India's dry fruit market has been experiencing impressive growth, with a steady 10-12 percent compounded annual growth rate (CAGR) even before the pandemic. However, the post-pandemic period has witnessed a surge in demand for healthy snacking options, leading to increased interest in the market. Surprisingly, branded players account for less than 10 percent of the entire market share, presenting a significant opportunity for growth and expansion.

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Recognising the immense potential of the dry fruit market, several prominent brands have entered the arena. Tata Consumer, Happilo, Open Secret, Tulsi, ITC, Reliance, and DMart have all embraced the opportunity.

India ranks second in terms of consumption for popular dry fruits like peanuts, almonds, and cashews. The country holds the third position for raisins, fourth for dried figs, sixth for walnuts, and seventh for dates. These statistics demonstrate the significant appetite for dry fruits among Indian consumers, opening up avenues for innovation and market expansion.

Deepika Bhan, the Packaged Foods President at Tata Consumer, expresses enthusiasm for the untapped potential of the dry fruit segment. She highlights that while the consumer market is valued at Rs 9000 crore, the commercial market is substantially larger.

“We know that the dry fruit segment is quite large — Rs 9000 crore is really just the consumer market, while the commercial market is much larger. Even that consumer market is largely unbranded, so the ability to be able to help the consumer purchase is really what energised us.”

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Vikas Nahar, Founder and CEO of Happilo, recognises the long-standing wisdom regarding the nutritional benefits of dry fruits. However, he observes challenges such as limited accessibility, unorganised supply chains, and the absence of nationwide branded players.

“I thought there is no nationwide brand. So my aspiration was to build a nationwide dry food snack brand to fulfill the nation's nutritional needs and bring more convenience and affordability to the segment.”

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