Allana Consumer Products Ltd. plans to invest Rs 300 crore to set up manufacturing facilities for its foray into french fries and frozen potatoes market.
The company is embarking on a strategic expansion to diversifying portfolio and drive growth in the processed, packed and frozen food sector.
"Our venture into frozen foods with french fries is not just a portfolio expansion, it's a strategic move to leverage our expertise, infrastructure, and market reach to deliver a superior product," Allana Group Director Raj Lekhwani said in a statement.
Globally, the frozen french fries market is valued at approximately $19.1 billion ($21.6 billion for regular fries in 2024), he said citing industry estimates and is expected to grow at a steady rate.
"Thus, with this step we aspire to garner a minimum of 3% global market share by 2029 in regular fries," Lekhwani said.
As part of the expansion, the company said it will make an investment of Rs 300 crore to prepare production capacity.
"The company will be setting up new manufacturing units in Gujarat and North India by 2027 with an annual capacity of 40,000 metric tonnes," the company said.
The foray also strengthens the company's commitment to providing products that resonate with evolving consumer demands, particularly in the fast-growing convenience food sector globally, the statement said.
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