Indian consumers go nuts over dry fruits

This growth is way ahead compared to 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.  

The Indian dry fruits market is witnessing a robust growth pegged at Rs 15,000 crore with its volume estimated at approximately 4,50,000 tonnes annually. As per experts, this number is likely to double in the next four years due to rising demand for nutritious food among the health-conscious. 

A combination of factors such as better packaging, consistent quality, adequate labelling and availability of newer products such as hazelnuts and pecan nuts is turning the nation into a hotbed for consumers.

Pratap Nair, Chairman, INC Council, India tells us, “The nut and dried fruit sector is a $30 billion industry worldwide, of which India’s consumption stands at 3 to 4 per cent. It’s about time the country had an opportunity to showcase its consumer strength at this Congress, which has been previously held in California, NY, and London. We have one of the largest consumer bases for cashew nuts the world over. Indians consume about 5,00,000 tonnes in shell annually (25 per cent being actual).

 In terms of nuts, cashews, walnuts and peanuts are our chief exports. We are the largest producers and consumers of cashew in the world as well as being the third largest importers of almonds.”

On opportunities available in Tamil Nadu, which produces about 20,000 tonnes of cashew seed every year, Nair says, “There are several factories in the state which process cashews brought from Africa. Most of these factories are based in Kanniyakumari and Panruti. The big challenge we see is in the growth in production of raw cashew. The demand is growing faster than the production.”