Indian dryfruits market to double in four years

The market is currently pegged at Rs 15,000 crore with their volume estimated at approximately 450,000 tonnes

Indian dryfruits market is likely to double in four years on rising demand of health conscious and nutritious food.

The Indian dryfruits market is currently pegged at Rs 15,000 crore with their volume estimated at approximately 450,000 tonnes. But, its size is estimated to reach Rs 30,000 crore by 2020 with over 1 million tonnes in volume term, said Mukesh Kumar Gupta, Chairman of Royal Dry Fruits Range, a city based dryfruits retailer, on the occasion of opening its second store at here on Friday.

The privately owned company is planning to open 50 stores under "Royal Dry Fruit Range" across India in three years. Currently "Royal Dry Fruit Range" has a presence in Jaipur, Ahmadabad, Surat, Goa and Mumbai through its complete range of dryfruits. Going forward, the company plans to expand its presence in Rajasthan, Maharashtra, Gujarat and Goa.

 

The demand of dryfruits is rising because of a combination of factors such as increasing awareness of health needs, increasing disposable income levels, better availability, right packaging, consistent quality, adequate product communication (labeling), newer products such as hazelnuts, pecannuts, etc, are leading to a healthy growth of more than 10 per cent year on year for the nuts and dry fruits industry in volume terms. This is much ahead of the CAGR growth rate of 5.3 per cent for the dry fruit market and 6.5 per cent for the nuts market in the Asia-Pacific said Gupta.

"We take great pride in importing quality products from virtually every corner of the world. Our essence lies in providing quality products at reasonable prices. Our splendid mix of products from across the globe ensures that Indian market is spoilt for choice, by brands par excellence, both in quality and premiums," said Gupta.

Anshul Agarwal, Managing Director of the company said, "We track a wide range of critical food industry trends such as consumer behaviour, attributes and purchase motivators -ranging from specific requirements and unique dietary needs to emerging consumer trends and brands awareness."