products in foreign countries in the future.
The industries under this conglomerate include textiles, tobacco, food & beverage, cement, ceramics, printing and packaging, pharmaceuticals, consumer products etc.
Akij also provides services in healthcare, information and communication technology.
According to the Bangladesh Auto Biscuits and Bread Manufacturers' Association, the country's biscuit and confectionery market size amounts to around Tk6,000 crore.
Olympic, the market leader which accounts for 25% of the industry. Both Nabisco Biscuit and Bread Factory Limited and Pran-RFL Group jointly hold second place with 8% of the market share each.
Haque, Al-Amin and Danish have 5% of the market share each. They are followed by: Bongos, Romania, Deco, Globe, Fu-Wang, Bonoful, Kishowan, Thai Food, Bengal, Gold Mark, Mashafi, and New Olympia, each accounting for a 2-3% stake.
Other companies, including Ifad, Cocola, Pinnacle, Kakoli, Shifa, and Kohinoor Industry, have also occupied a sizable portion of the market.
Sales of non-branded small factories have also posted sales growth during the pandemic.
Md Shafiqur Rahman Bhuiyan, president of the Bangladesh Auto Biscuits & Bread Manufacturers, said small companies alongside the big brands have increased their investments at this time.