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ProvFoods, a rising name in India’s dry fruit sector, is setting its sights on substantial growth as the country’s fragmented dry fruit market shifts towards organized and branded products. Founded in 2015 by DP Jhawar, the company has leveraged its understanding of the unorganized sector to establish a solid presence in the organized market. “When we started, 90% of the industry was unorganized. We saw the opportunity to bring quality and consistency to a market where consumers were demanding more transparency,” says Jhawar. With the dry fruit market currently valued at INR 60,000 crore and projected to grow to INR 95,000 crore in the next five years, the share of organized products is set to expand rapidly. Jhawar anticipates the branded sector will rise from INR 7,000 crore to INR 20,000 crore over the same period. ProV Foods reported revenues of INR 300 crore last year and has set an ambitious target of INR 425 crore for the current fiscal year. The company’s strategy focuses on deepening its presence in southern India, where it already has a strong foothold, aiming for 30% to 40% year-on-year growth. Jhawar emphasises, “We’re focusing on going deep in the markets we’re already in, rather than expanding too wide too quickly.” Read full story here: https://lnkd.in/g6NMxA3m #provfoods #dryfruits #foodindustry #growth #expansion #news #latestnews Shalin Khanna VentureGarage LinkedIn News India Linkedin News Ashu Agrawal

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